| Investment Committee |
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| Mr. Rodney B. Mitchell: President and Chief Investment Officer |
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| He has over 30 years of investment management experience. From 1970 to 1989, Mr. Mitchell served
as President and Chief Investment Officer of Tallasi Management Company-a registered investment advisory firm
managing approximately $500 million. Prior experience includes responsibilities at J.P. Morgan and Kidder Peabody
& Co. He was formerly advisor to the American Foreign Policy Council on energy matters and a trustee of the
Hampden-Sydney College. Currently a member of the Board of Directors of Willbros Group, Inc. and a trustee of
the Sena Foundation, Mr. Mitchell attended Harvard College. |
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| Mr. C. W. (Wayne) Nance: Senior Vice President, Investments |
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| He retired in 1989 as President of Tenneco Oil Company, the 13th largest oil & gas company in the
United States. While at Tenneco, Mr. Nance accumulated 39 years of technical, economic, and management
experience. He managed operations across the United States and in 10 foreign countries, including three subsidiary
service companies. Mr. Nance serves as a director of various corporations and is a former member of the executive
committee of the Natural Gas Supply Association. He is a Distinguished Graduate of the University of Texas
College of Engineering and is a Senior member of the University of Texas Engineering Foundation Advisory Council. |
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| Mr. Douglas M. Hohertz: Senior Vice President, Investments |
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| He spent his entire professional career, before joining The Mitchell Group, with Western Atlas International.
Mr. Hohertz was Western Hemisphere and Far East manager of accounting and finance for the company’s Western
Geophysical division. Among his earlier responsibilities, he established the Moscow office for Western Atlas International,
Russian/C.I.S. operations, plus he served as resident country Financial Manager in Nigeria and Colombia for
Western Geophysical. Mr. Hohertz received his undergraduate degree and his MSBA from Texas Tech University. |
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| Other Members of the Firm |
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| Mr. Henry Groppe: Senior Strategy Committee member and principal of the firm |
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| He is a partner with Groppe, Long & Littell, a Houston based consulting firm engaged in long-term planning and
development for corporate clients in the petroleum and chemical fields. Mr. Groppe has over 43 years of technical,
economic and management experience in the hydrocarbon and petrochemical industries. Before establishing his
consulting firm in 1955, he was with Dow Chemical, Monsanto, Texaco, and Arabian American Oil Company
(in Saudi Arabia). Mr. Groppe serves as a director of various corporations and was a founder of Southwest Chemical
Services, Inc. He is a Distinguished Graduate of the University of Texas College of Engineering (Chemical
Engineering) and is a member of the University of Texas Engineering Foundation Advisory Council. |
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| Mr. Terry W. Jolly: Vice President, Trading and Operations |
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| He built his experience in investment firm operations while Assistant Vice-President for Private Account
Administration at Criterion Investment Management Company from 1981 to 1989. Among his contributions as a central
figure on Criterion's operations management team, Mr. Jolly authored the design of both a state of the art equity and
fixed income trading system. He received his Bachelor of Business Administration from the University of Houston. |
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| Ms. Deborah A. Stephens: Vice President, Office Management |
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| She has 29 years of office management experience working with various companies in Houston. Ten of
those years were spent with the San Jacinto Savings & Loan as the Office Administration Supervisor, Security Officer’s
Assistant and Purchasing Agent. |
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| Mr. William C. Nixon: Director of Marketing and Client Services |
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| He is a former Senior Adviser to the United States Ambassador to Switzerland and Liechtenstein. Mr. Nixon served
in the Bush Administration building key relationships in the Swiss Banking, Insurance, Pharmaceutical and Food Products
industries for the United States Government. Prior to his government service, he was active in the domestic and international
oil and gas business. Mr. Nixon was the founder and president of Manas Refining Partners, a refinery joint venture in the
Central Asian Republic of Kyrgyzstan. He was a partner and director of investor relations for French Production Company of
Houston, Texas and director of investor relations for Kerrco, Inc. Will Nixon began his career in Washington as a fund
raiser for the Republican National Committee. During the 1992 presidential campaign, he served as Director of the
Republican Team 100. Mr. Nixon serves as a director of the Sunshine Cottage School for Deaf Children in San Antonio.
He attended the University of Texas in Austin and received his Masters of Business Administration from IMD,
The International Institute of Management and Development in Lausanne, Switzerland. |
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| Mr. Matthew T. Pham: Vice President, Securities Analyst |
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| Before joining the Mitchell Group in November 2006, Mr. Pham was a senior equity trader at Pickering Energy Partners in
Houston. In 2000, he started his private sector career as an equity block trader for Dresdner Kleinwort on Wall Street in New York,
where he acted as an agency and proprietary trader in energy related securities. Matthew graduated from the United States Naval
Academy in 1992 with a B.S. degree in Mechanical Engineering. During his 8 years of service in the U.S. Navy Submarine Force,
he qualified as Engineering Officer by the Navy nuclear regulatory board, Naval Reactors, which is regarded as the equivalent
to a civilian Master of Science degree in Nuclear Engineering. Matthew received his MBA from the Tepper School of Business
at Carnegie Mellon University. |
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| Senior Strategy Committee |
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| The Mitchell Group utilizes its Senior Strategy Committee as a politically sensitive screen through which investment
ideas are filtered. Mr. Rodney B. Mitchell and Mr. Henry Groppe are members of the Senior Strategy Committee. The other
members of this committee are as follows: |
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| Mr. Rodney B. Mitchell |
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| He has over 30 years of investment management experience. From 1970 to 1989, Mr. Mitchell served as President
and Chief Investment Officer of Tallasi Management Company?a registered investment advisory firm managing approximately
$500 million. Prior experience includes responsibilities at J.P. Morgan and Kidder Peabody & Co. He was formerly
advisor to the American Foreign Policy Council on energy matters and a trustee of the Hampden-Sydney College. A
recently retired member of the Board of Directors of Willbros Group, Inc. and a trustee of the Sena Foundation, Mr.
Mitchell attended Harvard College. |
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| Mr. Henry Groppe |
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| He is a partner with Groppe, Long & Littell, a Houston based consulting firm engaged in long-term planning
and development for corporate clients in the petroleum and chemical fields. Mr. Groppe has over 40 years of
technical, economic and management experience in the hydrocarbon and petrochemical industries. Before establishing
his consulting firm, he was with Dow Chemical, Monsanto, Texaco, and Arabian American Oil Company (in Saudi Arabia).
Mr. Groppe serves as a director of various corporations and was a founder of Southwest Chemical Services, Inc. He
is a Distinguished Graduate of the University of Texas College of Engineering (Chemical Engineering) and is a
member of the University of Texas Engineering Foundation Advisory Council. |
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| Mr. John H. Williams |
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| He is former Chairman and CEO of The Williams Companies, Inc., a leader in pipeline transmission of natural
gas and petroleum products. He currently serves as a director of The Williams Companies and various other energy
related corporations. Mr. Williams graduated from Yale with a degree in Civil Engineering. Among honors he has
received, Mr. Williams was awarded the National Petroleum Hall of Fame Distinguished Service Award, and has been
inducted into the Oklahoma Hall of Fame. |
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| Mr. James A. Placke |
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| As a US Foreign Service Officer for nearly three decades, he was previously Deputy Assistant Secretary of State
for Near Eastern Affairs, with broad responsibility for US relations with states of the Persian Gulf region and
for US-Middle East economic relations in general. As an Arabic speaker and specialist on the Middle East and
Persian Gulf, Mr. Placke had a series of assignments in the Arab oil producing countries of Kuwait, Libya, and
Iraq and as Deputy Ambassador to Saudi Arabia. Jim Placke was recognized for his significant achievements in
the Middle East in 1985 when he received the Presidential Meritorious Service Award. Mr. Placke currently
serves as a Senior Associate of Cambridge Energy Research Associates and is also a non-resident Senior Fellow
of The Brookings Institution in Washington, D.C. He has MA and BSc degrees from the University of Nebraska. |
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