06/02/2008 - 10:41

Blue Energy CEO resigns

06/02/2008 - 10:41

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The board of West Perth-based Blue Energy Ltd has accepted the resignation of Sharif Oussa from the position of chief executive with immediate effect.

Blue Energy CEO resigns

The board of West Perth-based Blue Energy Ltd has accepted the resignation of Sharif Oussa from the position of chief executive with immediate effect.

Mr Oussa, a co founder of Blue Energy, will remain on the board as a non executive director of the company.

Blue Energy said Mr Oussa was instrumental in putting together over 30,000 square kilometres of highly prospective CBM and conventional oil & gas acreage for the company, primarily in Queensland and South Australia.

Mr Oussa's resignation follows an intense year of achievement in moving the company into the operational phase with the raising of over $35 million in new capital, appointment of a highly experienced technical and commercial team and the establishment of a new head office in Brisbane.

In addition the past year has seen the acquisition of three new ATP's in Queensland, four PPL's in Papua New Guinea and a farm out of joint venture interests in South Australia's Cooper Basin.

Bill Williams, the company's chief commercial officer has accepted appointment by the board to the position of acting chief executive.

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