The Board of Directors comprises the following:

• Neli da Silva Rigo
  Chairman and Director
• Dario E. Sodero
  President, CEO and Director
• Giuseppe Rigo
  Vice President International Operations and Director
• S.S. (Ali) Rawji, CA, CFA
  CFO and Director
• Derrick Armstrong
  Director
• Andrew (Drew) Burgess, CA
  Director
• Peter Haverson
  Director

The majority shareholder of Cygam Energy Inc., Mrs. Rigo is a businesswoman with many years of investment experience including 20 years as a Director of Farmkey Investment Limited, a private investment company controlled by the Rigo Family, and 10 years as a Director of Rigo Oil Company Limited, previously a private company and now a wholly owned subsidiary of Cygam.

A geologist with over 35 years of Canadian and international oil and gas exploration experience, Mr. Sodero is the President of Planaval Resources Ltd., a private consulting company. From 1969 to 1979 he worked at Canada Cities Service where he became Geological Manager; from 1980 to 1990 he was Vice President and President of Atlas Yellowknife Resources, a company listed on the TSX; in 1992 he co-founded Coachlight Resources Ltd., a company listed on the Alberta Stock Exchange which was merged with Danoil Energy (later renamed Acclaim Energy Trust) in 1998; in 1997 he co-founded Sheer Energy Inc., the predecessor company of Cygam Energy Inc. Mr. Sodero graduated from the University of Turin, Italy, with a Doctorate in Geological Sciences (Honours) in 1967.

Mr. Rigo has a degree in Geological Sciences from the University of Rome, Italy, and has 24 years of professional experience in oil and gas exploration. He was involved in the evaluation of sedimentary basins and permit applications in Italy with Italmin Petroli S.p.A. from 1982 to 1984. He worked in the United States for Seaxe Energy Corporation from 1985 to 1986 supervising geological and drilling operations for that company and returned to Italy in 1987 to continue work with Italmin Petroli. From 1988 to 1989, he worked as a consulting geologist for Italeco S.p.A. and from 1990 to 1993 he was the exploration geologist for Lasmo International Ltd., a British company. From 1994 to 1998 he was the Operations Co-ordinator for Lasmo Mineraria S.p.A., managing geological operations and proving liaison with the Ministry of Industry and the Ministry of Environment. In 1999 he founded Riogeo Petroleum, a consulting firm, to assist foreign oil companies operating in Italy and in the Mediterranean basin. During this period, he acted as the Italian Manager for Grove Energy Ltd., a Canadian oil company listed on the TSX Venture Exchange and on the London AIM Exchange.

Mr. Rawji provides financial reporting and corporate finance consulting services to public companies currently listed or in the process of listing on the TSX Venture Exchange. He was a Vice President at First Associates Investments Inc. from 1997 to 2004 where he was in charge of the Public Venture Capital Group in Calgary and led the financing of numerous private and public companies. He has been involved in the development of several initiatives in the public venture capital markets in Canada, including participating as a member of corporate finance committees at the TSX Venture Exchange. Prior to that he was Manager of Listings at the Alberta Stock Exchange from 1995 to 1997. Mr. Rawji is a Chartered Accountant and also holds a Chartered Financial Analyst designation and a Bachelor of Economics (Honours) degree from the London School of Economics (1981).

Mr. Armstrong is a partner and the regional head of the Securities and Capital Markets group in the Calgary office of a national law firm. He received a Bachelor of Commerce from the University of Calgary (1977) and an LLB from the University of Alberta (1980), and has practiced law in Calgary continuously since 1980. He is a Director of Centurion Energy International Inc. (TSX and AIM), Veteran Resources Inc. (TSX) and Zi Corporation (TSX and NASDAQ).

Mr. Burgess is President of Greenfields Financial Corporation, a private financial consulting company. He has extensive experience in the formation and management, including taxation and financial reporting, of both private and public companies. Mr. Burgess graduated from the University of Manitoba in 1974 with a Bachelor of Commerce (Hons.) degree and qualified as a Chartered Accountant in 1976 with Peat, Marwick, Mitchell & Co. He qualified as a Certified Public Accountant in 1999. Mr. Burgess is Chief Financial Officer and a Director of Huntington Resources Limited and Ecstall Mining Corporation, both junior resource exploration companies listed on the TSX Venture Exchange. Mr. Burgess is a member of The Institute of Chartered Accountants of Alberta and the Canadian Tax Foundation.

Mr. Haverson brings a wealth of international drilling experience having worked in the oil and gas business for over 30 years. He was involved in all types if onshore and offshore drilling operations whilst employed by British Petroleum (UK) Ltd. from 1974 to 1982. From 1982 to 1990, he supervised offshore drilling operations in the Beaufort Sea for Gulf Canada and affiliated entities; from 1990 to 1992 he was the Operations Manager for Asamera Egypt Limited which operated in the Egyptian Red Sea. From 1992 to 1998 he was the General Manager for International Petroleum Corporation in Tripoli, Libya, where he managed all the onshore operations in the Sirte Basin. In 1999 he returned to Egypt where he was General Manager and Director for Vanguard Resources, overseeing operations in the Eastern Desert and Red Sea areas until 2001. Since 2001 he as been employed by PetroCanada as Manager of Global Drilling & Completions and in currently based in London, England. Mr. Haverson received a B.S. Honours degree in Mechanical Engineering from City University in London, England in 1974. He is also a Director of Exceed Capital Holdings Ltd., a company listed on the TSX Venture Exchange.