RAK Petroleum bolsters stake in RAK Saleh field

RAS AL KHAIMAH, 4 October 2010--RAK Petroleum Public Company Limited, the oil and gas exploration and production company, today signed an agreement with RAK Gas LLC to take a 100 percent stake in and operatorship of the Saleh field offshore the Emirate of Ras Al Khaimah in exchange for 100,000,000 shares in RAK Education Company (EDRAK). RAK Petroleum already holds a 40 percent interest in the currently non-producing gas and condensate field.