Timothy Mulroney Elliott

Dubai, United Arab Emirates

Mr. Elliott has been the Executive Chairman of the Company since December 2008 and the President, Chief Executive Officer and director of Loon Energy Inc. (now Kulczyk Oil Ventures Inc.) since February, 2006. He is also a director of Jura Energy Corporation. Prior to that, he was a director and member of the management group of Nemmoco Petroleum Corporation, a private oil and gas company based in Dubai, United Arab Emirates since January 1998. From 1988 to 1998 Mr. Elliott worked for an International Petroleum Corporation, a company controlled by Adolf Lundin, in a number of capacities ultimately as director and Vice President. Mr. Elliott received his Bachelor of Arts degree from St. Francis Xavier University in 1982 and graduated with a Bachelor of Laws degree from the University of Ottawa in 1985.