FINDING companies that are struggling in their existing business and giving them a new direction is bread and butter for Ian Middlemas.
That’s how the man behind the Renewable Energy Corporation Limited, QED Occtech and, more recently, West Oil and Berkeley Resources describes his business – or at least part of it.
Mr Middlemas remained tight-lipped about his plans for Berkeley but shed some light on West Oil.
He said the listed oil explorer fell into the category of a company needing a new direction.
“Although in that company’s case it’s more about finding it new assets,” Mr Middlemas said. “We’re looking for new resources both on and offshore in both oil and gas.”
Mr Middlemas rose to prominence as the right-hand man of Normandy’s tough chief Robert Champion de Crespigny.
He was also a chartered accountant and worked with then big-five accounting firm Arthur Andersen.
After his time with Normandy, Mr Middlemas came to Perth.
Among the many companies he has formed or been involved with was Renewable Energy Corporation Limited – something he started with Gus Simpson – involved with biomass generators. It initially started off looking at gold in Tanzania.
Australian Securities and Investments Commission records show that Mr Middlemas is a director of more than 25 companies.
Some of these include agricultural tax effectives such as the Margaret River Wine Corporation, Dandaragan Olives and the New Norcia Olive Oil Company.
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