Board of Directors

Kevin Lyon, Non-Executive Chairman
Kevin qualified as a Chartered Accountant in 1985 and after two years in merchant banking, joined the private equity and venture capital business, 3i plc, in 1988. While with 3i, Kevin built and developed several successful investment teams across the UK and led transactions in a wide range of sectors, many leading to profitable exits or successful stock exchange listings. He left in 2004 to build a portfolio of non-executive interests and is currently chairman of Mono Global Group Limited, an infrastructure support services to the telecoms sector and of Wyndeham Press Group Limited, a printing and communications group; deputy chairman of RBG Limited, the leading provider to the oil industry of fabric maintenance and construction support and a Non-executive director of health and fitness club operator David Lloyd. Kevin was a non-executive director of Booker plc, a wholesale cash and carry business, when it listed on AIM in June 2007 and was formerly chairman of the Audit Committee and the Remuneration Committee for Valiant plc.

Peter Buchanan, Chief Executive
Peter has had a career spanning two decades in the oil industry. After a Shell sponsored MSc at Imperial College, Peter completed a PhD in structural geology with BP. This was followed by various senior technical and managerial roles with companies such as CogniSeis Development (now Paradigm Geophysical Limited,) Oil Search Limited and Premier Oil plc. Much of this time was spent in South East Asia (including Papua New Guinea and Myanmar) where he was involved in several significant oil and gas discoveries. Immediately prior to founding the Company in 2004, Peter spent five years as a Director on the oil & gas team at The Royal Bank of Scotland with specific responsibility for North Sea structured finance and was involved in several hundred million pounds of debt, mezzanine and equity financings to independent oil and gas companies. In 2010 Peter was elected to the role of chairman of Brindex, the Association of British Independent Oil Exploration Companies.

Mark Lewis, Chief Financial Officer
Mark has a degree in engineering, economics and management from Oxford University. He spent the first 12 years of his career in strategy consulting, working at board level with a wide variety of international businesses on corporate and business strategy, M&A and business process reengineering, the last four of which as a director. He then joined RAC plc as head of corporate strategy, before becoming finance and commercial director for RAC’s largest division, responsible for a varied collection of subsidiaries, mostly providing commercial vehicle services, with pound sterling 800 million of sales. Following the sale of RAC plc to Aviva, he managed the restructuring and disposal of this division in a series of transactions, before moving to Element Six, De Beers’s independently managed industrial diamonds joint venture, as CFO. He is also a member of the governing council of the Chartered Institute of Management Accountants. He joined Valiant in April 2010.

Sandy Shaw, Director Legal, Commercial & Business Services
Sandy has hands-on experience with over 30 years in the oil and gas industry, through senior positions held amongst executive teams while acting as group legal counsel and commercial director for a number of companies including Consort Resources, LASMO, Esso Petroleum, Marathon Oil and Mobil. She has extensive oil and gas M&A experience and has handled numerous material private equity subscriptions and led a pound sterling 200 million trade sale through to final negotiations. She has worked as a consultant to several oil and gas companies and to two UK law firms. Sandy was a founder of the Company and served as a non-executive director for four years before joining the Company full time in August 2008.

Paul Mann, Chief Operating Officer
Paul is a Chartered Engineer with more than 30 years experience in the international oil industry. He has spent the majority of his career with Royal Dutch Shell, joining Shell Chemicals in the UK for several years before moving into the E&P sector in 1981. Paul has completed assignments in Europe, the Middle East and Asia Pacific, working initially in Project and Facilities Engineering, and subsequently holding a range of senior technical, business and managerial roles. These have included HSE Manager for Shell’s EP business, Regional Business Adviser for the Middle East, Vice President for Technical and Operational Excellence and, most recently, Vice President Production for Shell E&P Asia Pacific. Paul Joined Valiant in March 2011.

Michael Bonte-Friedheim, Non-Executive Director
Michael has spent his career working in the energy sector. He is currently co-CEO of NextEnergy Capital, a merchant bank focused on the renewable energy sector. Up until November 2011, Michael was Chairman and subsequently CEO of Mediterranean Oil and Gas plc, a UK AIM-listed company focused on E&P opportunities in and around the Mediterranean. Up to August 2006, he was a Managing Director in the Energy & Power Team at Goldman Sachs International. Michael is chairman of the Audit Committee.

David Blackwood, Non-Executive Director
In a 35 year career in Oil and Gas, Dave worked in a variety of roles with Schlumberger in the North Sea, Oman and Kuwait, followed by subsequent roles within BP Exploration which included Business Unit Leader positions in the North Sea and Alaska, and worldwide Technology Vice President for Projects and Engineering. In August 2000, Dave became Business Unit Leader for BP’s Gulf of Mexico Deepwater Developments before taking up the position as head of BP’s North Sea business in July 2003. He retired from BP in 2009. He was previously on the Board of the UK Offshore Operators Association (UKOOA), and on PILOT, the Government – Industry forum established to sustain a competitive UK Oil and Gas industry. In addition he was the first joint chairman of Oil & Gas UK, the new representative body for the UK offshore oil and gas industry. In 2006, he was awarded the CBE for his contribution to the UK oil and gas industry. Dave is chairman of the Remuneration Committee.

Jannik Lindbæk, Non-Executive Director
Jannik’s career spans 35 years during which he has held a number of high profile roles in both the energy and finance sectors. Jannik’s career began in the finance sector where, among other roles, he served as the CEO of Storebrand Insurance, Chairman of Den norske Bank and Executive Vice President of the IFC, part of the World Bank Group. Following a period as Chairmain of Saga Petroleum AS, in 2003, Jannik presided as Chairman of Statoil ASA until its merger with NorskeHydro in 2007. Most recently, Jannik was Chairman of Sagex Petroleum ASA which was acquired by Valiant in July 2011. Mr Lindbæk is currently on the boards of Wikborg Management AS, Setred AS, Gearbulk Holding (Ltd) and AL Industrier AS. Mr Lindbæk also acts as an adviser to the East African Development Bank, Nordic Investment Bank and is a founding member and former Chairman of Transparency International Norway. Jannik is a graduate of the Norwegian School of Economics and Business Administration and received a Fulbright scholarship to study at the University of Kansas.

Gordon Stollery, PRESS RELEASE - 13 December 2011
Valiant Petroleum plc (Valiant or the Company) announces with great sadness that Mr Gordon Stollery, a Non-Executive Director of the Company, passed away suddenly on 12 December 2011. Gordon served on Valiant’s Board for over six years including as Non-Executive Chairman until June 2009.

Peter Buchanan, CEO, commented:

“On behalf of the board and the entire Company, I would like to extend our heartfelt condolences to Gordon’s family and friends at this difficult time. Gordon made a significant contribution towards helping Valiant realise its potential from the Company’s formative stages through to the present in his capacity as Chairman and as a founding Director. In both a professional and personal perspective I have personally benefited from Gordon’s wealth of experience and boundless enthusiasm and he will be greatly missed by all those who knew him.”