The directors our Board has determined to be independent are Stephen D. Chesebro', John U. Clarke, Byron A. Dunn
, H. H. Hardee and Patrick M. Murray.
...Byron A. Dunn
The Board has further determined that each member of the Audit Committee is financially literate and that Mr. Murray, Mr. Clarke and Mr. Dunn
qualify as audit committee financial experts as defined in Item 401(h) of Regulation S-K.
Information on the relevant experience of Mr. Murray, Mr. Clarke and Mr. Dunn
is set forth in the discussion below under Proposal No. 1.
...Byron A. DunnAppointed Director in December 2003
Age 48 Mr. Dunn was originally a member of the Board from October 2000 until
March 2002.Mr. Dunn has been Vice President, Business Development of National Oilwell Varco, an oilfield products and services company, since August 2003.Prior to joining National Oilwell Varco, Mr. Dunn was an Executive Director in the energy investment banking group of UBS Warburg LLC for seven years.Mr. Dunn spent two years as a Senior Vice President specializing in energy and oilfield services with Jeffries & Company, Inc.Mr. Dunn
also has over five years of operational experience in the oil and gas industry, serving from 1979 through 1984 in drilling, production and reservoir assignments for Chevron USA in Texas, Louisiana and the Gulf of Mexico.In addition, during 1991 and 1992, Mr. Dunn spent considerable time in West Siberia, Europe and South America as manager of upstream business development and acquisitions for Phibro Energy.Mr. Dunn is an advisory director to Preng & Associates, an executive search consulting firm and until April 2004 was Chairman of the Board of TTS Marine ASA, a ships equipment manufacturer.Mr. Dunn earned a Bachelor of Science degree in Chemical Engineering from the Illinois Institute of Technology in 1979 and a Master of Business Administration degree, with a specialization in finance, from the University of Chicago in 1986.