Austin Exploration Limited has announced the appointment of petroleum industry executive, Richard Cottee as a Non-Executive Chairman, effective from February 24.


Mr Cottee was previously CEO of Queensland Gas Corporation before being acquired by British Gas (BG Group) for $5.7 billion. More recently, Mr Cottee was CEO of Nexus Energy.


Mr Cottee’s appointment was announced by outgoing Chairman Dr Mark Hart, who will is due to resign the role of Chairman but continues as President and executive director of the company.


“We are extremely enthusiastic about having someone of Richard Cottee’s international energy experience, outstanding reputation for driving company  market development, and intense business savvy to join out Company as Chairman,” Dr Hart said.


Mr Cottee’s extensive experience with Queensland Gas Company saw him hold the position of Managing Director from 2002 until 2008, during which time he grew the company’s market capitalization exponentially from around $20 million to an $5.7 billion before its purchase by BH Group.