Madalena Energy Inc. announced the departure of Kevin Shaw as President and Chief Executive Officer. Steven Sharpe, Chairman of the Board, has been appointed Interim President and Chief Executive Officer and will direct the ultimate search for a permanent CEO. The company announced the appointment of Eric Mark to the Board effective immediately.

Mr. Mark, an independent director, is currently a Managing Director at Batuta Capital Advisors. Prior to joining Batuta, Mr. Mark was a Senior Analyst/Junior Portfolio Manager at BTG Pactual. During such time, Mr. Mark led official and ad hoc restructuring committees and advised BTG investment bankers in the restructuring of several South American companies, including OGX, SMU and Nextel International.