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Obsidian Energy Ltd (OBE.TO)

OBE.TO on Toronto Stock Exchange

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Summary

Name Age Since Current Position

David French

47 2016 President, Chief Executive Officer, Director

David Hendry

2017 Chief Financial Officer

Tony Berthelet

Vice President - Development & Commercial

Andrew Sweerts

2017 Vice President - Production & Technical Services

Mark Hodgson

2017 Vice President - Business Development and Commercial

George Brookman

70 2005 Independent Director

John Brydson

64 2014 Independent Director

Raymond Crossley

58 2015 Independent Director

William Friley

65 2015 Independent Director

Maureen Jackson

59 2016 Independent Director

Jay Thornton

59 2013 Independent Director

Biographies

Name Description

David French

Mr. David Lawrence French serves as President, Chief Executive Officer, Director of the Company. Mr. French, most recently served as President and CEO of Bankers Petroleum Ltd., a Calgary-based publicly-traded oil and gas company with operations in Southeastern Europe. Mr. French successfully led the operational and commercial growth of the enterprise over his tenure. Mr. French has worked a wide range of reservoir rock types, and primary, secondary and tertiary development throughout Canada, the lower 48 United States and Europe. Prior to joining Bankers in 2013, Mr. French held several executive roles at Apache Corporation including Regional Production Manager for the western Canadian business, and Global Vice President of Business Development. Earlier in his career Mr. French worked for McKinsey & Co. in energy consulting and built his career in the Permian Basin for Amoco Production Company (now BP). Mr. French holds a Bachelor's degree in mechanical engineering from Rice University and an MBA from Harvard Business School.

David Hendry

Mr. David Warren Hendry serves as Chief Financial Officer of Penn West Petroleum Ltd. since January 2017. Mr. Hendry is a Chartered Accountant with over 25 years of finance experience. Joining Penn West in April 2015 as Vice President of Finance, he moved into the CFO position in January 2017. Prior to joining Penn West, he served as a finance Vice President at Talisman Energy Inc. where he also worked overseas for nine years in the Norway and U.K. North Sea offices. Mr. Hendry started his career working nine years in public accounting, largely at PricewaterhouseCoopers.

Tony Berthelet

Mr. Tony Berthelet serves as Vice President - Development & Commercial of the Company. Mr. Berthelet was appointed Vice President, Cardium in September 2015 and then Vice President, Development & Production for the entire company in June 2016. He originally joined Penn West as General Manager, Cardium in December 2014. He has 19 years of energy industry experience in onshore North America as well as several international projects in South America, Russia and the Middle East. He previously held a variety of technical and management positons with Taqa North, Apache Canada, Nexen and Schlumberger. He is a Professional Engineer with a degree in Geological Engineering from the University of Saskatchewan and is a practicing member of the Association of Professional Engineers, Geologists, and Geophysicists of Alberta.

Andrew Sweerts

Mr. Andrew Francis Sweerts serves as a Vice President - Production & Technical Services of the Company. Mr. Sweerts is the Vice President, Production and Technical Services for Penn West. He joined Penn West in June of 2014, and held the position of VP, Business Development and Commercial until February of 2017. Mr. Sweerts has over 25 years’ experience in the oil and gas industry, leading A&D and trading activities, directing projects and overseeing joint venture partnerships. Prior to joining the Company in June of 2014, Mr. Sweerts held a number of senior roles within Marathon Oil Canada Corp. including Vice President, Operations and Engineering and Vice President, JV Operations and Marketing. Earlier in his career, he held a variety of technical and commercial positions with successive levels of responsibility at Western Oil Sands LP and Suncor Energy. Mr. Sweerts has a Bachelor of Science degree in Chemical Engineering from the University of Waterloo, and a Master in Business Administration from Wilfred Laurier University.

Mark Hodgson

Mr. Mark Hodgson serves as Vice President - Business Development and Commercial of the Company. Mr. Hodgson brings over 16 years' experience in the industry most recently leading Bankers Petroleum technical and commercial expansion efforts in Eastern Europe. Prior to New Ventures, Mr. Hodgson held positions managing service functions of Legal, Crude Marketing, Stakeholder Engagement, Supply Chain, Investor Relations, and Corporate Planning. Prior to Bankers Petroleum, he worked five years each in investment banking with Tristone Capital in London, and on Wall Street in New York with Group One, a trading house. Mr. Hodsgon holds a degree in Finance from the Wharton school at the University of Pennsylvania.

George Brookman

Mr. George H. Brookman serves as Independent Director of Penn West Petroleum Ltd. since August 3, 2005. Since 1984, Mr. Brookman has been the Chief Executive Officer of West Canadian Industries Group Inc., a digital printing and document management company. In 1984, Mr. Brookman acquired West Canadian Industries Group and under his leadership, it has become one of Canada's largest privately held digital printing and imaging service companies. He is also a partner in Vistek, a major retail camera operation with stores in Toronto, Ottawa, Mississauga, Calgary and Edmonton. He was also the founder of Commonwealth Legal Inc., Canada's only national litigation support services company. Prior to acquiring West Canadian Industries Group, Mr. Brookman was involved for many years in the commercial development industry in the Real Estate Group at Manulife and later as the Vice-President of ATCO Development Ltd. In addition to his over 35 years of business experience, Mr. Brookman has been active in the community and is currently a member of the Boards of each of Travel Alberta, The Calgary Flames Foundation and the Calgary Stampede Foundation. He is a past Chairman of the Board for Tourism Calgary and past President and Chairman of the Calgary Exhibition and Stampede. Mr. Brookman is also a member of the Institute of Corporate Directors.

John Brydson

Mr. John Brydson serves as Independent Director of Penn West Petroleum Ltd. Mr. Brydson has over 30 years of experience in the financial sector and has occupied senior roles in both major investment and commercial banks. Since 2012, Mr. Brydson has been a private investor. From 2010 until the end of 2012, he was Chairman of a small full-service management consulting firm, Hestan Consulting Group (“HCG”), which he founded. Prior to HCG, Mr. Brydson was a Managing Director with Credit Suisse First Boston, now Credit Suisse (“CS”), from 1995 until 2009, where he was in charge of the Multi-Product Event Trading group. He was also a Managing Director with Lehman Brothers in a similar function from 1983 until he joined CS. The early years of his career were spent as an equity analyst before joining Chase Manhattan Bank (“Chase”) in London in 1977. He transferred to the head office in New York in 1980 where he became a Vice President in the Project Finance Group, specializing in international projects in the energy, mining and metals sectors. He left Chase to join Lehman Brothers in 1983. Mr. Brydson holds an Honors Degree in Economics from Heriot-Watt University in Edinburgh, Scotland. He served over 10 years as the President and a Board Member of The American Friends of Heriot-Watt University, a charitable organization, and remains on its Board.

Raymond Crossley

Mr. Raymond D. Crossley serves as Independent Director of Penn West Petroleum Ltd. Mr. Crossley is a corporate director. He is a member of the board of Pure Technologies Ltd. and the Canada West Foundation. He retired in 2015 from the accounting firm of PricewaterhouseCoopers (“PwC”) after serving for more than 33 years. Mr. Crossley served as an elected member of the Partnership Board (PwC’s governing body), from 2001-2005. From 2005-2011, Mr. Crossley was the Managing Partner of PwC’s Calgary office, and from 2011-2013 was Managing Partner, Western Canada. In this role, he led PwC’s market activities in Western Canada. Mr. Crossley holds the ICD.D designation from the Institute of Corporate Directors and is a member of the Institute of Chartered Professional Accountants of Alberta. He graduated from the University of Western Ontario with a degree in Economics and Political Science.

William Friley

Mr. William A. Friley Jr. serves as Independent Director of the Company. Mr. Friley is President and CEO of Telluride Oil and Gas Ltd. and Skyeland Oils Ltd. He is on the board of directors of OSUM Oil Sands Corp., a private Calgary-based oil sands exploration and production company, as well as Titan Energy Services and Advanced Flow Technologies, both private Calgary-based oilfield services companies. Mr. Friley founded and was President, CEO and Chairman of Triumph Energy Corp. (“Triumph”), a TSX-listed oil and gas exploration company from 1993-2001, when Triumph was acquired by Baytex Energy Ltd. He is past Chair of the Canadian Association of Petroleum Producers, as well as a past director of a number of oil and gas companies, including Mustang Resources Ltd., Silverstar Well Servicing Inc., Viking Energy Trust and Harvest Energy Trust. He is a past Chairman of the Regional Board of the Nature Conservancy of Canada (“NCC”), Canada’s largest land conservation organization, and continues to serve on the board of NCC’s Alberta Region. Mr. Friley graduated with a degree in Geology from the University of Colorado in 1978 and he has explored for and produced oil and gas throughout Western Canada for more than 35 years.

Maureen Jackson

Ms. Maureen Cormier Jackson serves as Independent Director of the Company. Ms. Cormier Jackson is a former Senior Vice President, Chief Process and Information Officer at Suncor, from 2011 to 2013, with a broad range of experiences including Environment Health & Safety, Finance, Major Projects, Business Development and Energy Management in her 30 year career. Currently on the Dean’s Advisory Board of Dean of Medicine and the University of Calgary and previous director of various private companies. She holds a Bachelor of Commerce, Memorial University, St. John’s, a Chartered Professional Accountant (CPA, CGA) and an Institute of Corporate Directors certification (ICD.D).

Jay Thornton

Mr. Jay W. Thornton serves as Independent Director of Penn West Petroleum Ltd. Mr. Thornton is a partner of Novo Investment Group Ltd. a Calgary-based investment management company. Mr. Thornton has over 27 years of oil and gas experience. Mr. Thornton spent the first part of his career in various management positions with Shell. From 2000 to 2012, he held various operating and corporate executive positions with Suncor. He spent four years in Fort McMurray at Suncor’s Oil Sands mining operations. His most recent position with Suncor was Executive Vice President of Supply, Trading and Development. Mr. Thornton has held previous board positions with both the Canadian Association of Petroleum Producers (CAAP) and the Canadian Petroleum Products Institute (CPPI). He was a past board member of the YMCA Fort McMurray and is currently a member of the board of North American Energy Partners Inc. Mr. Thornton is a graduate of McMaster University with an Honours degree in Economics. He is also a graduate of the Institute of Corporate Directors (ICD) Directors Education Program.

Basic Compensation

Name Fiscal Year Total

David French

1,048,590

David Hendry

--

Tony Berthelet

881,202

Andrew Sweerts

912,027

Mark Hodgson

--

George Brookman

111,000

John Brydson

115,500

Raymond Crossley

123,813

William Friley

112,500

Maureen Jackson

87,782

Jay Thornton

109,500
As Of  30 Dec 2016