Mediterranean Oil Appoints Non-Executive Chairman

Mediterranean Oil and Gas has appointed Michael F.H. Bonte-Friedheim as its Non-Executive Chairman with immediate effect.

Michael Bonte-Friedheim (39) has been a Non-Executive Director of MOG since June 2006. Previously, he was a Managing Director in the investment banking division of Goldman Sachs, focusing on the electricity, gas and utility sectors in Europe. He holds an MBA from INSEAD. Mr. Bonte-Freidheim has also been appointed to the Company's remuneration and audit committees.

Mr. David Lenigas, the Non-Executive Chairman, will continue as a Non-Executive Director of MOG, whilst focusing on his other board directorships within the natural resources arena.

The detailed terms of Mr Bonte-Friedheim's appointment will be finalized in the next few days.

Giovanni Catalano, Chief Executive of MOG commented:
"We are delighted that Michael has agreed to become our Chairman. He is extremely experienced within the European Energy sectors and brings us a leading financial skill set. His expertise will be invaluable to MOG as it looks to develop into a significant oil and gas player in the Mediterranean area. "

Michael Bonte-Friedheim, Non-Executive Chairman of MOG commented:
"I would like to thank David Lenigas for his stewardship of the Company as Non-Executive Chairman which commenced when MOG floated on AIM in November 2005. His on-going support and wealth of knowledge will continue to be very important to the Board.

MOG has all the key fundamentals in place to become a uniquely positioned oil and gas company within the Mediterranean region; a highly experienced management team, plus ownership of some very attractive production, development and exploration assets. I look forward to working with the Board to achieve its ambitious plans."