Warrego Energy : to open Perth office & appoints gas marketing expert

ASX/MEDIA RELEASE

20 January 2020

Warrego to open Perth office and appoints gas marketing expert

• Group CEO and Managing Director, Dennis Donald, relocating to Australia to establish new Perth office and oversee development phase
• Warrego appoints Cathy McKeagney as General Manager Commercial
• Warrego to commence marketing West Erregulla gas in 2020

As outlined at the company's AGM in November 2019, Warrego Energy Limited ("Warrego") has focused its Australian operations on commercialising the West Erregulla gas discoveries in EP469, located onshore Perth Basin, Western Australia. Steps taken to date include the commencement of early stage gas marketing and commercialisation studies, the decision to appoint an independent third party to assess West Erregulla's reserves and resources and the decision establish a Perth office.

Warrego has now set clear goals for the next phase of activity which includes a range of strategic initiatives, personnel changes and key appointments.

Strategic initiatives

Warrego will reorganise its Australian operations to ensure that the development phase for West Erregulla is fully supported and resourced. As part of that process, Group CEO and Managing Director, Dennis Donald, will relocate to Australia for a period from the UK in early 2020, and the company will open a Perth office in the first quarter of 2020 to facilitate commercial, development and gas marketing activities for West Erregulla gas during 2020.

Appointment of Cathy McKeagney as General Manager Commercial

Warrego is delighted to announce that Cathy McKeagney will join the company as General Manager Commercial, and be based in the new Perth office from the first week of February 2020. Cathy's role will be pivotal in developing the company's gas marketing strategy and overseeing commercial matters associated with the West Erregulla development. She will also act as the focal point to coordinate the services and contracts to supply Warrego's gas to the market from wellhead to end- user. With a successful career of over 20 years in the commercial and technical arenas, most recently with Mitsui, AWE and BHP, Cathy is eminently qualified for this key role.

Retirement of David Casey, CEO Australia & Asia-Pacific

Following the reverse takeover of Petrel Energy by Warrego in March 2019, David stepped down as the Managing Director of Petrel and immediately stepped into the role of CEO Australia & Asia-Pacific reporting to Group CEO Dennis Donald. Working with the Operator Strike Energy he assumed the significant role of Warrego's technical representative during the drilling of the West Erregulla-2 well, the deepest and one of the most successful onshore gas wells in Western Australia, which resulted in the discovery of the West Erregulla gas fields. With the discovery phase complete, David has elected to move on to other challenges more aligned with his entrepreneurial skills. David will stand down from his current position in January 2020 and a new operational country manager will be appointed in the next quarter. David will be handing over to the new operational manager in the coming weeks. Warrego would like to thank David for his significant contribution and wishes him continued success in his new ventures.

For further information contact:
Dennis Donald, Group CEO & Managing Director	[phone]
Ian Kirkham, CFO & Company Secretary	[phone]

About Warrego Energy Limited

Founded in 2007, Warrego secured 100% of EP469 located onshore Perth Basin, Western Australia, in 2008. Warrego farmed out 50% of the block and operatorship in 2018 to Strike Energy Limited. In March 2019, Warrego completed a reverse takeover of Petrel Energy Limited which was renamed Warrego Energy Limited, the ASX listing being retained. Warrego is now focused on the development of onshore assets in Western Australia and Spain.

ENDS