Steven Sharpe: Interim President & Chief Executive Officer

Mr. Sharpe is currently Managing Director of The EmBeSa Corporation, a private consultancy dealing primarily with corporate restructuring and business strategy. Previously, Mr. Sharpe was Chairman of Longview Oil Corp. from April 2010 and Interim CEO from February 2014 until its acquisition by Surge Energy in June 2014, a director of Advantage from 2001 and Non-Executive Chairman from 2005 until February 2014, a director and Chair of the Special Committee of the Board of Renegade Petroleum Ltd. from March 2013-January 2014 and a director and CEO of C.A. Bancorp. Inc. until March 2013. From October 2009 to March 2010, Mr. Sharpe was Chairman and Chief Executive Officer of Prime Restaurants Royalty Income Fund. Until July 2009, he was Senior Advisor to Blair Franklin Capital Partners, Inc., a Toronto-based investment bank which he co-founded in May 2003. Prior to that, Mr. Sharpe was Managing Partner of Blair Franklin, from its inception. Before then, he was Managing Director of The EBS Corporation, a management and strategic consulting firm. Prior to EBS, Mr. Sharpe was Executive Vice President of The Kroll-O'Gara Company ("Kroll"), New York. He was a partner with Davies, Ward & Beck in Toronto until 1998. Mr. Sharpe is a lawyer by training, graduating from Osgoode Hall Law School in 1977.

Thomas Love: Vice President Finance and Chief Financial Officer

Mr. Love is a Chartered Accountant with 36 years of experience in the oil and gas industry. Prior to being the Chief Financial Officer and a Director of Online Energy Inc., Mr. Love was the Chairman and Chief Financial Officer of Trimox Energy Inc. and Moxie Exploration Ltd. and President and Chief Executive Officer of Moxie Petroleum Ltd. Prior thereto, Mr. Love was Vice-President, Finance, Chief Financial Officer and Director of Westward Energy Ltd. Mr. Love articled with Clarkson, Gordon & Co. (now Ernst & Young).

Steve Dabner: Vice President, Exploration & New Ventures

Mr. Dabner has over 30 years of experience in the oil and gas industry. Prior to co-founding Online Energy Inc. in 2009, Mr. Dabner was President and Chief Executive Officer of Trimox Energy Inc. and Moxie Exploration Ltd. and Vice-President, Exploration and Chief Financial Officer of Moxie Petroleum Ltd. Prior thereto he held positions of increasing responsibility with Cimarron Petroleum Ltd. and Home Oil Company Ltd.

Robert Stanton: Vice President, Operations

Mr. Stanton is a Professional Engineer who has acquired over 30 years of well-rounded engineering and operational experience. Previously, Mr. Stanton was Vice-President, Operations at Online Energy Inc. . Prior thereto, Mr. Stanton worked for a number of energy companies including, Oiltec Resources Ltd., Pinnacle Resources Ltd., Jordan Petroleum Ltd., Transwest Energy Inc., Triton Canada Resources Ltd., Canadian Worldwide Energy Ltd., Petro-Canada Inc., and Vice-President, Engineering and Operations, Result Energy Inc.

Stephen Kapusta: Vice President, Engineering

Stephen Kapusta P.Eng. has joined Madalena as Head of Engineering. Prior, Mr Kapusta has consulted with the Company on mergers, acquisitions and operations focused in Argentina since February 2014. He brings over 30 years of diverse experience in Operations, Reservoir Engineering, Mergers & Acquisitions and Management. He has been actively involved in the planning and execution of complex operations in unconventional reservoirs over the past 15 years. Mr. Kapusta will be focusing his efforts on working with the team in Argentina to manage the conventional assets and unlock the potential in the unconventional asset base. Previously, Mr. Kapusta was President and Chief Executive Officer of Canext Energy Ltd. and its predecessor Canex Energy Inc. from May 2002 to April 2010. He was a Director of Canext Energy Ltd. from June 2006 to April 2010. Prior thereto he was a Director of Canex Energy from May 2002 to June 2006. In addition, he also served as a Director of Trimox Energy Inc. from September 2004 to June 2007. Mr Kapusta was Vice President of Resource Development and Marketing at Star Oil and Gas Ltd. from 1993 to 2001. Prior thereto he worked in various field, production and reservoir engineering assignments for Unocal Canada Ltd. (1988 - 1993) and Texaco Canada Ltd. (1985 - 1988). Mr. Kapusta is a Professional Engineer and graduated with a BSc. in Mechanical Engineering from the University of Calgary.

Ruy Riavitz: Country Manager, Argentina

Mr. Riavitz is a Chemical Engineer with over 16 years of experience, both technical and managerial, in the oil industry in Argentina. He started his career with YPF as a reservoir engineer. Subsequently, he joined PA Consulting Group evaluating energy assets in the US and South America. He then worked at HIDENESA, Neuquen's state-owned oil company and the predecessor to G&P, forming the first joint ventures to explore in the province. Mr. Riavitz joined Madalena Austral in 2009 as Operations Manager and become the Country Manager in January 2012.