The Panther principals consist of individuals with extensive experience in the natural gas business. This group is deeply involved in the natural gas industry and currently conducts its business through distinct, but related, companies.  Included in the list of companies is NGC Group, Inc., an industry consulting firm.

 The principals of Panther consist of:

 W. Randall Blank – A Chemical Engineer from Texas A&M, Mr. Blank has experience with natural gas marketing, gas processing, gas pipeline and gas plant operations in both the U.S. and Canada. As Executive Vice-president of Rockland Pipeline Company, Mr. Blank oversaw the sale of over $400 million of Rockland’s and its sister company, American Cometra’s assets. Mr. Blank joined NGC Group in 1997 and has been instrumental in the development of Panther Pipeline’s asset acquisition and marketing business.

 Luis M. Guzman – As a managing attorney with Valero Energy Corporation and El Paso Natural Gas Company, Mr. Guzman has experience in contracting for the exploration, purchase, sale and transportation of natural gas. A graduate of the University of Texas and the University of Michigan School of Law, Mr. Guzman also has extensive experience with state and federal energy regulation. Mr. Guzman was a founder of NGC in 1993 and of Panther Pipeline in 1995.

 Jeffrey H. Parish – As a previous officer of Valero Energy Corporation, Mr. Parish has extensive experience in the areas of state and national energy regulation, gas contracting, business development, strategic planning and contract dispute resolution. A graduate of Stephen F. Austin University, Mr. Parish served as Vice-President at Valero and was appointed by the Chairman of the Railroad Commission to serve on the State of Texas Energy Policy Planning Committee. Along with Mr. Guzman, Mr. Parish formed NGC in 1993 and with the addition of Mr. Shipper formed Panther Pipeline in 1995.

 Jeff R. Shipper – Mr. Shipper, a Licensed Professional Engineer, has experience in reserve determinations, gas contracting, including dispute resolution, and gas pipeline operations. After graduation from the University of Texas, Mr. Shipper worked in the engineering departments of Tesoro Petroleum and Valero Energy Corporation. Mr. Shipper joined NGC in 1994 and was instrumental in the development of Panther Pipeline in 1995. Mr. Shipper was also a founder, along with Mr. Blank, Mr. Parish, and Mr. Guzman of Panther Energy Services, Inc. in 1997 and Panther Natural Gas Company also in 1997.

 James C. Strickland – Mr. Strickland has experience in the industry with focus in gas marketing and supply, contract administration, gas control and gas measurement for Valero Energy Corporation, Amoco Energy Trading and Mitchell Gas Services, L.P. Mr. Strickland is well known and respected throughout the natural gas industry and has served as President of the Houston Energy Association. Mr. Strickland joined the NGC/Panther Management team in February 1999 as president of Panther Energy Services, Inc.