Oilexco Appoints New Non-Executive Director

The Board of Oilexco Incorporated announces the appointment of Anne Marie Cannon as a non-executive director with immediate effect.

Anne Marie Cannon is currently a Senior Advisor to Morgan Stanley's investment banking energy team, where she has worked since 2000. She is one of the upstream oil and gas industry's most experienced operators with over 25 years experience covering senior roles within both investment banking and UK quoted independents.

Anne Marie's oil and gas industry experience started at Shell in 1981. Following Shell she moved to Thomson North Sea as Business Development Manager. In 1996 she joined Hardy Oil & Gas where she joined the Board and helped build Hardy's international portfolio over a four year period.

Within investment banking Anne Marie co-led J.Henry Schroder Wagg's UK Energy team specialising in European upstream M&A. Over the last twenty five years she has led a significant number of oil and gas transactions.

Anne Marie Cannon commented, "Oilexco's development into a leading North Sea operator has been extremely impressive. I am pleased to be joining the Board and hope that I can help in taking the Company to its next stage of growth."

Art Millholland, CEO of Oilexco, commented, "Anne Marie's experience within the oil and gas industry and investment banking will be extremely beneficial to Oilexco as we look to develop the Company into a leading oil and gas Independent. I am delighted she has agreed to join the Board; her appointment is a real coup for Oilexco."