AWE Notes Change in Non-Executive Director

AWE announced the impending retirement of its Non-Executive Chairman, Bruce McKay, the subsequent appointment of Bruce Phillips in that role and the appointment of new Non-Executive Directors.

Non-executive chairman

Bruce McKay has served AWE as its Chairman since its initial public offering in 1997: over those thirteen years he has made a significant contribution by working effectively with the Board and management to help deliver the success and growth of the company for shareholders. The Board and Bruce have been cognizant of the need to achieve a coordinated transition and have been working together for some time to ensure AWE remained effectively governed and maintains a stable platform for the next stage of its corporate development. Bruce will step down at the close of the Annual General Meeting (AGM) on 18 November 2010 with the unanimous support and thanks of his fellow directors.

The board is pleased that Bruce Phillips has accepted its call to become AWE's Non-Executive Chairman on Bruce McKay's retirement. Bruce Phillips is well known in the Australasian upstream oil and gas industry and is highly respected by the investment community. As founder of AWE and Managing Director (MD) until 2007, he brings a wealth of knowledge as well as a strong skill set of technical, strategic and commercial competence coupled with an entrepreneurial approach. His fellow directors are confident that he will provide valuable leadership and strategic direction to deliver value to AWE shareholders.

Bruce is 55 years old and a petroleum explorationist with over 30 years of broad-ranging international oil and gas experience. He is currently a Non-Executive Director of AGL Energy Limited and Non-Executive Chairman of Platinum Capital Limited and an Alternate Director of the Very Small Particle Company Limited.


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