Transmeridian Exploration Hires V.P. of Operations

Transmeridian Exploration reports that Steve Thornton has joined the company and will assume the duties of a newly-created position, Vice President of Operations. Mr. Thornton, a petroleum engineer, will be responsible for all engineering and operational functions for international and domestic projects and will report to the President and CEO.

Mr. Thornton has extensive senior management experience as well as operational experience in several foreign counties. His professional career spans 30 years working with several major oil companies as well as small independents, with the majority of his assignments focused on international oil and gas development projects. He has been responsible for the management of drilling and production operations in a number of foreign locations, including Algeria, the Ivory Coast and Western Siberia. The company will rely on Mr. Thornton to spearhead the company's development program in Kazakhstan as well as its entry into Azerbaijan and other new projects in the region.

Management Comments

``We are confident in our choice of Steve for this critical position,'' commented Lorrie Olivier, President and CEO, ``he is a hands-on manager with a proven track record of completing projects on time and within budget.'' Mr. Olivier goes on to say; ``His experience overseeing production and development programs in the Caspian Sea area of the FSU will be invaluable to the continued growth of Transmeridian. Steve adds a dimension to our management team that is vital to our ability to successfully operate in this region.''