Contact Us: Sovereign Oil & Gas Company 3555 Timmons Lane, Suite 1500 Houston, Texas 77027 713.961.0096 phone 713.961.0185 fax information@sovereignoil.com

Joseph M. (Joe) Bruso, Jr. – Founder, Chairman and Chief Executive Officer

J. M. (Joe) Bruso, Jr. in an upstream executive with thirty years of petroleum industry experience in a career characterized initially by a focus on exploration geophysics and, for the past fifteen years, on managing international exploration and development projects in West Africa and South Asia. Aside from a brief stint with Arco Oil & Gas in 1975, and an eight year term with United Meridian Corporation (subsequently Ocean Energy) from 1990-1998 where he served as Senior Vice President – International Exploration and Development, Joe has spent his entire career as an independent explorer and upstream project developer.

On the domestic side, he played a principal part in the discovery of the Neuhoff Field in Wood County, Texas in 1978, an onshore salt dome flank field that recovered over eight million barrels of sweet Woodbine crude from nineteen wells. He also had a role in a number of oil and gas discoveries in the U.S. Gulf Coast onshore and state waters, including some of the early key wells in the Calcasieu Parish Yegua Trend in Louisiana.

During the past fifteen years, Joe has caused more than eighty wells to be drilled and over 4 billion dollars to be invested in international projects he has managed. He has operated exploration, appraisal and development projects onshore, offshore, and in deep water in Africa and Asia for partner groups including Shell, ExxonMobil, BP/Statoil, Conoco, and numerous others. Joe is recognized as the discoverer of the Lion, Panthere and Zafiro Fields in West Africa. These oil and gas fields are largely responsible for making Equatorial Guinea a significant oil-exporting nation and for making Côte d’Ivoire energy independent and a net exporter of electricity through natural-gas-fired power generation. These fields achieved aggregate peak production of 350,000 barrels of oil equivalent per day with gross recoverable reserves of more than 1.3 billion barrels of oil.

In March of 2000, Joe founded Houston-based Sovereign Oil & Gas Company. Sovereign has focused its project development activity in the Gulf of Guinea in West Africa, mainly in Equatorial Guinea and Nigeria. To date Sovereign has put together eight major upstream projects encompassing 13 drilled or committed wells and $450 million in capital investment. Sovereign is presently participating in the appraisal and development of three proven oil fields in Nigeria, and is anticipating its first commercial oil production in 2008.

Key Skills:  Joe is an expert geophysicist and oil finder, and a consummate negotiator and communicator. He takes a keen interest in people and seeks to provide motivational incentives to maximize team harmony and performance at all levels in the company. He is a graduate of the University of Houston, Texas, where he earned a BSc. In Geology and attended the graduate school of geophysics. He has been honored with the orders of Chevalier (Knight) of the Order of Mines in Côte d’Ivoire and Caballero (Knight) of the Order of Independence in Equatorial Guinea for his contributions tot heir energy sectors.

C. W. “Bill” Murray, Jr. – President

Bill is a senior upstream executive and engineer with over 30 years experience in the oil and gas industry both onshore and offshore and has accumulated 17 years of international experience in South America and Southeast Asia. He served as President/General Manager for Repsol YPF in Southeast Asia and was responsible for assets located in Malaysia and Indonesia. During the mid to late 1990’s, expansion of the portfolio was accomplished through various acquisitions of both producing and non-producing acreage. He managed this upstream E&P operation which employed over 1,100 nationals and expatriates and had offices in Jakarta and Kuala Lumpur. In the 1990’s one of the company-operated PSC’s in Indonesia, Southeast Sumatra, peaked at over 220,000 barrels of oil per day and reached the one billion barrel cumulative production milestone. In 2003, CNOOC acquired the Repsol YPF Indonesia assets. Bill served as the Executive VP/General Manager for CNOOC during the transition period and was asked to stay on for two and a half years to manage these assets on behalf of CNOOC. CNOOC invited Mr. Murray to join its head office team in Beijing where Bill would have been responsible for disposing of the U.S. assets of Unocal had the transaction been completed.

In 2005, Bill elected to return to the U.S. to join Sovereign Oil & Gas as head of its SE Asia division to apply his expertise and knowledge of SE Asia in reviewing the potential acquisition of properties in the area that met the criteria for a Syntroleum Gas to Liquids (GTL) project. In May 2006, Bill was elected president of Sovereign Oil & Gas. In his current capacity, he manages all aspects of the company’s operations, commercial development and administrative functions. He will assess new markets and analyze business opportunities with prospective asset owners and investors.

Key Skills:  His ability and passion to work with and attract motivated people. Bill is a graduate of the U.S. Naval Academy and received a MS from the University of West Florida while attending Naval Flight School.

Dan Foley – Sr. Vice President of Commercial Development

Dan has over twenty years in the oil and gas industry with a strong technical background. He has proven the ability to set strategic direction and to grow a profitable, sustainable International E&P business. As Vice President of Burlington Resources China, Ltd. (BRCL), Dan was responsible for the growth of a substantial position for BRCL in China. As of year end 2005, the combined assets generated over 2 billion dollars in cumulative gross revenue and 125 MMBOE in proven reserves.

During his tenure at Union Texas Petroleum, he was a key member of the technical team working on the Bozhong Block in Bohai Bay, China. The work of that team lead to the discovery of the Peng Lai Oil Field with estimated gross recoverable reserves of over 800 MMBO.

Dan began his career in International E&P with the Texaco International Exploration Division in the 1990’s. This included Exploration and New Venture activities in Thailand, Malaysia, China, Myanmar, Indonesia, Vietnam, and the South Caspian Region. As part of this effort, he led the team responsible for the winning bid for Block 9-2 in the Cuu Long Basin, offshore Vietnam. Subsequent drilling on the block yielded a discovery with estimated gross reserve potential of over 200 MMBO.

In his current role at Sovereign, Dan plans and directs all aspects of the organization’s commercial development. He is responsible for negotiation strategy and manages technical/commercial liaison with the asset owners and potential investors. Dan is also responsible for developing new market initiatives and business opportunities.

Key Skills:  He has proven leadership for multi-discipline teams both locally and abroad. Dan has an extensive technical background with 15 years experience as a geophysicist. Dan is a graduate of the University of Georgia where he earned a MS in Geology. He is a member of the American Association of Petroleum Geologists and the Houston Geological Society.

Thad Grundy, Jr. – Senior Vice President and General Counsel*

Thad has twenty-six years experience in a variety of domestic and international oil and gas matters, including seventeen years experience in the international oil and gas field as legal advisor to the U.S. Government, several foreign governments including the Governments of Ukraine, Kazakhstan, Uzbekistan, Turkmenistan, Georgia, and Bulgaria, and major and independent oil and gas service and supply companies, both domestic and foreign, involved in oil and gas and general business transactions in the U.S., Mexico, Latin America, Europe, Africa, the former Soviet Union, the Middle East, and Southeast Asia. He has substantial expertise in corporate governance and compliance issues related to international business transactions including the Foreign Corrupt Practices Act and economic sanctions.

He served for three years as Deputy Assistant Secretary for International Affairs, U.S. Department of Energy, during the George Bush Sr. Administration, where he was a senior policy advisor to the Secretary of Energy and the Department of Energy (DOE) on international energy matters and the primary DOE point of contact with foreign governments and international organizations. In this position, Thad led numerous U.S. Government delegations in bilateral energy consultations with foreign governments in the Soviet Union, Latin America, Europe, Asia and Africa, organized several conferences to assist the U.S. energy industry, and supervised a professional staff of 55 full time employees with an annual budget of $5.4 million.

As Senior Vice President and General Counsel* for Sovereign Oil & Gas II Company, Thad will be responsible for planning and directing all aspects of the company’s legal affairs, drafting and negotiating legal documents, managing the corporate governance and compliance program, advising on the various risks associated with international business transactions, and coordinating the work of outside counsel.

Key Skills:  Drafting and negotiating a wide range of agreements related to the international upstream oil and gas and oil service industries, domestic and foreign government relations, training of government and industry officials on legal and regulatory issues, and developing corporate governance and compliance programs.

Thad holds a B.A. from Washington and Lee University and a J.D. from the University of Houston Law Center. He is a member of the Board of Directors and Director of the U.S. Regional Chapter of the Association of International Petroleum Negotiators (AIPN), Director of the Houston Bar Association International Section and past Director and Treasurer of the Oil, Gas and Mineral Law Section, Member of the Bretton Woods Committee, Director of the UT Bureau of Economic Geology’s Center for Energy Economics, Advisory Director of the Houston Journal of International Law, member of the International Bar Association Sections on Energy and Resources Law and International Law Sections.

*Thad has provisionally accepted a position with Sovereign as Vice President and General Counsel subject to certain conditions that are pending at this time.

Mike Farhadi – Vice President of Engineering

As a seasoned multilingual, team-oriented Petroleum Engineer, Mike brings a wealth of worldwide experience in Field Development, Reservoir Evaluation, Production Optimization, Property Evaluation/Negotiation and Economic Analysis.

In the 1970’s Mike worked as a drilling, production and reservoir engineer on several oil and gas projects in the Gulf of Mexico and North Sea for Phillips Petroleum.

In the 1980’s, Mike joined Tenneco and was involved in field development and production optimization of multiple oil and gas fields in the Gulf of Mexico prior to his move into the international arena. He formulated and implemented an accelerated development strategy for the San Francisco field in Colombia that generated $10 MM in net cash income the first year of operation. He constructed a 3-D simulation model for the PG-Cebu field in Colombia that resulted in drilling water injection wells and infill producers yielding an additional 20 MMBO.

In the 1990’s, Mike managed the reservoir engineering team responsible for the development of the 307 MMBO Widuri filed in Indonesia for Maxus Energy. He planned and implemented an early production and development for the Surubi field in Bolivia and re-engineered Block 16 development plan by reducing 1994 capital budget by $100 MM without an impact on cash flow.

In the 2000’s Mike worked for OXY in Qatar on production optimization from the Idd El Sharghi field, and was responsible for reservoir surveillance of the East Zeit Field in Egypt for Ocean Energy.

Mike formulated and implemented training programs for development of national staff in several countries which resulted in improving technical skills of the nationals.

Serving in the role of VP of Engineering at Sovereign, Mike is responsible for identifying, directing, and performing the evaluation and appraisal of international exploitation and development projects. With a focus on accurate reserve estimation and state-of-the-art economic modeling of previously discovered partially delineated fields. He evaluates potential investment opportunities ranging from farmins and acquisitions of existing operations to developing entry strategies for new exploration activities.

Key Skills:  Multilingual, negotiation, and project management and supervisory skills. Mike is a Registered Professional Engineer and holds a MS in Engineering Management, a BS in Petroleum Engineering and a BS in Mathematics. He is fluent in English, Persian and Turkish.

James Looten – Vice President of Administration and Finance

James has over 30 years of experience in the oil and gas industry. He has a diversified and progressive career in accounting, finance, administration, human resources, supply chain management, contracts, and information technology.

In Equatorial Guinea, James managed CMS Oil and Gas’s accounting, administrative services, human resources, purchasing, materials, government relations, IT/Communications, security, and camp facilities. This facility became the showcase for oil production in a sensitive environmental area.

At YPF in Ecuador, James managed accounting, administrative services, telecommunications, contracts administration, information systems, logistics, warehousing, and purchasing functions in the Quito and Amazon jungle locations (total of 142 employees and contractors). His major accomplishment was the successful transport of #365 million worth of heavy equipment from Houston, over the Andes and on to its final destination in the rain forest.

As Project Manager at Maxus Energy in Indonesia, James was responsible for the re-engineering and computerization of operational and financial processes, including the implementation of accounting, equipment maintenance, inventory, purchasing, and human resources/payroll systems, which increased productivity and improved internal controls.

In his current role as Vice President of Administration and Finance at Sovereign, James is responsible for accounting, finance, human resources, information technology, procurement/contracting, and facilities.

Key Skills:  Re-engineering processes and establishing policies, procedures and internal controls. James works effectively with diverse cultures. He has a BBA from West Texas A&M University.

Lily Bruso – Owner, Corporate Secretary, Vice President and Treasurer

Lily L. Bruso acquired a 50 percent interest in Sovereign Oil & Gas Company in July 2003 and was elected Corporate Secretary, Vice President and Treasurer. Her background in oil and gas goes back more than 20 years when she authored a 3D seismic data migration program for an array of 4 Cray XMP super-computers entitled “3D Phase Shift Plus Correction Migration”. Lily’s research in this area was underwritten in part by ExxonMobil, who acquired the rights to her program and has used it extensively in their seismic data processing activities.

Lily’s role at Sovereign presently includes management of the company’s banking relationships and oversight of the company’s outside tax and legal advisors. She has more than 8 years experience managing international travel bookings and uses that experience to manage Sovereign’s travel office.

Key Skills:  Lily holds a BA in History from National Taiwan University and an MSc in Computer Science from the University of Houston, Texas.

John Lummus – Petroleum Economist, Manager of Commercial Analysis

John has a proven track record of providing petroleum engineering and financial expertise to domestic and international clientele in the area of investment analysis, business strategy, acquisition support, upstream economic modeling and reserve analysis.

In the 1970’s, he started his career with Tenneco as a petroleum engineer with Tenneco D&P Company. He was promoted to corporate staff engineer in the Oil and Contracts group. Responsibilities included technical support for litigation and liaison to divisions on federal and state oil and gas regulations.

As Manager of Reservoir Engineering at Florida Exploration Co., he directed a staff responsible for work over, re-completion and drilling recommendations as well as reserve estimates, budgets and planning functions.

As Manager of Planning and Analysis at Pogo Producing Company, John directed a staff responsible for strategic planning, property acquisition and disposition and engineering and valuation of international projects.

In the 1990’s, John was a Vice President for J.P. Morgan and Companies, serving as project leader and providing financial and/or technical support on numerous international and domestic projects, most notably: Kazakhstan – representing the Republic of Kazakhstan in negotiations with Chevron in creation of the TengizChevroil joint venture; Russia – advising a U.S. independent arranging financing through multi-laterals, guarantors and ECA’s for an oil and gas development project in Siberia; Venezuela – advising a U.S. based company on financing alternatives relating to an oil development project; Argentina – advising an Argentine company on strategy, valuation and financing relating to the acquisition of Argentine oil and gas properties owned by a U.S. Major; and, Australia – advising a U.S. independent on the strategy, valuation and financing relating to a tender offer for Australian properties.

As Senior Business Advisor for Gaffney, Cline & Associates, John provided engineering and financial expertise to GCA’s domestic and international clientele in the area of investment analysis, business strategy, acquisition support, upstream economic modeling and reserve analysis.  Specific projects included: providing analytical contract development advice for redevelopment of a KOC field; providing analysis of ADCO Thamama reservoir development options in Adu Dhabi; conducting fiscal system analysis for Petroperu; constructing a comprehensive, integrated economic model for Trinidad natural gas sector; conducting a study of gas and power demand and existing gas pipeline infrastructure leading to analysis of pipeline feasibility in Brazil.

For the past two years, as a consulting economist to Sovereign and its client, Syntroleum Corporation, John conducted analysis of Syntroleum’s global upstream and downstream investment opportunities. Tasks include fiscal regime modeling, supply and demand analysis, and analysis of gas monetization alternatives for projects in Nigeria, Papua New Guinea, and Indonesia.

Serving in the role of Manager of Economic Analysis at Sovereign, John is responsible for evaluating upstream development options, deal structure comparison and analysis, and full-cycle economic modeling.

Key Skills:  Advanced Economic Model design and analysis, building self checking and auto correcting full-cycle economic models. John has a B.S in Petroleum Engineering from the University of Tulsa. He has completed post-graduate courses at the University of Denver, California State University at Bakersfield, the University of Houston, and the J.P. Morgan Finance Program.

Diego F. Jaramillo – Vice President and General Manager, Sovereign Oil & Gas Trading, LLC

Diego, a native of Ecuador, was educated in the U.S. over a period of 8 years. Since then, his frequent business trips to the United States have allowed him to build relationships with senior executives of many U.S. companies, mainly in the downstream oil business.

Being connected to the oil sector from the beginning of the 1980’s, Diego formed the company Petrolec in Ecuador to provide services to different domestic companies including Petroproduction and major U.S. companies including Arco, Oryx, Oxy, Inpetrol, and Minga. At the same time, he was a consultant on various downstream projects, recently with Oil Tanking, acting as representative in trading crude oil and products.

His most important trading activities include finalizing long term contracts and spot cargos between Petroecuador and refineries and traders including: Triffinery; Tricentral; Inca Resources, with volumes ranging from 12,000 BPD up to 36,000 BPD.

In his current role as Vice President and General Manager of Sovereign Oil & Gas Trading LLC, Diego is responsible for gathering market intelligence associated with opportunities to purchase and/or sell crude oil and petroleum products in Central America, South America, and the islands of the Caribbean Sea. Diego is also responsible for identifying proven and prospective oil and/or natural gas investment opportunities in this same region.