Mr Barton lodged a notice with the Australian Stock Exchange three weeks ago calling for all six board members, including himself, to stand for re-election at the company's annual meeting next month. However, Mr Barton withdrew his request after the resignation of Mr Blakiston.

Amity chairman Richard Elliot has denied boardroom bickering over the last couple of months has led to the share price slumping to two-year lows below 50 cents.

"I am very pleased with the interaction that we have at the board, we've been having most constructive board meetings, we've recognised that changes needed to be made and directors took the responsible position to make a lot of management changes and I think it's going to be a bright, sunny future," Mr Elliot said.

Instead, Mr Elliot attributed the slumping share price to gas sales being under analyst's expectations, a bearish stock market, political tension in the Middle East and finally, conversion of the company options, which had put selling pressure on the shares while people cashed-up to fund the conversion.