Madagascar Oil Names Directors, General Counsel

Madagascar Oil announced that Brian Lemke and Bob Rooney have joined the company's Board of Directors as independent directors. The company also announced that Bruce Murchison has joined as the company's General Counsel.

Lemke has spent over 20 years in the Canadian oil and gas business and has served as Chief Financial Officer, audit committee chairman and board member at a number of private and publicly traded oil and gas companies. Currently, Lemke serves as the Chairman of Laricina Energy and Cordero Energy, each an oil and gas company with Canadian operations. Formerly, Lemke was a director of Deer Creek, a TSX-listed company, which was acquired by Total.

Rooney brings to the company's board over 20 years of legal and commercial experience in the oil and gas industry. Mr. Rooney is a co-founder and currently serves on the boards of Engineered Drilling Solutions (Chairman), Temple Energy and Ferus Trust. Rooney also serves on the boards of MGM Energy, Cordero Energy and Gentry Resources. Previously, Rooney was a partner at Bennett Jones, a prominent Canadian law firm, serving on the firm's Executive Committee and heading the firm's Energy and Natural Resources group.

Murchison joins Madagascar Oil as General Counsel, with more than twenty years of experience in energy-related law practice, including positions with Texaco, Celeron and Nuevo Energy. Murchison brings a wealth of experience in managing shareholder, board and other corporate matters.

Alex Archila, CEO and interim Chairman of Madagascar Oil, said: "We are excited to welcome two strong new independent directors to our board. Brian Lemke and Bob Rooney's oil sands, capital markets, commercial and financial experience in the Canadian oil and gas industry will bring an important and invaluable perspective to our independent board.

"We are also delighted to have Bruce Murchison join the company as General Counsel. Bruce's legal experience in the energy sector will be critical as Madagascar Oil executes its business plan and moves forward with development of its assets.''

Headquartered in Houston and domiciled in Bermuda, Madagascar Oil Limited is an oil and gas exploration and production company focusing on development of onshore heavy-oil resources and exploration of onshore conventional oil and gas prospects in Madagascar. Through its subsidiaries, Madagascar Oil SA and Majunga Oil SARL, the Company holds interests in seven production-sharing contracts, including the large Tsimiroro heavy-oil and vast Bemolanga ultra-heavy oil fields, which contain more than 10 billion barrels of recoverable OIP according to independent appraisals.


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