Board of Directors

Michael Hibberd, BA, MBA, LLB

Chairman

For over 21 years, Mr. Hibberd has been Chairman and CEO of MJH Services, a corporate finance advisory firm. Through MJH, Mr. Hibberd has been involved in numerous privatization and development projects in North America, Africa, the Middle East, Latin America and Asia. From 1983-1995, he was Senior Vice President and Director of Corporate Finance for ScotiaMcLeod. He is currently Chairman of Greenfields Petroleum, Vice Chairman of Sunshine Oilsands and serves as board member of Montana Exploration, Pan Orient Energy and PetroFrontier. Formerly, he was Chairman of Heritage Oil Plc and Heritage Oil Corporation; and former director of Avalite, Challenger Energy, Deer Creek Energy, Iteration Energy, Rally Energy, Sagres Energy, Skope Energy and Zapata Energy.

Charle Gamba

President, CEO & Director

Mr. Gamba founded Canacol Energy Ltd. in 2008. He has held a variety of technical and management roles with major and mid-sized international oil companies, with the majority of his professional career focused on E&P in South America. Prior to creating Canacol, Mr. Gamba was Vice President of Exploration for Occidental Oil & Gas Company based in Bogota, Colombia. In his 8 years with Occidental, he has lived and worked in Ecuador, Qatar, Colombia, and the United States, working in a variety of technical and management roles. Mr. Gamba has also worked for Alberta Energy Company in Argentina and Ecuador, and for Canadian Occidental in Indonesia, Australia, and Canada. He started his career as a geologist with Imperial Oil in Calgary, and holds an MSc and PhD in Geology.

Stuart Hensman, BSc, MSc

Independent Director

Mr. Hensman is Chairman of the Board of Governers of CI Funds, Lead Director of Creststreet Mutual Funds Ltd. and a Director of Rifco Inc. and Ria Resources. Prior to 2003, Mr. Hensman was Chairman & CEO of Scotia Capital (USA) Inc. Mr. Hensman was a Managing Director at Scotia Capital Inc. (London) from 1987 to 1989. Prior to this, he held a number of analytical and portfolio management positions at the Sun Life Assurance Co. of Canada from 1981 to 1986. Mr. Hensman holds a BA from the University of Winnipeg and a MSc from Loughborough University in the United Kingdom.

Dr. David Winter, BSc, MSc, PhD

Independent Director

Dr. Winter holds Bachelor of Science, Master of Science and PhD degrees in Geology from London and Edinburgh Universities. He was a co-founder of Canacol Energy Ltd. Dr. Winter brings 27 years of international experience in a variety of technical, management and leadership roles working in Latin America, Middle East, Southeast Asia and the UK North Sea. His experience was gained working at British Petroleum, Sun Oil, Canadian Occidental (now Nexen), Alberta Energy Company (now EnCana), Calvalley Petroleum and Excelsior Energy Limited.

Greg Elliott

Independent Director

Started his career in 1981 at Chevron serving in various drilling engineering related assignments in the U.S. He moved to their international headquarters in 1986, located in San Ramon, California. He served as a well test Engineer, frequently traveling to Africa, Europe and Southeast Asia until 1989. He then joined Chevron's International Drilling team planning and drilling wells in the above regions plus Kazakhstan and South America.

Mr. Elliott was a Charter member of Geoproduction Oil and Gas Company, L.L.C. Geoproduction Oil and Gas was founded in 2001. Mr. Elliott received a degree in Petroleum Engineering from Louisiana State University (LSU) in 1981.

Francisco Diaz

Independent Director

Mr. Diaz brings broad experience in industrial and consumer sectors, both locally within Colombia and internationally. From 2004 -2011 he was President and CEO of Organizacion Corona, one of the largest private groups in Colombia. Prior to his association with Corona, he was with Monsanto Company in St. Louis, MO (1991-2003) where he held various executive positions among them President of the Global Food Ingredients Division, Corporate Vice President of Global Strategy, IL and Vice President and General Manager for Latin America in Buenos Aires, Argentina.

Mr. Diaz received a BSc in Chemical Engineering from Northeastern University in Boston, MA and has a Master of Science in Business Management from Arthur D. Little School of Management in Cambridge, MA. He is also a graduate of the Advanced Executive Management Program from J. L. Kellogg Graduate School of Management of Northwestern University.

Oswaldo Cisneros

Independent Director

Mr. Cisneros is the principal of Cavengas and currently serves as the President of Corporación Digitel, a telecom company, Maritime Contractors de Venezuela, an oil drilling services company, Fabrica Nacional de Vidrios, a glass bottle manufacturer, and Central Azucarero Portuguesa, a sugar mill factory. Previously, Mr. Cisneros served as the President of Pepsi Cola Venezuela and of Telcel Celular, C.A., a partner of Bellsouth International. He currently serves as a director of Harvest Natural Resources Inc., an NYSE-listed energy company engaged in the acquisition, development, production and disposition of oil and natural gas properties.

Alberto Jose Sosa Schlageter

Independent Director

Mr. Sosa Schlageter is currently the Chief Executive Officer of Corporación Digitel, a telecom company, and serves as the chairman of Ceramica Carabobo, a manufacturing company operating in Venezuela. He also serves as a director of CAPCA, a sugary refinery and of Fabrica Nacional de Vidrios, a glass bottle manufacturer. Mr. Sosa Schlageter received a degree in Business Administration in 1983 from Ohio Wesleyan University in Ohio, USA and received an MBA from the University of Denver in Colorado, USA.