Executive Officers

Brian P. Shannon, 61
Chief Executive Officer & Director

Mr. Shannon has been chief executive officer of DEM, an affiliate of our sponsor, which provides accounting, asset evaluation, corporate restructuring, engineering, financial reporting, reserve assessment and other related asset management services to the upstream oil and gas industry, since October 2020. Prior to joining DEM, from September 2015 through October 2020, Mr. Shannon served as a founder, chief executive officer and president of Black Falcon Energy (“Black Falcon”), an upstream oil and gas management platform that implemented the successful transition, restructuring and day-to-day management of the assets of several private equity-backed upstream oil and gas companies. From October 2001 through August 2015, Mr. Shannon was founder and chief executive officer of Shannon Energy Advisors, which assisted clients in upstream and midstream acquisition and divestiture transactions and debt and equity processes. Mr. Shannon served in oil and gas financing officer positions with Southern Company Energy Capital Group from May 1998 to September 2001 and TCW Asset Management from September 1994 to April 1998. Prior to that, Mr. Shannon worked in the upstream oil & gas industry in various production, drilling and reservoir positions with Texaco and affiliates from September 1983 to October 1991 and Unocal Corporation from May 1980 through August 1983. Mr. Shannon’s prior board of directors affiliations also include Jamestown Resources, LLC, Larchmont Resources, LLC, Pelican Energy, LLC and Intervention Energy, LLC, all of which ended in October 2020 as well as Traditions Oil & Gas, LLC which ended in May 2015.

John T. Perri, 62
Chief Financial Officer & Director

John T. Perri has also served as president of Dorchester Capital Corporation, LLC, a diversified private equity company with investment profiles that include upstream oil and gas, healthcare, commercial real estate, professional sports franchises and entertainment since June 1991; as a director of DEM since October of 2020; and as sole manager of our sponsor since its inception in February 2022. In April 2021, Dorchester Resources, L.P. (“DR”), an upstream oil and gas company where Mr. Perri had been manager of its general partner from inception in 2015, filed a prearranged Chapter 11 plan under the U.S. Bankruptcy Code. Subsequently, as part of the reorganization plan, the new entity DRII, LLC emerged in 2021 following a 363 sale of certain assets approved by the Bankruptcy Court in July 2021. The Chapter 11 plan for DR was later dismissed in September 2021. Mr. Perri served as an independent director of Medical Facilities Corporation (TSX:DR), a British Columbia corporation that partners with physicians to own a portfolio of surgical facilities in the United States, for five years ending in May 2017 . Mr. Perri began his career in public accounting with PricewaterhouseCoopers, leaving as a Senior Tax Manager in 1991.

Board of Directors

David M. Wood, 65
Independent Director Nominee and Non-executive Chairman

Mr. Wood served as president, chief executive officer and was a member of the board of directors of Gulfport Energy Corporation, an oil and natural gas exploration and production company with principal properties located in the Utica Shale and Oklahoma, from December 2018 until May 2021, where he created systems of control and governance and established a strong ESG foundation. Gulfport Energy filed for bankruptcy in 2020 and emerged in May 2021. Mr. Wood was chief executive officer of Gulfport Energy at that time. From June 2018 through March 2020, Mr. Wood served as a member of the board of directors and then as chairman of the board of directors of Lilis. Prior to joining Lilis, Mr. Wood served as chairman of the board of directors of Mountaineer Keystone (later renamed Arsenal Resources), a private equity-backed oil and natural gas exploration and development company focused on the Marcellus shale, and as

Michael G. Long, 69
Independent Director Nominee

Prior to joining the Company, Mr. Long served as a member of the board of directors of Lilis from April 2018 until December 2020, where he served as the chairman of the audit committee beginning in April 2018 and the chairman of the board of directors beginning in March 2020. From October 2016 to March 2018, Mr. Long served as a member of the board of directors of S&A Resources LLC, a Denham Capital-backed private upstream oil and gas start-up company focused on the Eagle Ford Shale. Mr. Long also served as the chief financial officer for Sanchez Energy Corporation and its privately held affiliate Sanchez Oil and Gas Corporation, which is heavily involved in the Eagle Ford Shale, from May 2008 until his retirement in May 2015; and as executive vice president and chief financial officer of Edge Petroleum Corporation from December 1996 through May 2008.

Stephen A. Bishop, 51
Independent Director Nominee

From March 2019 until the company’s successful sale in August 2021, Mr. Bishop served as executive vice president and chief financial officer of American Zinc Recycling LLC, a private-equity backed environmental services company. Between July 2011 through November 2017, Mr. Bishop served in a number of positions including chief financial officer, president and director of Mountaineer Keystone (later renamed Arsenal Resources).