HONG KONG, June 19, 2012 /PRNewswire-Asia/ -- Regarding a recent media report about the resignation of Mr. Vince Matassa, Brightoil Petroleum (Holdings) Limited ("Brightoil" or the "Group"; stock code: 933.HK) would like to make the following response:
1. Brightoil confirms that Mr. Vince Matassa, regional Managing Director, ISB Americas & Caribbean, is no longer working with Brightoil. During his term at Brightoil, the Group's US business accumulated losses of up to approximately USD15million.
2. The Group is currently conducting an audit into its US operations and reserves all rights with regard to the losses incurred.
For additional information about Brightoil, please visit the Company's website at www.brightoil.com.hk.
