Maha Energy AB (publ) announced the appointment of Mr. Javier Gremes Cordero as Chief Operating Officer of Maha Energy effective immediately. Mr. Gremes has a sound track record both in executive positions and as a regional leader in the energy industry. He has worked the last six months as an exclusive consultant for Maha and is already deeply engaged with the Company?s projects in Venezuela.

Mr. Gremes will replace Mr. Alan Johnson, who leaves Maha in connection with the closing of Maha?s technical office in Calgary, Canada. All functions previously handled by the Canadian office are being transferred to Maha?s office in Rio de Janeiro, Brazil or Maha´s office that is being incorporated in Venezuela. Mr. Gremes experience covers over 35 years within the oil and gas industry.

Before joining Maha as an independent consultant, Mr. Gremes was CEO of Pecom Servicios Energía and CEO of TGS (Argentina). Prior to that, he held the position as Ecuador General Manager for Petrobras and was also part of the internationalization process of Perez Companc with responsibilities over Venezuela. He holds a MSc degree from Université de Management, Switzerland and an MBA degree from Universidad Francisco de Vitoria, Spain.