Medco Energi US Appoints New President

Medco Energi has appointed L. Dale Wooddy III as its new president. Wooddy, a former Chevron and Ocean Energy executive has nearly 30 years of international and domestic oil and gas related experience.

A native of Houston, Texas, 50-year-old Wooddy has assembled and successfully led teams that have evaluated, developed, and operated world-wide mineral interests as well as US onshore and offshore Gulf of Mexico properties. He earned Chevron's highest honor -- The Chairman's Award -- for his participation in the company's in-house consulting team responsible for merging Chevron and Gulf Oil's worldwide research and US exploration and production activities.

As an entrepreneur, Wooddy founded the petroleum industry's first dedicated web-based oil and gas property brokerage and has served as an officer and principal in a variety of oilfield service related businesses.

His past international assignments include General Operations Manager for ChevronTexaco in Kazakhstan and Papua New Guinea and as Senior Vice President of Ocean Energy, Inc. and President of Ocean Energy International overseeing operations in West Africa, Egypt, the Indian Sub-Continent, the Middle East, Russia, and Indonesia.

"I am really excited about joining the Medco Energi US team. These are exciting times in our industry with many opportunities for growth and Medco US has a very aggressive strategy in place to take full advantage of such opportunities," said Wooddy.

Medco Energi US, a wholly owned subsidiary of PT Medco Energi Internasional Tbk, is engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Gulf of Mexico.

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