Lars Johan Frigstad (1964), Chairman

Mr. Frigstad has 4 years “MSc in Economics and Business Administration” study at the Norwegian School of Economics and Business Administration (NHH) and Prince2 certification in Project Management from SKEMA. He has held financial and management positions both within the financial markets and industrial sectors, whereof 18 years of experience from the geophysical and offshore industry from the publicly listed seismic companies Petroleum Geo-Services (PGS) and SCAN Geophysical from which the last 7 years he held the position as CEO (a listed company with a market cap of NOKb 2.5 involving a total staff of 300 people). He has held the position as CEO of MOORE Energy since 2009.

Ole Fredrik Ekern (1954), Non-Executive Director

Mr. Ekern holds M.Sc. Petroleum Exploration NTH (NTNU) and MBA BI. Mr. Ekern has in-depth international experience ranging from initial exploration to tail-end production from working more than 30 years for various oil and service companies as well as for financial institutions. He has held positions as Senior Manager Exploration and Senior Business Advisor with Saga Petroleum, Technical Director with Nopec, General Director with PGS Reservoir Consultants and VP Business Development/Emerging Markets with PGS Geophysical. More recently Mr. Ekern worked as Petroleum Specialist in the World Bank in Washington DC and he is currently Principal Consultant in Norsk Energi focusing on petroleum policy development and capacity building in developing countries in Africa. He also provides services for development and financing of energy efficiency and renewable energy projects within CIS and Eastern Europe.

Dr. Leonid Surguchev (1960), Non-Executive Director

Dr. Surguchev graduated as Reservoir Engineer (Ph.D.) at Gubkin Petroleum Institute in Moscow and received a Doctor of Technical Sciences degree in 2000. He is currently the CEO of LUKOIL Overseas North Shelf AS in Norway and was recently Senior VP of IRIS (International Research Institute of Stavanger), which performs integrated field studies, reservoir modeling and EOR projects on the Norwegian Shelf and internationally. Dr. Surguchev has previously worked in the Russian oil company Sibneft, Sonatrach in Algeria, IBM, Petec and Smedvig Technologies in Norway. He was awarded the “best scientist of the year Norwegian Rogaland Research Prise” in 1995 and has published more than 100 scientific publications, monographs and papers presented at international symposia and conferences.

Thom Erik Borgen (1969), Non-Executive Director

Mr. Thom Erik Borgen is a partner and specialized business lawyer at the law firm Vogt & Wiig in Oslo. His areas of specialized legal expertise are within corporate finance, M&A, stock exchange, securities, capital markets and compliance. He has extensive experience from private equity and venture capital markets and has previously been partner in a Oslo based investment company. Mr. Borgen has operational experience from developing start up companies to become listed companies within both oil and gas and seismic companies.