Sandalwood's management strategy is to operate as a lean and efficient team which can actively pursue and quickly assemble prospects for drilling, development and sale. The management team, as well as the other employees, form a cohesive, energetic and creative group committed to the daily efforts as well as the long-term success of Sandalwood. Below are short biographies of the four key management team members:

John F. Ligon – Chief Executive Officer & Co-Owner:

Mr. Ligon, co-founder of Sandalwood in 1985, directs Sandalwood's management and strategy and is involved with Mr. Smith in supervision of the exploration team. He has 35 years of experience in the oil & gas exploration/production business. He began his career with a four-year service at TXO Production in Corpus Christi, Texas as an exploration/development geologist.

Mr. Ligon received a B.S. degree in Geology with a minor in Petroleum Engineering from the University of Texas at Austin where he graduated with highest honors. He is a member of the American Association of Petroleum Geologists, TIPRO, IPAA, Houston Producers Forum and various other industry associations.

Daniel L. Smith – Executive Vice President - Exploration:

Mr. Smith has 50+ years of oil & gas exploration experience with primary emphasis in South Louisiana. He directs third party prospect and property acquisition and coordinates exploration - management activities. He is responsible for causing more than 100 successful wells to be drilled, which resulted in numerous new field discoveries.

Mr. Smith started his career at Amoco Corporation after graduation from the University of Texas at Austin with a degree in Geology. After a period with Roberts and Whitson Petroleum Corporation he became Executive Vice President and Exploration Manager for Texoil Company, including having a part ownership of the company. In 1992 Mr. Smith became a consulting explorationist for Texas Meridian Resources Corporation. He accepted a position as Vice President, Exploration in 1996 and continued his work with Texas Meridian until 1999 when he again became an independent consultant before joining Sandalwood in 2001.

Mr. Smith has been active in several professional geological organizations, both on a local and national level. He has held numerous positions within these organizations and is a Past-President and Chairman for the American Association of Petroleum Geologists ("AAPG").

Donald J. Lindberg – Chief Financial Officer & Co-Owner:

Mr. Lindberg is responsible for Sandalwood's financial, accounting and tax matters. He is a Certified Public Accountant.

Mr. Lindberg has extensive experience in oil & gas matters having started his career at Arthur Andersen & Co. in 1979. In 1985 he accepted a position with Acadian Gas Pipeline System and left in 1995 as Vice President/Controller of Acadian and Asst. Controller of Tejas Gas Corporation (Acadian's parent company). In 1995, he formed DJL Financial Services, a business consulting, tax and financial planning firm and in 1997, was elected Chief Financial Officer/Vice President of Finance of Sandalwood as a result of his work for Sandalwood through his firm. He became a minority interest owner in Sandalwood on December 31, 2003. Mr. Lindberg received a B.S. degree in Accounting from Valparaiso University in 1979.

C. Phil Fleming - Vice President, Land

Mr. Fleming is involved in the management and supervision of the acquisition of oil and gas leases, and finalizing trades, negotiations and contract execution with industry partners. He is also responsible for coordinating efforts in the preparation of abstracts of title and title opinions, and with field Landmen to satisfy necessary title curative on drill-site and producing leases. His background in exploration and production activities has been primarily in the Gulf Coast area, with emphasis on Louisiana and Texas. Mr. Fleming started his career with Amoco after graduation from the University of Houston, with a degree in Business Administration. Mr. Fleming has previously been associated with Exchange Oil & Gas Co., Pend Oreille Oil & Gas Co., Tenneco Ventures Corp., and MCN Energy.

He has been actively involved in industry professional groups, including having served as President of the Petroleum Landmen's Association of New Orleans, and he is a Past President of the American Association of Professional Landmen.

Other Key Personnel:

Besides the geological expertise and experience of Mr. Ligon and Mr. Smith, Sandalwood presently employs the following other Key Team Members: