MPF Expands Houston Team

MPF Corp Ltd. reported that the Houston based OPT-MPF Operating Company has expanded its team with senior professionals holding extensive experience from the offshore drilling and production industries.

In December 2006, MPF Corp announced that it had formed a business alliance with OPT International LP which lead to the establishing of OPT-MPF Operating Company. Over the last few months the team has been expanded significantly to build up a top class project execution- and operating team.

The recent senior appointments further strengthens MPF Corp's organisation, by adding value and experience to the project in close cooperation with the Oslo based project team and various site teams.

The OPT-MPF Operating Company now includes the following senior managers:

Dave Toalson

Mr. Toalson has more than 30 years of marine drilling experience. Prior to co-founding OPT 6 years ago, he served for more than 26 years with Reading & Bates in various engineering and management positions including president of R&B Development Co. which was extensively involved in leading-edge deepwater drilling and floating production activities. Mr. Toalson now acts as COO of the group overseeing both the project management and the build up of the operating organization.

Donn Pedersen

Mr. Pedersen has more than 27 years of experience in the oil & gas industry. Prior to co-founding OPT, he served in various engineering and management positions with Shell, Mobil and R&B Development Company. He also served as initial general manager and president for 2 start-up oil & gas companies. Mr. Pedersen acts as SVP Business Development and Marketing and in addition oversees the various staff functions at the Houston office.

William L. (Bill) Ellis – Operations Manager

Mr. Ellis has more than 35 years of drilling rig experience. Prior to becoming Operations Manager for OPT-MPF Corp he served 9 years as Regional Operations Manager for Transocean and predecessor companies in various US and overseas locations.

John McMullen – Project Manager –MPF-01

Mr. McMullen has more than 35 years of diversified marine offshore experience. A Project Management professional with experience in the management, engineering, installation, testing, commissioning and operations of offshore drilling vessels, Mr. McMullen has held management positions in several companies such as Seadrill, Frontier Drilling, Transocean and Reading & Bates.

Roger W. Mowell – Senior Marine & Drilling System Advisor

Mr. Mowell has over 50 years experience in marine terminal design, floating drilling research and marine drilling rig design. He is a member of SNAME and has served on the Mobile Offshore Drilling Unit Advisory groups both for ABS and DnV. Mr. Mowell has held several senior management positions at Reading & Bates and management positions at Esso Research and Development.

L. Dean Silvers – Procurement Director

Mr. Silvers has more than 26 years of procurement experience in the drilling industry. Prior to becoming Procurement Director for OPT-MPF Corp he served 13 years as Senior Director and General Manager of purchasing for Nabors Industries Inc.

MPF Corp. Ltd. was formed in 2006. The company intends to build a fleet of Multi Purpose Floaters, combining drilling and production, storage and offloading (FDPSO) at ultra deep waters.