The Company has a proven management team with collective expertise in both acquiring licences, developing oil and gas projects and operating in the countries of Former Soviet Union, Russia in particular. The Board has experience in independent exploration and production companies and oil majors combined with experience of incorporating Western practices into field development and exploitation as well as Western corporate governance, reporting standards and financial best practice.

The Board is supported by a professional management team.

Efficient Organisational Structure

Zhakyp Marabayev, Non-executive Chairman

Alexander Kapalin, Chief Executive Officer

Alexander has had over 13 years management experience in the Russian independent oil and gas sector. He was co-founder of JSC "Vneshtechnika", an oil and gas trading company. JSC "Vneshtechnika" held an interest in JSC "Konvencia", project developer of the Yuzhno-Myldzhinskoe oilfield (Tomsk Region). At  present, he is a major shareholder of the Company and is its Chief Executive Officer. As Chief Executive Officer he has been actively involved in the acquisition and development of the Group's assets and is responsible for the day-to-day management of the Company.

Dmitry Chalov, Chief Financial Officer

Dmitry has worked in a range of finance and strategy functions in the oil and gas industry since 1998 including positions with ABN AMRO and AT Kearney focusing on the Russian oil and gas sector. Dmitry worked for Lukoil between 2001 and 2005, rising to Director, Corporate Finance. He worked on a number of M&A and restructuring transactions, with a focus on international markets, including company acquisitions and post-acquisition asset restructuring in Western and Eastern Europe, Asia and Russia, including the London listing of Lukoil, the strategic investment in Lukoil by ConocoPhillips and a wider range of financing deals both in the upstream and downstream areas. Dmitry brings his experience of oil and gas financing both from the Russian and international perspective as well as executive skills in managing the controls of a growing business with primarily Russian assets and an international shareholder base.

Dmitry Chalov's day to day responsibilities include providing internal and external financial and management reporting, developing the annual budget, projections and forecasts, strategic analysis, equity and debt financing, business valuations and audit and internal control oversight.

Frederick Hodder, Non - Exec Director

Fred is a graduate of Stanford University in Metallurgical Engineering and has a Masters of Business Administration from Harvard University. Fred started his professional career in the 1970s serving in executive positions for several technology companies including Corporate Treasurer at NYSE-listed Four-Phase Systems Inc.and Chief Financial Officer of Aspect Telecommunications. In the 1990s he began working in the Former Soviet Union and held positions as Senior Vice President of the Central Asian-American Enterprise Fund. In 2002, he joined Nelson Resources Limited as CFO. At the time of its acquisition by Lukoil in December 2005, Nelson Resources had grown to be one of the largest companies traded on AIM with a market capitalisation in excess of US$2 billion. In 2004, he was appointed Chairman of Chaparral Resources Inc., a SEC registered E&AmpP company with oil and gas production and exploration interests in Kazakhstan, which was capitalised at approximately US$200 million. Fred currently serves as a non-executive director for Manor Global Inc., a Canadian Capital Pool Corporation, and as non-executive director for Baltic Oil Terminals PLC, a company with infrastructure and exploration interests in Russia.

Peter Anclam, Non-Exec Director

A trained geologist, Peter graduated in 1968 from the University of Mineral Oil and Petrochemistry Baku, Azerbaijan, with a MA in Geology. In 1968 Peter joined Erdgas Erdöl GmbH (EEG), which since 1994 has been a 100 per cent. subsidiary of Gaz de France (GDF). He stayed with the company until 1999 working in a number of senior positions within the upstream business latterly as Director of Strategic Evaluation. From 1999 to 2005, Peter worked on various projects in Russia, Kazakhstan and Libya as Senior Expert Exploration & Production for Daimler Chrysler Services Structured Finance in Berlin. He has also managed and represented the interests of Geoconsult Magdeburg GmbH, Magdeburg, in various projects and evaluation tasks, mainly in CIS-countries. In 2002, he joined Select Energy GmbH in Hamburg as Director of Geology and Upstream Projects, responsible for the evaluation and development of new projects in CIS-countries. He has sat on the International Gas Union Committee. As a senior manager, with experience with oil and gas companies in challenging business environments, Peter brings his experience of working in CIS-countries and ability to provide geological, technical and economic evaluation of new projects. He is a fluent Russian speaker.

Boris Litvak, Non - Exec Director

Boris brings over 27 years of experience in the oil and gas sector in both US, Europe and Russia. Boris has been President of Nafta Industries Inc since March 2006. He started his career in 1979 joining Texaco where he worked for 22 years, initially as a reservoir, and growing to assume senior operational positions. From February 2001 to March 2006 he was a Director responsible for investment activity and capital management at TNK-BP. Boris holds a PhD and honours degree from the Moscow Oil & Gas Institute.

Konstantin Ryzhkov, Non - Exec Director

Konstantin has extensive experience in investment banking in US, UK and Russia. He began his career working at NationsBanc Securities which after the merger became Bank of America Securities in 1997, moving on to join Trust Investment Bank as Vice-President in Corporate Finance in 2002. From 2003 to 2008 he joined VTB Bank as group's Vice President and Managing Director, Head of Leverage and Acquisition Finance at VTB Bank Europe plc. Konstantin became Partner and Managing Director of a leading private equity firm operating in Russia and the CIS, in Autumn 2008. Konstantin graduated from Davidson College with a BA in Economics.