Mr. Moncrief Willingham

The organization of Moncrief Willingham brings together a unique combination of investment banking and institutional money management skills, which has been focused on the energy industry for decades.The principals of the Moncrief Willingham team have over 60 years of combined energy investment banking and money management experience and an understanding of the people and the operational dynamics of the energy industry that is unique in the energy investment management arena today.Moncrief Willingham was formed to provide advisory services to accredited investors with vehicles to participate in the energy sector through proactively managed partnerships and portfolios.

Mr. B. J. Willingham, CFA - Chief Investment Officer, has 34 years of investment experience.From a senior position in the trust institutional group of Wachovia Bank, he moved to Houston in the mid-1970s.As a key portfolio manager, and later chairman of the Investment Strategy Group of the investment team, he helped build Criterion Investment Management Company from a $400 million boutique to an over $11 billion independent investment counselor.Subsequent to Criterion's sale to Transamerica Corp. in 1989, he was the Chief Investment Officer of the Transamerica mutual fund family and portfolio manager of the Transamerica Natural Resources Fund.In late 1981, while at Criterion, he correctly identified the end of the last incoming energy Tide and made an investment call to eliminate the sector (liquidated a $2 billion energy portfolio), based on his macroeconomic views.His current view is that we are seeing an economic mirror image to 1981 and are in the early stages of a new incoming energy Tide.With his reputation, knowledge and daily participation in energy equity analysis and trading, he maintains communicative relationships with CEOs, COOs, and CFOs of many public energy companies.Mr. Willingham holds a B.A. in Economics from Yale University and an M.B.A. from the Wharton School of Finance.Mr. Willingham has been a Chartered Financial Analyst since 1976 and a CTA since 1998.He is a member of the Houston Society of Financial Analysts, the Association of Investment Management and Research, and the Independent Petroleum Association of America ("IPAA").Mr. Willingham served as a member of the Board of Trustees of Asheville School for twelve years, last serving as its Chairman.He also served as a member of the Board of Trustees of Episcopal High School (Houston).