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LNG Ltd founder joins TTE

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LNG Industry,

TTE Petroleum Ltd has announced the appointment of oil and gas executive, Maurice Brand, as the company’s Executive Chairman with immediate effect.

Mr Brand, the founder of Liquefied Natural Gas Ltd (LNG Ltd), has also become a major shareholder in TTE.

The company has also announced the appointment of Garry Triglavcanin as Executive Director.

Non-Executive Director, Paul Garner, said: “As previously communicated to shareholders, TTE has been assessing a number of energy projects for some time and the global energy related opportunities presented by Maurice Brand and Garry Triglavcanin have the potential to deliver significant value to our shareholders and capable of being advanced in a very short time frame. They are compelling.

“Maurice Brand has an outstanding track record in the global oil and gas sector and has a proven ability to convert concepts into very large energy projects. This is best evidenced by the company he helped create in LNG Ltd, a significant ASX-listed success story.

“Maurice also becomes a major shareholder in TTE investing his own capital in the company, and we are confident that he will deliver long-term shareholder value to TTE.

“Maurice and Garry have worked together for over 25 years across the energy value chain and their combined expertise, industry knowledge, capital markets expertise and global network of investors augers well for the future of TTE. We also welcome a number of new major shareholders who have participated in the Placement and conversion of the notes who have previously supported Maurice with LNG Ltd.”

Mr Brand added: “TTE presents an excellent investment opportunity and a platform to create a global energy business at the right time in the cycle. We have been assessing a number of unique energy opportunities that we will look to progress in early 2017. The funding from this Placement provides the necessary funding to deliver some near-term value to shareholders and we look forward to progressing these opportunities. I am also delighted to become a major shareholder of TTE and also thank the support of a number of early shareholders of LNG Ltd who are joining me on the TTE share register through this Placement and conversion of notes.”

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