Araca Energy ASA's nomination committee refers to the announcement of 10th of July 2015 regarding the nomination of Mr. Jan Kielland to the Board of Directors, where it was stated the changes in the directors will be done at the next EGM.

The nomination committee has at a later time been informed MAC SA has the right for a director in the Board of the Director pending the extraordinary general meetings approval of MAC SA's subscription.

For purely practical reasons, the changes to the Board of Directors will be proposed in a separate EGM after the potential approval of the subscription.

In the mean time, Mr. Kielland continues as special adviser to the board.

For further information, please contact:

Henrik Wold, Interim CEO
E-mail: hw@araca.no
Phone: +47 988 88 444