FSE - Firestone Energy Limited - Appointment of Chief Executive Officer

FSE - Firestone Energy Limited - Appointment of Chief Executive Officer         
FIRESTONE ENERGY LIMITED                                                        
(formerly: Centralian Minerals Limited)                                         
(Incorporated in Australia)                                                     
(Registration number ABN 058 436 794)                                           
Share code on the JSE Limited: FSE  Share code on the ASX: FSE                  
ISIN: AU000000FSE6                                                              
(SA company registration number 2008/023973/10)                                 
("FSE" or "the Company")                                                        
Appointment of Chief Executive Officer                                          
Firestone Energy Limited ("FSE" or "Firestone") is pleased to announce the      
appointment of Mr. Garth Higgo to the position of Chief Executive Officer with  
immediate effect.                                                               
This significant appointment follows the recent shareholder approval of the     
acquisition of two coal tenements in South Africa through a joint venture       
agreement with Sekoko Coal.                                                     
Mr. Higgo has extensive senior executive experience in engineering and financial
disciplines in Australia and South Africa.  He has also been responsible for    
managing joint venture arrangements involving Black Empowerment Enterprises     
(BEE).  He relocated to Perth from South Africa in 2006.                        
Mr. Higgo was previously Chief Operating Officer (COO) of Consolidated Minerals 
Limited. During this time, he was responsible for management and operating      
efficiency of the company`s three mining divisions. He was Head of Corporate    
Development and Strategy before his appointment as COO.                         
Prior to joining Consolidated Minerals, he was Group Manager - Joint Ventures,  
Corporate Finance and Business Development for Anglo Platinum Limited.  His     
familiarity with operating in South Africa, particularly with BEE JV partners,  
is a distinct advantage for Firestone.                                          
The Board sees the appointment of such an industry experienced Chief Executive  
Officer as a key element in the implementation of Firestone`s strategy, which,  
in partnership with Sekoko Coal, aims to unlock the substantial latent value in 
the Waterberg Coalfield of South Africa.                                        
The scheduled drilling programme on the Vetleegte farm has concluded and the    
Company now awaits assay results from laboratories, which are expected to be    
available in the new year.  A new drilling programme has been approved for the  
Olieboomsfontein farm and is scheduled to commence at the beginning of December.
Pretoria                                                                        
24 November 2008                                                                
Sponsor                                                                         
River Group                                                                     
Date: 24/11/2008 07:05:15 Supplied by www.sharenet.co.za                     
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