Board of Directors:

E. Carey Joullian IV – Director, Chairman

Richard L. Sias – Director

Marion J. Story – Director

Management:

E. Carey Joullian IV is Chairman of the Board, President and Chief Executive Officer of Mustang Fuel Corporation and its subsidiaries. He is also a member of the Board of Directors. Mr. Joullian received a Bachelor of Arts degree in Business and History from Trinity University. He joined Mustang Fuel Corporation in 1985, having previously worked at The First National Bank, Oklahoma City, Oklahoma, as a lending associate for 3 years. Mr. Joullian serves as Chairman of Mustang Ventures Company, parent of Mustang Gas Products, LLC.

Rand Phipps is Senior Vice President, Secretary, General Counsel and Chief Operating Officer for Mustang Fuel Corporation. Mr. Phipps serves as a Director and Secretary of Mustang Ventures Company. He received a Bachelor of Science degree in Business Administration with Distinction, from the University of Nebraska. He also received a Juris Doctor from the University of Nebraska. Mr. Phipps spent two years at Atlantic Richfield; 5 years at CNG Producing Company; and 8 years at the Samson Companies before coming to Mustang. He joined Mustang in 1996 and is responsible for all land and legal functions, exploration and production, corporate governance and risk management. Mr. Phipps’ professional memberships include Chairman of the Mineral Law Section of the Oklahoma Bar Association, Board member of U.S. Oil and Gas Association, Chairman of the Mid-Continent Oil and Gas Association and member of the Executive Committee.

M. Scott Chapline is Senior Vice President, Chief Financial Officer and Treasurer of Mustang Fuel Corporation and its subsidiaries. Mr. Chapline serves as a Director and Treasurer of Mustang Ventures Company. He received a Bachelor of Business Administration degree from the University of Oklahoma. He began his career in the U.S. Army. After discharge from the Army, Mr. Chapline joined Arthur Anderson and Co. where he was appointed audit manager in 1970. In 1976 he joined Kerr-McGee as assistant corporate controller. In 1984, he started work at Mustang Fuel Corporation as Vice President and Controller. Mr. Chapline’s responsibilities include directing all accounting functions, including gas accounting, purchasing operations, aviation operations and financial accounting operations. His professional memberships include the American Institute of Certified Accountants, the Oklahoma Society of Certified Public Accountants and the Oklahoma City Chapter of the Financial Executives Institute.

J. Paul Belflower is Vice President, Gas Marketing and Supply for Mustang Fuel Corporation and its subsidiary, Mustang Fuel Marketing Company. Mr. Belflower received a Bachelor of Science degree in Journalism from Oklahoma State University. Before joining Mustang, Mr. Belflower was a Sr. Gas Marketing Representative for Grace Petroleum Corporation. At Mustang Fuel Corporation, Mr. Belflower is responsible for marketing the natural gas supply portfolio. He also handles all natural gas and crude oil hedge transactions. Mr. Belflower is a member of the Natural Gas Associations of Oklahoma and Texas, and a member of the Natural Gas Transportation Association.

Carrie Buchanan is Vice President and Controller of Mustang Fuel Corporation and its subsidiary Mustang Ventures Company. Ms. Buchanan received a Bachelor of Science degree in Business Administration from Oklahoma State University. She joined Mustang Fuel Corporation in 1981 and is responsible for directing accounting functions, and establishing and maintaining accounting principles, practices and procedures for Mustang Fuel Corporation and Mustang Gas Products, LLC.

Bradley R. Jordan is Vice President and Chief Information Officer of Mustang Fuel Corporation and its subsidiaries. Mr. Jordan received a Bachelor of Science degree in Accounting and Computer Information Systems from Colorado State University, and a Master of Science degree in Information Systems from the University of Colorado in Denver. Mr. Jordan is responsible for directing all Information Technology functions for Mustang Fuel Corporation and its subsidiaries. Prior to joining Mustang, Mr. Jordan spent 19 years in the Oil & Gas industry holding various management and technical positions with Kerr-McGee Corporation, Westport Resources Inc., KN Energy, Inc., and The Coastal Corporation, as well as consulting with Deloitte & Touche.

Gary Sump is Vice President of Gas Operations for Mustang Ventures Company and its subsidiary Mustang Gas Products, LLC. Mr. Sump received a Bachelor of Science degree in Chemical Engineering from Oregon State University. He received a Master’s Degree and Ph.D. from the University of Illinois in Urbana. Mr. Sump worked at Exxon for 11 years; ANR Production Company for 4 years; and Coastal for 8 years before coming to Mustang Fuel Corporation as Engineering Manager in 1993. Mr. Sump was appointed Vice President of Gas Operations for Mustang Gas Products, LLC which was formed in 2002 where he is responsible for gas operations and processing plants. He is a registered professional engineer in Texas and Louisiana and is on the Board of Directors of the National Gas Processors Association and a member of the Legislative and Regulatory Affairs and Safety Committees.

Brian Tibbs is Vice President of Gas Supply for Mustang Ventures and its subsidiary Mustang Gas Products, LLC. Mr. Tibbs received a Bachelor of Business Administration Degree from the University of Texas at Austin. Before joining Mustang, he was Manager of Gas Supply for Magic Circle Energy Corporation and Senior Gas Controller at Delhi Gas Pipeline Corporation. Mr. Tibbs is responsible for the connection of new and existing gas supply to Mustang’s processing plants and contract administration. Other responsibilities include marketing all natural gas liquid production from gas plants and all condensate produced for Mustang’s equity wellhead production and gas plants.