Michael Davis Appointed Chief Operating Officer and Interim Chief Executive Officer

Credo Petroleum Corporation (Nasdaq: CRED), an independent oil and gas company with significant assets in the North Dakota Bakken and Three Forks formations, Kansas, Nebraska, the Texas Panhandle and Oklahoma, reported today that Michael D. Davis, its Vice President of Land & Business Development, has been promoted to the position of Chief Operating Officer. Mr. Davis will also serve as Interim CEO when, as previously reported, Marlis E. Smith, Jr. steps down at the end of January to return to full time management of his personal oil and gas business. Mr. Smith will continue to serve as a member of the Board of Directors.