Sky Petroleum Appoints Interim CEO

Sky Petroleum appointed Tobias Gondorf Interim Chief Executive Officer of the company effective December 1, 2011. Mr. Gondorf will succeed Karim Jobanputra, who will continue on the Board of Directors.

Mr. Gondorf has more than 16 years of investment banking experience and most recently as a partner and director with Fortes Capital/ETDDM Corporation, which works with private and institutional investors on investment opportunities requiring up to USD 200 million in equity. Prior experience included Clayton, Dubilier & Rice, a private equity firm, where Tobias was a member of the investment team as well as advising the management teams of various portfolio companies on financial, operational and strategic matters. Tobias began his career with GE Capital in business development in Europe and North America, where he was involved in a significant number of acquisitions and investments for various GE Capital businesses in Europe, North America and Asia. Tobias is a German national and holds degrees from the WHU Otto Beisheim School of Management in Germany, Keio Graduate Business School in Japan and ESSEC in France.

"The appointment of Tobias brings Sky Petroleum a seasoned global executive with the expertise to execute our business plan," stated Karim Jobanputra, Sky Petroleum's current CEO and president. "I look forward to focusing my energies on growth opportunities as well as enhancing shareholder value."

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