Madalena Energy Inc. and Maglan Capital LP announced that, further to the recently announced initiatives and review undertaken by
the special committee of Madalena's Board of Directors, effective immediately Mr. Gus Halas has been appointed to the Board and Mr. Steven Sharpe has been elected Chairman of the Board. Mr. Halas, an independent director, is currently a director of Triangle Petroleum Corporation and has significant experience in the energy industry and in public companies in both an executive and board role, including his roles as President, Chief Executive Officer, Director and/or Chairman of Central Garden & Pet Company, T-3 Energy Services Inc., Ingersoll Dresser's Pump Services Group and Aquilex Corporation. Mr. Halas has also held a leadership position at Sulzer Industries Inc. and is currently a Member of the Advisory Board of White Deer Energy, a Houston based private equity firm. With Mr. Halas' background and skills, Madalena and Maglan believe that Mr. Halas will be an excellent contributor to the success of Madalena.