To complement a small but impressive and growing number of individual and institutional shareholders, Ambit has assembled a sterling and distinguished board of five directors; four of whom are independent of management. In addition, we also have a small management team of three officers; of which one is a director.
Ambit has also assembled a strong team of operations individuals composed of senior international oil field experts in engineering, accounting, operations, asset management and community affairs management. The team is now being mobilized to commence work in Nigeria.
Viscount Torrington, Advisor to the Board
Viscount Torrington is an Oxford graduate in geology with extensive background in both the oil & gas and mining sectors in Africa and Europe. He served in technical and managerial roles with Anglo American plc and Lonrho plc. He was Managing Director of the Attock Oil Company, later Anvil Petroleum plc, a Director of Flextech plc and Chief Executive of Expro, a major UK oilfield services contractor. In 1995, he became Managing Director of Heritage Oil & Gas Limited, later listed in Toronto as Heritage Oil Corporation, and he is currently a Director of Lansdowne Oil & Gas plc. He served as Chair for the UK House of Lords’ EEC Energy, Broadcasting and Telecommunications Committee, and has been a Director of numerous public companies in the United Kingdom, Canada and Australia. He is also currently a Director of the Kasanka Trust (Kasanka National Park, Zambia). He is also a member of the London Business School’s Regional Advisory Board for Africa.
Gregory Turnbull, Advisor to the Board
Greg is a respected legal practitioner in corporate securities, finance and governance matters, who has dealt with all aspects of public company creation, growth, change and termination. He has been actively involved in the initial public offerings of more than 40 companies. Greg is the Managing Partner (Western Canada) for McCarty Tetrault LLP, leading their Corporate Finance and Mergers & Acquisitions groups. He is a Director of Crescent Point Resources Ltd., Hawk Energy Corp., Heritage Oil Corporation, Rally Energy Corp., and Storm Energy Ltd. Greg formerly served as Corporate Secretary / Assistant Corporate Secretary for Baytex Energy Ltd., Barrington Petroleum Ltd., Mannville Oil & Gas Ltd., Pinnacle Resources Ltd. and several other significant exploration & production companies. He is also a past member of the Securities Advisory Committee of the Alberta Securities Commission
Greg is a retired barrister and self-employed investor. He brings a great deal of experience in financial and resource-related matters. He has been a Director of a number of Canadian and USA private and public companies.
Andrew is merchant banker and spent 5 years in Nigeria as the Managing Director of CTB Stockbrokers. He is the founder and Executive Director of First Canadian Merchant Bank (Barbados) Ltd. and a director of several public and private Canadian companies, including Beaumont Select Corporations Inc. During his tenure in London, Andrew has served as a member of the National Association of Pension Funds Investment Protection Committee.
Andrew also functions as the Temporary Chief Financial Officer of Ambit.
Tunde Agbi, President, CEO and Director
Tunde Agbi is a recognized leader in the oil patch as a businessman, reservoir engineer, software designer, and technical consultant. Tunde is a Shell scholar who attended universities in the UK and Canada before beginning a 34 year career in the Canadian and International oil industry.
Notably he was a senior reservoir engineer with Mobil Oil Canada, where he was involved in the design, implementation and operation of three of the most successful hydrocarbon miscible floods and over half a dozen water flood projects. He was also involved in the optimization of the development of the Sierra gas field from 30 BCF to 120 BCF.
Tunde was also head of the computer applications group and project leader at the Petroleum Recovery Institute (‘PRI’), where he was responsible for the screening of Alberta reservoirs for Enhanced Oil Recovery potential. This lead to his co-authoring one of the PRI’s most widely distributed reports, entitled “Enhanced Oil Recovery Potential in Alberta Conventional Reservoirs”. He was also responsible for the preliminary investigation, the initial design and the implementation of the Joffre Viking CO2 miscible flood project. This CO2 project is still operational.
Tunde has presented and authored several technical papers and edited two textbooks in mechanical and petroleum engineering and as a consultant he has conducted several engineering studies and implemented several projects on behalf of clients around the world.
Tunde is determined to develop and efficiently execute energy projects in West Africa as a conscientious world citizen who will only operate in a healthy and safe environment for his employees under the strictest code of ethics.
Donald Prior, Senior Vice President & General Manager – Nigeria
Don has held senior positions in energy projects in Nigeria, Gabon, India, Indonesia, Papua New Guinea, South America and North America. Don’s experience includes several start-up scenarios where he has led the initial development and operations from planning through to production. He has a B.Sc (Geol) and MBA (Global Management) and is also a graduate of the Canadian Military College System (HMCS Venture). Don was the Operations Manager (Gabon) for Chauvco Resources Ltd. from 1995 to 1998. In that time he was responsible for the drilling of two vertical wells and 11 horizontal wells in the Remboue Field in Gabon. From 1998 to 2000 he was the General Manager – India Operations for Niko Resources Ltd. of Calgary. During this time 13 wells were drilled to develop the 1.0 TCF Hazira gas field and 3 wells in smaller fields. He was the Senior Operations Manager, Papua New Guinea for InterOil Corp from 2004 until 2006 where he set up the infrastructure for drilling three wells in one of the last frontier areas in the oil industry. Two of the wells were totally supported by helicopters due the lack of roads in coastal areas of New Guinea.
Don is committed to operate a safe and efficient team of oil field professionals to develop production in harmony with the environment and the local communities.
Stephen Balog, Vice President Engineering
Steve is a senior exploitation and development engineer with extensive experience in the management of field and facilities development. He has been responsible for billion dollar assets, 65,000 BOEPD production and hundreds of employees in many jurisdictions. He has progressed from a field engineer to senior management covering all aspects of petroleum production.
Steve has a BSc. in Chemical Engineering as wells post graduate studies in Senior Management Programs and Management Leadership Programs. He was responsible for the development of 200 mmcfpd production capability in central Canada as well as implementing enhanced oil recovery, infill drilling and horizontal drilling as growth strategies.
Steve has worked in field development management in joint venture operations, government operations and public company operations. He built a production operations organization structure comprised of over 400 professional, technical and operations staff as Vice President of SASKOIL which re-engineered over $750 million of producing property acquisitions.
Steve is seriously committed to community relations, safety and environmental management processes to support expanded operations requirements.
Laurie Bragge, Community Affairs Manager
Laurie has a Business Management degree. He has spent his career in frontier areas amongst indigenous peoples. He joined Oil Search, the largest oil company in Papua New Guinea, and became their Community Affairs Manager, Strategic Planner and CA Executive Officer. He developed and is continuing to maintain an all-encompassing Community Affairs manual which captures industry best practices across 16 separate areas that make up the CA world.
Abe Hirani, Financial and Accounting Manager
Abe has a Bachelor of Arts degree and is a Certified General Accountant (CGA) in Canada. He has over 20 years of diverse experience in all areas of oil and gas financial and management accounting. He has an excellent understanding of Framework of Management Controls and Business Practices as well as strong leadership, organisational and planning capabilities, with excellent interpersonal skills. Abe's international, technical and practical experience has been gained through fast track job rotational assignments in oil and gas accounting projects with Esso, Quatargas, and Alberta Energy Company.
Douglas Minken, P. Geol., P. Geo., Vice President Exploration
Douglas is a senior professional geologist with over 35 years of experience in oil and gas exploration and development programs in North America, the Middle East and Africa. The primary focus of his endeavours was to develop geological prospects in some of the world’s most prolific hydrocarbon bearing sedimentary basins and to conduct detailed reservoir studies for determining and exploiting potential reserves. He has managed drilling funds as well as supervision of well site operations in Canada and the United States of America. He has a BSc in geology from the University of Calgary, Alberta.
Douglas has developed and instructed several different geological courses to professional geoscientists from Lybia and China. He has presented business courses to high school students in Canada as well assisting in professional development events for university geosciences students. He was the technical co-chair for two major Canadian oil and gas conferences, as well as being an author/co author for two published scientific papers. He belongs to a number of professional organisations in Canada and the United States.
Most recently Douglas has conducted regional and pool studies on the Nile Delta in Egypt and the Niger Delta in Nigeria, and evaluated prospects and acquisition candidates in Gabon, Algeria, and Syria. All the geological studies were intertwined with considerable seismic and some engineering data.
Domestically over the 35 year period many successful exploration prospects were drilled. Several of the successes were the result of a re-interpretation of well logs. Doug’s evaluation resulted in the drilling of ten successful gas wells in a row. Another 15 wells were added to the pool. Total estimated recoverable reserves were estimated to be 40-50 bcf of gas. A second opportunity arose with a geological interpretation which resulted in drilling that produced10-12 successful oil wells for an additional recoverable oil reserve estimated to be 800 thousand to 1 million barrels. A third opportunity resulted in two wells on the prospect flowing over 750 barrels of oil per day. The final pool contained about eight wells and the estimated recoverable oil reserve is well over a million barrels.
Douglas is totally committed to developing prospects with the highest degree of technical competence while respecting environmental and safety issues.
Julian Counsel, Asset Manager
Julian has a Master of Business Administration degree. He has spent most of his career in harsh environments managing people and projects. In his last position with InterOil in Papua New Guinea he was a field manager responsible for hundreds of people and millions of dollars of assets. He is a big picture visionary with an ability to understand how daily operations shape results and goals. Julian is creative, dependable and an enthusiastic change agent with proven track record in improving efficiencies, reducing costs and increasing revenues.
Peter Kubernat, Asset Manager
Peter has undertaken a wide range of both executive and policy formulating appointments emphasising personnel management, departmental and technical administration, maintenance engineering, training (both job and safety), equipment procurement procedures, as well as the preparation of policy and concept papers. In his last position with InterOil in Papua New Guinea he has supervised staff in a range of harsh environments and strengths up to two hundred people. He has had substantial financial responsibilities, including preparation of estimates, initiation and management of freight, maintenance and purchasing contracts, and in particular, procurement of engineering, medical and oilfield equipment. Peter also has extensive military experience from the Australian army.
Engineering and drilling services are supplied to Ambit by Niven Fischer Energy Management Inc. Out of Calgary, Alberta, Niven Fischer supplies total engineering services to the international oil industry. They will do the initial well design for Ambit. Their website is located at www.nivenfischer.com.
Legal Counsel Canada
McCarthy Tétrault LLP
#3300, 421 & 7th Avenue S.W.
Calgary, Alberta, Canada, T2P 4K9
Legal Counsel Nigeria
Adepetun Caxton–Martins Agbor & Segun
9th Floor, St. Nicholas House
Catholic Mission Street
#1200, 205 – 5th Avenue S.W.
Calgary, Alberta, Canada, T2P 4B9
National Bank of Canada
#2700, 530 8th Avenue S.W.
Calgary, Alberta, Canada, T2P 3S8