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Jul 30 2010 03:41 PM  Pricing delayed 20 minutes

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Board of Directors

Candax's board of directors bring a wealth of experience to the Company for corporate governance and responsibility. The board of directors, of which five of its members are independant, sees its principal role as stewardship of the Company and its progress towards creating shareholder value.

Benoit Debray, Chairman

Mr. Debray has 27 years of experience in the international E&P and oilfield service industries. He has been Chief Operating Officer and board member of Geoservices from 1999 to 2007. Prior to this position, he was drilling and production deputy director for the French Institute of Petroleum. His initial position in the E&P industry was with Elf Aquitaine as a reservoir engineer and he has extensive service industry and operations experience in well testing and production logging, R&D, marketing and key account management. Benoit Debray graduated with a degree in petroleum engineering and mechanical engineering (Ecole Centrale de Nantes). He also holds an Executive MBA from HEC Paris.

Stephen Drinkwater

Mr. Drinkwater has in excess of 30 years experience in the E&P and oil service industries gained in Africa, Europe, the Middle East, and both North and South America. Prior positions include Base Managerwith Flopetrol-Schlumbeger, Global Service Line Manager and Business Development Manager for Well Intervention services with Geoservices, a subsidiary of Geofinance N.V., the Corporation’s major shareholder. Past technical positions have included Well Service Supervisor with BP Exploration Colombia in Colombia and Well Service Superintendent with Total Austral in Argentina. Mr. Drinkwater is a member of the Society of Petroleum Engineers and the Canadian Society of Safety Engineering, and currently operates a cost reduction consultancy for ERA Canada in Vancouver, Canada.

Murray Grant

Murray Grant is a Partner of Actis LLP, a significant shareholder of Candax. Murray is responsible for managing various Actis investments in emerging markets and has been part of the Africa team since he joined Actis in 2001. He chairs the African screening committee and continues to be involved across Africa through a range of investments and associations, covering telecoms, financial services, mining and oil and gas. Murray joined Actis after a 13-year investment career with 3i Group plc where he worked on a diverse range of investments in over 300 businesses across a range of industry sectors. Prior to working at 3i, Murray spent four years in the construction industry working on large infrastructure projects in the mining and power sectors in Africa, Australia and Papua New Guinea.

Chris Irwin

Mr. Irwin practices securities and corporate/commercial law and has been the President of Irwin Professional Corporation since August 2006. Prior to forming Irwin Professional Corporation, Mr. Irwin was an associate of Wildeboer Dellelce LLP (January 2004 to August 2006), Power Budd LLP, Barristers and Solicitors (January 2001 to December 2004) and Boyle & Company, Barristers and Solicitors (December 1998 to December 2000). He received his Bachelor of Arts from Bishop’s University in Lennoxville, Quebec in 1990 and his Bachelor of Laws from the University of New Brunswick in Fredericton, New Brunswick in 1994. Chris has been a member of the Law Society of Upper Canada since 1996. Mr. Irwin is a director and/or officer of several public mining companies. His experience in corporate governance will be a great asset to Candax.

Dr. Richard Norris

Dr. Norris, former General Operations Manager for Geopetrol, a subsidiary of Geofinance N.V. the Corporation’s major shareholder, was responsible for overseeing Geopetrol’s assets in India, Vietnam and Yemen. Prior to joining Geopetrol, Dr. Norris worked for seven years at BNP Paribas in its Oil and Gas Project Finance (Reserves Based Lending) group. His initial position in the energy industry was with Elf Aquitaine (subsequently Total) covering upstream operations, reserves, new ventures and economic strategy over a ten year period in France and Angola with the four years in Angola focused on deep-water exploration, appraisal and development. Dr. Richard Norris holds a BSc in Geology as well as an MSc in Petroleum Geology and a PhD in Petroleum Engineering from Imperial College, London, UK. He is an active member of the Society of Petroleum Engineers and has co-authored several papers on Reservoir Characterization, Geostatistics as well as Multi-phase Flow-Metering.

Thomas Rebilly

Mr. Rebilly has 11 years industry experience gained in both the E&P and oil services industries. In 1997, he joined Geoservices, an oilfield service company that is a subsidiary of Geofinance N.V., the Corporation’s major shareholder. In 2006, Mr. Rebilly joined Geopetrol, also a subsidiary of Geofinance N.V., as Chairman. Mr. Rebilly is a professional Geologist and holds an engineering degree from Ecole Nationale Supérieure du Pétrole – Institut Francais du Pétrole and he also completed a business school program at La Sorbonne.
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