quality appointment

not posted on HC yet but up on e-trade

23 September 2011
ASX Code: KAR
Appointment of Company Director, Jose Coutinho Barbosa
Karoon Gas Australia Ltd has appointed the former President and CEO of Brazilian national petroleum
company, Petroleo Brasileiro S.A. (?Petrobras?), Mr Jose Coutinho Barbosa, to its board, significantly
strengthening the company?s presence and operating capacity in Brazil, the location of some of Karoon?s
most prospective offshore acreage.
The appointment will also provide substantial depth of experience to the Karoon board as it embarks on
the biggest exploration drilling campaign in its history. This drilling campaign across three countries
including Australia, Brazil and Peru, will commence in the near term and continue through into 2013.
Mr Barbosa?s presence on the Karoon board gives the company access to a wealth of local knowledge
from the highest levels of Brazil?s petroleum industry and unparalleled experience and an understanding
of international petroleum policy.
Mr Barbosa spent 38 years with Petrobras, beginning his career in a number of technical and
management positions culminating in his appointment as acting President and CEO of Petrobras, now the
world?s fourth largest petroleum exploration and production company.
Earlier in his career, Mr Barbosa was executive Vice-President and CEO of Braspetro, (otherwise known as
Petrobras International), and was Managing Director for Exploration and Production until his retirement
in February 2003. Since then, he has managed his own, independent, consulting firm, Net Pay ?leo & G?s
Consultoria Ltda, headquartered in Rio de Janeiro, Brazil, operating in areas of the petroleum industry.
Mr Barbosa graduated from the Ouro Preto School of Mines (State of Minas Gerais, Brazil) in 1964,
completing his Masters in Geophysics in 1967.
Karoon executive chairman, Bob Hosking, said, ?Karoon is very pleased Mr Barbosa has agreed to join the
Karoon board.?
?His many years of experience at a high level within the Brazilian and global oil and gas industry will be
invaluable to Karoon. The timing of his acceptance is opportune as Karoon is about to commence the
largest exploration campaign in the company?s history. The company will soon be drilling in Australia
Brazil and Peru. With success, Karoon will emerge as a serious global oil and gas producer.?

end of article

he also scores 300,000 2013 options at $11.50...nice