About Lucero Energy Corp.

Mr. Chernoff is a Professional Engineer with a Bachelor of Applied Science degree in Chemical Engineering from Queen’s University and has over 25 years of experience as founder, financier and builder of energy companies. Mr. Chernoff has been the President of Caribou Capital Corp., a private investment company, since 1999. Mr. Chernoff was Chairman and Founder of Harvest Energy Trust, which grew to 64,000 boe/d and was sold to the Korean National Oil Company in 2009 for $4.1 billion. Mr. Chernoff is the Chairman of Maxim Power Corp. and serves as a director of several public and private entities.

Mr. Herman has extensive oil and gas experience in leadership roles at public oil and gas companies. Most recently, Mr. Herman was the President & CEO of TORC Oil & Gas Ltd., and previously, President & CEO of Result Energy Inc. and TriStar Oil & Gas Ltd. Prior thereto, Mr. Herman was the Vice President, Finance & CFO of StarPoint Energy Ltd. and StarPoint Energy Trust.

Mr. Rain is a Chartered Accountant and brings over 30 years of experience in corporate finance primarily in the oil and gas and investment industries. He is a Director of Lucero, having served as the Company’s CFO from November 2013 through November 2018. Mr. Rain has been the CFO of Caribou Capital Corp. since its inception in 1999 and has been involved in a number of successful oil and gas ventures, which included completing debt and equity financings in Canada and the U.S., and building organizations of a significant size. Mr. Rain was the CFO of Harvest Energy Trust and has served on a number of private and public company boards.

Mr. Reaves is a Managing Partner at First Reserve, a leading global private equity investment firm exclusively focused on energy and Lucero’s long-term capital partner. Mr. Reaves has been with First Reserve since 2006. He also served as a director of Crestwood Equity GP LLC, prior to its merger with Energy Transfer LP in 2023. Additionally, Mr. Reaves serves as a director of numerous other private companies associated with his role at First Reserve. Prior to joining First Reserve, Mr. Reaves held roles in the Global Energy Group at UBS Investment Bank and Howard Frazier Barker Elliott, Inc. and holds a B.B.A. from the University of Texas.

Mr. Roorda has over 30 years of experience in the oil and gas industry. Mr. Roorda is currently the Managing Director of Windward Capital Limited, a private advisory company. He was formerly the CEO for Todd Energy Canada, the Vice Chairman for Canoe Financial Corp., the President and VP Corporate for Harvest Energy, VP Corporate and Director for PrimeWest Energy, Inc., Director for Northcliff Resources Ltd., and Managing Director for Research Capital Corporation.

Mr. Shwed is currently the President and Chief Executive Officer of Crew Energy Inc. Mr. Shwed graduated from the University of Alberta with a Bachelor of Science degree in Geology in 1980, and has held positions of increasing responsibility with various exploration and production companies before founding Baytex Energy Ltd. (“Baytex”) in 1993. He was the President and Chief Executive Officer overseeing the operations of Baytex, growing production to over 40,000 boe/d. In 2003, Baytex was reorganized into Baytex Energy Corp. and Crew Energy Inc. Mr. Shwed served on the Board of Directors of TORC Oil & Gas Ltd. from 2012 to 2021, and is currently on the Board of Directors of Inplay Oil Corp.