Timan Oil & Gas Announces Appointment of non executive director

Timan Oil & Gas Announces Appointment of Non-Executive Director

Monday, October 08, 2007

Timan Oil & Gas announces with immediate effect the appointment of Alexander Schnaider as a Non-Executive Director.

Dr. Alexander Grigorievich Schnaider, aged 49, is currently Business Development Director at OAO «Zapsibgazprom», a subsidiary of Gazprom. He has also been Chairman and President of the Taller Capital Management Company since 2006.

Between 2002-2006 Dr. Schnaider was Chief Executive Officer at the Representative Office in Moscow of the Douglas Industries Consulting Establishment and from 1994 to 2002 he served as a director of ISBC Ltd in Israel. He holds a Doctorate of Engineering Science from Moscow State Textile University. Since 2005 he has served as Head of Innovation Project Management Department and Professor of the State Academy for Advanced Training of Investment Specialists (GASIS).

Commenting on the appointment, David Herbert, Chairman of Timan Oil & Gas, said:
“We are delighted to welcome Dr. Alexander Schnaider to the Board of Timan Oil & Gas. Alexander’s financial and industrial expertise, alongside his broad knowledge of the oil and gas sector, will be invaluable as we continue to develop and grow.”