Tap Oil Limited announced the appointment of Mr. Frank Sakda Sreesangkom, Mr. James Menzies and Mr. Peter Mansell as directors of the Company. Mr. Sreesangkom is an executive of Northern Gulf Petroleum Holdings Limited. Mr. Sreesangkom's appointment ensures that both of the Company's major shareholders, NGP and Risco Energy Investments (SEA) Limited (Risco), have a representative on the Company's Board which is expected to provide a more stable platform by which the Company's Board and management team can focus on creating value for the benefit of all shareholders. His appointment will take effect from 5pm on 27 May 2016. As previously announced, existing non-executive director Mr. Mike Sandy has decided to not stand for re-election at the 2016 AGM. Mr. Menzies, the former CEO of Salamander Energy, will replace Mr. Sandy as an independent non-executive director of the Company. The appointment of Mr. Menzies as an independent non-executive director of the Company brings extensive Asian and particularly Thai experience to the Board. His appointment will also take effect from 5pm on 27 May 2016. Dr. Doug Schwebel has notified the Company that he intends to retire as a director and will be replaced by Mr. Mansell as an independent non-executive director of the Company. Dr. Schwebel's retirement and the appointment of Mr. Mansell will also take effect from 5pm on 27 May 2016. As previously announced, Mr. Troy Hayden will step down as the Managing Director of the Company with effect from 5pm on 27 May 2016. Mr. Hayden will continue to provide executive services to the Company in a part-time capacity until a suitable replacement CEO is found and an orderly transition of management responsibilities can occur. The Company will immediately commence an executive search process to seek to identify and appoint a replacement CEO as soon as practicable. Given the Company's current shareholding structure, the Company believes it is important to secure the best available candidate whom is independent of both NGP and Risco.