WestSide Corporation Ltd today announced founding Director Mr Angus Karoll will take-up the position of Chairman and acting CEO of the Company. Mr Karoll will replace Mr Michael Cavell.
Mr Karoll has been a Director of WestSide since the Company was established in 2005 and was instrumental in negotiating the Company’s foundation farm-in agreements with Sunshine Gas Ltd and in establishing relationships with WestSide’s cornerstone investors – including PT Bumi Resources TBK, one of Indonesia’s largest coal miners.
Mr Karoll’s increased involvement will be of benefit to WestSide’s operations in Australia and abroad and is timely given the level of activity in the current market.
WestSide will maintain its focus on production testing at the Paranui and Tilbrook coal seam gas (CSG) projects in central Queensland’s Bowen Basin. Together with joint venturer PT Bumi Resources, WestSide continues to gather data from a number of core wells which are being drilled at Bumi’s Kaltim Prima coal project in Indonesia.
WestSide will continue the search for a suitably-experienced permanent CEO – a process made difficult due to intense competition within the resources sector.
Mr Cavell has resigned effective immediately as a result of differing views with the Company’s Board of Directors regarding the future direction of the Company.
