SOURCE: Armada Oil, Inc.

May 16, 2012 09:35 ET

Armada Oil, Inc. Appoints Kenneth T. Hern, Former President of Texaco Saudi, Inc., and Finance Industry Veteran Will E.D. Matthews to Board of Directors

Appointments Follow Name Change and Recent Acquisition Increasing Company's Key Acreage Position in the Niobrara Shale Formation

HOUSTON, TX--(Marketwire - May 16, 2012) - Armada Oil, Inc. (OTCBB: AOIL), an emerging independent oil and gas company, today announced that it has appointed international oil and gas executive, Kenneth T. Hern, former president of Texaco Saudi and finance industry veteran Will E.D. Matthews to its Board of Directors, effective immediately.

"Ken's global executive leadership roles with Texaco, combined with his experience advising early-stage public companies, uniquely position him to counsel Armada Oil at this pivotal time in our development," said James J. Cerna, President and CEO of Armada Oil, Inc. "Correspondingly, Will's nearly two decades in investment banking, private equity and hedge funds in U.S., Canadian and Asian markets, will help facilitate growth following our recent acquisition of Armada Oil, Inc., enhancing our portfolio with an unprecedented 25,000+ acres of prime acreage in the Niobrara formations in Carbon Country, Wyoming."

Mr. Hern joins Armada Oil succeeding a 25-year-career with independent oil giant Texaco, now part of Chevron, the multinational energy corporation, where he served as President of Texaco Saudi, Inc., between 1981-1984, as Vice Chairman and Managing Director of Texaco Nigeria Limited, from 1984 through 1989 and as President of Texaco Brazil from 1989 through 1993.

He also serves on the Board of Directors of Mesa Energy Holdings, Inc., a publicly traded oil and gas exploration and production company, and Flotek Industries, Inc., a supplier of drilling and production related products and services to the energy and mining industries. He was previously Chairman of the Board and CEO of Nova Biosource Fuels, Inc.

Mr. Hern earned a Bachelor of Arts in Chemistry from Austin College and a Master of Science in Organic Chemistry from North Texas State University.

Mr. Hern joins the Board along with Will E.D. Matthews, who currently serves as Principal of Macritchie Metals Pte Ltd in Singapore, a mining boutique focused on acquiring, operating and financing minerals projects as well as providing capital raising services.

Previously, Mr. Matthews held the position of Managing Director at GS Investment Strategies from 2007-2009, Aramanth Advisors LLC from 2003-2006 and Principal at Polar Equity Capital, LLC from 2002-2003. He also served as Vice President, Mergers & Strategic Advisory Group with Goldman, Sachs & Co. from 1999-2002; Vice President, Private Equity at BMO Nesbitt Burns Equity Partners, Inc. from 1996-1999 and as an associate with UBS Securities, Inc. from 1989-1992. He received a Master of Business Administration at the University of Western Ohio, Richard Ivey School of Business and a Bachelor of Science in International Business and Finance from New York University's Stern School of Business.

About Armada Oil, Inc. (www.ndbenergyinc.com)

Armada Oil, Inc. is an emerging independent oil and gas company, exploring, developing, producing, and marketing crude oil and natural gas from various known prolific and productive geological formations. It holds interests in and around the Laramie and Hanna Basins in Southern Wyoming that includes more than 25,000 acres in the Niobrara formation and a footprint in the Eagle Ford shale play in Texas. To date, Armada Oil, Inc. has acquired 1,280 acres, engineering data, 2D seismic and has an option to purchase an additional 23,700+ acres.

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It is important to note that actual outcomes and results could differ materially from those in such statements due to numerous factors beyond the Company's control including misinterpretation of data, inaccurate estimates of reserves, uncertainty of the requirements demanded by governmental agencies, Company's ability to raise financing, breach by third-parties, inability to retain employees/consultants, competition for equipment, inability to obtain permits, delays in operations, the likelihood that no commercial quantities of resources are found/recoverable, and our ability to participate in the exploration and completion of development programs. Additional information on the Company's risks can be found in the Company's periodic filings filed with the SEC at www.sec.gov.

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