Tap Oil Appoints CEO, Managing Director

Tap Oil announced the appointment of Mr. Troy Hayden as Chief Executive Officer and Managing Director of the Company. The appointment is effective from December 1, 2010.

Mr. Hayden brings an appealing mix of skills to the role: leadership, financial and general management expertise, including overseeing exploration and production activities, and over 20 years experience in the resources and petroleum industries.

Mr. Hayden joins the Company after a 12 year career at Woodside Petroleum, where he held a number of positions, including Acting CFO, Vice President of the USA Business Unit and Vice President of the Pluto Business Unit. Since leaving Woodside in 2008, he has undertaken a number of financial and commercial consulting projects working with First Quantum Minerals and QR National. He has built and maintains a wide range of senior level relationships across the petroleum, resources and financial sectors in Australia and internationally.

Mr. Hayden succeeds Mr. Peter Stickland, who will remain as an adviser for an interim transition period. The Board has previously reported Mr. Stickland's intention to resign from Tap.

Tap's Chairman, Dr. Neale Taylor commented, "Tap's Board is pleased to welcome Troy as CEO and Managing Director. He has a strong drive to succeed in the role by generating growth in value for Tap's shareholders. His experience will be a benefit as Tap progresses the development of its recent acquisition of a major interest in Northern Gulf Petroleum as well as exploitation of Tap's other assets and interests. Troy impressed the Board with his leadership, drive and strategic and decision-making skills. This is an exciting time for Tap and we are well positioned to take advantage of existing and new opportunities."

Mr. Hayden commented, "I'm looking forward to building on the growth strategy that Peter Stickland and his team have initiated at Tap as highlighted by the recent successful acquisition of the Gulf of Thailand assets."


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