Carbon Energy Ltd (ASX:CNX) and the chief executive officer, Morné Engelbrecht have agreed to extend his tenure from the 17th June 2016 to the 12th August 2016.
He had elected to move on to pursue an opportunity in the oil and gas sector after almost five years with the company.
The chairman, Dr. Chris Rawlings said, "I thank Morné for his valuable contribution during some very challenging times.”
The company is expanding into other regions of the world.
To lead this growth the company said it is seeking a new leader with appropriate skills, aligned to conducting international business, particularly in Asia, "to take the Company forward during its next stage of growth."
The company received $3.48 million from a renounceable rights issue which took available cash to $3.96 million after the March 2016 quarter.
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