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SUMMARY

A results-oriented professional with 10+ years of combined industry experience, primarily in the onshore Texas and Louisiana Gulf Coast and Mid-Continent regions. Self-motivated with strong analytical and communication skills. Experience includes strong background in wellsite operations, log analysis and correlation, seismic interpretation and computer mapping, as well as prospect evaluation, well planning, leasing, partner relations, and budget and reserve estimates. Extensive background in fractured carbonates and horizontal drilling operations.

BUSINESS EXPERIENCE

Golden Oil Company 2000-Present
Golden Oil Holding Corporation
Golden Resources, Inc.

Director of Operations
Managed 125 Company operated wells in the San Juan basin, New Mexico, and Osage County, Oklahoma. Oversaw all aspects of operations including vendor services, wellsite equipment maintenance and inventory, workovers and wellbore repairs, supervision of field employees, Working Interest holder relations, oil and gas purchase contracts, and many accounting, insurance, and legal matters. Coordinated with State, Federal, and Indian agencies on matters of taxation, production reporting, plug and abandonment, water disposal and injection, and environmental regulations.

New Mexico
* Acquired $150,000 in outside funding for workovers, increasing production by 50%. Brought approx. 20 dormant wells back on-line.
* Created AFE forms and field-wide reserve and revenue reports.
* Streamlined production facilities and upgraded equipment.
* Implemented wellbore acidizing treatment that cut workover expenses by 50%.

Oklahoma
* Analyzed vendor services and cut operating costs by switching vendors and "in-housing" maintenance work.
* Maintained production with recompletions/workovers and water injection program.
* Evaluated potential for secondary recovery project.

Fina Oil & Chemical Company 1998-1999

Staff Geologist, Development Division
Responsible for the development of reserves at Bethany Field, Panola County, E. Texas. Duties included reservoir study/mapping and complex interval correlation of tight gas sand reservoirs in addition to selecting recompletion intervals. Familiar with the utilization of modern stimulation/completion techniques. Additional duties involved development/divestiture of Mississippi salt dome property. Utilized PRIZM software.

* Generated multiple drilling prospects while working closely with multi-disciplinary team, resulting in approval to drill 4 Cotton Valley wells, with the first successfully completed in February 1999. Recommended infill-drilling locations, generating approval for 2 offset Travis Peak wells.

* Successful completion of these six wells, in addition to two offsets, led to a doubling of Fina's Bethany Field production.

Theodore D. Oldham page 2

Belco Oil and Gas Corp. 1995-1998

Staff Geologist
Recommended working interest elections, lease acquisitions, grass roots and re-entry well selections, and targeting, sidetracking, and completion procedures. Purchased and interpreted seismic, geosteered horizontal laterals, and created structure and isopach maps. Screened outside prospects and coordinated vendor services. Utilized Geographix, Word, WP, and Excel.

* Analyzed outside operated well proposals and made recommendations to management resulting in company participation in 100+ horizontal Austin Chalk, Buda, and Georgetown wells in Texas and Louisiana, generating gross reserves of approx. 400 Bcfe.

* Developed and spearheaded Austin Chalk re-entry drilling program in Grimes County, Texas, resulting in the drilling of 16 additional laterals, adding reserves of approx. 40 Bcfe.

* Participated in team mapping project of the Louisiana Austin Chalk trend, resulting in the high grading of leases and generation of new drilling prospects.

Play areas worked:
-Austin Chalk/Buda/Georgetown trends, Texas and Louisiana -Woodbine, E. Texas
-Cotton Valley Reef play, E. Texas -Vicksburg, S. Texas
-Golden Trend, Oklahoma

Acculog Mudlogging Service 1990-1995

Mudlogger
Logged 50+ horizontal Austin Chalk, Buda, and Georgetown wells in Giddings Field, Texas, as well as Wilcox sands in E. Texas. Intimately familiar with wellsite operations and horizontal drilling procedures.
* Duties included: Fracture/fault identification, Lithologic identification, Stratigraphic correlation, Hydrocarbon detection.

Petro Log, Inc. 1981-1984

Mudlogger
Logged high-pressure sands offshore Texas and Louisiana.
* Duties included: Abnormal pressure detection, Fault identification, Lithologic identification, Stratigraphic correlation, Hydrocarbon detection.

EDUCATION

Texas A&M University, College Station, TX 1987-1990
Completed coursework and research for M.S. in Geology.

University of Arkansas, Fayetteville, AR 1984-1987
B.S. Geology

CONTINUING EDUCATION

Workstation interpretation: Geoquest (Geoframe) Houston/Geoquest Nov. 1998

PROFESSIONAL AFFILIATIONS

AAPG, Houston Geological Society

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