Directors & Officers

President of 557146 Alberta Inc. (a private investment company) since 1993. Mr. Talbot was an energy industry consultant focusing on exploration strategies from 2003 to 2008. Prior to that, Mr. Talbot was Dean of the Energy Department at the Southern Alberta Institute of Technology (SAIT) from January 2000 to 2002. Mr. Talbot served in an executive capacity at Lexxor Energy Inc. (a public oil and gas company) commencing in 1995, including roles as founding President, Chief Executive Officer, and Chairman. Mr. Talbot was co-founder, President, Chief Executive Officer and Chairman of Quadron Resources Ltd. (a public oil and gas company) from March 1990 to June 1995. Mr. Talbot was Vice-President, Exploration at Westmin Resources Ltd. (a public oil and gas company) from 1986 to 1990. Mr. Talbot was a founding director of Baytex Energy Ltd. (a public oil and gas company) from 1993 to 1995.

Mr. Talbot, P. Geol., graduated from the University of Calgary in 1974 with a Bachelor of Science in Geology and is a member of APEGGA.

President of the Corporation since May 6, 2007. Mr. Ward has been President of 764503 Alberta Ltd. (a private company) since 1997. Mr. Ward was Vice-President, Exploration of Innova Exploration (a public oil and gas company) from May 2004 to May 2006. Mr. Ward co-founded Chowade Energy Ltd. (a private oil and gas company) in 2003 which merged into Innova Exploration in 2004. From 1999 to 2003 Mr. Ward was Manager, Geology & Geophysics with the NCE Resources Group and Petrofund Energy Trust (a public oil and gas energy trust). Mr. Ward was Vice-President and Chief Operating Officer at Rockport Energy Corp. (a public oil and gas company) from 1998 to 1999. Mr. Ward held various positions, lastly as Exploration Manager from 1981 to 1997 for Total Petroleum Canada (subsequently Rigel Oil & Gas, both public oil and gas companies).

Mr. Ward, P. Geol., graduated from the University of Calgary in 1978 with an Honours Degree in Geology. Mr. Ward is a member of Association of Professional Engineers, Geologists and Geophysicists of Alberta (“APEGGA”).

Chief Financial Officer of Crown Point Ventures Ltd. from October 2009. President of 554492 Alberta Ltd. (a private company providing consulting services to the energy sector since 1993). Mr. Madden was Vice-President Finance, Chief Financial Officer, and Director of Adamant Energy Inc. (a private oil and gas company) from July 2004 to May 2008. Mr. Madden was Vice-President, Finance, and Chief Financial Officer of Cavell Energy Corporation (a public oil and gas company) from June 1994 to July 2004.

Mr. Madden, C.M.A., M.B.A., ICD.D has a Certified Management Accountant designation, Masters of Business Administration from Queens University as well as certification from the Institute of Corporate Directors. Mr. Madden is a member of Financial Executives International.

Executive Chairman and Director of Galleon Energy Inc. (a public oil and gas company) since March 2005 and Chairman of Culane Energy Corp. (a public oil and natural gas company) since December 2002. Chairman of High Point Resources Inc. from October 2001 to August 2005. Mr. Carley has also been the President of Selinger Capital Inc., a private investment company for more than the last five years. He was the Chairman and Chief Executive Officer of Venture Energy Inc. (a private oil and gas company) from December 2002 to December 2004. Mr. Carley was Executive Chairman of Flagship Energy Inc. (a public oil and gas company) from April 2005 to July 2008. Mr. Carley was the Chairman and Chief Executive of New Venture Energy Inc. (a private oil and gas company) from December 2004 to December 2005. Mr. Carley was a director of High Point Resources Inc. (a public oil and natural gas company) from October 2001 to August 2005. Mr. Carley was co-founder, Chairman and Chief Executive Officer of Magin Energy Inc. (a public oil and gas company) from January 1994 to June 2001.

Mr. Carley, B.A., LL.B., M.B.A., holds a Masters of Business Administration, a Bachelor of Laws degree and a Bachelor of Arts degree.

President of KD Angus & Associates Ltd. (a private company providing exploration consulting services). Mr. Angus was Executive Vice-President and Director of Pegasus Oil and Gas Inc. (a public oil and gas company) from June 2006 to August 2009 and prior to that, Vice-President, Exploration at Mustang Resources Inc. (a public oil and gas company) from June 2003 to July 2005. Mr. Angus was at Husky Oil Operations Ltd. (a public oil and gas company) from 1983 to 1994. Thereafter, Mr. Angus worked in senior geophysical positions at three junior oil and natural gas companies, Petrorep Resources Inc. (1994 to 1995), Ulster Petroleums Ltd., (1995 to 1996) and Archean Energy Ltd. (1997). Mr. Angus was President of KD Angus & Associates Ltd. from 1997 to 2002.

Mr. Angus, P. Geoph., graduated in 1983 with a Bachelors of Science degree. Mr. Angus is registered as a Professional Geologist with A.P.E.G.G.A. and is a member of the CSEG and the SEG.

President of Ashton Petroleum Consultants Ltd. (a private company providing consulting services to the energy sector) since 1985. Mr. Ashton served on the Board of Directors of Cobalt Energy Ltd (a public oil and gas company) from June 2007 to July 2009. Mr. Ashton was Chairman of the Board and co-founder of AJM Petroleum Consultants (“AJM”) since co-founding it in 1999 until March 2009. AJM specializes in the evaluation of corporate reserves, acquisitions and divestitures and unconventional reserves, such as coalbed methane and tight gas. Mr. Ashton joined British American Oil (subsequently Gulf Canada, a public oil and gas company) in 1965, holding various positions lastly as Manager of Reservoir Engineering until 1983. In 1986 Mr. Ashton co-founded AMH Group Ltd., which subsequently merged with Ashton Jenkins and Associates to form AJM. Mr. Ashton co-founded and was a director of Moreland Oil and Gas Ltd., (a public oil and natural gas company) from 1987 to 1990.

Mr. Ashton, P. Eng., graduated from the University of Alberta in 1965 with a Bachelor of Science degree in Chemical Engineering. Mr. Ashton is a member of APEGGA and the Petroleum Society of CIM.

Patrick R. Ward, P. Geol., President, Chief Executive Officer and Director

Mr. Ward, P. Geol, who has more than 31 years of experience in the oil and natural gas industry, graduated from the University of Calgary in 1978 with an Honors Degree in Geology.

Mr. Ward was Vice-President, Exploration of Innova Exploration from May 2004 to May 2006. Mr. Ward co-founded Chowade Energy Ltd. in 2003 which was merged into Innova Exploration in 2004. From 1999 to 2003 Mr. Ward was Manager, Geology & Geophysics with the NCE Resources Group and Petrofund Energy Trust, where he was a key member of the Petrofund Management team.

Mr. Ward was Vice-President and Chief Operating Officer at Rockport Energy Corp. from 1998 to 1999 and from 1981 to 1997 he worked for Total Petroleum Canada, which became Rigel Oil & Gas where he was Exploration Manager for the last 7 years. Mr. Ward is a member of APEGGA and AAPG.

Joan E. Dunne, B.Comm., CA, Vice President, Finance and Chief Financial Officer

Ms. Dunne brings 27 years of experience in the oil and natural gas industry, and has held senior management positions since 1984.

Ms. Dunne was Vice President, Finance and Chief Financial Officer of True Energy Inc., and subsequently True Energy Trust from November 2002 until June 2006. From December 2000 to November 2002 Ms Dunne consulted for various petroleum companies in the areas of finance, tax, and investor relations. Prior thereto, Ms Dunne was Vice President, Finance and Chief Financial Officer of Ionic Energy Inc. since January 1998. From October 1996 until joining Ionic, Ms Dunne was Vice President Finance for Petrorep Resources Ltd.

Prior thereto and from August 1994 to October 1996, Ms. Dunne held various positions with Barrington Petroleum Ltd, finally as Treasurer. Ms. Dunne graduated from the University of Calgary with a Bachelor of Commerce degree and joined the Canadian Institute of Chartered Accountants in 1983.

Donald J. Slater, P. Geoph, Vice President, Exploration North

Mr. Slater has 27 years of experience as a Geophysicist in the oil and natural gas industry and was most recently Chief Geophysicist for Prairie Schooner Petroleum, until September 2006.

Prior thereto Mr. Slater was Senior Geophysicist at BG Oil & Gas (formerly El Paso Oil & Gas Inc., formerly Velvet Exploration Ltd.) from 1999 to 2002, working the Central/Southern Alberta area. From 1996 to 1999 Mr. Slater was with Beau Canada Exploration as Senior Geophysicist. Prior thereto Mr. Slater was with Canadian Forest Oil Ltd. (formerly Atcor) from 1993 to 1996, working Southern, Central, Northeast Alberta and Northwest Alberta on a mixture of exploration and development plays. From 1982 to 1993 Mr. Slater spent time with Imperial Oil, TransCanada Pipelines Limited and Gulf Canada acquiring an understanding of seismic processing techniques and Amplitude Versus Offset (AVO) direct hydrocarbon indicators.

Mr. Slater graduated from the University of Saskatchewan with a B.Sc. Geological Engineering (geophysical option) in 1982. He is a member of C.S.E.G., C.S.P.G. and APEGGA.

James French, P. Eng, Vice President, Engineering

Mr. French was Senior/Operations Engineer, Trident Exploration from 2005 to 2007, and prior to that Production Manager with Viking Energy Royalty Trust from 1999 to 2005. Mr. French's expertise is in production completion and reservoir optimization. Prior to 1999, he spent 14 years at Gulf Canada, two years with Silver Bay Resources and two years consulting to a variety of clients.

Mr. French is a member of APPEGA, APEGS and SPE.

James S. Thomson, P. Land, Vice President, Land

Mr. Thomson has more than 31 years of experience as a Landman in the oil and natural gas industry and was most recently Vice-President, Land for Dyno Energy Ltd., a startup private oil and natural gas company.

Prior to Dyno he was a District Landman and Senior Negotiator in the A&D Group for Talisman Energy Inc. with main responsibilities including Northeast British Columbia and Saskatchewan. During 1994 and 1995 Mr. Thomson consulted for various companies including Chipman Energy Inc., Flatland Resources Ltd., Startech Energy Inc., Mobil Oil Canada and Talisman Energy Inc. Prior thereto Mr. Thomson was Manager of Land at Jordan Petroleum Ltd. and Senior Landman for DeKalb Energy Canada Ltd. and Petro Canada Inc. Mr. Thomson started his career as a Surface Landman for Tri-West Consultants Ltd.

Mr. Thomson holds a BA from the University of Calgary and has a P. Land designation from the CAPL.

Bruce Mezei, Eng Geoph. Dipl, BSc (Geology)
Vice President, Exploration South

Mr. Mezei has 24 years of experience in Geology and Geophysics in the oil and gas industry. Mr. Mezei joined Painted Pony in May 2007 as Manager, Geology.

On Nov 27, 2007 he was appointed V.P. Geology. Previously Mr. Mezei was Saskatchewan District Manager of Geology and Geophysics at Innova Exploration Ltd. from April 2004 to April 2007. Prior thereto, Mr. Mezei was Senior Geologist/Geophysicist at Surge Petroleum Ltd. from 2002 to 2004. From 1989 to 2002, Mr. Mezei was Senior Geologist/Geophysicist at Rozsa Petroleum Ltd., a private company.

Mr. Mezei has a Bachelor Science (Geology) from the University of Alberta and an Engineering Science (Geophysics) Diploma from S.A. I.T.

Michael Belenkie, Vice President Corporate Development

Mr. Belenkie has 13 years of experience in the oil and gas industry, primarily in Engineering. Mr. Belenkie joined Painted Pony in September 2008 as Manager Corporate Development, and was appointed Vice President Corporate Development in November 2009.

Previously Mr. Belenkie was Montney Development Team Lead at Talisman Energy, where he was involved in the generating the strategic shift and technical expertise to focus on the Montney as a corporate strategy. During 2006 and 2007 Mr. Belenkie was a management consultant with the firm RLG International, where his clients included BP Alaska and BG Canada. Prior to that, Mr. Belenkie held various roles at Talisman Energy including reservoir, development and production engineering for properties throughout Canada and the Northwestern United States.

Mr. Belenkie holds a B Sc in Mechanical Engineering from the University of Calgary and a Professional Engineer designation from APEGGA.

Mary Kay Axford,
Controller

Ms. Axford has over 27 years of experience in the oil and gas industry and was most recently Controller for Redcliffe Exploration Inc. from April 2007 until February 2008. Prior to Redcliffe, from March 2002 to December 2006, Ms. Axford was Controller for True Energy Inc/True Energy Trust. From March 1999 to May 2001, Ms. Axford served as Assistant Comptroller and Manager, Accounting and Finance for Unocal Canada Limited. Prior thereto, from June 1991, Ms. Axford held several supervisory accounting positions with Unocal Canada Limited. Ms. Axford also held numerous accounting positions from October 1982 to June 1991 with Unocal Corporation in Houston, Texas.

Ms. Axford is a Georgetown University graduate with a Bachelor of Science Degree.

Doug McCartney, Corporate Secretary

Mr. McCartney is a partner with Burstall Winger LLP, where he has practiced since July 2005 with a focus on securities and corporate law. From November 2003 to July, 2005, he was an associate of Eeson & Woolstencroft LLP and prior thereto he was an associate at Gowling Lafleur Henderson LLP and its predecessor firm Code Hunter Wittman. He advises both underwriters and issuers in respect of public and private securities financings, as well as mergers, corporate reorganizations and general corporate matters. Mr. McCartney obtained a Bachelor of Arts degree from the University of Calgary in 1995 and a Bachelor of Law degree from the University of Saskatchewan in 1998. He is the Corporate Secretary of Phoenix Oilfield Hauling Inc. and PanTerra Resource Corp., both of which are publicly traded companies listed on the TSX Venture Exchange and the Corporate Secretary of Canadian Sub-Surface Energy Services Corp., an oil and gas service company listed on the TSX.