ITERATION MANAGEMENT
Iteration Energy Ltd.'s new management and technical team is based on a group of professionals who worked together at CNRL and were instrumental in its growth from 35,000 boe/d to over 450,000 boe/d. They are technically focused people who generated their own prospects and evaluations throughout their careers as well as taking on technical management roles. The officers of the Company had joined together to form Iteration Energy Inc., which was then bought by Hawker Resources.

Brian Illing, President & CEO
As Executive VP he led the CNRL exploration department from 1993 to late 2003 and was the hands-on technical leader for growth projects in the Company during that time. He oversaw the drilling of more than 6000 Western Canada wells with a success rate of over 90%. The first 17 years of his career were at Gulf Canada Resources after completing his Geology BSc. and Geophysics MSc. in England.

Mark Ariss, VP Exploration East
Mark spent the past 12 years at CNRL as an Area Geologist and then Exploration Manager. He generated and reviewed over 1700 wells together with countless land sales and acquisitions. His prior career was at Gulf Canada Resources after completing his BSc. at the University of Western Ontario.

Sean Johnson, CFO
Sean has worked as a CFO for several corporations in Oil and Gas, Real Estate and Transportation. He has also been an auditor with KMPG, and his principle focus is corporate structure and taxation.

Jane Mactaggart, VP Exploitation
Jane joined CNRL in 1998 in an Area Exploitation role before becoming an Exploitation Manager. In this role she led the asset exploitation and property acquisitions for the 200 MMcf/d North Central Alberta area. Her earlier career was at Shell Canada after completing her BSc. in Scotland.

Carmen McKay-Illing, VP Corporate Affairs
Carmen spent 13 years at CNRL in the Exploration and Operations planning department. She was responsible for developing much of the operational data systems to control and plan the drilling programs from inception to completion. She was part of developing the corporate budget and tracking results against it. She has a background in land as well as data and systems management.

Myron Rak, VP Production
Myron spent 7 years at CNRL as a production engineer responsible for up to 100 MMcf/d in the Central and Northwest Alberta areas. His prior career was mainly at Husky and he has extensive experience in well completions and operations, facilities and pipelines, gas plants and compression, as well as joint venture issues and drilling. He completed his BSc. at the University of Alberta.

Kevin Stromquist, VP Exploration West
Kevin worked at CNRL from 1995 as an Area Geologist and then Exploration Manager. He was promoted to VP Exploration in late 2003 and was associated with over 1200 Western Canada wells, together with numerous land sales and acquisitions. He also worked at Gulf Canada Resources prior to CNRL and completed his BSc. at the University of Waterloo.

Ian Noble, Chief Geophysicist
Ian spent the last 12 years at CNRL generating several hundred drilling locations throughout much of Alberta. His earlier career was at Esso/Texaco after completing a BSc. in Mathematics and MSc. in Geophysics.

Gordon Howe, Land Manager
Gordon joined Iteration in August 2005, previous to that he spent his last five years at Penn West Petroleum as a negotiating landman. He has extensive experience in both negotiating and drafting agreements, and also has gained experience in surface land. He has a Commerce Degree with a major in Petroleum Land Management from the University of Calgary.

Board of Directors

Pat Breen P. Eng.,
President of Foremost Income Fund,

Howard Crone P. Eng.,
Independent Businessman - (former director - Cyries Energy Inc.),,

Dallas Droppo Q.C.,
Partner at Blake, Cassels and Graydon LLP, Barristers and Solicitors

Michael Hibberd,
Independent Businessman

Robert Waters CA,
Senior VP and CFO of Enerplus Resource Fund

Brian Illing P. Geol.,
President and Chief Executive Officer