Selena Oil & Gas Holding AB Appoints Oleg Popov as New Chairman and Relieves Chief Executive Officer of Duties

Selena Oil & Gas Holding AB announced that following an election of a new Board of Directors on January 14, 2013, the Board of Directors resolved – during the evening of the same date – to elect Mr. Oleg Popov as Chairman of the Board of Directors. Furthermore, the board of directors resolved to relieve the Chief Executive Officer from his duties. The Chief Executive Officer's employment has not been terminated and he has not been dismissed but only relieved from his duties until further notice.