CEO of Noreco since July 2005. Holds over 30 years of experience from the oil industry and was previously the managing director for BP Norway. Has held positions as Manager for Russia and Kazakhstan for Arco, and president for CIS and North Africa Regions. Holds a BSc in Petroleum Engineering from University of Wyoming.

Scott Kerr holds 1 745 626 shares.

Joined Altinex in May 2004. Has 25 years experience within the Norwegian and international offshore industry, and has worked in all phases of the oil business, from exploration, construction to production. Holds a MSc of Business and Economics from the Norwegian School of Management (BI) from 1984.

Jan Nagell holds 89 963 shares.

Joined Noreco as HSE and Engineering Manager in Dec 2005. Took over current position in Sept 2007. Has more than 20 years of experience from North Sea and Norwegian Sea E&P activities. Held various technical and business leadership positions in BP and Amoco, including Resource Manager for the Valhall field, Business, Analyst for BP’s North Sea activities, and Chief Petroleum Engineer for BP Norway. Holds a MSc in Petroleum Engineering.

Rune Martinsen holds 715 339 shares.

Joined Noreco in Jan 2006. Has more than ten years experience from the Norwegian and international oil and gas business. Held various positions in BP, including Business development analyst and business planning and performance management team leader. Holds a MSc in Business Administration, Strategic Management, a MSc, Chemical Engineering and is a level III candidate in the CFA program.

Einar Gjelsvik holds 100 183 shares.

Joined Noreco in December 2005. Has more than 23 years experience from the oil and gas industry in Norway and internationally. Has held various specialist and leading geoscience positions in the total value chain from exploration to development and production with several major oil companies. Holds a BSc (Hons) in Applied Geology from the University of Strathclyde in Scotland.

Lars Fosvold holds 110 067 shares in Noreco

Vice President Commercial, since Jan 2006. Holds close to 30 years of commercial experience and previous positions include Business Development/A&D Manager for BP Norway, Commercial manager for Amoco Norway in addition to key positions across the upstream value chain in Norway and internationally. Holds a MSc in Business and Administration.

Thor Arne Olsen holds 1 327 128 shares.

Joined Altinex Oil in Aug 2007. Has 20 years E&P experience from Norsk Hydro both in Norway and internationally where he held various senior HSE management positions. Has been involved in strategic and tutorial work related to company culture building and quality. Conducting an MBA with Oslo Business School/Nanyang University, Singapore, and holds a Diploma in HSE from Loughborough University, a degree from the Norwegian Police University College and studies in Law from Bergen University.

Stig Frøysland holds 90 160 shares.

Joined Noreco in Oct 2006. Holds more than 25 years of Drilling and Project experience, in Norway and internationally including positions as exploration drilling manager for BP and project general manager Valhall Flank Development. Holds a BSc in Petroleum Engineering from the University of Stavanger.

Birte N Borrevik holds 181 995 shares.

Joined Altinex in Sept 2006. Has 17 years of experience in drilling; 2 years as field manager for Oseberg Sør and for the last 2-3 years managing the activities at Noreco’s Danish office. For more than ten years, she worked as drilling supervisor and superintendent in the North Sea – mainly with Norsk Hydro in Norway and also with DONG in Denmark. Has also been managing drilling projects in Egypt, Namibia and UK. Gained an MSc in Petroleum Technology from Stavanger Technical University in 1988.

Synnøve Røysland holds 16 948 shares.