Mr. Mossavar-Rahmani is an experienced oil industry executive andcurrently serves as Chairman of the Board of Directors of FoxtrotInternational, LDC, a Franco-American oil and gas company active in WestAfrica and as CEO of Mondoil Enterprises, LLC, an energy holding company, inthe United States. He was founder and first chief executive of Houston-basedApache International, Inc.

"We are pleased to welcome Bijan to RAK Petroleum and look forward toworking together to take the company to the next level as a significant andsuccessful regional oil and gas exploration and production player," saidAbdul Aziz Al Ghurair, Chairman of RAK Petroleum's Board of Directors. Mr. AlGhurair is also Director and CEO of Mashreq PSC and Speaker of the House ofthe 14th Legislative Chapter of the Federal National Council in the UnitedArab Emirates.

RAK Petroleum is active in exploration for oil and gas currently in theSultanate of Oman and also in Ras Al Khaimah. The company produces gas from asmall offshore field in Oman and will commence production from a second,larger field later this year. The vast majority of the company's issued sharecapital is held in the United Arab Emirates and in Saudi Arabia.

In addition to his industry positions, Mr. Mossavar-Rahmani is active inpublic and international affairs and serves as a member of HarvardUniversity's John F. Kennedy School of Government's Visiting Committee andalso of the New York Metropolitan Museum of Art Visiting Committee on IslamicArt. He has published more than ten books and dozens of articles on globalenergy markets and was decorated a Commandeur de l'Ordre National de la Coted'Ivoire for services to the energy sector of that country.

RAK Petroleum also announced that Peter Sadler, who held the interimposition of CEO since April 2007, has stepped down. Mr. Sadler was formerlyCEO of London AIM-listed Indago Petroleum; RAK Petroleum acquired Indago'sOman exploration and production assets a year ago and the process ofintegration of those assets into its new owner's portfolio has now beencompleted.

For more information contact: Samantha Bartel Samantha.bartel@buchananme.com Mob: +971-50-656-8851SOURCE RAK Petroleum