KrisEnergy Presentation Templatekrisenergy.com/default/assets/KrisEnergy Corporate Overview... ·...

Corporate Overview

April 2012

© 2012 KrisEnergy Limited

Our Profile Established in 2009, KrisEnergy is an upstream oil and gas

company with a diverse portfolio of exploration, appraisal,

development and production assets in Southeast Asia

• Highly experienced (20+ years)

management and technical team with

proven track record in finding and

developing oil and gas

• Portfolio company of US-based First

Reserve Corporation with up to US$500

million of equity capital

• Fast-track growth

• All technical work undertaken in-house

• Extensive operator experience onshore and

offshore

• Offices in Jakarta, Bangkok, Ho Chi Minh

City and Singapore

*Acquisition pending approval of the Indonesian government


Our Portfolio Key Facts

• 13 contract areas in five core areas:

A. Gulf of Thailand

B. Offshore North Sumatra

C. East Java Sea

D. Kutai/Makassar

E. Offshore Vietnam

• Gross acreage under licence 58,283 sq km

• Operator of seven blocks

• 2012 net production forecast 3,447 boepd from

B8/32, B9A and Glagah-Kambuna TAC

• Three development projects:

• G10/48 and G11/48, Gulf of Thailand

• Block A, offshore Cambodia

• All blocks with exploration upside

A

B

C

D

E


Reserves & Resources Pipeline • Net 2P reserves approx. 17 MMBOE* (94% B8/32 & B9A) • Net total 2C resources 29.2 MMBOE* • Anticipate moving 7.2 MMBOE from 2C resources to 2P reserves in 2012 from G10/48 and G11/48

development projects *Based on management’s best estimates

17.06 mmboe 19.88

mmboe

9.33 mmboe

15.96 mmboe

1.10 mmboe

2.15 mmboe

3.40 mmboe

3.78 mmboe 9.36 mmboe


0.43 mmboe



Our History

KrisEnergy was established in 2009 by Keith Cameron, Chris Gibson-Robinson and

Richard Lorentz, who originated in 2002 Pearl Energy – a highly successful multi-

asset E&P company now owned by the government of Abu Dhabi

2002 2005 2006 2008 2009 2010 2011 2012

Pearl Energy

acquires first

asset in

Indonesia

Pearl Energy lists on

Singapore Exchange

with US$240 million

market cap

Oil production increases to

2,500 bopd at the

Mengoepeh oil field

onshore Sumatra,

Indonesia

Jasmine oilfield starts

production in Gulf of

Thailand

Mubadala acquires

Pearl Energy for

US$833 million

KrisEnergy

established as an

upstream oil and gas

company focused on

Southeast Asia

KrisEnergy acquires eight

assets in Cambodia,

Indonesia, Thailand and

Vietnam

Aabar Petroleum

acquires Pearl in

US$500+ million

takeover transaction

KrisEnergy acquires first

assets - two blocks

offshore in Gulf of

Thailand Krisenergy secures

US$115 mln bond

and credit facility

KrisEnergy becomes

operator of seven blocks

in Indonesia and Vietnam


• Leading private investment firm in the

energy industry, making both private equity

and infrastructure investments throughout

the energy value chain

• >US$20 billion under management in 3

active buyout funds and an energy

infrastructure fund

• Independently owned firm, which has

developed a global platform over nearly

three decades of investing exclusively in

energy with investments of approx. US$13

billion in equity

• First Reserve has invested in over

100 platform acquisitions and its portfolio

companies have completed approx. 300

add-on transactions

• First Reserve holds two of the seven seats

of KrisEnergy’s Board of Directors and has

appointed two independent non-executive

directors

Selected Portfolio Companies*

*A selection of First Reserve’s portfolio companies as of 31 December 2011, www.firstreserve.com

Leading Private Equity Fund Backing

http://www.firstreserve.com/


Key Management & Technical Team

The founders of KrisEnergy have established a reputation for sound business

practices and technical success and have attracted highly experienced individuals

to key roles in the core management team

• Keith Cameron – Chief Executive Officer

• Chris Gibson-Robinson – Director Exploration & Production

• Richard Lorentz – Director Business Development

• Stephen Clifford – Chief Financial Officer

• Kelvin Tang – Vice President Legal

• James Parkin – Vice President Exploration

• Tim Kelly – Vice President Engineering

• Chris Wilson – Manager Business Development

• Mike Whibley – Vice President Technical

• John A. Bujnoch – Vice President Drilling

• Brian Helyer – Vice President Operations

• Geoff Bennett – Chief Geophysicist

Full biographical details for the Management & Technical Team are in Appendix I


Board of Directors

• Keith Cameron – Chief Executive Officer

• Chris Gibson-Robinson – Director Exploration & Production

• Richard Lorentz – Director Business Development

• Will Honeybourne – Non-executive Chairman

• Jeffrey S. MacDonald – Non-executive Director

• Duane C. Radtke – Non-executive Director

• Anastasia Deulina – Non-executive Director

• Keith Pringle – Technical Advisor to the Board of Directors

Full biographical details for the Board of Directors are in Appendix II

First Reserve has two seats on the Board of Directors of KrisEnergy and also

appointed two Independent Directors

operations


PRODUCTION - Thailand

B8/32 & B9A

• Production, development and exploration

• Area: 2,402 sq km

• Location: Gulf of Thailand over the

northern Pattani Basin

• Water depths: 42 to 113 metres

• 2012 net production forecast 2,547 boepd

Partners:

• Chevron 51.66% (Operator)

• PTTEP 25%

• MOECO 16.71%

• KrisEnergy 4.63%

• Palang Sophon 2%

Geology:

• Source: Late Eocene to Late Oligocene lacustrine shales

• Reservoir: Oligo-Miocene fluvial and deltaic sandstones

• Trap: Tilted fault blocks

• Seal: Intra-formational Oligo-Miocene fluvial and deltaic shales


PRODUCTION - Indonesia Glagah-Kambuna TAC

• Status: Production

• Technical Assistance Contract

• Area: 380 sq km

• Location: Offshore North Sumatra in the Malacca Strait

• Water depths: Approx. 40 metres

• 2012 net production forecast 899 boepd

Partners:

• Salamander 50% (Operator)

• KrisEnergy 25%

• Serica Energy 25%

Geology:

• Source: Early Miocene to Early Pliocene coals, carbonaceous

shales and marine mudstones

• Reservoir: Early Miocene Belumai Fm dolomitised carbonate

sandstones

• Trap: Faulted anticline

• Seal: Latest early Miocene intra-formational shales


DEVELOPMENT - Cambodia Block A

• Status: Development and exploration


• Location: Khmer Basin, Gulf of Thailand


Partners:

• Chevron 30% (Operator)

• MOECO 30%

• KrisEnergy 25%

• GS Caltex 15%

Geology:

• Source: Oligocene lacustrine shales

• Reservoir: Early Miocene fluvial sandstones


• Seal: Early Miocene intra-formational fluvial shales

Block A potential platform locations


DEVELOPMENT - Thailand G10/48



• Location: Gulf of Thailand over southern margin

of the Pattini Basin

• Water depths: Up to 60 metres Partners:

• Pearl Energy 75% (Operator)

• KrisEnergy 25%

Geology:






DEVELOPMENT - Thailand G11/48



• Location: Gulf of Thailand over southern margin of

Pattini Basin and northwest margin of Malay Basin

• Water depths: Up to 75 metres

Partners:

• Pearl Energy 75% (Operator)

• KrisEnergy 25%

Geology:






APPRAISAL - Indonesia Bulu PSC

• Status: Appraisal/development pending

• Area: 990 sq km

• Location: Offshore East Java

• Water Depths: 50 to 60 metres

Partners:

• KrisEnergy 42.5% (Operator)

• AWE Ltd 42.5%

• PT Satria Energindo 10%

• PT Satria Wijayakusuma 5%

Geology:

• Source: Primarily Eocene deltaic and lacustrine

coals and carbonaceous shales, and Early Miocene

shallow and deep water marine mudstones

• Reservoir: Early Miocene and Early Oligocene carbonates, Middle Miocene marine sands and Eocene

sandstones

• Trap: Early Miocene carbonate reefs, basement anticlines, tilted fault blocks and stratigraphic pinchouts

• Seal: Regionally sealing Early Miocene sales and Early to Late Oligocene intra-formational shales


APPRAISAL - Indonesia East Muriah PSC*



• Location: Offshore East Java

• Water Depths: 50 to 65 metres

Partners:

• KrisEnergy 50% (Operator)

• AWE Ltd 50%

Geology:

• Source: Eocene deltaic and lacustrine coals

and carbonaceous shales, and Early Miocene

shallow and deep water marine mudstones

• Reservoir: Early Miocene and Early Oligocene

carbonates, Middle Miocene marine sands and

Eocene sandstones

• Trap: Early Miocene carbonate reefs, basement anticlines, tilted fault blocks and stratigraphic pinchouts

• Seal: Regionally sealing Early Miocene sales and Early to Late Oligocene intra-formational shales

*Acquisition pending approval by the Indonesian government


APPRAISAL - Indonesia Kutai PSC


• Area: 2,832 sq km, one onshore and three

offshore areas

• Location: Mahakam River delta, East Kalimantan

• Water Depths: Onshore to 200 metres

Partners:

• KrisEnergy 54.6% (Operator)

• Salamander Energy 23.4 %

• Orchid Kutai Ltd 22%

Geology:

• Source: Early Miocene to Early Pliocene coals, carbonaceous

shales and marine mudstones

• Reservoir: Middle Miocene to Pliocene deltaic sandstones

• Trap: Faulted anticlines, tilted fault blocks, stratigraphic

channels and carbonate build-ups

• Seal: Middle Miocene to Pliocene intra-formational shales


EXPLORATION - Indonesia

East Seruway PSC

• KrisEnergy working interest 100% and operator

• Status: Exploration


• Location: Offshore North Sumatra Basin

• Water Depths: 25-60 metres

Geology:

• Source: Early Miocene to Early Pliocene coals,

carbonaceous shales and marine mudstones

• Reservoir: Early Miocene Belumai Fm

carbonates and basement

• Trap: Carbonate reefs/build-ups and fault blocks

• Seal: Early Miocene intra-formational shales


EXPLORATION - Indonesia Tanjung Aru PSC



• Location: Southern edge of the Kutai Basin

• Water Depths: 20 metres to over 1,000 metres

Partners:

• KrisEnergy 43% (Operator)

• Neon Energy 42%

• Natuna Ventures Pte Ltd 15%

Geology:

• Source: Early Miocene-Pliocene coals and

carbonaceous shales

• Reservoir: Middle Miocene to Pliocene deltaic

sandstones

• Trap: Structural and stratigraphic pinch-out plays

• Seal: Middle Miocene to Pliocene intra-formational

shales


EXPLORATION - Vietnam Block 105



• Location: Central Song Hong Basin


Partners:

• KrisEnergy 50% (Operator)*

• Neon Energy 50%

Geology:

• Source: Oligocene to Middle Miocene lacustrine shales and

Miocene to Pliocene marine shales

• Reservoir: Oligocene to Pliocene deltaic, marginal marine

and turbidite fan sands

• Trap: Tilted fault blocks, rollover and faulted anticlines and

turbidite fans

• Seal: Oligocene to Pilocene regional and intra-formational

shales Song Ca

prospect

Cua Lo

prospect

*Acquisition of 10% pending approval by the Vietnamese government


EXPLORATION - Vietnam Block 120



• Location: South China Sea overlying Quang Ngai

Graben in north and central areas, passing into Phu

Khanh Basin in the south

• Water depths: 50 to 1,100 metres

Partners:

• KrisEnergy 50% (Operator)*

• Neon Energy 50%

Geology:

• Source: Oligocene lacustrine shales

• Reservoir: Oligocene fluvial sands, Miocene carbonate reefs

and turbidite fan sands

• Trap: Tilted fault blocks, faulted anticlines, carbonate reefs

and turbidite fans

• Seal: Oligo-Miocene intra-formational shales Rua Bien prospect *Acquisition of 10% pending approval by the Vietnamese government


Diversity Across the Value Chain

Least mature assets Most mature assets

Glagah-Kambuna

Indonesia

B8/32

Thailand

B9A

Thailand

Kutai

Indonesia

Block A

Cambodia

Prospective Contingent Undeveloped Developed

G11/48

Thailand

G10/48

Thailand

Block 105

Vietnam

Block A

Cambodia

Block 120

Vietnam

G11/48

Thailand

G10/48

Thailand

East Muriah

Indonesia

Bulu

Indonesia

East Seruway

Indonesia JSAs

Indonesia Tanjung Aru

Indonesia

KrisEnergy’s asset portfolio as at January 2012:

appendices


APPENDIX I – Management & Technical Team

Keith Gordon Cameron Chief Executive Officer

A founding director of KrisEnergy, Keith Cameron was previously a co-founder and the Chief

Executive Officer of Pearl Energy, which was publicly listed on the Singapore Exchange in 2005 and

acquired by Abu Dhabi-based Aabar Petroleum Investments Company PJSC in 2006. Keith was

appointed Special Advisor to Aabar until 2008 when Pearl Energy was acquired by Mubadala

Development Company PJSC.

Keith is a Chartered Accountant with more than 30 years of experience in the oil and gas industry, of

which 25 years have been in Southeast Asia. Prior to Pearl Energy, Keith held executive positions as

CFO and VP Finance for Gulf Indonesia Resources Ltd., in Indonesia, and Group VP Finance for

Asamera Inc., based in Canada, and was also posted to Bermuda.

Keith has been a registered Chartered Accountant since 1970 and is a Fellow of the Institute of

Chartered Accountants of England and Wales and a member of the Canadian Institute of Chartered

Accountants and the Institute of Chartered Accountants of Alberta, Canada.



Chris Gibson-Robinson Director Exploration & Production

A founding director of KrisEnergy, Chris Gibson-Robinson was a co-founder of Pearl Energy and

was responsible for all technical aspects of the group’s exploration and production as well as for

strategic planning.

Chris is a petroleum geologist with 34 years of experience, largely in Asia, but also in the Middle

East, Africa and South America. Following the acquisition of Pearl Energy by Aabar Petroleum

Investments Company PJSC in 2006, Chris assumed the roles of VP Operations and VP New

Ventures (Southeast Asia), and was a member of Aabar’s Senior Executive Team until 2008 when

Pearl Energy was acquired by Mubadala Development Company PJSC.

His previous positions include Exploration & New Ventures Manager for Gulf Indonesia Resources

Ltd., General Manager for Premier Oil (Halmahera) Ltd., President and co-owner of Far East

Exploration Co. Ltd. and VP Exploration for Trend International Ltd.

Chris is a Chartered Geologist and a Chartered Scientist, a Fellow of the Geological Society of

London and a member of the Indonesian Petroleum Association, the South East Asia Petroleum

Exploration Society and the Petroleum Exploration Society of Great Britain. He holds a Master of

Science in Marine Earth Science (Geology & Geophysics) from University College London and

Bachelor of Science and Associate Royal School of Mines degrees from Imperial College, University

of London.



Richard Lorentz Director Business Development

A founding director of KrisEnergy, Richard Lorentz was a co-founder of Pearl Energy and was

responsible for the strategic development of the group’s worldwide portfolio. Following the

acquisition of Pearl Energy by Aabar Petroleum Investments Company PJSC in 2006, Richard

assumed the role of VP New Ventures & Corporate Relations and was a member of Aabar’s Senior

Executive Team until 2008 when Pearl Energy was acquired by Mubadala Development Company

PJSC.

He is a petroleum geologist with more than 30 years of experience in the oil and gas industry.

Previous key positions include Manager of New Business Development for Elf Aquitaine in

Singapore, New Ventures & Exploration Manager for Gulf Indonesia Resources Ltd., and Senior

Production Geologist for Asamera (South Sumatra) Ltd. He has also worked for Oriental Petroleum

& Minerals in the Philippines, Funk Exploration Inc. in the United States and Anglo-Suisse (Pakistan)

Inc. based in Karachi. Richard currently serves as non-executive Chairman for Franklin Offshore

Marine, based in Singapore.

He is a member of the Indonesian Petroleum Association, American Association of Petroleum

Geologists, Oklahoma Geological Society and the South East Asia Petroleum Exploration Society.

Richard holds a Master of Science (Geology) from the University of the Philippines and a Bachelor

of Science (Geology) from Oklahoma State University.



Stephen Clifford Chief Financial Officer

A Chartered Certified Accountant, Steve Clifford is a senior level finance professional with 20 years

of oil and gas industry experience in international locations throughout the eastern hemisphere.

Prior to KrisEnergy, Steve was appointed Chief Financial Officer for Pearl Energy and also Group

Financial Controller for the upstream division of parent company, Mubadala Development Company

PJSC. Steve also held various positions in an 18-year career with Halliburton Company where he

gained a wealth of oil and gas industry experience in the Middle East, Africa, Asia, the United States

and Europe.

He is also a Certified Compliance Officer and holds a Bachelor of Arts (Business Studies) from

Hatfield University in the UK.



Kelvin Tang Vice President Legal

Kelvin Tang is General Counsel for KrisEnergy responsible for the legal and regulatory functions of

the company. Most recently, Kelvin was General Counsel for Aabar Energy PJSC based in Abu

Dhabi after having held the position of General Counsel and Company Secretary at Pearl Energy

between 2005 and 2008.

Between 2003 and 2004, Kelvin was a legal associate at Wong Partnership and Clifford Chance

Wong (a joint law venture between Wong Partnership and Clifford Chance), an Associate Director

(Legal) at Temasek Holdings Pte Ltd (2000–2003) and a legal associate in the Technology Practice

Group of Rajah & Tann (2000–2002).

Kelvin holds a Bachelor of Law from the National University of Singapore and is an Advocate and

Solicitor of the Supreme Court of Singapore. He is also a member of the Association of International

Petroleum Negotiators.



James Parkin Vice President Exploration

James Parkin has 30 years of experience in the oil and gas exploration and production sector and

has spent the last 19 years in Southeast Asia. During this period of his career, James was involved

in the gas fields of South Sumatra, the carbonate oil fields of Salawati/Irian Jaya, the discovery of

the Ujung Pangkah gas field in East Java, and the development of the Jasmine oil field in the Gulf of

Thailand.

James held the position of Corporate Exploration Manager at Pearl Energy between 2003 and 2008

and Regional Vice President Southeast Asia from 2008 to 2009, and has worked previously with

British Gas, Petromer Trend, Union Texas Petroleum and ConocoPhillips.

James has a BSc. (Hons) in Geology from the University of Sheffield and an MSc. in Petroleum

Geology from Imperial College, University of London. James is a member of the South East Asia

Petroleum Exploration Society, the Indonesian Petroleum Association and the Petroleum Exploration

Society of Great Britain.



Tim Kelly Vice President Engineering

Tim Kelly has over 30 years of experience in the oil industry and has spent the last 20 years in

Southeast Asia, during which time he has been involved in the appraisal and development of new

fields and the reservoir and production management of mature fields.

He has major oil company experience with Exxon, Phillips and Marathon and was Corporate

Petroleum Engineering Manager at Pearl Energy between 2003 and 2009.

In 2000-2001, Tim conducted the on-site drill-stem testing activities for the 400 MMBO Cepu

discovery and appraisal wells in Indonesia. While at Marathon, Tim drill-stem tested exploration

wells in Belize, Brazil, Egypt, Tunisia, Syria, Indonesia and Australia.

He holds a Bachelor of Science (Petroleum Engineering) from the Colorado School of Mines.



Chris Wilson Manager Business Development

Chris Wilson is a strategist regarding economics and corporate and asset valuations. Between 2003

and 2009, Chris was the in-house Financial Advisor for Pearl Energy and worked on Pearl Energy's

initial public offering in 2005, the Group's reserves-based debt facilities and transactions with

strategic equity investors.

He also has held a key role at ABN AMRO in Singapore in the Project Advisory Group focused on

the power, oil and gas sectors dealing in mergers and acquisitions, restructurings and debt

financings.

Chris began his career in Asia in 1993 as a private equity analyst for Chase Capital Partners in Hong

Kong. He holds a Master of Arts (China Studies) from the Paul H. Nitze School of Advanced

International Studies in Washington D.C., and a Bachelor of Arts (International Relations) from John

Hopkins University, Baltimore in Maryland, in the United States.



Michael Whibley Vice President Technical

Geologist Michael Whibley has over 30 years of management, operational and interpretive

experience in exploration and development projects and new business development. He has been

based in Asia for the last 19 years, most recently as an Advisor with Pearl Energy.

Prior exploration, country manager and technical roles were with Amerada Hess, Santa Fe

Energy/Devon Energy/PetroChina, Santos and Apache Energy in Southeast Asia, and Occidental

Petroleum and Phillips Petroleum in Australia.

Mike's experience is predominantly throughout Asia (Indonesia, Thailand, Indochina and South Asia)

and Australasia (Papau New Guinea, Timor Sea, North West Shelf). His most notable recent "hands-

on" appraisal - development projects have been the carbonate fields of Mudi, Sukowati and Ujung

Pangkah in East Java, and the Bentu-Segat-Seng gas fields in Central Sumatra.

Mike graduated from the University of Western Australia with a Bachelor of Science (Hons) in

Geology and is a member of the Indonesian Petroleum Association, South East Asian Exploration

Society and the American Association of Petroleum Geologists.



John A. Bujnoch Vice President Drilling

John A. Bujnoch has over 30 years of experience as a drilling engineer and rig site manager in the

oil and gas industry including drilling and workover engineering and well design, project

management and implementation, and quality management.

John began his career with Conoco Inc. in Houston in the United States in 1979 and in the ensuing

27 years worked in various locations including Indonesia, Qatar, United Arab Emirates, the Gulf of

Mexico in the United States and the United Kingdom North Sea. His experience includes holding the

positions of Drilling Superintendent in Qatar on a billion dollar development drilling programme to

supply liquefied natural gas to the United States and Japan, and Well Operations Co-ordinator on

the Belanak development project in the Natuna Sea, Indonesia.

From November 2006 until December 2009, John held the position of Vice President Drilling for

Pearl Oil (Thailand), where he was responsible for exploration and development drilling in Thailand

and Vietnam. During this period, the company drilled more than 100 wells in the region and brought

four platforms into production.

John is a non-executive Director of Global Tender. He holds a Bachelor degree in Meteorology from

the University of St. Thomas in Texas and is a member of the Society of Petroleum Engineers.



Brian Helyer Vice President Operations

Brian Helyer has worked in the offshore oil and gas industry for over 30 years covering all aspects of

project management for facilities construction, operations, maintenance and commissioning.

Prior to joining KrisEnergy in March 2010, Brian was the Project and Operations Director for Songa

Floating Production, responsible for the conversion and class approval of the floating production,

storage and offloading vessel, FPSO East Fortune.

His experience includes appointments with Petrofac Energy Developments, Marathon Oil and Gulf

Resources in various locations including Indonesia, Malaysia, Tunisia and the United Kingdom.

While in Malaysia, Brian was involved in the fast-track field development of the Cendor oil field in PM

304.

Brian has attained the National Examination Board in Occupational Safety and Health (NEBOSH)

professional safety accreditation and is a member of the International Institute of Risk Management

(IIRM) and the Institute of Occupational Safety and Health (IOSH).



Geoff Bennett Chief Geophysicist

Geoff Bennett has 34 years of experience in oil and gas exploration, including 23 years in Southeast

Asia. His expertise lies in prospect evaluation and geophysical operations. Geoff was instrumental in

the discovery of several large gas fields in Sumatra and the development of the Jasmine oil field in

Thailand.

Geoff worked with Pearl Energy on projects in Indonesia, Thailand, the Philippines and Vietnam

from 2003 to 2009. In his previous career, he held senior technical positions with Shell Canada,

Sundance Oil, Asamera Oil and Gulf Indonesia.

He holds a B.Eng. in Mechanical Engineering from the Royal Military College of Canada and an

MSc. in Geophysics from the University of British Columbia.


APPENDIX II – Board of Directors

(Details for Keith Cameron, Chris Gibson-Robinson and Richard Lorentz are in APPENDIX I)

Will Honeybourne Non-executive Chairman

Will Honeybourne is a Managing Director of First Reserve, a preeminent global private investment

firm with a single focus in the energy industry. Mr. Honeybourne’s responsibilities include investment

origination, structuring, oversight, as well as providing strategic growth assistance to portfolio

companies in the E&P and oilfield services sectors.

In addition to KrisEnergy, he currently serves as a Director on the boards of Barra Energia Petroleo

e Gas (Brazil), Acteon Group Limited (UK), and Exterran Holdings, Inc. Mr Honeybourne’s

experience on more than 15 boards includes serving as a Director of Hong Kong listed CNOOC Ltd.

Prior to joining First Reserve in January 1999, Mr. Honeybourne was Senior Vice President of

Western Atlas International. Prior to that time, he served as President and Chief Executive Officer of

Alberta-based Computalog. His earlier career was primarily with Baker Hughes, including positions

as Vice President and General Manager at INTEQ and President of EXLOG.

Mr. Honeybourne holds a BSc., ARSM in Oil Technology from Imperial College, London University,

and is a member of the Society of Petroleum Engineers and the Society of Exploration

Geophysicists. He currently serves as a Director of the Petroleum Equipment Suppliers Association.



Jeffrey S. MacDonald Non-executive Director

Jeffrey S. MacDonald joined First Reserve in 2007 and was a Managing Director based in London.

His responsibilities included investment origination, structuring, execution, monitoring and exit

strategy, with particular emphasis on the oil and gas reserves sector. Mr. MacDonald is a member of

the group's Operations Committee.

Prior to joining First Reserve, Mr. MacDonald was the Chief Executive Officer at Caledonia Oil and

Gas Limited, a UK independent E&P company. Prior to Caledonia, he served as a Managing

Director at Highland Energy Limited, also a UK independent E&P company. Before joining Highland,

he was the Managing Director & Chairman at Blackwatch Petroleum Services Ltd, an international

E&P consultancy.

Earlier experiences include Managing Director at Production Testing Services, primarily managing

Russia and the Middle East, and as an engineer and project manager with Conoco Inc. in London,

Dubai and Houston. Mr. MacDonald holds a BSc. (Hons) in Civil Engineering from Glasgow

University.



Duane C. Radtke Non-executive Director

Duane C. Radtke joined the Board of Directors of KrisEnergy in 2010. He is President and Chief

Executive Office of Valiant Exploration LLC, and also serves on the Board of Devon Energy. He is

also Non-Executive Chairman and a member of the Board of Directors for NFR Energy LLC.

From 2001 to 2007, Mr. Radtke held the position of President and CEO of Dominion Exploration and

Production, a subsidiary of Dominion Resources Inc. Following the merger of Devon Energy and

Santa Fe Snyder in 2000, Mr. Radtke served as President of Devon’s international division until

joining Dominion Resources.

Mr. Radtke began his career in the energy industry in 1971 as an engineer for Texas Pacific Oil

Company. He holds a Bachelor degree in mining engineering from the University of Wisconsin in the

United States.



Anastasia Deulina Non-executive Director

Anastasia Deulina is a Director with First Reserve based in London. Ms. Deulina’s responsibilities

range from deal origination and structuring to due diligence, execution and monitoring, with

particular focus on the reserve sectors of the energy industry.

Prior to joining First Reserve, Ms. Deulina was a Vice President at Goldman Sachs. Prior to

Goldman Sachs, she was a Vice President at Merrill Lynch. Earlier experiences include positions

with the World Bank Moscow Resident Mission and the All-Russian Foreign Trade Academy in

Moscow.

Ms. Deulina holds a Bachelor of Science (Economics and Management) from the Moscow State

Geological Prospecting Academy and an MA degree in Energy & Mineral Resources from the

University of Texas.


APPENDIX II − Board of Directors

Keith J. Pringle Technical Advisor to the Board of Directors

Keith J. Pringle recently spent three years with First Reserve from 2007 and was a director based in

London. His responsibilities included investment origination, structuring, execution, monitoring and

exit strategy, with particular emphasis on the reserves sector.

Mr. Pringle was a Non-Executive Director of KrisEnergy until August 2010 and is now Technical

Advisor to the Board of Directors. He is a Non-Executive Director of Remora Energy, an

independent oil and gas company with operations in Colombia, and he also advises a number of

exploration and production companies on strategy and technical matters.

Prior to joining First Reserve, Mr. Pringle was part of a small team that successfully started, built up

and divested a number of independent oil and gas companies. He served as an Executive Director

at Caledonia Oil and Gas Limited and at Highland Energy Limited.

Before founding Highland, Mr. Pringle was an Executive Director at Blackwatch Petroleum Services

Ltd. Other previous experience includes the role of Senior Reservoir Engineer for Clyde Petroleum

Plc and Conoco Inc.

Mr. Pringle holds a Bachelor of Science (Hons) in Geology from Edinburgh University and a Master

of Science in Petroleum Engineering from Strathclyde University. He is a member of the Society of

Petroleum Engineers.

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