The following are the other members of the Group’s senior management:

T. Amarzul, Executive Director of Capcorp Mongolia LLC and Petro Matad LLC

Ms. Amarzul is a Mongolian citizen, educated in Singapore and has a BA degree in Foreign Relations. She has worked in the Mongolian Government’s Foreign Investment and Foreign Trade Agency (FIFTA). Ms. Amarzul joined the resources sector in Mongolia in 2003, holding senior management positions in private sector resource companies.

B. Dendevchuluun, General Manager of Petro Matad LLC

Mr. Dendevchuluun has 38 years’ experience as a geophysicist, engineer and executive in various state agencies and private companies. He started work with the Geophysic-topomapping Authority and went on to be appointed as the Chairman of the State Industrial Authority of Mongolia. In his latter role, he was one of the initiators and developers of the 1991 Petroleum Law of Mongolia. Mr. Dendevchuluun has a BSc degree in geophysical engineering from the Polytechnic of Irkutsk, Russia.

Rodney W Graham, Head of Operations of Petro Matad LLC

Mr. Graham is an American geologist with over 29 years of experience in the exploration and mining industry. He received a Master of Science degree from the Colorado School of Mines in 1987, and since that time has worked as an international exploration geologist in numerous locations spanning the globe.

Mr Graham has spent the last nine years working in the mineral sector in Mongolia as a practical geologist and as a manager. During his time in Mongolia he has successfully formed valuable relationships, created and run many complex field programmes, gained an in-depth knowledge of the country, and earned the respect of Mongolian professionals.

Mr. Graham will be in charge of all operational matters for Petro Matad, including responsibility for the Technical team.