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The Group is engaged in the upstream oil and gas industry, with operations in the USA.
AusTex Oil Limited has adopted systems of control and accountability as the basis for the administration of corporate governance. In keeping with the spirit of the ASX Corporate Governance Principles and Recommendations, the company has followed each recommendation where the Board has considered the recommendation to be an appropriate benchmark for corporate governance practices, taking into account the evolving status of the Company and Board structure.
Further information about the Company’s corporate governance practices is set out on the Company’s website at www. austexoil.com. Information published on the Company’s website includes a copy of this corporate governance statement.
The Company’s corporate governance practices are structured with reference to the 3rd Edition of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, as follows.
Corporate Governance Statement