Exillon Energy : Appointment of three new independent directors

Exillon Energy plc ( Exillon Energy plc ("Exillon Energy", "Exillon" or the "Company")

Appointment of three new independent directors

28 May 2014, Exillon Energy (EXI.LN), ("Exillon Energy", "Exillon" or the "Company"), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce the appointment of Roman Kudryashov, Alexander Markovtsev and Natalya Shternberg as independent non-executive directors of the Company.

The new directors, whose appointment to the Board of Directors is with immediate effect, were recommended to the Company's board by a leading international recruitment agency assisting the Company in its search for new independent non-executive directors. Having considered the new directors' knowledge and experience of the oil and gas and financial sectors, the Company's Board concluded that the new directors would make a valuable contribution to the Company's future growth and development. Accordingly, the appointments were unanimously approved.

Sergey Koshelenko, Chairman of Exillon's Board, said:

"We are delighted to have such high calibre independent directors joining our Board.  They bring a vast amount of relevant experience both in the oil industry as well as in the international financial markets.  Collectively, they will provide strong independent oversight of our business, while supporting us in our aim to maximise value creation for all our shareholders."

Further biographical information on the directors:

Roman Kudryashov has worked for more than 20 years in finance. Most recently he served as head of Verno Private Equity Fund.  Prior to joining Verno, Mr Kudryashov held a variety of senior positions at Sberbank, including CFO, member of the Investment Committee and member of the Board of Directors.  During his extensive career in finance, Mr Kudryashov also held senior positions at Martinico B.V., Petrocommerce Bank and JPMorgan, dealing with business restructuring, investment operations and other financial issues. Mr Kudryashov holds an MBA degree from Wharton Business School, University of Pennsylvania. He is 47 years old.

Alexander Markovtsev has more than 15 years working as a lawyer with major international law firms.  During this time he has specialised in transaction support in the oil and gas sector, having advised on numerous significant M&A transactions.  He has also advised extensively on various issues relating to corporate governance and corporate social responsibility.  Mr Markovtsev has a degree with honours from the Moscow State Law Academy, and earned his doctorate in 2014.  He is 36 years old.

Natalya Shternberg has considerable experience in the oil and gas industry, having held senior positions over a 20-year period at a variety of oil and gas companies such as Souz Petrolium SA, Summa Group, Star Oil and Baltic Oil Invest Ltd.  Ms Shternberg is currently a member of the Board of Directors of Yakutsk Fuel and Energy Company (YATEC), Soyuz Bunkering Group (Hong Kong, Dubai, Singapore, Rotterdam) and Soyuz Petroleum SA (affiliated to Primorsk and Novorossiysk Port) crude oil and petroleum products trading company. Ms Shternberg holds a PhD in sociology from the Lomonosov Moscow State University. She is 43 years old.

This announcement includes all information required pursuant to paragraph 9.6.13R of the Listing Rules of the UK Listing Authority.

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