Douglas R. Martin

Mr. Martin was appointed to the board of Canoro on June 29, 2004. He has been President of Charles Avenue Capital Corp., a private merchant banking company, since April 2000. From 1993 until 2000, Mr. Martin was Chairman and Chief Financial Officer of Pursuit Resources Corp., a public oil and gas corporation that was acquired by EnerMark Income Fund in April 2000. From 1972 until 1993, Mr. Martin held positions of increasing importance with N.M. Davis Corp., Dome Petroleum Ltd. and Interhome Energy Inc. (now Enbridge Inc.), and was the Senior Vice President and Chief Financial Officer of Coho Energy from 1989 until 1993. Mr. Martin graduated from the University of Toronto in 1966 with a B.A. in Political Science, and received his Chartered Accountant designation from the Ontario Institute of Chartered Accountants in 1969. He also graduated with Honours from York University in 1972 with an MBA in Finance. Mr. Martin currently serves on the board of directors of Stars Aviation Inc., Rival Energy, Rock Creek Resources Inc. and is chairman of Enerplus Resource Fund.

Robert S. Wynne

On August 27, 2009 Robert S. Wynne was appointed President and Chief Executive Officer of the company. Mr. Wynne holds a BSc. in Mechanical Engineering and a Masters of Business Administration. A Calgary resident, he is a senior level international investment banker and corporate executive. Mr. Wynne has over 28 years experience in the oil and gas industry and investment banking. He was previously Chief Financial Officer of Pan-Ocean Energy Corporation Limited, formerly a TSX-listed international and gas company.

The Audit Committee is principally responsible for reviewing financial statements, press releases and Management’s Discussion & Analysis. The Committee is also responsible for recommending the external auditors, establishing their compensation, overseeing their work and approving non-audit services. The Committee endeavors to ensure that internal controls are satisfactory; that the Corporation’s financial reporting procedures are sound; and that there is proper communication with external auditors with respect to financial matters of the Corporation.