Executive Officers

Mr. Josey has served as Chairman of the Board since August 2001. In October 2002, Mr. Josey was also appointed Chief Executive Officer and in February 2005 was appointed President. From 2000 to 2001, Mr. Josey served as Vice President of Enron North American Corp. and co-managed its Energy Capital Resources group. From 1995 to 2000, Mr. Josey was the managing partner of Sagestone Capital, which provided investment banking services to the oil and gas industry and portfolio management services. Prior to joining Sagestone Capital, Mr. Josey was a Director with Enron Capital & Trade Resources Corp. in its energy investment group from 1993 to 1995. From 1982 to 1993, Mr. Josey worked in all phases of drilling, production, pipeline, corporate planning and commercial activities at Texas Oil and Gas Corp. Mr. Josey is a member of the Society of Petroleum Engineers and the Independent Producers Association of America.