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Board of Directors

Keith A. MacPhail
Chairman

W. Peter Comber
Barrantagh Investment Management Inc.

Pentti O. Karkkainen
KERN Partners

Ronald J. Poelzer
Bonavista Energy Trust

Alex G. Verge
President and
Chief Executive Officer

Clayton H. Woitas
Range Royalty Management Ltd.

Grant A. Zawalsky
Burnet, Duckworth & Palmer LLP


Pentti O. Karkkainen

General Partner, KERN Partners Ltd. (a private equity firm and partnership).

Member of:
- Lead Director
- Audit Committee
- Reserves Committee
- Compensation Committee

Mr. Karkkainen has 23 years of investment management, energy sector research and investment banking experience, as well as four years of industry experience with Gulf Canada Resources. Mr. Karkkainen is a founding and General Partner of KERN Partners Ltd., a Calgary based energy sector private equity firm that was established late 2000. KERN Partners has $1.1 billion of capital under management from a variety of North American and European pension funds, endowments, family offices and other financial institutions. Prior to establishing KERN Partners, Mr. Karkkainen was Managing Director and Head of Oil and Gas Equity Research at RBC Capital Markets.

Mr. Karkkainen holds a Bachelor of Science (Honours) degree in Geology from Carleton University in Ottawa and a Masters of Business Administration degree from Queen's University in Kingston.

Mr. Karkkainen is also a director of several Calgary based private energy infrastructure and oil and gas exploration and development companies including Altex Energy Ltd., Connaught Energy Ltd., Gibraltar Exploration Ltd., Dolomite Energy Inc. and Peloton Exploration Inc.

April 2009