Afex's Head of Subsurface Exploration, Mr Richard Bray presents an update on Afex to the 17th Africa Upstream Conference, Cape Town, November 2010

AFEX’s business model includes minimising administrative overhead and as such the Company is run by a compact management team assisted by the directors, shareholders and key external consultants regularly retained by the Company. In keeping with its growth, AFEX is in the process of introducing several recognised oil and gas professionals to its Board of Directors in the near future.The current composition of management and the Board is:

Vernon Cassin

Non-Executive Chairman

Mr.Cassin joined AFEX’s Board at foundation. He is a lawyer (JD Harvard 1977) with a 30 year legal career in the Middle East, specializing in finance, corporate law and matters relating to the oil and gas industry. He served as a Partner with the international law firm of Jones Day where he was Managing Partner of the firm’s practice in the Kingdom of Saudi Arabia. Mr.Cassin was a Director of Terra Energy Services when AFEX was spun off as a separate company in 2006.

Richard Bray

Head of Subsurface Exploration

Mr. Bray is a petroleum geologist with over 30 years of experience in the oil and gas exploration and production industry. He has concentrated his past fifteen years on exploration projects in West Africa. He started working with Afex in 2007 after a previous career that included periods with Seismograph Services Ltd., Exploration Logging Inc., Gaffney Cline and Associates, Exploration Consultants Ltd. (ECL), Geotrack International, RPS Energy Ltd and a lectureship in Petroleum Geology in Oxford, England.