Associate Geologists & Engineers

William Sterling Donovan - Consulting Petroleum Engineer

Summary of Experience

Experienced in wellsite operations including drilling engineering, supervising completions and workovers, and wellsite geology.

Designed completions, stimulation treatments and development plans.

Analyzed fields, wells, drilling proposals, recompletions and workovers improving production and profitability.

Performed petrophysical evaluations of open hole logs, cased hole logs, core analysis, mudlogs, and pressure tests. Studied under Dr. Pickett and Dr. Hilchie at the Colorado School of Mines.

Prepared reserve evaluations which were used to determine fair market value, substantiate bank loan values, evaluate drilling prospects, prepare business plans and meet corporate reporting requirements.

Licenses and Organizations

New Mexico Registered Professional Engineer #8258

Colorado Registered Professional Engineer #26587

MMS Certified Well Control Operator's Representative

Technical Program Chairman, 1989 SPE Rocky Mountain Regional/Low Permeability Reservoirs Symposium

Member of the SPE, AAPG, RMAG, SWPLA and DWLS

Education

M.S. Petroleum Engineering; Colorado School of Mines, 1979

B.S. Geology; University of Wisconsin, 1970

Experience

Petroleum Engineer, Donovan Brothers Incorporated, and Automated Mudlogging Systems

     October, 1989 to present

     -wellsite supervision in the Rocky Mountain region
     -wellsite geology and mudlogging in US, Romania and Moldova
     -develop and patent mudlogging equipment and provide mudlogging services
     -design completions, stimulation programs and drilling plans
     -prepare field studies and reserve reports
     -evaluate logs from all major U.S. producing regions

Executive Vice President, IR Energy Financing Corporation

     January, 1983 to October, 1989

     -corporate officer, with sole check and project authority to $1,000,000.00
     -marketed, negotiated and sold oil and gas properties
     -prepared reserve reports, budgets and business plans
     -evaluated and invested in oil and gas prospects

Reservoir Engineer, Resource Services International, Inc.

     October, 1981 to January, 1983

     -prepared reserve evaluations of properties from all major U.S. producing regions
     -evaluated petrophysical logs, transient pressure tests and drawdown tests
     -expert witness in oil and gas hearings, tight gas sand hearings and lawsuits

Staff Engineer/Staff Geologist, Dugan Production Corp.

     May, 1976 to October, 1981

     -supervised drilling and completion operations
     -drilled and completed numerous coal gas wells
     -witnessed logs and made casing point elections

Laboratory Supervisor/Mudlogger, Core Laboratories, Inc.

     December, 1971 to September 1975

     -managed a core laboratory and ran core analysis
     -mudlogged in the Rocky Mountains and the Canadian Arctic

Publications

`The Price Gramps Field`, Oil and Gas Fields of the Four Corners, Four Corners Geological Society.
`An Investigation of Spectral Gamma Ray Emissions and Cation Exchange Capacity in the Muddy J Formation`, with Dr. D. W. Hilchie, SWPLA Log Analyst.
`A Study of the Factors Influencing Well Productivity of the `J` and Codell Reservoirs`, SPE Rocky Mountain Regional/Low Permeability Reservoirs Symposium.
`Mudlogging Method Calculates Coalbed Gas Content`, Oil and Gas Journal.
see www.mudlogger.com for other publications

Patents

Drilling Nipple Gas Trap, Patent Number 5,007,488
Compensated Gamma Ray Mudlog, Patent Number 5,165,275

Claudio Fonseca - Consulting Reservoir Engineer

Reservoir engineer with over 15 years experience in oil and gas development and research. Principal areas of expertise include specialization in application and development of numerical simulators for fluid flow in petroleum reservoirs, pressure-transient analysis, improved/enhanced oil recovery, unconventional reservoirs and the integration of detailed reservoir studies. Conducted and supervised multiple projects in several Latin America countries.

Summary of Experience

Experienced in acquisition and divestiture ventures in Latin America.

Prepared reserve evaluations which were used to determine fair market value and substantiate bank loan values.

Evaluated drilling prospects and prepared business plans to meet corporate requirements.

Prepared development plan for conventional and non conventional reservoirs.

Managed and actively participated in the reservoir characterization and numerical simulation by using finite difference and streamline modeling techniques.

Designed, interpreted and supervised pressure transient tests for oil and gas fields.

Screening EOR processes in mature oil fields in Argentina and Peru.

Development planning of several exploration projects.

Actively participated in the recompletion and re-development plan of several fields in the Latin America region.

Analyzed fields, wells, drilling proposals, recompletions and workovers improving production and profitability.

Organizations

Member of Society of Petroleum Engineers Jun. 1992 to present.

Reservoir Simulation TIG moderator of SPE Argentina March 1999 to 2001.

Organization Committee Member of the First Symposium in Numerical Simulation in Argentina, 2001.

Organization Committee Member of the Second Meeting on Numerical Simulation in Argentina, 2002.

Technical Advisor for Repsol - YPF in Streamlines Project developed in Colorado School of Mines.

Research Assistant at Marathon Center of Excellence for Reservoir Studies (MCERS).

Education

M.S. Petroleum Engineering; Colorado School of Mines, 2004 (Completed Course Requirements for the degree)

ESCUELA ARGENTINA DE NEGOCIOS; Neuquen, Argentina. MBA. December 2000

THE UNIVERSITY OF TEXAS AT AUSTIN; Austin, TX, USA. YPF funded grant, Petroleum Engineering Special Education Program December 1994.

UNIVERSIDAD NACIONAL DE BUENOS AIRES; Buenos Aires, Argentina. Bachelor of Science in Petroleum Engineering December 1992.

UNIVERSIDAD NACIONAL DE LA PLATA; La Plata, Argentina. Hydraulic Engineering Dec.1990 , Civil Engineering Dec. 1990,`Building Engineering June 1989.

Publications

`Evaluacion de la Eficiencia Volumetrica de Barrido mediante Trazadores en un Proyecto Maduro de Recuperacion Secundaria del Yacimiento Chihuido de la Sierra Negra`, Claudio Fonseca, Carlos Somaruga, Nestor Barros, paper presented in 2005 II Jornadas sobre Recuperacion Secundaria y Asistida, Malargue, Mendoza, Argentina.
`Reservoir Study of the Largest Oil Field in Argentina - A Two Reservoir 2200 Well Simulation Model`, C. Fonseca, Tuba Firincioglu, Gustavo Fernandez, Chet Ozgen, Alejandro Albertoni, paper presented in 2004 SPE Annual Meeting, Houston, Texas, USA.
`New Surfactant for Chemical Flood in High-Salinity Reservoir`, Alain Zaitoun/IFP; Claudio Fonseca/REPSOL-YPF; Paul Berger/Oil Chem Technologies; Brigitte Bazin and Nicole Monin/IFP. Paper presented in the 2003 SPE International Symposium on Oilfield Chemistry, Houston, USA.
`Recognition of Compartmentalization and Reserve Growth Potential un a Structurally and Stratigraphically Complex Reservoir , Example from the Barrancas Norte Field, Cuyana Basin, Argentina`, Holtz, Mark, Yeh,Chang U.T. at Austin, Austin Texas and Fonseca, Claudio YPF S.A. Argentina. Abstract submitted to the 1997 SPE Annual Convention.
`Trapping Styles of Potrerillos Formation ( Ladinian - Carnian ) in the Barrancas Oil Filed, Mendoza`, Jalfin, G., Andrada, L., Bugarini, M., Fonseca, C., Frati, G., Lafourcade, P., Moreiras, E.. Paper presented in the Mendoza Reservoir Characterization Meeting, Nov. 96.
`Study of production of water because of coning in Well Epn-1012, El Porton Field`, P. M. Carrica, Diego Diaz, C. Fonseca y Edgardo Moreiras. Paper presented in Repsol - YPF Congress Madrid Spain.
'Effect of Interference of Adjacent wells in the interpretation of Falloff Tests', C. Fonseca y Edgardo Moreiras. Paper presented in Repsol - YPF Congress Madrid Spain.

Academic Activities

'Applied Reservoir Simulation' Course professor for Postgrade Petroleum Engineering Department, Instituto Tecnologico de Buenos Aires (ITBA), Buenos Aires Argentina
`Fundamentals of Reservoir Simulation` Course professor for Undergraduate Petroleum Engineering Department, Instituto Tecnologico de Buenos Aires (ITBA), Buenos Aires Argentina
`Transient Well Testing` Course professor for Undergraduate Petroleum Engineering Department, Instituto Tecnologico de Buenos Aires (ITBA), Buenos Aires Argentina
`Transient Well Testing` Course professor for Postgraduate Petroleum Engineering Department, Instituto Tecnologico de Buenos Aires (ITBA), Buenos Aires Argentina

R. Michael Lloyd - Consulting Geologist

Dr. R. Michael Lloyd is an independent consulting geologist from Houston, Texas. He was with Shell Oil Company for 20 years during which time he occupied positions of growing responsibility in research, exploration and development.

Since leaving Shell in 1977 Dr. Lloyd has undertaken exploration projects and prospect generation in most of the productive basins of North America. He has also participated in exploration projects and development studies in many of the important carbonate basins world-wide.

Dr. Lloyd is a recognized authority on the deposition, diagenesis and porosity evolution of carbonate rocks and has authored numerous publications on these subjects. As an independent consultant he as applied his knowledge of carbonate rocks in his own exploration, in exploration and production studies for major oil companies and as an instructor in training courses for major and independent oil companies and the AAPG and SPE.