East Energy Resources Limited - Case Update

John Bumbak and Richard Tucker of KordaMentha have provided an update on their administration of East Energy Resources, a coal exploration and development company whose primary asset is its mining development licence in the Blackall Coal Project located within the Eromanga Basin. With respect to their preliminary investigations, the administrators note that the company was exhibiting indicators of illiquidity from August 2022, but that the company’s directors may have “reasonable prospects of defences”. While no DOCA proposal has been presented at this time, three parties remain in discussions. Unless a DOCA proposal is received prior to the second meeting of creditors on 16 November, the administrators are recommending that the company be wound up.