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Canacol Energy Ltd (CNE.TO)

CNE.TO on Toronto Stock Exchange

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Summary

Name Age Since Current Position

Michael Hibberd

61 2009 Independent Chairman of the Board

Charle Gamba

52 2008 President, Chief Executive Officer, Director

Jason Bednar

43 2015 Chief Financial Officer, Independent Director

Ravi Sharma

2015 Chief Operating Officer

Luis Baena

52 2014 Executive Vice President - Business Development Columbia

Kevin Flick

2010 Vice President - Capital Markets and Investor Relations

Diego Alfonso Carvajal

2011 Vice President - New Ventures

Mark Teare

2009 Vice President - Exploration

Anthony Zaidi

2011 Vice President - Business Development, General Counsel, Corporate Secretary

Oswaldo Cisneros

76 2015 Director

Francisco Salazar

55 2015 Director

Alberto Sosa Schlageter

59 2015 Director

Gregory Elliot

58 2012 Independent Director

Stuart Hensman

68 2007 Independent Director

David Winter

59 2009 Independent Director

Biographies

Name Description

Michael Hibberd

Mr. Michael John Hibberd is an Independent Chairman of the Board of Canacol Energy Ltd. Mr. Hibberd is Chairman and Chief Executive Officer of MJH Services Inc., a corporate finance advisory business established in 1995. Chairman of Greenfields Petroleum Corporation and Executive Chairman of Sunshine Oilsands Ltd. Current director of Montana Exploration Corp., PanOrient Energy Corp. and PetroFrontier Corp. Through MJH Services Inc., Mr. Hibberd has been involved in privatization and development projects in North America, Africa, the Middle East, Latin America and Asia. Prior to 1995, Mr. Hibberd spent 12 years in corporate finance with ScotiaMcLeod and was Senior Vice President, Corporate Finance and a Director.

Charle Gamba

Mr. Charle Gamba is President, Chief Executive Officer, Director of Canacol Energy Ltd. Current director of Horizon Petroleum plc, Miramar Hydrocarbons Ltd. and Ikkuma Resources Corp. Past Vice President of Exploration for Occidental Oil and Gas Company ("Occidental") in Colombia. Chief Geologist with Occidental in Ecuador and Chief Geoscientist for Occidental in Qatar. Geologist with over 20 years of multidisciplinary experience in the oil and gas industry in Latin America, Middle East, North America, and South East Asia with Occidental Petroleum Corporation, Alberta Energy Company (EnCana), Canadian Occidental (Nexen), and Imperial Oil.

Jason Bednar

Mr. Jason Bednar serves as Chief Financial Officer and Independent Director of Canacol Energy, Ltd. Mr. Bednar is a Chartered Accountant with more than 18 years of direct professional experience in the financial and regulatory management of oil and gas companies listed on the TSX, TSX Venture Exchange and American Stock Exchange. Mr. Bednar has been the Chief Financial Officer of several international oil and gas exploration companies, most notably the founding Chief Financial Officer of Pan Orient Energy Corp, a South East Asia exploration company, who during his tenure grew organically to operate 15,000 bbl/d and a market cap of $700 million. He has previously sat on the board of directors of several internationally focused E&P companies, including being the past Chairman of Gallic Energy Ltd. Mr. Bednar began his career in the chartered accountancy firm of Brown Smith Owen in 1993 before moving into financial controller roles at oil production companies. Mr. Bednar holds a Bachelor of Commerce degree from the University of Saskatchewan.

Ravi Sharma

Mr. Ravi Sharma is Chief Operating Officer of Canacol Energy Ltd., effective October 1, 2015. Mr. Ravi Sharma has 30 years of oil and natural gas experience in the Americas, Middle East, Russia, Australasia, and Africa. He has held senior management roles at major E&P companies worldwide. He was Head of Production & Operations with Afren Plc., Global Petroleum Engineering Manager for BHP Billiton Petroleum and Worldwide Chief Reservoir Engineer for Occidental. Mr. Sharma holds a B.Sc. and M.Sc. in Mechanical Engineering from the University of Alberta.

Luis Baena

Dr. Luis Baena serves as Executive Vice President - Business Development Columbia of Canacol Energy Ltd. Mr. Baena is Founder and current Executive Vice President, Business Development of Canacol. Former President, Chief Executive Officer and Director of Superview S.A., a Colombian telecommunications company sold to Telmex. Former Colombian representative of BGP, a Chinese seismic company. Mr. Baena holds a Doctor of Medicine, Masters in International Affairs in Finance and Business from Columbia University of New York and Doctoral studies at Nova Southeastern University in International Business Administration.

Kevin Flick

Mr. Kevin Flick is Vice President - Capital Markets and Investor Relations of Canacol Energy Ltd. Mr. Flick has 16 years of multidisciplinary experience within industry and principal investments. Before Canacol, he was VP of Business Development and Investor Relations for TransAtlantic Petroleum, a NYSE-listed company with operations in Turkey. Prior to the oil & gas industry, Mr. Flick was Business Development Officer and VP of Finance for a NASDAQ-listed, Internet company focused in Latin America. He also served as a board member and turnaround advisor to several private companies in the real estate and technology industries. Before moving into industry, Mr. Flick was a Financial Analyst with Hicks, Muse, Tate & Furst, a large, international private equity firm. He began his career as a Financial Analyst with Goldman Sachs and later as a Senior Financial Consultant with Ernst & Young Transaction Advisory Services. He holds a BBA in Finance.

Diego Alfonso Carvajal

Mr. Diego Alfonso Carvajal is Vice President - New Ventures of Canacol Energy Ltd. Mr. Carvajal is a Geologist with over 33 years of experience in E&P activities, mainly in Colombia but also internationally. Prior to joining Canacol, Mr. Carvajal was the Chief Executive Officer of Carrao Energy Ltd., a private oil and gas exploration company he co-founded and co-managed until its acquisition by the Corporation in 2011. He was the former Vice President, Exploration of Ecopetrol (Colombian State Oil Company) being responsible for all exploration activities in the country and overseas. Prior to that, Mr. Carvajal worked for TEXACO and BP, both in Colombia and abroad. Mr. Carvajal has been President of the Colombian Association of Petroleum Geologists and Geophysicists (affiliated to AAPG) and a Professor at the Graduate School of Geoscience of the National University of Colombia.

Mark Teare

Mr. Mark Teare is Vice President - Exploration of Canacol Energy Ltd. Mr. Teare has 30 years of experience with a number of senior international Canadian energy companies in Brazil, Ecuador, Colombia, Argentina, Australia, and Canada. Over the nine-year period prior to joining Canacol, Mr. Teare held a series of senior management roles at EnCana Corporation including Country Lead for Brazil, and Vice President of Exploration and Joint Ventures in Ecuador. Mr. Teare also held a variety of lead technical roles at Alberta Energy Company in Australia, and Home Oil Company in Argentina and Canada. Mr. Teare holds a Master of Science degree in Geology from McGill University, and is based in the Corporation's head office in Calgary.

Anthony Zaidi

Mr. Anthony Zaidi serves as Vice President - Business Development, General Counsel, Corporate Secretary of Canacol Energy Ltd. Mr. Zaidi is a lawyer and businessman with significant experience in corporate finance and in the mining and energy sector in Colombia. Prior to joining Canacol, Mr. Zaidi was the President and General Counsel of Carrao Energy Ltd., a private oil and gas exploration company he co-founded and co-managed until its acquisition by the Corporation in 2011. Prior to Carrao, he had been an officer or director of several private and public companies, including Integral Oil Services, Pacific Rubiales Energy, Petromagdalena Energy, Medoro Resources and others, as well as a securities lawyer at Blake, Cassels & Graydon LLP. Mr. Zaidi holds a Juris Doctor degree from the University of Toronto as well as a Bachelor of Commerce (Finance) degree from McGill University.

Oswaldo Cisneros

Mr. Oswaldo J. Cisneros serves as Director of the Company. Mr. Cisneros is the Principal of Cavengas Holdings S.R.L. and President of Corporación Digitel, a telecom company, Maritime Contractors de Venezuela, an oil drilling services company, C.A. Fábrica Nacional de Vidrio, 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.

Francisco Salazar

Mr. Francisco Diaz Salazar is Director of the Company. He is Managing Partner at Evolvere Capital, a Private Equity firm that manages various portfolio companies in Colombia and Latin America. Mr. Diaz also serves on the board of several portfolio and publicly traded companies in Latin America. From 2004 to 2011, Mr. Diaz was President and CEO of Organización 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 to 2003) where he held various executive positions among them President of the Global Food Ingredients Division, Corporate Vice President of Global Strategy in Chicago, IL and Vice President and General Manager for Latin America in Buenos Aires, Argentina. Mr. Diaz received a Bachelor of Science degree 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.

Alberto Sosa Schlageter

Mr. Alberto Jose Sosa Schlageter serves as Director of the Company. Mr. Sosa Schlageter is Senior Advisor to the President of Corporación Digitel, a telecom company, and Chairman of Ceramica Carabobo, a manufacturing company operating in Venezuela. Mr. Sosa Schlageter also serves as a director of CAPCA, a sugary refinery and of C.A. Fábrica Nacional de Vidrio, 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.

Gregory Elliot

Mr. Gregory D. Elliott is an Independent Director of Canacol Energy Ltd. President and Founder of Workstrings International, a Superior Energy Services, Inc. (NYSESPN) company. Mr. Elliott started his career in 1981 at Chevron serving in various engineering positions both Domestic US and International through 1996. He served as a well test Engineer, frequently traveling to Africa, Europe and Southeast Asia before joining Chevron's International Drilling team in 1989 where he planned and drilled wells in Africa, Europe, Southeast Asia, Kazakhstan and South America. Mr. Elliott continues to manage and grow Workstrings International, currently the second largest oilfield rental tool company in the world. Mr. Elliott was a Charter member of Geoproduction Oil & Gas Company, founded in 2001. Mr. Elliott earned his degree in Petroleum Engineering in 1981 from Louisiana State University.

Stuart Hensman

Mr. Stuart P. Hensman is an Independent Director of Canacol Energy Ltd. Mr. Hensman is Chairman of the Board of Governors of CI Funds and a director of RIFCO Inc. Prior to 2003, Mr. Hensman was the Chairman and Chief Executive Officer of Scotia Capital (USA) Inc. Mr. Hensman was a Managing Director (Institutional Equities) at Scotia Capital Inc. (London) from 1987 to 1999. Prior to this, he held a number of analytical and portfolio management positions at Sun Life Assurance Co. of Canada from 1981 to 1986. Mr. Hensman holds a Bachelor of Arts degree from the University of Winnipeg and a Masters of Science from the Loughborough University.

David Winter

Dr. David A. Winter is an Independent Director of Canacol Energy Ltd. Dr. Winter is Chief Executive Officer and a director of each of Miramar Hydrocarbons Ltd. and Horizon Petroleum plc. He was a co-founder of the Corporation. Dr. Winter brings over 30 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. Dr. Winter holds a Bachelor of Science degree, a Masters of Science degree and a Doctorate in Geology from London and Edinburgh Universities.

Basic Compensation

Name Fiscal Year Total

Michael Hibberd

92,000

Charle Gamba

2,638,980

Jason Bednar

1,551,380

Ravi Sharma

1,736,280

Luis Baena

1,684,760

Kevin Flick

752,623

Diego Alfonso Carvajal

995,870

Mark Teare

1,407,370

Anthony Zaidi

1,742,240

Oswaldo Cisneros

41,365

Francisco Salazar

87,939

Alberto Sosa Schlageter

38,000

Gregory Elliot

85,939

Stuart Hensman

60,000

David Winter

48,000
As Of  31 Dec 2016