Deep Sea Supply Selects New CFO

Deep Sea Supply has appointed Espen Skadal as the new Chief Financial Officer (CFO) of Deep Sea Supply Plc (DESSC). Skadal comes from the position as Investment Director in Agder Energi AS, where he heads the corporate finance business and was Managing Director of Agder Energi Venture AS.

Before this he held positions in Orkla ASA Investment Division as portfolio manager and financial analyst, including Orkla Swiss Branch in Zürich. He has also experience from DnBNOR as account manager in the Oil& Gas department. Espen Skadal holds an MBA from the Norwegian School of Economics and Business Administration (NHH), including the degrees Certified Financial Analyst and
Certified Portfolio Manager.

Skadal will start in his new position in mid-March 2010. We are very pleased with the recruitment of Espen Skadal as new CFO. Combined with a broad experience from investment and financing operations, Skadal also knows the oil services market and the stock market as a former financial analyst. We expect him to contribute positively to the operations and further development of the company.