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Karen Herbst
President-The Spur Resource Corporation, Spur Resources, I, Ltd and Cowgirl Productions, Inc

Education
University of Wyoming, Honors Graduate-BS General Business 1977-1981
Tested CPL-February 1988. Recertified 1993, 1998, 2003

Profesional Organization Participation
Wyoming Association of Petroleum Landmen: 1981-1984
Denver Association of Petroleum Landmen: 1984-1990
Michigan Association of Petroleum Landmen: 1987-1991
Oklahoma City Association of Petroleum Landmen: 1989-Present
Dallas Association of Petroleum Landmen 1991-92; 1997-Present
Board of Directors-1998-1999
American Association of Petroleum Landmen: 1987-Present
Publications Committee: 1987-88, 1993-95
Assistant Chairman 1988-89, 1993-94
Chairman 1989-1990, 1994-95
Regional Director 1988-1992
CPL Review Lecturer-Pooling Topic-1991
Certification Committee: 1993-96
Co-Chairman 1997 International Conference, Nashville, TN
National Cattlemen’s Association-1993-present
Texas Society-2001 to present
Volunteer Texas Stampede Rodeo-CowboysConcertsKids

Experience
6/81-4/84: Petroleum Landman-Gulf Oil Corporation, Casper, Wyoming
Learned land functions in house and in the field-no prior land experience. Performed leasing, negotiation and drafting of farmins, farmouts and joint operating agreements. Formed federal units. Geographic areas of responsibility-Powder River, Williston, Green River, Wind River, Big Horn, Uinta & North/South Park Basins of Rocky Mountain Area.

5/84-12/86 Senior Landman-Sun Exploration & Production Company, Denver, Colorado
Development drilling in the Glass Bluff/EightMile/Elk fields, North Dakota-prepared 60 plus locations that were all drilled. Resolved enormous problems with respect to record title ownership of river lands in drillsites.

1/87-8/88 Senior Landman-Sun Exploration & Production Company, Midland, Michigan
Developed wildcat Michigan Prairie DuChein deep gas prospects and obtained drilling partners. Monitored partner operated AMI's/JOA's covering 150,000 net acres and over 30 wells in the Appalachian Basin---West Virginia, New York and Pennsylvania.

9/88-6/89 Senior Landman-Oryx Energy Company, Lansing, Michigan
Directed sale of all Appalachian Basin properties for $3MM-leases, wells, pipelines and seismic.

6/89-7/91 Production Land Coordinator-Oryx Energy Company, Oklahoma City, Oklahoma
Responsible for coordination of all production land matters for the Mid-Continent Production Office in Oklahoma City. Extensive Oklahoma Corporation Commission experience...poolings, increased density, exception locations.

8/91-10/29/91 Professional Landman-Oryx Energy Company, Dallas, Texas
Exploration/Production landman Mid-Continent area. Assisted in strategic asset rationalizations of Mid-continent domestic holdings.

10/30/91-4/1/2000
Voluntarily left Oryx. Formed "The Spur Resource Corporation". Actively assisted major companies and independents in selling and acquiring producing working interest and royalty/mineral interest properties in all geographic areas above as well as Texas, New Mexico, and Louisiana. Performed detailed due diligence, preliminary economic and geo-science screening of acquisition opportunities; reviewed property "performance"-net margins, costs, booked production; negotiated deals and agreements. Represented buyers at public oil and gas property auctions performing due diligence, bidding and closings. Computer literate-spreadsheet, word processing, accounting, graphics and data base.

4/1/2000-Present
Joined Providence Minerals, LLC as Land Manager performing all land, lease records, division order, oil & gas marketing, gas balancing functions associated with an asset base of 3,000+ non operated interests in Oklahoma, Texas, New Mexico, Wyoming, Colorado, Montana, North Dakota, Kansas and Louisiana. Exercised option to buy in and become a partner of PMLLC effective 1/1/2003, thus forming Spur Resources I, Ltd for equity participation.

Personal
Born and raised on a fourth generation, 101 year old cattle ranch in central Wyoming. Hobbies include owning and riding beautiful quarterhorses, country music, water skiing and golf.