We are committed to the highest standards
GOVERNANCE
Board of Directors
Arthur S. Millholland
Calgary, Alberta Canada
The President and CEO of the Issuer since August 2009. Prior thereto, Mr. Millholland was a Director and the President and CEO of Oilexco Incorporated from 1994 until July 2009. Mr. Millholland was a member of the Board of Directors of Rupert Resources Ltd. from March 2014 to December 2017. He has been a Professional Geologist for over 36 years. Mr. Millholland has worked in a variety of regions including the UK North Sea, Canada, the Gulf of Mexico, the United States, South America, and West and North Africa. He is a member of the American Association of Petroleum Geologists. He is a graduate of the University of Waterloo where he obtained an Honours Bachelor of Science degree in Earth Science.
Massimo C. Carello
London, United Kingdom
Mr. Carello has over 40 years of international senior management and board level experience and in the past ten years has operated as an independent businessman providing services as a consultant and managing his own investment portfolio. Mr. Carello was a director of Orsu Metals Corp. from September 2008 until December 2016 and a director of Canaccord Genuity Group Inc. from August 2008 until August 2018. Before moving to UK in 1990, where he currently lives, Mr. Carello was the President and Managing Director of Carello Group SpA. The company was the third largest European headlamp producer before being sold to the Fiat Group. Mr. Carello is a Knight Commander of the Royal Order of Francis I of the Two Sicilies, and has a degree in Political and International Sciences from the University of Turin.
Harald H. Ludwig
West Vancouver British Columbia Canada
Mr. Ludwig has over 30 years of extensive business and investment experience, and is currently the President of Macluan Capital Corp. (a diversified private equity investment company). He was a member of the Board of Directors of Lions Gate Entertainment Corp. (NYSE) from June 2005 to September 2016, a Director of West Fraser Timber Co. Ltd. (TSX) from May 1995 to April 2017 and a Director of Seaspan Corporation (NYSE) from August 2012 to April 2018. He is a founding partner or private equity investor in a number of North American and international private equity firms, hedge funds, mezzanine lenders, growth capital providers, distressed investment firms and real estate investment vehicles.
John F. Cowan
Sarnia, Ontario, Canada
Mr. Cowan, a petroleum geologist, has been involved in the Canadian oil and gas industry for 40 years. During this period he and his team founded three publicly listed Canadian junior exploration, production and storage companies. Mr. Cowan’s previous public company committee experience includes: Audit; Corporate Governance and Reserves; Health and Safety; and Compensation. Mr. Cowan 4,041,742 5 35,415,530 – 11 – Name & Location Of Residence Current Positions & Offices Held Principal Occupations During Past Five Years No. of Common Shares 1 No. of Common Share Options was a director of Dundee Energy Ltd. (TSX) from September 2011 until April 2017. Mr. Cowan is the Chair of COPL’s Audit Committee and Reserve Committee. In 2004 Mr. Cowan was a founding shareholder and President of Xtivity Inc. a closely held, Maintenance Inventory Optimization firm. The company was sold February 28, 2020, and on April 2, 2020, Mr. Cowan became a founding shareholder and President of BrineTech Inc, a privately held, petroleum-sector, industrial brine operator in Ontario.
Robert J. Chenery
Calgary, Alberta Canada
Mr. Chenery has worked in the petroleum and natural gas industry for more than 50 years. Since 1981, Mr. Chenery has been President of Chenery Dobson Resource Management Ltd, a firm specializing in the evaluation and management of oil and gas assets primarily controlled by investors, banks, and other financial institutions. In addition, on behalf of some of the same clients, Mr. Chenery has been the CEO and/or Chairman of the board of several small oil and gas enterprises. Prior to 1981, Mr. Chenery was a member of the senior management team of the Elf/Aquitaine Group in
Canada. Academic qualifications include a Bachelor of Science in Geological Engineering and a Master in Business Administration. Mr. Chenery is also a member, in good standing, of the Association of Professional Engineers and Geoscientists of
Alberta (APEGA).
Mr. Chenery will Chair the COPL Reserves Committee and sit on the Health, Safety, and Environment Committee.
Independence and Board Committees
Name
Compensation Committee (3)
Corporate Governance and Nominating Committee (4)
Audit Committee (4)
Reserves Committee (3)
Independent Outside Directors
Massimo C. Carello
Harald H. Ludwig
John F. Cowan
Chairman
🗸
🗸
Chairman
🗸
🗸
🗸
Chairman
Chairman
Not Independent - Management Directors
Arthur S. Millholland
🗸
