The board of Sefton is pleased to provide an update on the progress in regards to the recruitment of a new Chief Executive Officer.
The Company has identified a preferred candidate with significant oil and gas industry and quoted company experience. The Company is hopeful of finalising terms for the new CEO's appointment shortly. Negotiations are ongoing and a further announcement will be made once a firm agreement is reached.
In the interim, Keith Morris, Tom Milne and Jossy Rachmantio (Non-Executive Directors of Sefton) continue to work closely with Raylene Whitford (Chief Financial Officer) on implementing the near term goals of the Company.
Update on prospective acquisition of oil and gas assets
The Company confirms that it continues to explore and undertake primary due diligence regarding the prospective acquisition of oil and gas assets in accordance with the strategy outlined in the announcement of 2 February 2015. Once the appointment of the CEO is finalised, the Company intends to execute the planned strategy for the acquisition of future oil and gas assets which involves finalising the agreements required to progress this matter further.