Crosco announces new CFO and appointments to the Management Board

ZAGREB, Croatia, Jan. 10, 2012 /CNW/ - Crosco Integrated Drilling & Well Services Co., Ltd. is pleased to announce that Peter Szekely and Tomislav Tadic have been appointed to the company's Management Board and that Tomislav Tadic has been appointed as Crosco's Chief Financial Officer.

Tomislav joined Crosco from Dioki Plc where he was CFO and Board Member from 2010.    Previously, Tomislav served as the CFO of CCS Investments Ltd which was preceded by his two year Managing Director position at Proventus Strategije Ltd commencing in 2007.   Between 1999 and 2007, Tomislav worked his way up to the Deputy Executive Director position of the Investment Banking Division at Privredna banka Zagreb.   Tomislav has a Bachelor of Engineering degree as well as a Master's degree in Economics from the University of Zagreb.

Peter has served as Crosco's Director of Corporate Services since July 2011 and retains that position.  From 2006 to 2011, Peter served as the Finance Manager and subsequently as the Managing Director at the upstream Oman subsidiary of MOL Hungarian Oil and Gas Company (MOL).   Previously, from 2001 to 2006, he was the Executive Assistant to MOL's Chairman & CEO and subsequently Secretary of the MOL Board of Directors and the MOL Supervisory Board.   Between 1996 to 2001, Peter was a Financial Analyst focusing on upstream projects in Yemen, Algeria and Russia at MOL's International Exploration and Production Division.   Peter has both Bachelor of Science and Bachelor of Arts degrees from the University of Kansas and is set to complete his MBA from the London Business School.

CROSCO is an integrated onshore and offshore drilling and well services contractor.   The company has a fleet of 66 drilling, workover and geoservices rigs as well as one semisubmersible and one jackup.   CROSCO is 100% owner of Hungarian based Rotary Drilling Company.  Rotary's drilling fleet includes 8 drilling rigs and the company also provides workover and other well services.    CROSCO provides the following well services: well testing, coil tubing, nitrogen, cementing, stimulation, logging, mud, coring, fishing and directional drilling.

CROSCO is currently providing services in Oman, the Kurdish region of Iraq, Egypt, Turkey, Albania, Hungary, Italy, B&H  and Croatia.   CROSCO has been providing services internationally since 1958 and has provided services in 34 countries for many of the world's most recognized oil companies.    The company has ISO 9001, ISO 14001 and OHSAS 18001 certification from Bureau Veritas Certification Croatia.   CROSCO is a member of the International Association of Drilling Contractors and the International Well Control Forum.   The company's headquarters are located in Zagreb, Croatia.

SOURCE Crosco Integrated Drilling

For further information:

please visit CROSCO's website: www.crosco.com or contact: info@crosco.hr

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Crosco Integrated Drilling & Well Services Co., Ltd.

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