Stewart Reid

Stewart M. Reid has almost 30 years of experience in the oil and gas business and is highly experienced in the financial as well as the drilling, acquisition and production aspects of the industry. Mr. Reid founded Millbrae, which has invested $300 million in oil and gas properties since 2001. Mr. Reid and Millbrae Energy now manage six investment partnerships with over $320 million in contributed capital, all of which are invested in dewatering projects in Oklahoma. Mr. Reid has led Millbrae’s involvement in developing the Paradigm field, the second largest dewatering field in Oklahoma, which reached peak daily production of 500 barrels of oil and 58 million cubic feet of natural gas (MMCF or MMCFe including equivalent oil production). Under Mr. Reid’s leadership, Millbrae is also participating in the development of the Mount Vernon/Central Dolomite fields which presently produce at a daily rate of 30 MMCFe and are expected to reach daily production of 45 million MMCFe by the end of 2008. In 2006, Millbrae entered into a joint venture with Special Energy Corporation of Stillwater, Oklahoma to develop a large acreage block in Northwestern Oklahoma. Discoveries have been made in two fields, Alfa and Dacoma, to date and gross production presently approaches 8 MMCFe per day. As of December 31, 2006, the Millbrae partnerships owned interests in over 550 wells with average daily production of 25.5 MMCF and 750 barrels of oil. The Millbrae Group sold its interest in the Paradigm field as of January 1, 2007. Previously, Mr. Reid founded SMR Energy, a private oil and gas acquisition purchaser, in 1986. Headquartered in Oklahoma City and Houston, SMR Energy completed over $100 million of producing property acquisitions. At its peak, SMR Energy owned interests in over 2,000 producing properties in five states, and operated 500 wells. Mr. Reid sold a controlling share in his company to his management team in 1998. Prior to entering the energy business, Mr. Reid practiced law at Simpson Thacher & Bartlett. Mr. Reid graduated from Wesleyan University, where he has served as a Trustee, and Columbia University Law School.