Bill Murray Named President of Sovereign Oil & Gas

Sovereign Oil & Gas

Sovereign Oil & Gas Company II, LLC reports that C. W. "Bill" Murray, Jr. has joined the Company in the position of President, reporting to the Chairman and CEO. Mr. Murray is a senior upstream executive and petroleum engineer with over 30 years experience in the oil and gas business both onshore and offshore. Among these, he has 17 years of international experience living abroad, managing production operations in Colombia SA and Indonesia.

Mr. Murray most recently served as the Executive Vice President/General Manager for CNOOC SES Ltd. where he was primarily responsible for the Southeast Sumatra (SES) Exploitation Department, the Gas Project and QHSE, with accountability for all other outside operated properties in Indonesia. Preceding this position, he was the President/General Manager for Repsol YPF Southeast Asia for six years and was responsible for the management of all Repsol-YPF assets in Southeast Asia. During this period (1996-2002) he directed an organization of more than 1,100 expatriate and national staff in the region, managing peak crude oil production of over 220,000 bopd.

Mr. Murray served as both an infantry and aviation officer in the U. S. Marine Corps and piloted F-4 Phantom jets during the Vietnam conflict. He is a graduate of the Naval Flight School and University of West Florida with a MS degree and also has a BS degree from The U. S. Naval Academy.

J. M. (Joe) Bruso, Jr., Sovereign's founder, CEO and former president, will assume the title of Chairman and will continue as the Company's CEO. Mr. Bruso said, "It has been a pleasure working closely with Bill over the past 9 months as he has consulted for us on a variety of projects in Southeast Asia. Sovereign will continue to maintain its primary focus on West Africa, particularly the Gulf of Guinea, but Bill's intimate knowledge of South American and Southeast Asian operating environments give Sovereign the additional and immediate capability to create value for our partners and clients in those regions."

Sovereign is a privately held Texas corporation with its headquarters located in Houston, Texas. Sovereign is an international upstream oil and gas project developer, and has completed nine major upstream property transactions in the Gulf of Guinea in recent years involving bonuses and work commitments totaling approximately US$400 million.

The Company is currently in the third year of an exclusive joint development agreement with Syntroleum (NASDAQ: SYNM) to source upstream E&P projects for Syntroleum worldwide. Syntroleum owns a proprietary process for converting natural gas or synthesis gas derived from coal and other carbon-based feedstock into synthetic liquid hydrocarbons. Syntroleum plans to use its technology to develop and participate in natural gas and coal monetization projects in a number of global locations.