Georges Picard, MBA, President, Chairman of the Board

Mr. Picard holds an MBA from ESSEC in France. He joined IFP as a comptroller in 1981, and then became Assistant to the Budget Director in 1987. From 1989 to 1992, he was with SYSECA (a Thomson group computer services company). He returned to IFP in 1992 as assistant to the Secretary General. He was appointed Deputy Secretary General in 1995, and became Financial Director in 1997. He was appointed Executive Vice-President of IFP in 2001. Mr. Picard has been Vice-President of the Company since 2000 and was appointed President in 2002. He is also a director of Axens SA, President of IFP Investissements, and member of the Supervisory Board of Beicip Franlab.

Gérard Friès, PhD

Mr. Friès has been an Executive Vice President of IFP since 2001 and the head of its Exploration & Production Business Unit since 2003. Mr. Friès graduated from Ecole Polytechnique, as well as from the Ecole des Mines de Paris. He also has a PhD from Paris university. Mr. Friès started his career with Elf Aquitaine in 1987 and assumed increasing responsibilities, becoming Area Manager in Gabon, head of the Seismic Interpretation group for Elf Neftegaz in Russia and Kazakhstan, Exploration Manager for Elf Aquitaine France, and finally Director of Elf Gabon in 1997. In 1999 he joined TotalFinaElf Exploration UK plc in London as head of its Geosciences Research Centre before moving to IFP in 2001. He is a member of the Association des Techniciens et Professionnels du Pétrole (AFTP); International Association of Sedimentologist (IAS); American Association of Petroleum Geologist (AAPG); Society for Sedimentary Geology (SEPM); Geological Society of London.

Eric Lafargue, BSc Geology

Mr. Lafargue received a BSc in Geology from Ecole Géologie de Nancy and an MSc with IFP School and University of Tulsa. Mr. Lafargue first spent 12 years at IFP conducting various projects in experimental and applied geochemistry, petroleum and basin evaluations. He then joined the Ministry of Industry in France where he was in charge of the public funding of research projects operated by petroleum and service companies. In this position he also became involved with business development and strategic planning of different Small and Medium Independent companies. Upon leaving the Ministry he came back to IFP where he is now in charge of identifying and evaluating potential investments in companies operating in IFP strategic domains (petroleum and gas, automobile and environmental sectors).

Vincent Richard, PhD

Mr. Richard received an MSc and a PhD in Geophysics from the University of Montpellier in France. He began his career with Elf Aquitaine in 1985 then joined IFP in 1987 to work on stratigraphic and lithologic interpretation of seismic data. Mr. Richard was appointed head of the Geophysical and Instrumentation Division of IFP in 1997 and then head of the Reservoir Engineering Division in 2002. He received the Van Weelden award from the European Association of Geoscientists and Engineers in 1986 and is a member of the Society of Exploration Geophysicists and of the European Association of Exploration Geophysicists.