James LaChance
Chairman of the Board

Mr. LaChance has been a portfolio manager specializing in high-yield bonds and distressed investments for the past 11 years. Most recently Mr. LaChance was at Satellite Asset Management, L.P., a $7 billion AUM (Assets Under Management) investment management fund in New York City. Prior to that, he was a Partner at Post Advisory Group, LLC, an $8 billion AUM investment management firm in Los Angeles. Before that, he managed hedge funds for LibertyView Capital Management.

He began his professional career as an audit and management consultant for Arthur Andersen & Co. Subsequent to obtaining his MBA Mr. LaChance worked as a restructuring and merchant banker with Chase Manhattan Bank. He holds a bachelors degree in business administration from Northeastern University ('88) and an MBA from the Stern School of Business at New York University ('93).

Mr Knudtzon is a partner in the Oslo office of the law firm, Thommessen Krefting Greve Lund AS Advokatfirma. Mr Knudtzon was admitted to the Norwegian bar in 1979 and before the Supreme Court in 1991. He became a partner in Lund & Co ANS in 1986 which merged with Thommessen in 1993. He is a Board Member of the Norwegian Maritime Law Association and a member of the legal committee of the Norwegian Shipowners Association.Mr Knudtzon is also a non-executive board member on various shipping companies. He is a Norwegian citizen and resides in Oslo, Norway.

Hal Goldstein

Director

Mr Goldstein is a co-founder and Managing Principal of MHR Fund Management LLC (“MHR”), an investment manager of various private investment funds that invest in inefficient market sectors, including special situation equities and distressed investments.  Prior to co-founding MHR, Mr. Goldstein was an attorney in private practice in New York City. He currently serves on the board of Loral Space and Communications Inc., a leading manufacturer of large commercial satellites and the majority owner of Telesat Inc., the 4th largest commercial satellite operator in the world.  He has previously served on various other boards, including Ziff Davis Media, a publisher of technology-based digital content products, including PCMAG.com. Mr. Goldstein holds a J.D., magna cum laude, from the Benjamin N. Cardozo School of Law and a B.A. from Yeshiva University.

Cecilie Fredriksen

Director

Ms. Fredriksen is currently employed by Frontline Corporate Services in London and serves as a director on the board of several companies including Activ Kapital, Ship Finance International Limited and Golden Ocean Group Limited.  Ms. Fredriksen received a Bachelor of Arts degree in Business and Spanish from the London Metropolitan University in 2006.

Gary W. Casswell

President and Chief Executive Officer

Mr. Casswell has more than 30 years industry experience, most recently serving as Vice President, Eastern Hemisphere Operations for Pride International, Inc.  In that position, Mr. Casswell was responsible for the re-organization of Forasol/Foramer into a division of Pride, including operations of a fleet of 39 drillships, semis, jackups, tenders, and land rigs operating in eighteen countries.  Prior to joining Pride, Mr. Casswell was with Santa Fe International and held a variety of increasingly responsible positions in operations, marketing, and business development, including responsibility for developing Santa Fe's deepwater rig strategy.

Mr. Casswell is a member of the Society of Petroleum Engineers, served as the Chairman of Drilling Contractor Publications for the International Association of Drilling Contractors ("IADC") and received the IADC's Exemplary Service award in 2007.  Mr. Casswell holds a Bachelor of Science degree in Business Administration from the University of California, Long Beach.