Valiant Waves Goodbye to Finance Director

Valiant announced that Mr. Steven Edgley, currently Finance Director, has informed the Group of his intention to step down from his position to pursue another opportunity.

Following an extensive executive search, Valiant is delighted to announce that Mr. Mark Jonathan Lewis, 44, will be joining the Company during April 2010 as Chief Financial Officer. Mr. Lewis, FCMA has an engineering degree from Oxford and spent his early career in strategy consulting. He has held senior finance roles in RAC plc and De Beers where, for the last three years, he was CFO of Element Six their independently managed industrial diamonds joint venture. He is also a member of CIMA's governing council.

Mr. Edgley will remain with the Company for a short time following the appointment of Mr. Lewis to ensure a suitable transition period.

Valiant would like to thank Mr. Edgley for his dedicated service to the Company over the past three years during which the business has rapidly grown into a listed, full-cycle exploration and production company.

Peter Buchanan, CEO, commented, "I would like to personally thank Steve for the significant contribution he has made to the business since joining in 2007, including helping Valiant make the transition from a private to public entity. We are extremely pleased that Mark has agreed to join Valiant and look forward to working closely with him in continuing to deliver future growth in the business."