OilVoice - Impress Energy Announces Management and Board Changes

Impress Energy Announces Management and Board Changes

Monday, August 31, 2009

Building upon its continued successful exploration efforts in the Cooper Basin, Impress Energy Limited has well and truly cemented its place in the ranks of Australia’s junior oil producers with a total net oil production in the 2008 / 2009 financial year of 113,328Bbls an increase of over 280% from the previous corresponding period.

In order to help ensure that it continues to build upon its exploration success and is well placed to move forward to the next stage of its development the Company is pleased to announce the following management and Board changes which will be implemented with effect from tomorrow 1 September 2009:

Mr Les Longden, FAICD, F Fin, an existing non-executive Board member will assume the role of Executive Director Corporate, assisting Mr Greg Smith who will remain in the position of Acting Chief Executive Officer until at least 1 March 2010 by which time it is intended that a permanent Chief Executive Officer will be appointed. Throughout this period Greg will also maintain his role as technical advisor and Exploration Manager through his consultancy firm Tanglin Exploration Pty Ltd.

Les, with more than 20 years of experience in the technical and commercial aspects of oil and gas developments is well qualified to assist in managing the Company’s transition from a small market cap explorer to a significant petroleum producer and to provide leadership for the Company’s future growth.

Mr Eddie Smith will remain as Impress’ Chairman and continue to provide assistance to the company albeit in a less hands-on capacity.

In addition, to further strengthen the Board, the Company’s Directors are pleased to announce the appointment of Mr Bernard Crawford as a non-executive Director from 1 September 2009. Bernard, 46, is a Chartered Accountant with extensive experience in the resources industry where he has held various positions in finance and management with NYSE, TSX and ASX listed companies. Bernard brings with him a proven track record of implementing and maintaining good corporate governance and financial management practices.

Commenting on the above, Impress Chairman, Eddie Smith, said:
“The appointments of Les and Bernard, with the retention of Greg in his existing key role, will provide a strong platform for the growth of the Company going forward and will provide an effective transition of the Company’s management as it emerges as a significant oil producer.

As we change into a significant oil producer, as a shareholder and as a person who has had a deep interest in the Company for many years, I am very pleased that Impress has reached this stage of transition and that it can take advantage of our present and future revenues and our experienced team to manage the Company on the way forward.”

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