Kairiki Energy: A New Name and a New Focus
Kairiki Energy is a Perth based company listed on the Australian Stock Exchange with oil and gas interests in the Philippines.
Following shareholder approval at the general meeting held on 4 September 2007, the Australian Securities and Investments Commission registered a change of name for Yilgarn Gold Limited. The name change to Kairiki Energy Limited will be effective with ASX on Tuesday, 11 September 2007 and the company's new ASX code will be "KIK".
Kairiki Energy Limited is pleased to announce that with the change of name the company has refocused its business and is strengthening its oil and gas interests. In March 2006 the company signed an agreement with Nido Petroleum Ltd, to farm into service an oil and gas block in the Philippines.
The past year has been one of transition for the Company. In particular, the composition of the Board and management has changed and the main focus of the company has been on its oil and gas operations, with the Company actively pursuing a farm-out of its mineral interests, namely gold mining in Western Australia.
The Directors believe that the new name, Kairiki Energy Limited, better reflects the main business of the Company and its plans for a strong and exciting future.