Red Spider Appoints Mike Salter as Chairman

Red Spider Technology has appointed industry stalwart, Mike Salter, as Chairman, effective September 1, 2007. Mike brings with him over 30 years experience in the oil and gas industry, for the last 12 years as Chief Operating Officer of Aberdeen-based Abbot Group plc.

The move signals the next stage in Red Spiderís development internationally, building on its strengths in Norway and the North Sea, as Managing Director Chris Oliver explains: "Mike brings with him a wealth of experience in growing a UK-based business on an international scale, through acquisition as well as organically. He also has in-depth knowledge of the drilling and completion market worldwide, which is very much the focus of our business.

"With this level of expertise Mike, as Chairman, will be able to provide the direction and advice to help us fulfil our ambitions to expand further internationally, following our successes in Norway and the Middle East."

Commenting on his appointment, Mike said: "I am delighted to be appointed Chairman of Red Spider Technology. It is an interesting and exciting company with a dynamic management team. The business has excellent prospects for international growth which we hope to realise in the coming years."

Red Spider Technology develops innovative tools to meet the new challenges in the oil and gas industry. With headquarters in Westhill, near Aberdeen, and offices in Stavanger and Dubai, the company supplies innovative downhole tools to the global oil industry, aimed at adding value by reducing client operating time, production costs and environmental risks.

In 2006, Red Spider won a Scottish Offshore Achievement Award in the Most Promising Small company category.


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