Equator Exploration CEO Steps Down

Equator reports that Theodore Giletti, aged 62, has agreed to join the Board as a non-executive director. Ted's industry experience in West Africa and his financial background will be invaluable as the Company implements its 2008 business strategy. Ted is currently a director of Banco Africano de Investimentos (BAI), Luanda, and also Angola Capital Partners (ACP). In the past five years, he was a director of the Tanzania Pyrethrum Marketing Company.

Wade Cherwayko has stepped down as the Chief Executive of the company, but will remain on the Board as a non-executive director.

The Board of Directors are pleased to announce that Philip Rand has been appointed to the position of Chief Executive with immediate effect.

The Board regrets that Martin Adams was unable to offer himself for re-election as a director due to other business commitments. The Directors thank him for his invaluable contributions as a director and wish him well in the future.