Timothy Mulroney Elliott

Dubai, United Arab Emirates

Mr. Elliott has been President and Chief Executive Officer of the Company since February 2006 and a director of the Company since April 2001 and Chairman of Loon Energy Corporation since December 2008. Prior to that, he was a director and member of the management group of Nemmoco Petroleum Corporation, a private oil and gas company based in Dubai, United Arab Emirates since January 1998. From 1988 to 1998, Mr. Elliott worked for International Petroleum Corporation, a company controlled by Adolf Lundin, in a number of capacities ultimately as director and Vice President. Mr. Elliott received his Bachelor of Arts degree from St. Francis Xavier University, Canada in 1982 and graduated with a Bachelor of Laws degree from the University of Ottawa in 1985.