oil and gas exploration africa and middle est

18-8-2011

AAE is might invest into West Africa oil(WAF)and gas operator Rialto Energy Limited (RIA)given the newly appointed director Mr Whiddon. Still good prospects for AAE. Stil a buy in my opinion

As previously announced, the Company has allocated part of its working capital budget to the identification and evaluation of new oil and gas investment opportunities. In this regard the Company is actively reviewing a number of potential acquisitions and farmins, primarily in Africa and the Middle East. No decision to invest in any of the projects currently being reviewed has been made at this stage.

The Directors of diversified energy company Agri Energy Limited (ASX: AAE) (Agri Energy or the Company) are pleased to announce the appointment of Mr Glenn Whiddon as a Director.

Mr Whiddon has an extensive background in the natural resources sector, with specific focus on Africa, Europe and Russia oil and gas transactions and direct equity investments in the resources sector.
Mr Whiddon is Chairman of ASX listed West Africa oil and gas operator Rialto Energy Limited and has previously been a director of a number of Australian and international listed companies.

The appointment of Mr Whiddon underscores Agri Energy’s diversification within the energy sector into oil and gas which compliments its renewable energy business.
Mr Keiran Wulff has resigned as a director.