Parkmead Regulatory News (PMG)

For release at 07.00 on Tuesday 8th March 2011

THE PARKMEAD GROUP PLC

("Parkmead" or the "Group")

Parkmead makes Key Appointments to Management Team

The Parkmead Group is pleased to announce a number of senior appointments to its oil and gas management team, which bring a wealth of additional experience and an exceptional track record in the E&P industry. These new appointments, coupled with those previously announced to the Board of Directors, position Parkmead with all the key skills required to build a significant new independent oil and gas company.

Parkmead's growth plans will be delivered through the combined knowledge and expertise of its team members, benefitting from their extensive oil and gas industry, and government, relationships which have been developed over many years in the upstream energy sector.

The recent appointments to the core team include Dr Colin Percival, Shona Kiloh, Julie Forsyth and Kathryn Ramsay, who have all joined from Dana Petroleum plc ("Dana").

Dr Colin Percival is Group Exploration Manager at Parkmead, having previously held the position of UK Exploration Manager with Dana. With more than 30 years of experience in his field, Colin held various senior positions at BP and British Borneo before joining Dana in 2003. At Dana, he was responsible for the geoscience work across the company's operated assets, new ventures and extensive exploration, appraisal and development portfolio. Colin holds a first class honours degree in geology, and a Ph.D. in sedimentology from Durham University.

Shona Kiloh has joined Parkmead as Chief Economist. Over the last 12 years Shona spearheaded all the valuation work at Dana as the company's most senior economist. Prior to Dana, Shona worked with the Chevron Corporation and she has more than 20 years of experience in economic modelling, specialising in evaluating acquisitions and new business opportunities in the oil and gas industry. Shona also has an honours degree in Economics and Mathematical Science.

Julie Forsyth is Group Legal Manager at Parkmead. Julie joins Parkmead from Dana where, during the last seven years, she was Senior Legal Advisor working on some of Dana's largest transactions, such as the acquisition of PetroCanada Netherlands BV. She has 14 years experience in the oil and gas industry covering all areas of upstream oil and gas transactions, having previously held the position of Senior Legal Advisor at Total. Julie qualified as a solicitor in 1994 and is also a Notary Public. 

Kathryn Ramsay has the dual responsibilities of Business Development Manager and Investor Relations at Parkmead, having previously been Investor Relations Manager at Dana. Kathryn has 10 years of corporate finance and business development experience. Prior to working at Dana, Kathryn held senior positions at Simmons and Company International, Bank of Scotland Integrated Finance and at Venture Production plc. Kathryn holds a first class honours degree in Accountancy and Finance and is a member of the Chartered Institute of Management Accountants.

These new team members further strengthen the Group's executive capacity. They have joined Tom Cross, Executive Chairman; Niall Doran, Chief Executive Officer; Donald Mackay, Chief Financial Officer; and Kevin Holley, Group Financial Controller, who were already in place at Parkmead.

In addition, Philip Dayer and Iain Rawlinson, who were Non-Executive Directors at Dana prior to Dana's sale in 2010, both joined the Parkmead Board in December.

The whole executive team will be based at Parkmead's newly established headquarters in Aberdeen, and has already begun working on a number of identified growth opportunities.

Tom Cross, Executive Chairman commented:

"This is an exciting time in the oil business. Parkmead now has an exceptional platform for growth with a highly experienced, motivated and focused team, who share a proven track record of creating value for shareholders."

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Notes to Editors:

The Parkmead Group plc (the "Group") is an independent oil and gas company that is listed on AIM on the London Stock Exchange (symbol: PMG).

The Group's primary investment focus is in the oil and gas exploration and production sector at both the asset and corporate levels.

Over the last year, Parkmead's capabilities have been significantly enhanced through the acquisition and integration of Aupec Limited ("Aupec"). As a result, going forward the Group plans to actively pursue investment and advisory opportunities throughout the North Sea, and internationally, using the combined capabilities of the enlarged Parkmead Group.

Through its wholly owned subsidiary, Aupec, the Group provides petroleum economics, benchmarking and valuation expertise to a wide range of government bodies and international oil and gas companies. Aupec has to date worked with over 100 governments, national oil companies, majors and independents, across the world, as well as a number of multi-national agencies such as the European Commission and the World Bank. Aupec is currently undertaking an important benchmarking project for a group of the world's most eminent super-majors, including ExxonMobil, Shell, BP, Total, ConocoPhillips and Chevron.

For further information please refer to Parkmead's website at www.parkmeadgroup.com and Aupec's website at www.aupec.com