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   AUSTIN, Texas--(Business Wire)--Sky Petroleum, Inc. (OTCBB: SKPI), an oil and gas company with activities inAlbania and the United Arab Emirates, is pleased to announce the appointment ofJaloul Ayed to its Advisory Board. Mr. Jaloul Ayed was appointed Minister of Finance of Tunisia in January 2011 andserved in the two interim governments that were formed following the Tunisianrevolution. Prior to this appointment, Mr. Ayed was Board Member and GeneralManager of BMCE Group, Vice Chairman of its Senior Credit Committee, Chairman ofBMCE Capital, and Vice Chairman of and CEO of BMCE Bank International, aUK-based wholly owned subsidiary of BMCE. In 1998 Mr. Ayed joined the Moroccan BMCE Group to set up BMCE Capital, itsinvestment banking arm. BMCE Capital became one of the leading investment banksin Morocco and in the region. He also initiated the activities of BMCE Capitalin Central and West Africa through the creation of a subsidiary of BMCE Capitalin Senegal and Cameroon. In 2006, BMCE Capital launched its subsidiary AXISCapital in Tunis. Mr. Ayed also supervised the creation by BMCE Bank ofMediCapital Bank, an FSA authorized wholesale bank in London. Mr. Ayed chaired the Management Committee of BMCE Group as well as the boards ofseveral fully owned subsidiaries of BMCE Bank Group and FinanceCom. He alsofounded Argan Invest, the largest private equity platform in Morocco. Mr. JaloulAyed held several other senior positions in the FinanceCom Group including, butnot limited to Vice-Chairman of the supervisory Board of RMA Watanya, thelargest insurance company in Morocco, Director of Bank of Africa and Chairman ofthe Board of Axis Capital, Tunis. He was also a Director at Proparco, the Frenchdevelopment agency, and Vice Chairman and co-founder of Euromed Capital Forum. Prior to BMCE, Mr. Ayed joined Citibank in 1980 where he spent 18 years. Duringhis career with Citibank, he held various country management positions in theemerging countries of North Africa and the Middle East, and as Senior Bankerwith the Capital Markets Group at Citicorp International plc in London(1996-1998). During his various assignments at Citibank, Mr. Ayed formulated andimplemented business strategies in the countries under his supervision, and madesignificant contributions to developing Citibank franchises in the MENA region.Mr. Ayed holds a BA in Economics from the Faculty of Law and Economic Sciencesof Tunis (1977), and obtained a Masters` degree in Economics at the Universityof Maryland in 1979 where he was elected member of the Phi kappa Phi HonorSociety. He is a renowned composer of classical music. "We are very pleased to have Jaloul join Sky Petroleum`s Advisory Board," saidKarim Jobanputra, Sky Petroleum`s chairman. "He is a financial global leader,and his knowledge and skill will be invaluable to Sky Petroleum." About Sky PetroleumSky Petroleum (OTCBB: SKPI) is an oil and gas exploration company. SkyPetroleum's primary focus is to seek opportunities where discoveries can beappraised rapidly, and developments can be advanced either by accessing existinginfrastructure, or by applying the extensive experience of establishedjoint-venture partners. In addition, the company also plans some higher risk,higher reward exploration prospects. For additional information please visit
  www.skypetroleum.com.
  Safe HarborExcept for historical information, the matters set forth herein, which areforward-looking statements, involve certain risks and uncertainties that couldcause actual results to differ. Potential risks and uncertainties include, butare not limited to, the competitive environment within the oil and gas industry,the extent and cost effectiveness with which Sky Petroleum is able to implementexploration and development programs in the oil and gas industry, obtainingdrilling equipment on a timely fashion, commodity price risk, and the marketacceptance and successful technical and economic implementation of SkyPetroleum's intended plan. Additional discussion of these and other risk factorsaffecting the company's business and prospects is contained in the company'speriodic filings with the SEC.  Sky Petroleum, Inc.Investor and Public Relations, 512-687-3427info@skypetroleum.comCopyright Business Wire 2012