Madagascar Oil announced that Mr. Peter Godfrey has been appointed to the board of directors of the company as a Non-Executive Director and as a nominated representative of Benchmark Advantage Fund Ltd, with immediate effect. Benchmark has exercised its right, in accordance with the terms of the Relationship Agreement, to appoint a nominated representative to the Board. The Relationship Agreement was entered into by Benchmark, SEP African Ventures Limited and the company on 18 December 2012, and amended on 24 January 2013.

Between 2007 and 2010, Mr. Godfrey was International Vice President for Arrow Energy, where he successfully initiated a number of projects. Following this, Mr. Godfrey then spent 4 years as the Head of Oil & Gas within the Private Equity practice of Standard Chartered Bank. Since leaving Standard Chartered Bank in 2014, he has acted as an independent advisor to institutional investors, fund managers and family offices looking to both source investment opportunities and to manage existing ones within the oil and gas industry.