Neptune Oil & Gas Ltd Names New CEO

Mr. Stein E. Giljarhus, the present COO, has been appointed CEO of the company, replacing Mr. Idar A. Iversen.

Mr. Iversen will be engaged in business development activities for the company.

Mr. Stein E. Giljarhus has 31 years of industrial experience in the drilling and well servicing business, and has prior to joining Neptune in April 2007, been Managing Director for a major subsidiary of Transocean, and also CEO of the AGR Ability Group ASA.

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