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Tidewater Midstream Appoints New CEO

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Tidewater Midstream and Infrastructure Ltd. has announced the appointment of Joel A. MacLeod assuming the role of President and Chief Executive Officer, Mr. Doug Fraser as a Director of the Corporation and an operational update.

The Board of Directors of Tidewater is pleased to announce that they have agreed to appoint Mr. Joel A. MacLeod as the President and CEO of Tidewater, effective immediately. Mr. MacLeod will also continue on as the Chairman of the Corporation.
In addition, Tidewater is pleased to announce the addition of Mr. Doug Fraser to the Board of Directors.

The Board also announces that Mr. Toby McKenna will assume the role of Vice-President Business Development and Commercial.
Mr. MacLeod has a proven track record in new company start-ups in the midstream and upstream space. Mr. MacLeod's most recent venture, Predator Midstream Ltd., where he was the majority shareholder and founding CEO grew from a single $3 million equity investment to an ultimate sale price of $107 million over a 2-year time period with its sale in August 2014 to Secure Energy Services.

Mr. MacLeod has over 15 years of experience in the oil and gas industry and has been involved in an executive or director capacity with over seven oil and gas companies including being the founding CEO of 3 oil and gas companies all of which generated returns of greater than 10 fold for shareholders. Mr. MacLeod has been actively involved in greater than 50 oil and gas acquisitions and dispositions and ranging in size from $100,000 to $5 billion with the 5 most lucrative sales being to companies with greater than $2 billon dollar enterprise values. Mr. Macleod has also actively managed midstream assets ranging in value from $1 million to approximately $1 billion over the past 10 years.

Mr. MacLeod is currently the largest shareholder of Tidewater owning approximately 24% of the Corporation and plans to participate in all financings moving forward. Consistent with Tidewater's strategy of minimizing general and administrative expenses and aligning compensation with shareholder returns, Mr. MacLeod will not be taking a salary at this time but will be compensated through both a short term and long term incentive plan.

Mr. Fraser will join the Board and will also Chair the Audit Committee of Tidewater. Mr. Fraser brings invaluable international and North American oil and gas experience to the Tidewater Team. Mr. Fraser was most recently the Chief Financial Officer at TAQA based in Abu Dhabi where he oversaw oil and gas and infrastructure assets with a value of greater than $30 billion. Prior to TAQA, Mr. Fraser was the CFO of PrimeWest Energy Trust at the time of its acquisition by TAQA for approximately $5 billion in cash. In roles previous to PrimeWest, Mr. Fraser was the Chief Financial Officer of Husky Energy and held senior roles at Petro-Canada and Imperial Oil.

Operational Update:

Tidewater is pleased to announce it has entered into an agreement with a senior integrated oil and gas producer to utilize its five railcars and has leased an additional ten new pressure railcars which it will take delivery of in approximately 60 days.
Tidewater has also received its export permit from the National Energy Board to export propane and butane from Canada.