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

W. Adrian Loader - Chairman

Mr. Loader has over 35 years experience in the international oil industry with the Royal Dutch Shell Group (Shell) where he held numerous senior executive positions before retiring on December 31, 2007. His most recent role with Shell was as President of Shell Canada. Prior to his posting in Calgary in 2007, Mr. Loader held various positions including: Director, Strategy & Business Development; Director Strategic Planning, Sustainable Development & External Affairs, President of Shell Europe Oil Products, Director of East Zone Oil Products (Middle East and Far East), Director of South Zone Oil Products (Africa & South America), and Division Head for the Former Soviet Union and Central and Eastern Europe. Mr. Loader also serves as a Non-Executive Director of Holcim (Schweiz) AG, one of the world's leading suppliers of cement and aggregates, and is a Member of the European Advisory Board of Air Products as well as a Member of the International Advisory Board of Garda World.

Michael I.T. Wood - President, CEO & Director

Mr. Wood is an experienced energy professional with a track record covering over 20 years in the UK and international oil and gas industries. His particular expertise of senior executive and financial/commercial management has been gained with both large multi-national and small independent companies. Mr. Wood worked with Conoco Inc. ("Conoco") for ten years in Europe and North Africa and was part of its successful senior UK management team that achieved the fast track development of a significant number of major exploration and production capital projects and the development and implementation of Conoco's integrated gas strategy. Mr. Wood has also worked in senior positions as a director, chief executive officer and a president of several independent, publicly quoted exploration and production companies. He was also President and Chief Executive of Heritage Oil Corporation ("Heritage"), a TSX-listed company, from 1999 to 2003, a period during which the underlying value of Heritage grew significantly.

John A. Clarke - Executive Vice President - Corporate & Director

Mr. Clarke has over 30 years international experience in the energy sector, including 18 years of exploration and production experience within the Texaco group of companies and as a member of Texaco Inc.'s global exploration planning group. Mr. Clarke has a broad capital markets background, including over eight years as a Vice President and Senior Oil & Gas analyst with Deutsche Bank and Octagon Capital Corporation. He has established relationships across the Canadian and International oil and gas industry, as well as with the "institutional buy side". Mr. Clarke built and managed the Canadian oil and gas research group for Deutsche Bank Securities (Canada), and was ranked top North American Oil & Gas analyst in 2003 and 2004 by Forbes/Starmine.

John R. Cullen - Founder & Director

Mr. Cullen has over 24 years experience in public company financing, corporate/capital structuring and management. Following 15 years of Canadian investment brokerage experience, Mr. Cullen founded a number of public international resource companies, including CGX Energy Inc., and Candax Energy Inc. He is also a founder/board member of a number of private oil/gas and mining enterprises.

Adrian C. Jackson - Director

Mr. Jackson has over 22 years experience in corporate finance, investment banking and petroleum engineering. He has held senior finance positions in the UK petroleum industry, including Royal Dutch Shell. Mr. Jackson holds a Masters in Physics from Oxford University, an M.B.A from Henley Management College, Oxfordshire, England, and was short-listed for the UK space program. Mr. Jackson is currently an energy sector equity analyst with Investec Asset Management based in London, UK, and is a director of CGX. Mr. Jackson was Chief Financial Officer of Atlantic Energy Services Ltd. from 2001 to 2004 and was a Vice President, Corporate Finance with JP Morgan Chase from 1995 to 2001.

Meb Somani - Director

Mr. Somani has a 25 year career in the oil and gas industry and is currently Head of Oil & Gas at Actis LLP, a significant shareholder of Candax. Prior to joining Actis in 2006, Mr. Somani was Managing Director at Harrison Lovegrove & Co, an oil and gas corporate finance advisory firm (now part of Standard Chartered Bank), where he advised clients including major international and national oil companies on acquisitions and divestments valued at several billion dollars in Africa, Asia and Latin America. Prior to that, he spent 20 years with Shell and Texaco, starting as a well site petroleum engineer in the North Sea before moving to senior upstream and midstream operations management and commercial roles in Asia, Europe and the Middle East. Mr. Somani has a first class honours degree in Petroleum Engineering from Imperial College London and an MBA from Henley Management College.

John B. Zaozirny - Director

Mr. Zaozirny has been Counsel to the law firm of McCarthy Tétrault LLP since 1987 and Vice Chairman of Canaccord Capital Corporation since 1996. He is a Director and strategic advisor to a number of public and private corporations, and a Governor of the Business Council of British Columbia. He served as Alberta's Minister of Energy and Natural Resources from 1982 to 1986, having first been elected as a Member of the Alberta Legislature in 1979. He also served as Chairman of the Cabinet Committee on Economic Development and Chairman of the Private Bills Committee. Mr. Zaozirny is perhaps best known for his role as Alberta's Energy Minister in negotiating the end of the National Energy Program.