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Resignation of Director

Document date: Fri 10 Jan 2003 Published: Fri 10 Jan 2003 13:55:23
Document No: 230577 Document part: A
Market Flag: N
Classification: Director Appointment/Resignation
KALREZ ENERGY LIMITED 2003-01-10 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
The company would like to advise that Robert John Collins has offered
his resignation as of the 9th January 2003. The Board has accepted
his resignation effective 10th January 2003.

Rob has been a Director of the company since 1991. He has assisted
with the growth of Kalgoorlie Resources Limited, which focused on
mineral exploration.

Kalrez Energy Limited (formerly Kalgoorlie Resources Limited) is now
an oil producing company with assets in Seram, Indonesia consisting
of the Bula Oilfield and the 0seil Joint Venture, which has recently
come on stream.

The company thanks Rob for his efforts over the years and wishes him
success in the future.


E Smith
CHAIRMAN