Managemenrt

& Directors

Ian E. Gallie, President, CEO and Director:

Mr. Gallie is a businessman and petroleum geologist with over 27 years of oil and gas experience, and has served as manager of private and public companies. Mr. Gallie has served in senior management and as a director of several TSX Venture and TSX companies. Mr. Gallie holds a BSc. (Geology) from the University of British Columbia.

Greg Hall, Chairman:

Mr. Hall is a seasoned financial market professional with 25 years of experience as a broker, senior executive officer and founder of a number of successful brokerage firms. Mr. Hall has also had extensive experience as a board member and executive director for a number of Canadian and American public and private companies. Among other accomplishments, he serves as a director of TSX-listed Silvercorp Metals Inc.

James R. Quillian, Director, Senior Vice President of Engineering and Chief Operating Officer:

Mr. Quillian has over 25 years experience as a petroleum engineer familiar with drilling, completions, facilities and production operations, water-flood design and operation and extensive heavy oil experience. He has been President, Vice President and Director of several TSX and TSX-V listed companies. Mr. Quillian holds a B.Sc. (Petroleum Engineering) from Montana Institute of Science & Technology.

David E. Smiddy, Vice President, Finance, Chief Financial Officer:

Mr. Smiddy has over 25 years experience as a financial and general manager. He has been Chief Financial Officer of several TSX-V listed and private companies in the oil and gas, seismic and other service and manufacturing sectors. Mr. Smiddy is a Chartered Accountant (SA).

Warren Niles, Landman:

Mr. Niles has recently joined Ivory after working as a land consultant in the industry for the past 11 years. He has successfully coordinated and managed projects for various oil and gas companies throughout Alberta and Saskatchewan, covering all manner of petroleum production from shallow gas to oil sands SAGD development.

Bruce W. McBean, Director:

Mr. McBean has been President of Triumph Tubular & Supply, a division of Russel Metals Inc. for over 20 years. Mr. McBean, based in Calgary, has been involved in the Canadian oil and gas service industry for over 30 years.

Brian Bullen, Director:

Mr. Bullen is a commercial lawyer with many years experience in the energy sector, including ten years with TransCanada PipeLines Ltd. He is a member of the Law Society of Upper Canada and Law Society of Alberta. He is the Executive Vice President of WindRiver Power Corporation, a private company developing wind-powered electricity generation and run-of-river hydro with operation in British Columbia, Alberta, and Ontario.