appointment of financial advisors

What do you guys make of this one? Looks like a complete overhall at DLS...

APPOINTMENT OF FINANCIAL ADVISORS

The Board of Drillsearch Energy (Drillsearch) advises that it has appointed Carling Capital Partners (CCP) as the chief financial advisors to the company for an initial term of 12 months.

CCP is an independent, relationship based boutique corporate advisory and investment banking firm which provides tailored investment banking and advisory services to medium to large private companies and mid cap sized public companies in the Australian corporate market.

A major factor in the appointment of CCP was that the CCP executive group has significant financial and capital markets expertise and specific Oil and Gas industry experience.

The Executive Chairman Mr. Simpson said that;
“In the short time since CCP’s appointment Messrs David Williams and Ian Knox have added real value to the Company’s financial management and planning and have worked very effectively with our management team and provided high level strategic advice to the Board.”

CCP’s role includes but is not limited to:
1) Advising the Drillsearch Board on capital management and corporate structure;
2) Examining Drillsearch’s strategic plan and related benchmarks to maximise the value of non-core assets in Australia and/or Canada; and
3) Working with the Drillsearch Board to further develop and implement the medium to long term corporate strategic plan domestically and off shore.

Mr. Simpson said that;
“Despite the challenging domestic and global financial markets the company’s planned financial and corporate restructuring is on target. The Board is committed to building shareholder value and will implement the next ‘value adding’ stage of its corporate plan shortly.”