Directors

Robert J. Dales, MBA — Independent Director^{(1) (3)}

Mr. Dales has 30 years of experience in the oil and gas industry and has held various administrative and management positions. Mr. Dales secured a Bachelor of Commerce degree from the University of Calgary in 1972 and a Master of Business Administration from the University of Alberta in 1973. From 1981 until 1999, Mr. Dales worked in the Operations Department of Panartic Oils Ltd., a private oil and gas exploration company. Mr. Dales was the President, Chief Executive Officer and a director of Resolution Energy Inc., a public oil and gas company. From 1994 until 1996, Mr. Dales was the Secretary-Treasurer and a director of Energy North Inc., a public oil and gas company. Mr. Dales was also the President and a director of Desco Resources Ltd., an oil and gas exploration and development company (now Peyto Energy Trust and listed on the TSX) from March 1997 until October 1998. Mr. Dales is currently a director of Celtic Exploration Ltd. (formerly Desco Exploration Ltd.), a public oil and gas exploration company, and President and a director of Valhalla Ventures Inc., a private investment company based in Calgary, Alberta. Mr. Dales is also the President and a Director of Drako Capital Corp. a TSXV-listed issuer. Mr. Dales is also a Director of Manitok Energy Inc. which is a TSXV-listed issuer.

Michael J. Laffin, MPA, LL.B. — Corporate Secretary and
Independent Director⁽²⁾

Mr. Laffin is a senior partner with the law firm Blake, Cassels & Graydon LLP. He provides legal and corporate advice to several oil & gas companies, ranging in size from senior integrated to junior exploration companies. Mr. Laffin has 30 years of experience in the oil & gas industry, primarily as a lawyer, but early in his career worked in the business economics, reservoir engineering, and land departments of a multi-national oil company. Mr. Laffin has advised many boards in his capacity as legal counsel. He is currently a director of the boards of several international companies, and has extensive experience with a variety of business issues, including corporate strategy, M&A transactions, compensation, and corporate governance matters.

J. Terry McCoy, P. Geol — Independent Director⁽¹⁾⁽³⁾

Mr. McCoy is a senior oil and gas executive with over 40 years of experience with major, senior, intermediate and junior oil and gas companies. As at the date hereof, Mr. McCoy is President of Koa Resources Ltd. which is a private company and a Director of Shorthorn Exploration Ltd. (private) and PRD Energy Inc. Prior thereto Mr. McCoy was Vice President of Exploration for Calvalley Petroleum Inc., an oil and gas company active internationally. Mr. McCoy also served as President of TRAFINA Energy Ltd. and prior to that was Vice President of Exploration at Murphy Oil Company. Mr. McCoy was employed for 11 years at Poco Petroleums as Vice President of Exploration and subsequently as President of Burlington Resources of Canada. Prior to 1990 Mr. McCoy held executive positions at Columbia Gas Development of Canada, Conwest Exploration Company, Union Oil of Canada and Amoco Canada Petroleum Company. Mr. McCoy is a Director of two private companies.

Murray Hinz, CA CFP — Independant Director⁽²⁾⁽³⁾

Mr. Hinz is a senior finance executive with 16 years experience in accounting, auditing and business consulting services. As at the date hereof, Mr. Hinz is Vice President Finance for CanElson Drilling Inc. and the President of Marazul Consulting Inc., an international financial consulting firm. Mr. Hinz is also the interim CFO for Matrix Technologies Inc. Prior thereto, Mr. Hinz was a controller and financial analyst for the Ritz Carlton Resort Development in Grand Cayman and a financial advisor with Deloitte & Touche (Grand Cayman) and PricewaterhouseCoopers (Calgary). Mr. Hinz has a Bachelor of Commerce from the University of Saskatchewan, is a member of the Institute of Chartered Accountants of Alberta and is a Certified Financial Planner.

(1) Reserves/Health Safety and Environment Committee Member
(2) Compensation and Corporate Governance Committee Member
(3) Audit Committee Member