Aurelian

The Board

The Board, which is responsible to shareholders for leading, developing and protecting the interests of the Company, currently comprises the Chairman, four independent Non-executive Directors, three Non-executive Directors representing substantial shareholders and two Executive Directors.

There is a clear division of responsibilities at the head of the Company through the separation of positions of the Chairman, David Prior (to be succeeded by John Conlin after the 2010 AGM) and Rowen Bainbridge, the Chief Executive Officer. The Non-executive Directors are of varied backgrounds and experience all of which is relevant to the management and operations of an upstream oil and gas business and the Board considers them to exercise independent and objective judgment.

The Board retains full and effective control over the Company. The Company holds regular Board Meetings, at least six per year, at which financial and other reports are considered and, where appropriate, voted on. In addition to these regular scheduled meetings, further meetings are arranged when necessary to review strategy, planning, operational and financial performance, risk and capital expenditure and human resource and environmental management. The Board is also responsible for monitoring the activities of the executive management.

The assistance of the Company Secretary is available to the Non-executive Directors who may, if needed, obtain independent professional advice, at the Company's expense, in the execution of their duties.

The Directors have recently established a Nominations Committee in addition to the Audit and Remuneration Committees. Corporate Governance and Health and Safety are dealt with by the full Board at the present time. 

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This presentation has been prepared by Wood Mackenzie for Aurelian Oil & Gas. This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for or otherwise acquire, any securities of the Company or of any subsidiary or subsidiary undertaking of the Company, nor does this presentation constitute or form part of any invitation or inducement to engage in investment activity under section 21 of the Financial Services and Markets Act 2000, nor does it constitute a recommendation regarding securities of the Company, nor shall it or any part of it form the basis of or be relied on in connection with any contract or investment decision. If you are considering engaging in any investment activity, you should seek appropriate independent financial advice and make your own assessment.