Universal has assembled a dynamic and experienced management team.

Gabriel Ollivier Director and CEO Mr. Ollivier is an independent business consultant, working with various for-profit and not-for-profit entities. Prior to this role, he spent nine years in the Canadian brokerage industry, most recently as a Managing Partner and Institutional Equity Salesman at Paradigm Capital Inc., and also as a Partner and Institutional Equity Salesman at Cormark Securities Inc. Based in Alberta, Canada, Mr. Ollivier’s primary focus at these dealers was on the development and growth of their presence in the energy and energy services business. Mr. Ollivier also spent 10 years in the oil and gas industry with Canadian Hunter Exploration Ltd, Crestar Energy Inc., and Murphy Oil Company Ltd. He has worked in various senior economic, planning and financial roles. He holds a Masters degree in Economics and a Bachelor of Commerce degree, both from The University of Calgary, and is also a Chartered Financial Analyst (CFA) and a Certified Management Accountant (CMA).

Maria Elliott Vice President, Finance and CFO Ms. Elliott is a Certified General Accountant with over 17 years of oil and gas financial and reporting experience, of which 15 years are specific to international operations. Prior to joining the Company, Ms. Elliott was the CFO and Controller of Action Energy Inc. She also held the respective positions of Chief Internal Auditor and Controller at Sherritt International. Ms. Elliott has set up international offices, negotiated with government officials, implemented and monitored internal controls locally and internationally, including compliance and risk management, and has been a leader in all areas of financial reporting.

Mark Monaghan Executive Director, Business Development Mr. Monaghan is a business consultant with 17 years of institutional equities and public company experience. His career has spanned across the spectrum of corporate finance, corporate development, merchant banking, executive management and board appointments. He has worked in various senior capacities at TD Securities, Deacon Capital, CT Securities, Quest Capital, and has also been a strategic advisor to several publicly listed companies. Mr. Monaghan has extensive experience in international resource finance, corporate development and management strategy. He holds a Bachelor of Arts degree from Queen’s University and a Bachelor of Commerce degree from the University of Windsor.

Curtis Evert Vice President Exploration and New Ventures Mr. Evert is a professional geologist with over 25 years of experience in the energy sector. Over the past 12 years, he has held various senior management roles with companies such as Marathon Canada, Sherritt International Corporation, and Husky Energy Corporation (Husky). Of particular importance to Universal, Mr. Evert has extensive experience in international oil and gas exploration and development, as well as an in-depth understanding of offshore drilling and field development. He has most recently overseen several large offshore deepwater discoveries made by Husky in the South China Sea.

DIRECTORS

Duane Parnham Chairman Mr. Parnham is the co-founder of Forsys Metals Corp. (FSY – TSX), a TSX listed near term uranium company. Prior to that he served as President, CEO and Director of Temex Resources Corp. since its creation in 1996 until January 2005. He has a record of success in geological and environmental consultation, corporate development, and regulatory compliance for publicly listed companies and in corporate finance to the junior mining industry. Over the past 3 years Mr. Parnham has assisted in raising in excess of $100 million CDN for the companies in which he holds a Director’s position.

Michael Black Independent Director Mr. Michael Black is the Managing Partner of Heenan Blaikie LLP’s Calgary energy-focused office, and is also a member of the firm’s seven-member national Executive Committee. Mr. Black has extensive legal experience in the energy sector, ranging from the negotiation and drafting of both domestic and international joint operating and joint venture agreements, the negotiation and execution of resource-based transactions, and other legal and commercial matters specific to the conduct of business in international jurisdictions. Mr. Black has recently acted as the lead counsel on several multi-billon dollar international energy merger and acquisition (M&A) transactions. In the past five years, he has led over 50 M&A deals. Mr. Black received his law degree (LLB) from the University of British Columbia in 1984.

Mark Frewin Director Mr. Frewin is a Partner at McCarthy Tétrault, and brings his extensive legal and commercial expertise to the Company’s Board. Mr. Frewin has a particularly strong background in dealing with international law. In addition, he has extensive experience in Africa, with specific knowledge of the legal environment in Namibia where he has served with Mr. Duane Parnham, Chairman of Universal, on the board of Forsys Metals Corp (FSY:TSX), a permitted emerging Namibian uranium producer.

Knowledge Katti Director & Consultant Mr. Katti is a distinguished Namibian businessman with over 10 years of experience in national and international exploration and government activities. He graduated from the University of Namibia in 1996 with a Bcomm degree in Accounting and Finance. Mr. Katti is the President of Kunene Energy, a Namibian oil and gas exploration and production company that Universal owns 90%.

Donald Sharpe Director & Consultant Mr. Sharpe is a professional geophysicist with over 25 years experience in the oil and gas business. He has gained wide experience in exploration, production, marketing, finance and the management of public companies. Mr. Sharpe started his career in oil and gas exploration with Suncor Inc. as an exploration Geophysicist and later a group leader, planning, budgeting and executing exploration programs. Mr. Sharpe has consulted to, managed and served as a director of a number of successful start-up companies including Gemini Energy Inc. and Velvet Exploration Inc. Mr. Sharpe received a Bachelors of Science in Geophysics from the University of British Columbia in 1981, a Certificate in Business Management from the University of Calgary in 1989 and graduated from the Banff School of Advanced Management in 1991. Mr. Sharpe is member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta and the Canadian Society of Exploration Geophysicists.

Keith Turnbull Independent Director Mr. Keith Turnbull recently retired from KPMG where he was a member of the accounting firm’s 12-member national executive management team, and most recently the Office Managing Partner of the practice’s Calgary office. Mr. Turnbull’s distinguished 38-year career in public practice included significant involvement with emerging international energy companies, and covered a broad spectrum of activities, including financial reporting, taxation planning, corporate governance, internal controls, auditing, public disclosure, and other assignments specific to oil and gas companies. Mr. Turnbull received his Chartered Accountancy (CA) designation in 1974