Board of Directors

DAVID HOBBS Chairman

David A. Hobbs currently serves as Chairman. Mr. Hobbs is an expert in energy industry structure and strategies with nearly 40 years of experience, currently as Executive Chairman of Pantheon Resources Plc and, before that, as Head of Research at The King Abdullah Petroleum Studies and Research Center (KAPSARC) where he helped establish a world leading think tank in Saudi Arabia. Mr. Hobbs has also served as Chief Energy Strategist at IHS (now S&P Global) and as Co-Chair of CERAWEEK, providing insight to governments and major energy companies around the world. Prior to CERA, Mr. Hobbs was Head of Business Development with Monument Oil & Gas and managed the North American and Asian businesses of Hardy Oil & Gas.

STEVEN LOOPER Director

Mr. Looper has been an independent oil and gas producer since 1982, with experience drilling and operating wells in Colorado, Kentucky, Louisiana, New Mexico, Oklahoma, Texas and Wyoming. In addition, he maintains project management experience in Botswana, Canada, South Africa and Zimbabwe. Since 1993, Mr. Looper has been focused on the development of large resource plays in West Texas at Riata Energy, Inc. and most recently in the Barnett Shale trend, where his capital providers achieved >100% rates of return.

TERRENCE MARTELL Independent Director

Mr. Martell is a Saxe Distinguished Professor of Finance at Baruch College/CUNY, bringing a significant base of finance and corporate governance expertise to the Board. Concurrently, he serves as Chairman of Intercontinental Exchange (“ICE”) Clear US – the US clearing house for ICE’s futures and options trading – as well as a Director of ICE Clear Credit and Vice Chair of ICE Futures U.S. Mr. Martell serves on the Boards of Toronto-listed exploration and production company VVC as well as at Gresham Investment Management LLC and the Tara Emerging Asia Liquid Fund. In addition, he chairs the Audit Committee as a trustee of the PSC/CUNY Welfare Fund, which manages drug and dental benefits for the employees of the City University of New York. Previously, he served as a Trustee of the City University of New York as well as on the Board of Intercontinental Exchange. A resident of Pelham, New York, he served as President of the Pelham School Board and the United Way of Pelham. Mr. Martell received his BA in Economics from Iona University and his Ph.D. in Finance from the Pennsylvania State University.

FRED SCHOENHUT Independent Director

Mr. Schoenhut has over 40 years of leadership and governance roles experience in the global commodities markets. Mr. Schoenhut currently manages private investment activities and serves as President of the Schoenhut Family Foundation, a charitable organization supporting philanthropic, service, and educational initiatives. Mr. Schoenhut served as the Principal of Royal Coffee New York, Inc. from 1995 to 2020 and as the Principal of HonorVerus Research, LLC from 2008 to 2013. Prior to this, from 1980 to 2008, Mr. Schoenhut founded and served as President of Copia Trading Co., Ltd., a coffee futures execution firm on the Coffee, Sugar & Cocoa Exchange trading floor at the World Trade Center in New York City, New York. From 2002 to 2010, Mr. Schoenhut served as Chairman of the Board of the New York Board of Trade (“NYBOT”), now ICE Futures U.S., where he chaired its Executive Committee and helped lead the successful merger and integration of NYBOT with Intercontinental Exchange (“ICE”). He served as a member of the Board of Directors of ICE from 2007 to 2010. Mr. Schoenhut received his B.S. in Electrical Engineering from Clarkson University.