The origins of Leigh Creek Energy

LEIGH CEEK ENERGY effectively began when the South Australian government granted a petroleum exploration licence (PEL 650), covering part of the Leigh Creek Coalfield,  to a private company, ARP TriEnergy Ltd, in November 2014.

ARP TriEnergy then negotiated a reverse takeover of a listed company Marathon Resources, which was floundering after being convicted of environmental damage caused by its uranium exploration at Arkaroola in the Flinders Ranges.

(A reverse takeover is a common and perfectly legal way for a private company to become listed on the Australian Stock Exchange without having to undergo the detailed and costly scrutiny normally required of a company coming to the ASX for the first time).

Marathon's shareholders overwhelmingly approved the deal in August 2015.  ARP TriEnergy director Justyn Peters was promptly appointed executive chairman and David Kit Williams was brought in as managing director.  The following month, Marathon formally changed its name to Leigh Creek Energy Ltd.

Since then Shearwood and all the other directors have been replaced.  Peters remains as executive chairman.

He has had extensive experience in both environmental regulation and underground coal gasification.

He was head of Investigations and Compliance at the Queensland Environmental Protection Authority and later acting director of the QLD EPA  Central and Northern regions, before joining Linc Energy shortly after it listed on the stock exchange in 2006.  

In his six years with Linc Energy, he worked as general manager environment and government relations, general manager business development, executive general manager North Asia and then executive manager of investor relations.

He left about a year before the Queensland Government began investigating environmental damage being caused by Linc, which went into liquidation in May 2016. The liquidated company was eventually fined $4.5 mln, although it unclear if the money will ever be paid.

October 3, 2018