Minexco Petroleum Inc.



Minexco Petroleum Inc.

February 13, 2014 03:00 ET

Minexco Petroleum Inc.: Appointment of Non-Executive Director

GIBRALTAR, GIBRALTAR--(Marketwired - Feb. 13, 2014) - Minexco Petroleum Inc. ("Minexco"), the African focused private oil and gas exploration company, announces the appointment of Sverre Skogen as Non-executive Director, with immediate effect.

Mr Skogen has over 30 years' experience in the oil and gas industry and has held several leadership positions, including CEO positions at Aker Maritime ASA (1997-2001), Aker Kværner O&G (2001-2002), and PGS Production (2003-2005) and AGR ASA (2005-2013). Mr Skogen is currently Executive Chairman and CEO at Det Norske where he leads operational development of the Ivar Aasen field and other developments as well as Chairman of AGR Energy and Chairman of AGM (Gib) Ltd.

Mr Skogen has also served on several boards in non-executive positions, including Chair of the Board of Intsok and of Rosenberg Verft. Mr Skogen holds an M.Sc and an MBA from the University of Colorado.

The appointment of Mr Skogen further solidifies the close cooperation between Minexco Petroleum and AGR Energy, formed through their joint venture AGM (GIB) Ltd.

Commenting on the appointment:

Lord Risby, Chairman of Minexco Petroleum, said: "We are delighted to welcome Sverre to the Minexco Petroleum Board. He brings a wealth of skills and industry experience which will be invaluable as we continue with development and production activities in West Africa, in particular the South Deep Water Tano Block. Sverre has achieved numerous operational successes in his career, including most recently as a technical partner in the consortium which discovered the giant Johan Sverdrup field on the Norwegian Continental Shelf."

Notes to Editors

Minxeco Petroleum

Minexco Petroleum is a private oil and gas exploration company focused on managing and developing petroleum projects in West Africa. The Company combines its extensive technical and project management expertise with a strategy of partnering with host country governments and NOCs to identify and obtain low risk, high-quality prospects in areas with proven development opportunities.

Minexco has demonstrated the success of its partnership model through its agreement with Ghana National Petroleum Corporation (GNPC) where AGM Petroleum, a subsidiary of Minexco Petroleum, was selected through a competitive and transparent bid process to become the preferred partner. In December 2013, AGM Petroleum and GNPC received ratification to carry out all petroleum exploration, development and production activities in the South Deepwater Tano Block.

In Sierra Leone, Minexco holds 90% equity interest and is operator of Block SL-07A-10.

www.minexcopetroleum.com

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