RAK Petroleum plc Announces Management Changes

United Kingdom, 1 February 2017

RAK Petroleum plc, the Oslo-listed oil and gas investment company, announced the appointment of Ms. Shelley M. Watson as Chief Operating Officer effective today and as Chief Financial Officer effective 30 April 2017.

Ms. Watson has extensive experience in the oil and gas industry in the Middle East, most recently as the General Manager of the Company's predecessor, RAK Petroleum PCL, until the summer of 2014.  She joined RAK Petroleum PCL as Group Commercial Director in 2007 and previously held commercial management roles with Novus Petroleum and Indago Petroleum. Ms. Watson holds a First Class Honours degree in chemical engineering and a Bachelor of Commerce degree from the University of Melbourne.

Mr. Bolurfrushan's resignation as Chief Financial Officer to pursue other opportunities will be effective 30 April 2017, but he will continue as an advisor to the Company.

"We are very grateful for Mr. Bolurfrushan's years of dedicated service and his invaluable assistance in growing the Company," said Bijan Mossavar-Rahmani, Executive Chairman. "Meanwhile, we are very pleased to welcome Ms. Watson to RAK Petroleum plc. Her extensive knowledge of our assets and years of experience in the industry will be invaluable to us as we move forward," he added.

For further queries, please contact:

Kevin Toner

Managing Director

RAK Petroleum plc

Email: kevin.toner@rakpetroleum.uk

About RAK Petroleum plc

RAK Petroleum plc is an Oslo Børs listed oil and gas investment company established under the laws of England and Wales as a public limited company. Its principal holdings are 40.45 percent of DNO ASA and 33.33 percent of Foxtrot International LDC held through Mondoil Enterprises, LLC.  DNO ASA is a Norwegian oil and gas operator active in the Middle East and North Africa. Founded in 1971 and listed on the Oslo Børs since 1981, DNO ASA holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Middle East-North Africa region. Foxtrot International LDC is a privately-held company active in West Africa whose principal asset is a 27.27 percent interest in and operatorship of Block CI-27 offshore Côte d'Ivoire.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



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Source: RAK Petroleum plc via GlobeNewswire