Mr Ashby-Rudd joined Tristone Capital in September 2005 as Executive managing Director of International Operations. Prior to joining Tristone, Mr Ashby-Rudd managed the London operations of Waterous & Co between 2002 and 2005 and was responsible for expanding the business threefold over this time period. Before joining Waterous, Mr Ashby-Rudd spent 12 years working in Energy investment Banking, initially for Dresdner Kleinwort Benson and then at Citigroup. Mr Ashby-Rudd has focused throughout his career on the international E&P sector and has significant international experience having worked in Russia, Eastern Europe, the Far East and North America. During this time he has lived in Hong Kong, Australia and the USA which has provided him with a unique insight into the international E&P sector and a diverse international contact base.

Mr Shafiq joined Tristone Capital in September 2005 as Director, Investment Banking. Mr Shafiq joined Tristone after three years with Waterous & Co, where he was a Director responsible for international acquisitions and divestment transactions. Prior to joining Waterous, Mr Shafiq worked for Dynegy Trading in the UK where he was responsible for origination in the European gas markets and acquisitions in the UK gas and power market. Mr Shafiq started his career with Mobil in Europe where he worked for thirteen years in various functions including production and reservoir engineering and commercial roles.

Mr Shafiq holds an honours degree in Nuclear Engineering from Manchester University, a masters Degree in Petroleum Engineering from Heriot-Watt University and an MBA from London Business School.

Mr Morgan joined Tristone Capital in July 2006 as a Director of Investment Banking. Prior to joining Tristone, Mr Morgan worked at Williams de Broe, providing corporate finance and corporate broking services and advice to companies in the natural resources sector, working on transactions including IPOs, fund raisings, disposals and other M&A based activity. Previously to this, Mr Morgan worked at HSBC Investment Bank as a member of the Growth Companies team providing capital markets and M&A advice to a portfolio of retained clients. Mr Morgan qualified as a Chartered Accountant at PwC and graduated in Classics from Exeter University.

Mr. Beltgens joined Tristone as an Associate in the Investment Banking department in May 2007. Previously he worked in the global equity research group as a discretionary asset manager. Mr. Beltgens holds an MBA (Dean's list) from the University of Toronto, and a Bachelor of Science (with distinction) from the University of Victoria. He is currently enrolled in the Chartered Financial Analyst program.

Mr. Smith joined Tristone's Investment Banking Group in February 2005. He holds a Bachelor of Business Administration with Computer Science degree from Acadia University. Mr. Smith earned Academic All-Canadian honours and was awarded the Cox Medal & Cup, which is awarded annually to the most representative male student on the basis of excellence in intercollegiate athletics, other extracurricular activities and scholarship.

Mr. Smith has passed the Level III exam of the Chartered Financial Analyst program.

Mr. Colegrave joined Tristone's Investment Banking Group in March 2008. Prior to this, Mr. Colegrave worked for CIBC World Markets, initially on the European Graduate programme, where he gained extensive experience in all front offices, and subsequently he was promoted to an analyst for the Energy group within the Mergers & Acquisitions department. Mr. Colegrave began his career with Barclays Private Clients International as an Investment Manager.

Mr. Colegrave holds a Bachelor of Science degree in Banking & International Finance from Cass Business School, UK during which he was awarded and completed a one year scholarship at the University of Illinois, USA.

Mr. Magnani joined Tristone's Investment Banking Group in September 2008. Prior to joining Tristone, Mr. Magnani worked for the Morgan Stanley Securitised Products Group and subsequently worked for the Equity-Linked team within the Global Capital Markets department. During his time at Morgan Stanley, Mr. Magnani has been extensively involved in a number of public securitisations of financial assets and principal finance projects in the asset backed space.

Mr. Magnani holds a Master of Science degree in Electrical Engineering from Imperial College London, and a Diplome D'Ingenieur from INSA Lyon, France.

Mr. Llamas joined Tristone Capital in September 2005 as Managing Director, Acquisitions and Divestitures, with responsibility for international A&D transactions. Mr. Llamas joined Tristone after five and a half years with Waterous & Co, where he was a Managing Director of the London operation. Mr. Llamas has led acquisition and divestment projects located in the North Sea, the Middle East, North Africa, West Africa, Onshore Europe,Latin America and South East Asia. Prior to working in the A&D advisory sector, Mr. Llamas gained 14 years of technical experience with Shell, where he held a variety of geological and geophysical roles in both exploration and development teams and as the Lead Geoscientist at a 3D visualization centre located within Imperial College, London University serving both academia and the oil and gas industry.

Mr. Llamas holds an honours degree in Geology and Biology and a Master of Science degree in Sedimentology, both from the University of London.He is a member of the PESGB (Petroleum Exploration Society of Great Britain) and the EPNG (European Petroleum Negotiators Group).

Mr Bakker joined Tristone Capital in October 2006 as a Director of Acquisitions and Divestitures. Mr Bakker has gained over 20 years of international technical and commercial experience. He worked for Shell in Turkey, The Netherlands, Oman and the United Kingdom in a variety of functions in geology, geophysics and acquisitions & divestitures.

Mr Bakker holds a Master of Science degree in Geology from the University of Amsterdam, The Netherlands. He is a member of the Petroleum Exploration Society of Great Britain (PESGB), the Society of Petroleum Engineers (SPE - London Section) and of the European Petroleum Negotiators Group (EPNG). Until end 2007 Mr Bakker was a non-executive Director and board member of the Richmond Fellowship Employment and Training (RFET), part of the Richmond Fellowship Group, one of the biggest providers of mental health care in the United Kingdom.

Ms McAleer joined Tristone in October 2007 as Data Room Administrator for Acquisition and Divestitures. Ms McAleer has 13 years of experience in the oil and gas industry with Shell, based in Aberdeen, delivering multiple data rooms for the A&D team. Ms McAleer has an extensive industry track record delivering data rooms for mature assets as well as exploration opportunities. Assets divested include Kittiwake, Auk, Fulmar, Tern, Eider, Cormorant, Montrose, Arbroath and Curlew in the North Sea. Ms McAleer also has led data rooms internationally for opportunities in Norway and the Netherlands, and has transaction process experience in Egypt, Hong Kong and the Gulf of Mexico.

Ms McAleer holds a Diploma in Business Administration.

Mr. Chunara joined Tristone Capital in April 2007 as Associate, Acquisitions and Divestitures. Mr. Chunara joined with over 6 years of experience in both the upstream and downstream segments of the Oil & Gas industry. Prior to starting at Tristone, Mr. Chunara was employed as a Reservoir Engineer working on a number of North Sea assets for Total in Aberdeen. He also has experience in Reservoir Engineering with ConocoPhillips and worked for a year as a Process Engineer for Foster Wheeler Energy, working on the design of a downstream facility in Saudi Arabia.

Mr. Chunara holds a Master of Science degree in Petroleum Engineering from Imperial College, London and a Bachelor of Engineering degree in Chemical Engineering from University College, London. He is also a member of the London section of the SPE (Society of Petroleum Engineers).

Mr. Urquhart joined Tristone Capital in June 2007 as Associate, Acquisitions and Divestitures. Mr. Urquhart joined Tristone after three years with Pengrowth Corporation where he was a Reservoir Engineer responsible for evaluation and execution of development opportunities in their western Canadian assets. Mr. Urquhart started his career with Schlumberger Canada where he was a Field Engineer in their Well Services division. Mr. Urquhart holds a Diploma in Engineering from St. Francis Xavier University, a Bachelor of Science in Mechanical Engineering from Dalhousie University, and is a MBA candidate at the University of Calgary. He is also a member of the Canadian section of the SPE (Society of Petroleum Engineers).

Ms. Murray joined Tristone Capital in September 2008 as Associate, Acquisitions and Divestitures. Ms. Murray joined Tristone from Challenge Energy Ltd. where she was a Geoscientist assisting clients with commercial and technical solutions in both the upstream and downstream segments of the Oil & Gas industry. Ms. Murray started her career with the Petroleum Affairs Division of the Irish government where she was a Geologist in their technical department. Ms. Murray holds a Bachelor of Science in Earth Science from the National University of Ireland, Galway. She is also a member of the London section of the SPE (Society of Petroleum Engineers) and the PESGB (Petroleum Exploration Society of Great Britain).

Mr. Lesser joined Tristone Capital in June 2006 as Managing Director, Institutional Sales. He joined from UBS, where he was Director, European energy equities. He spent the previous eight years in the oil and gas equity research team. His team became Europe's number one oil and gas research team (Reuters, Exte, etc), and was voted the number one equity team across any industry in Europe. Mr. Lesser's expertise is in mid-cap equities, and with hedge funds and global investors. Mr. Lesser holds a Masters degree from Cambridge University.

Dr. Grudniewicz joined Tristone Capital in December 2005 as Director, Institutional Sales within International Capital Markets. Following a brief period at BP, he joined the financial sector, training as an equity analyst in the oil & gas sector and progressively migrating to a sector research marketing role. He has worked exclusively in the energy sector and has strong and long-standing relationships with a broad spectrum of European investors. Dr. Grudniewicz joined Tristone Capital after seventeen years at Merrill Lynch and predecessor firms, followed by some 5 years at ABN AMRO.

Dr. Grudniewicz holds a First in Mathematics from London University and a PhD in Differential Equation Theory from the same College.

Mr. Maurer joined Tristone in October 2003 as Associate, Institutional Trading. Prior to joining Tristone, Mr. Maurer was an Associate at BMO Nesbitt Burns, a Canadian national investment firm. Mr. Maurer joined BMO Nesbitt Burns from the Canadian operations strategy group at Talisman Energy Inc, an independent upstream oil and gas company. In March 2008, Mr. Maurer relocated to our London office.

Mr. Maurer holds a Bachelor of Commerce degree, with distinction, from the University of Calgary where he specialized in Finance. He is a candidate in the Chartered Financial Analyst program. Mr. Maurer has earned his FMA designation and is currently working towards obtaining his FCSI designation from the CSI Institute.

Mr. Hodgson joined Tristone Capital in January 2006 from Sarbacan Capital, where he worked as Fund Manager for a Global Long-Short Equity and Derivative fund. Prior to London, Mr. Hodgson was a proprietary equity options and volatility trader for Group One Trading, and a member of the American Stock Exchange for four years.

Mr. Hodgson holds a BS degree in Finance from the Wharton School (Pennsylvania), an Investment Management Certificate, and is currently working towards a CFA designation.

Mr. Penny joined Tristone in August 2005 with more than 30 years of experience in the energy and banking sectors. Prior to joining Tristone, he was Managing Director and Co-Head of Sales and Trading at Scotia Capital (formerly Mcleod Young Weir). Mr. Penny's experience has been focused on the energy sector where he integrated the Geneva operation into London upon acquisition in 1996 and developed a trading desk in London that worked in conjunction with its Canadian operations.

Mr. Penny is a graduate of Fettes College Edinburgh and Summerfields School Oxford

Mr. Wellesley joined Tristone Capital in March 2006. He came from broker WH Ireland where he advised and traded for high net worth accounts and London based hedge funds covering the energy and resources sector. Before that Mr. Wellesley ran his own trading office focusing on U.K., Far East and U.S. Prior to that he spent ten years at Merrill Lynch running a trading desk of five individuals who were part of a global proprietary which covered the energy market in the Far East.

Mr. Nicol joined Tristone Capital in September 2005 to build the international research, sales and trading capabilities in London. Prior to joining Tristone, Mr Nicol was Global Sector Director for Oil and Gas at ABN AMRO from 1999 to 2005, where he led the oil research into one of the top-rated teams in London. Previously Mr Nicol was Head of European Oil Research at Goldman Sachs (1993-1999) and S.G. Warburg 1988-1993. Mr. Nicol has extensive experience in oil industry privatisations including PetroChina, Petrobras, Repsol, ENI and Total and corporate transactions in the UK E&P sector involving Enterprise Oil, Lasmo and Ultramar. Prior to entering the financial community Mr. Nicol spent 6 years working for the British National Oil Corporation in a variety of commercial roles.

Mr. Pierce joined Tristone in May 2004 and is responsible for institutional equity research. His most recent duties include coverage of international companies out of the UK office. More recently he worked as a wellsite geologist over a period of five years for numerous companies across the Western Canadian Sedimentary Basin on a contract basis. Prior thereto, Mr. Pierce worked for three years across North and Latin America as a geologist in the mining and exploration industry.

Mr. Pierce holds a Bachelor of Science degree in Geology from the University of Victoria, and an M.B.A. from the University of Toronto.

Mr. Mirzai joined Tristone in May 2006 and is responsible for institutional equity research, covering international companies out of the London office. After a brief period with Texaco assisting the Joint Interest Properties team in Aberdeen, he worked within the Investment Funds industry as a fund accountant over a period of six years for several companies in Dublin, Luxembourg & Edinburgh. Mr. Mirzai holds a Bachelor of Science degree with Honours in Petroleum Geology and a M.Sc. from the University of Aberdeen, Scotland.

Mr. Van Erp joined Tristone in January 2007 as an Equity Analyst in the Institutional Research Department and is responsible for institutional equity research, covering international companies out of the London office. After a brief period with Shell Hydrogen as a business development analyst for Asia in Amsterdam he joined INTEC Engineering as a Offshore Pipeline and Marine Terminal Engineer in Delft. Mr. Van Erp holds a Bachelor of Engineering degree with Honours in Technology and Management of the Professional University of Amsterdam and a M.Sc. from the University of Aberdeen, Scotland.

Mr. Wilson joined Tristone in November 2007 and is responsible for institutional equity research covering international companies out of the London office. Mr Wilson started his career as a Wireline Logging Engineer with Western Atlas in Saudi Arabia and subsequently worked for nine years in technical and commercial roles for Baker Atlas Logging Services around the Middle East, The Netherlands and Norway.

Mr. Wilson  holds a Bachelor of Engineering degree from the University of Manchester, holds Chartered Engineer Status with the Institute of Materials, Minerals and Mining and completed an M.B.A. from INSEAD in 2007.

Ms. Loppacher joined Tristone in August 2007 as an Institutional Research Associate. Prior to that, she obtained her Masters of Financial Economics from the University of Oxford. Ms. Loppacher also holds a Bachelor of Commerce with a major in Finance from the University of Saskatchewan.

Ms. Manarin joined Tristone Capital in October 2005 as Business Manager, providing administrative and financial support to the UK operation. Prior to joining Tristone, Ms. Manarin worked for Waterous & Co in London as Manager Human Resources and Administration for over 4 years. Before joining Waterous she worked for Enron in Sao Paulo for 3 years, reporting directly to the Co-Chairman and CEO for the Latin American operation. Ms. Manarin gained 18 years of administrative experience with blue-chip companies such as British Gas, Lloyds Bank and Motorola in Latin America. Ms. Manarin holds a Master of Communication and Public Relations degree from FIAM (Sao Paulo, Brazil) and is a part-qualified accountant (CIMA - Chartered Institute of Management Accountants, London). She is also a full member of the AAT (Association of Accounting Technicians - MAAT).

Mrs. Sandell joined Tristone Capital as administrative assistant supporting Capital Markets in November 2006, and in December 2007 took over the responsibility of office manager for the London office. Before joining Tristone she worked as a paralegal assistant in the intellectual property field.  Prior to that, she worked as an IT Support Team Coordinator for Ericsson Telecommunications and Enron South America in Sao Paulo, Brazil.

Mrs. Sandell holds a Bachelor degree in Computer Science from Mackenzie University in Sao Paulo.