The Board

Tim Eggar has over 30 years’ experience in the oil and gas industry ranging from management to industry regulation to strategic and financial advice. He is currently chairman of the board of Nitol Solar Ltd, MyCelx Corporation and Cape plc, Chairman of the Russo-British Chamber of Commerce, a director of Tag Energy Solutions Limited and adviser to Braemar Energy Ventures and the International Gas Union. He was a member of Parliament in the United Kingdom from 1979 to 1997 and served in a number of ministerial positions including Minister for Industry and Energy from 1994 to 1996. Tim graduated from Magdalene College, Cambridge and the College of Law and is a barrister.

Peter Clutterbuck joined the Group in January 2011. He has over 35 years of experience in management of listed upstream oil and vertically integrated gas companies. From 2004 to 2010, he was CEO of Toronto listed Orca Exploration (a spin-off from PanOcean Energy) producing 90 MMscfd in Tanzania. He was previously Vice President of Operations for PanOcean Energy, which was sold in 2006 for US$1.4bn. He has been a Director of AIM Listed Mediterranean Oil and Gas, President Petroleum, and Northern Petroleum, which he founded. He served on the Board of the Society of Petroleum Engineers in London from 1998 to 2006. From 1987 to 1990, he was responsible for the discovery of the 300 MMB Rubiales Field in Colombia, which is now producing 170,000 bopd. He worked for 15 years with BP in operations and management positions in the Middle East, Europe and USA. Peter holds a Masters Degree in Engineering from Cambridge University.

Barry Rourke has been a director of the Group since 2007 and was appointed as Senior Independent Director of the Company in 2011. He is also a non-executive director of New World Resources NV and Ruuki Group plc (both listed on the Main Market of the London Stock Exchange) and Avocet Mining plc (listed on AIM). Barry was a partner with PricewaterhouseCoopers from 1984 until his retirement in 2001. He is an independent member of the audit committee for the Department for Energy and Climate Change (the “DECC”) and a member of the Coal Liabilities Strategy Board for DECC. Barry was also chairman of Cadogan Petroleum plc from April 2006 to December 2006.

David Bremner joined the Board in January 2011, having been involved in the international oil and gas business for 33 years. He was on the board of Indago Petroleum from 2005 to 2009, becoming CEO in 2007. From 1999 to 2007 he was engaged in international petroleum consultancy, with a particular emphasis on new business development. From 1995 to 1999 he worked for Monument Oil and Gas, initially as exploration manager before stepping up to the position of exploration director. He holds an honours degree and a Ph.D. in geology from the University of Glasgow, Scotland.

Robert Jeffcock was a founder of the Group in 2007. He has 30 years’ experience of investing in and managing natural resource projects in North and South America, Asia and Europe, including 6 years with an oil and gas exploration and production Group in Dallas, Texas. Mr Jeffcock was also a founder of Cadogan Petroleum plc and Vane Holdings plc and a director of Anglo Asian Mining plc from September 2004 to August 2006.

Clive Needham joined the Board in 2005 and is also currently the managing director of CM Management (IOM) Limited. He qualified as a chartered accountant in 1992 and is a fellow of the Institute of Chartered Accountants, England & Wales.

Rod Perry joined the Board in February 2011. He is currently Deputy Chairman of Bwin. Party Digital Entertainment Plc. Previously he was the chairman of Party Gaming Plc and had been a non-executive director of Party Gaming Plc since 2005. He is also a non-executive director and senior advisor of Ithmar Capital (Dubai), a US$250 million private equity fund. Rod served as a non-executive director of Gulf of Guinea Energy, which merged with Seven Energy in 2009. He is a chartered electrical engineer and holds a BSc Hons Physics (First Class) from the University of Salford and a diploma in Management Studies from Bristol Polytechnic.