Nigeria Structure

Stephen Shefsky Chairman

Mr. Shefsky is the Chief Executive Officer, President and a director of the Corporation since incorporation and devotes substantially all his working time to the Corporation. Mr. Shefsky is the co-founder of Brasoil do Brasil Exploracao Petrolifera S.A., a private oil and gas producing and exploration company operating in Brazil since 2006. Mr. Shefsky has also been the President and Chief Executive Officer of Cancap Investments Limited, a private merchant bank providing venture capital and project financing for private and public companies, since 1985. From 1996 to August 2007, Mr. Shefsky held the positions of President and Chief Executive Officer of Verena Minerals Corporation, now Belo Sun Mining Corp. (TSXV:BSX), a mineral exploration company with a focus on precious metals properties in Brazil. Mr. Shefsky is a director of Morumbi Resources Inc. (TSXV: MOC). Mr. Shefsky was the founder of Silver Bear Resources (TSX:SBR).

Mark Brennan Founder, Director

Founding Partner and President of Linear Capital Corp., President & CEO of Sierra Metals, Past President & CEO of Largo Resources, Co-founder of Brasoil do Brasil Exploracao Petrolifera S.A., and Castle Resources Inc.

Adeniyi Olaniyan, President and CEO of James Bay Energy Nigeria and Director of Canadian entity

Mr. Olaniyan was appointed as Chief Operating Officer and Country Manager of James Bay Energy Nigeria Limited (JBENL) and the other Nigerian Subsidiaries, on June 1, 2012, and was appointed as president and CEO of each of the Corporation’s Nigerian Subsidiaries on December 4, 2014. Mr. Olaniyan has over 20 years of international experience (Africa, Asia, Europe) in subsurface Oil and Gas E&P, Project Management, New Ventures, Asset Development and Business Planning within the Shell Group. His last position with Shell was as Hydrocarbon Maturation Manager for near infrastructure exploration activities to deliver short-term oil along the Niger Delta Nembe Creek Trunk Line. Prior to that Mr. Olaniyan acted as Subsurface Geoscience Manager for Brunei Shell Petroleum from August 2005 to July 2009. Mr. Olaniyan has had considerable geoscience and project management experience in several geological basins.

Kayode Ayeni

Kayode Ayeni is CEO of Afridev Capital Partners, a bespoke investment and advisory firm specializing in finding opportunities in the oil, gas, power and infrastructure sectors. He is also Co-Managing Partner of a US$250 Million Equity Fund focused on providing growth capital to companies in Nigeria and other Gulf of Guinea countries involved in the energy and infrastructure sectors. From 2002 through 2008, Kayode was MD and CEO of First Funds Limited (FFL), the private equity / venture capital arm of First Bank Plc (FBN), the biggest financial services group in Nigeria. Kayode was in the Top-10 executive cadre of the FBN group and a member of First Bank’s Group Management Steering Committee