Columbus Energy Limited appointed Mr. Martyn Element as interim President and Director of the company effective immediately. Mr. Element's appointment to the Board will fill the vacancy created by the resignation of Mr. William Houston. The company also reports that effective immediately Mr. Paul Ray has resigned as the President and Chief Executive Officer of the company and Mr. Element has been appointed as the President and Chief Executive Officer of the company to fill such vacancy.

Mr. Paul Ray will continue to act as a director of the company. Mr. Element, founder and President of Element and Associates, which he formed in 1989, has experience in sourcing and pursuing new business ventures globally and has attained a proven track record of securing financing for these opportunities.