AusTex Oil Limited (ASX:AOK) Apoint Mr Kwang Hou Hung As Non Executive And Deputy Chairman
Sydney, April 18, 2011 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) is pleased to advise the appointment of Mr Kwang Hou Hung as a Non-Executive Director and Deputy Chairman of the Company effective from 18 April 2011.
Mr Hung qualified as a Chartered Accountant with KPMG, United Kingdom in 1982. He is a member of both the Institute of Chartered Accountants in England & Wales ("ICAEW") and the Malaysian Institute of Accountants.
He has extensive experience in line and corporate management, having served in various senior management and director positions in companies listed on the Bursa Malaysia (formerly called the Kuala Lumpur Stock Exchange). Mr Hung is also a past Chairman of Rocklands Richfield Limited (ASX:RCI), an ASX-listed company.
The Board extends a warm welcome to Mr Hung and believes that his valuable corporate experience will greatly assist the Company as it seeks to grow its profile in the Northern Hemisphere and further develop it US based oil and gas assets.
Mr Hung recently acquired 6.6% of the issued capital of the Company by way of a placement and an Appendix 3X Initial Directors Interest Notice is attached - see link: http://www.abnnewswire.net/media/en/docs/631684.pdf
About Australian Oil Company Limited
Australian Oil Company Limited (ASX:AOK) (OTCMKTS:SGCSF) is an Australian-based energy company focused on under-explored, recently over-looked, world class oil and gas opportunities near under-supplied markets. The Company is currently focussed on conventional oil and gas exploration and production in the Sacramento Basin in California. Australian Oil has a portfolio of natural gas and oil producing wells in addition to prospects and discoveries at various exploration and appraisal stages. AOK is in the process of evaluating the acquisition of oil and gas producing and exploration assets to enhance the Company's strategic needs and deliver shareholder value.
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