Maurel & Prom Names Canel as CEO of Hocol

Maurel & Prom has appointed Paul-Andre Canel (53, ESCP graduate) as Chief Executive Officer of Hocol (Bogota, Colombia), a wholly owned subsidiary of Maurel & Prom, and Head of Operations in Latin America (Colombia, Venezuela and Peru).

Paul-Andre Canel entered the oil industry in 1975 in Calgary with Chevron. In 1978, he joined the Elf Aquitaine group, is appointed Finance Director for the group's subsidiaries in Norway in 1982, and in Colombia in 1985.

In 1995, he managed new projects in the Middle East and then, was in turn Vice-President of the Tchad and Gabon subsidiaries and Vice-President of the South American subsidiaries.

In the year 2000, he took over as Chief Executive Officer of the TotalFinaElf group's Exploration & Production subsidiary in Bogota, Colombia.

In 2002, Paul-Andre Canel joined Maurel & Prom to work on special projects involved in finance and development.

He was appointed Chief Financial Officer on February 15, 2006.

Michel Hochard (57, ICN Certified Public Accountant) has been appointed Chief Financial Officer of Maurel & Prom, replacing Paul-Andre Canel.

Michel Hochard joined the Finance Department of the Elf Aquitaine Group as an internal auditor in 1980 after gaining experience with an accounting firm. He joined the Exploration & Production division of Elf Gabon in 1982 and in 1988 became Head of Finance, Africa & the Middle East, where he was responsible for coordinating and controlling financial functions for the group's subsidiaries in the region. He was appointed Finance Director at SNEAP and then at Elf Aquitaine Production (after its privatization) and finally at Elf E&P after the restructuring of the group's Exploration & Production activities.

He was appointed Deputy Human Resources Director of Elf E&P in 1997.

In 2001, he joined PricewaterhouseCoopers BPO as Operations Director, Outsourcing France. In 2003, he became a member of the Executive Committee in charge of Legal Matters, Finance and Administration and was involved in developing international activities within the GEOS group, specializing in risk prevention and management.

Michel Hochard will assume his role as Chief Financial Officer of the Maurel & Prom Group as of September 5, 2007.