Appointment of Mr Mick McCormack as a Non-executive Director
Central Petroleum Limited (ASX:CTP) (“Company” or “Central”) is pleased to announce the
appointment of Mr Michael “Mick’’ McCormack as a Director of the Company effective 1st
Central’s Chairman, Wrix Gasteen said, “I am delighted to welcome Mick McCormack to the
Central Petroleum Board. Mick retired last year as Managing Director and CEO of the APA
Group, one of Australia’s leading energy infrastructure businesses and ASX Top 50 Company.
During his 14 years leading APA, Mick was instrumental in growing APA from a small pointto-point pipeline business into Australia’s largest owner and operator of energy infrastructure
with an enterprise value of around $24 billion. Mick’s insight into the Australian domestic
energy sector and his hands-on experience, including developing gas pipelines and gas
processing infrastructure across Australia, will be invaluable as Central looks to both develop
the Range Coal Seam Gas Project in Queensland and progress the proposed Amadeus to
Moomba Gas Pipeline which promises to provide a more direct and cost efficient route to the
larger east coast markets from our gas fields in the Northern Territory.
With over 35 years’ experience in Australia’s energy infrastructure sector, Mick is recognised
as a pioneer in the Australian energy industry and was instrumental in transforming Australia’s
gas delivery system with the development of a world-leading pipeline grid system.
“Mick is recognised for his value-accretive M&A strategies, effective capital allocation, prudent
capital management and strong corporate governance principles. It is a testament to the
professionalism of the Central Board and Management and the Company’s significant growth
prospects, that both Mick McCormack and also Dr Agu Kantsler, chose to join the Company’s
Board after lengthy due diligence processes,” said Mr Gasteen.
Mr McCormack said: “I am very enthused to be joining the Board of Central Petroleum. Gas
has been and will continue to be a lifelong passion of mine. While having spent most of my
career on the transportation side of the gas supply equation, I am very attuned to the
production side and how more supply is essential to the long-term delivery of reliable and
“Having developed the east coast gas grid, I know the importance of investment in pipelines
and of course, getting more gas to market. There is now a real opportunity around nationbuilding infrastructure projects like the Amadeus to Moomba Gas Pipeline which Central is
actively pursuing”, added Mr McCormack.
Central’s Managing Director and CEO, Leon Devaney said, “Mick’s addition to the Central
Board should give shareholders further confidence in the quality of our assets and growth
pursuits. Mick also joins us at a pivotal time as we look ahead to new and significant gas
production and pipeline infrastructure projects to generate shareholder value. Given Mick’s
deep experience in the mid-stream segment of the gas supply chain, I look forward to his
insights and contribution to our future success.”
courtesy of Bell Direct
i do not hold this share
anyone looking for the exit .. this MIGHT be your chance
will CTP spin-off the pipeline JV ( just wondering , no insider knowledge here )
Here's hoping Mick McCormack can get this company firing on all 8 cylinders.
did you check his CV .. i doubt CTP is in any position to buy another company/project
MD of the pipeline JV would make sense to me
float the JV and possibly have enough cash to pay-out MB and have an income stream once the pipeline is in operation ( say keep a 20% interest in the pipeline )
obviously i know nothing official , but Mick seems over-qualified for CTP as it is currently operating like say bringing Kloppers on the board at PAN
Maybe we are getting closer to that "boring annuities" scenario.
McCormack is now on ORIGIN Board. I guess he will absent himself from matters of business to do with Central Petroleum when they arise ? Previous Chair said Central would be working " furiously " to put its ambitions into practise - is there a risk McCormack is now overcommitted ? Lots to do and bring to reality at Central.
am even happier i sold out of ORG now ( sold out of IPL when they signed an agreement with CTP )