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Conrad Asia Energy Ltd (ASX:CRD)

ALERT: Price-sensitive ASX Announcement for CRD
Current share price for CRD : $0.495 0.04 (8.79%)+
Announcement
Release
3 Jun 2026 5:15PM
Price at Release
$0.455
Full Release
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Summary
Conrad Asia Energy Ltd has announced a restructuring of its leadership team as the company advances towards the first gas from its Mako Gas Project. Peter Botten has been appointed as Executive Chairman to strengthen engagement with Australian capital markets and oversee the Mako development. Miltos Xynogalas will transition from his role as CEO to focus on Conrad's Indonesian business activities and remain on the Board as an Executive Director. The company is targeting first gas by Q4 2027, having secured substantial funding to transition from an exploration company to a fully funded gas developer.
Key Points
  • Conrad Asia Energy Ltd is restructuring its leadership to advance the Mako Gas Project.
  • Peter Botten appointed as Executive Chairman with a focus on capital markets and Mako development.
  • Miltos Xynogalas will step down as CEO but remain as an Executive Director focusing on Indonesian operations.
  • Company targets first gas from the Mako project by Q4 2027.
  • Conrad Asia Energy has secured over US$280 million of the required US$320 million for the Mako development.
  • Conrad's transition from exploration to a fully funded gas developer is marked by this leadership change.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.