Mediterranean Oil & Gas Names Sergio Morandi to Post of CEO

Mr. Sergio Morandi has been appointed to the Board of Directors of Mediterranean Oil & Gas as Director and Chief Executive Officer. Mr. Morandi is 52 years old, with 27 years experience in the oil industry, much of the time involved directly in exploration, the management of geophysical operations and the acquisition, processing and interpretation of seismic data.

Mr. Morandi is a co-author of 7 publications and has given over 25 presentations at international conferences in Italy and the Mediterranean region. He is a recognised expert in thrust belt exploration and geophysics.

Of particular importance to MOG, Mr. Morandi was professionally involved with two of the Company’s most significant assets. During his service with Elf Group he was involved with the discovery of Ombrina Mare Oil Field and as Exploration Manager with Elf Italiana, he was involved in the evaluation of the Monte Grosso prospect.

Mr. Giovanni Catalano’s role with the Company will change from Chief Executive Officer to a Non-Executive Director and a consultant exclusive to MOG.

Mr. Catalano joined the Company in its infancy for a specific term as CEO, which is now coming to an end. He has served the Company particularly well and over a relatively short time enabled the Company to consolidate its separation from the previous ownership and build a solid infrastructure particularly in human resources. Mr. Catalano’s contribution to the establishment of the Company’s business, and his hard work and commitment to source rigs and personnel in a very tight market merits recognition and is to be commended. Mr. Catalano has committed to continue his valuable contribution to the future growth of the Company in his new role.