PEARL Energy Strengthens Thai Operations

PEARL Energy has appointed Michael A. Bruce as Chief Financial Officer based in Singapore effective September 12, 2005, and Mr Warren Wauke has been appointed Vice President Finance & Administration for PEARL Oil (Thailand) Limited to be based in Bangkok, effective on the same date.

"These are two critical appointments for PEARL to strengthen our Thai operations following the start of Jasmine A production this year and as we build on that production base with Platforms B and C under construction in 2006. Michael comes with a wealth of experience in the oil industry and in Southeast Asia, and will be a significant addition the team as we take the Company forward," said Keith Cameron, PEARL's Managing Director and Chief Executive Officer.

Mr. Bruce, who qualified as a Chartered Accountant in 1973, will be responsible for all fiscal and monetary matters and will play a key role in PEARL's management team. He has more than 25 years of experience in the oil industry, working with companies including PetroChina International, Devon Energy Indonesia Ltd, Kufpec (Indonesia) Ltd, Trans Canada Pipelines Ltd, Canada North West Energy Ltd and Asamera Oil (Indonesia) Ltd.

Mr Wauke assumed the role of CFO with PEARL on February 1, 2004 and was a member of the management team that steered the Company through its listing on the Main Board of the Singapore Stock Exchange on April 20, 2005. He is an accountant with more than 35 years of experience, of which the past 15 years have been directly related to finance in the oil and gas industry.

"Warren will considerably boost the management team in Thailand, where our operations are growing rapidly. By the end of the year, the Jasmine A platform will account for more than 50% of the Group's daily production and construction of the additional Jasmine infrastructure will be fully underway," said Mr. Murray Hesje, PEARL's Chief Operating Officer and President of PEARL Oil (Thailand) Limited.

Mr. Bruce will be based at PEARL's corporate head office in UOB Plaza 2 in Singapore. Mr. Wauke's office will be located at SCB Park Plaza in Bangkok.

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