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Leigh Creek Energy makes changes to management structure

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World Coal,

The executive management team of Leigh Creek Energy (LCK) has been restructured in order to better meet the needs of the Company over the next twelve months.

As a result of the company recently obtaining its independently assessed coal resource and gas resource certifications, the level of interest in its gas and the workload with regards to gas marketing and negotiating sales contracts has increased dramatically.In addition, the early stage work associated with the full field commercial gas development is also accelerating.

Associated with this effort is the optimisation of future capital needs, by way of gas monetisation and project debt against future infrastructure assets. This has led to the reality that the workload of LCK’s Managing Director, Mr Shearwood, has risen to the point that he is regularly on the road in the Eastern Australian States and Overseas as the company ensures that it devotes the appropriate level of attention to gas marketing, Investor Relations and debt sourcing.

As a result of this increase in workload, and the need for more operational support, the Board has appointed Phillip Staveley, current CFO, to the role of CEO.

In addition to his new role as CEO, Staveley will continue to fulfill the CFO role.

Staveley’s long-term experience in resources, including 15 years in CEO and CFO roles will meet the needs of the company during this important phase of development.

Edited from press release by Harleigh Hobbs

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