Proactive Investor's  Instablog

Key Petroleum (ASX: KEY) has appointed Rex Turkington as a non-executive director and director Dennis Wilkins as its acting chairman.

Turkington is a corporate advisor and economist with extensive experience with equities, derivatives, foreign exchange and commodities, and has participated in numerous corporate initial public offerings and capital raisings for listed exploration and mining companies.

He is currently a director of an Australian corporate advisory company and vanadium explorer TNG Limited (ASX: TNG).

Key has also appointed non-executive director Dennis Wilkins as its acting chairman following the resignation of chairman Craig Marshall's resignation from the board

Wilkins will hold the role while the company searches for a suitable replacement.

Key will soon participate in the drilling of the Cyrene-1 well in the Canning Basin by Buru Energy (ASX: BRU).

This targets five million barrels of recoverable oil and can be rapidly brought into commercial production thanks to its proximity to the NW Highway to Port of Broome.

Key is also divesting its non-core assets, having sold its United Kingdom and Suriname acreage and in talks regarding its Tanzanian and Italian interests.

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