---

Chemoil, one of the world’s leading physical suppliers of marine fuel, has appointed Peter Meade as the Board’s Lead Independent Director. Steven Simpson has also been appointed as an Independent Director and Chairman of its Audit Committee.

The appointments follow the resignation of the Board’s current Lead Independent Director and Audit Committee Chairman, Michael Lim Choo San, which Chemoil said was due to 'other commitments'. Mr Lim had been on the Chemoil Board for more than four years.

Chemoil’s Chairman and CEO, Mike Bandy, said: “We would like to thank Michael Lim for his significant contributions to the company since Chemoil’s public listing in 2006. He has been one of the key pillars of our Board, particularly following the death of our Founder, Mr Robert Chandran in 2008, when Mr Lim then took on the role of the Lead Independent Director in addition to being the Chairman of the Audit Committee, to facilitate a smooth leadership transition.”

Commenting on the new appointments, Bandy said: “Mr Simpson, with his deep regional financial experience as well as years of “hands-on” knowledge in the Asia Pacific’s oil and gas sector, will be a valuable addition to further reinforce Chemoil’s Board strength. Mr Meade, another seasoned veteran in the global energy industry, has had good synergistic rapport with the rest of the Chemoil Board members for over 2 years and will be a natural fit in the Independent Director role. I look forward to working with both of them and the rest of the Board to continue Chemoil’s growth sustainability and corporate governance excellence.”

Mr Simpson is a Managing Director and Principal of Triton Advisory Group Pte Ltd, a boutique mergers and acquisitions, fixed income trading and corporate advisory group located in Singapore. Mr Simpson has a Bachelor of Commerce degree from University of New South Wales, Australia, and is a Certified Public Accountant, Australia Institute of Accountants. In his role at Triton, he has acted as an advisor on private and government sector activities, including privatizations, mergers and acquisitions and capital market activities. Prior to this, he was a Managing Partner of Price Waterhouse Consulting in Indonesia and Australia, and was Group Controller Australasia for Honeywell.

Presently, he holds various other board appointments which include being the Non-executive Chairman and Audit Committee member of Jasper Investments Limited and a Non-executive Director and Audit Committee member of Goldsource Mines Inc. (a Canada-listed entity).

Mr Meade has been Chemoil’s Independent Director since January 2008. He is also Chairman and Independent Director of OceanConnect Holdings Inc, a worldwide brokerage for marine fuel, energy products, and risk management services. Prior to this, he was Vice President and CFO of Fuel and Marine Marketing LLC.

Mr Meade has also worked with Texaco in various senior management, financial and treasury positions; as well as with General Foods Corporation and Chase Manhattan Bank in the US. He holds a BA in Liberal Arts from Saint Leo University, USA, and an MBA in Finance from Long Island University, US.