Current management has over 50 years combined Royalty Trust management experience and has completed more than $3 billion of corporate and asset acquisitions.

Senior management offers expertise in finance, capital markets and investor relations, and is complemented by highly skilled technical and administrative personnel.

Officers:

• Kelly I. Drader, Chief Executive Officer
• Andy J. Mah, President and Chief Operating Officer
• Patrick J. Cairns, Senior Vice President
• Gary F. Bourgeois, Vice President, Corporate Development
• Peter A. Hanrahan, Vice President, Finance and Chief Financial Officer
• Neil Bokenfohr, Vice President, Exploitation
• David Cronkhite, Vice President, Operations
• Weldon Kary, Vice President, Geoscience and Land

Kelly I. Drader
Chief Executive Officer
Mr. Drader has over 25 years of experience in financial management, oil & gas acquisitions, investment analysis, and income tax in the oil and gas industry. Prior to joining Advantage in May 2001, Mr. Drader was with The Enerplus Group of Companies. He served as Vice President, Finance and CFO for 10 years before being promoted to Senior Vice President in 1997. Prior to joining Enerplus in November 1987, Mr. Drader was with Westburne Petroleum & Minerals Ltd., an active public oil and gas production and exploration company. He served as Treasurer and corporate tax specialist at Westburne. In this capacity, Mr. Drader was responsible for financial reporting, taxation matters and information systems. Prior to 1985, he was in public practice with Touche Ross & Co., in Calgary, specializing in oil and gas auditing for 4 years and oil and gas taxation for 2 years.

Andy J. Mah
President and Chief Operating Officer
Mr. Mah has over 24 years experience in the oil and gas industry. Prior to joining the Advantage management team, Mr. Mah served as President of Ketch Resources Trust from September 2005 until June 2006 and was Chief Operating Officer since January 2005. From August 1998 to January 2005, Mr. Mah was the Executive Officer and Vice President, Engineering and Operations of Northrock Resources Ltd.

Mr. Mah is a graduate of the University of Saskatchewan, B. Sc. Chemistry in 1980 and B. Sc. Chemical Engineering in 1982.

Mr. Mah is a member of APEGGA and the Society of Petroleum Engineers.

Patrick J. Cairns
Senior Vice President
Mr. Cairns has over 25 years of experience in oil and gas production and evaluations engineering. Prior to joining Advantage in June of 2001, Mr. Cairns was with the Enerplus Group of Companies for 10 years, the last five years as Vice President, Evaluations. In this capacity, he was responsible for recommending over Cdn$3 billion of corporate and property acquisitions. Before joining Enerplus, Mr. Cairns was with Martin Petroleum and Associates, where he performed and audited hundreds of corporate evaluations. During his career Mr. Cairns served four years as Production Manager for a junior oil and gas company overseeing the reporting and operations of 3,000 boe/d production in northwest Alberta and southeast Saskatchewan.

Gary F. Bourgeois
Vice President, Corporate Development
Prior to his employment at Advantage, Mr. Bourgeois was a Managing Director of the Enerplus Group of Companies, which specialize in the management of oil and gas income funds and royalty trusts (1998-2000), and the President of Queen-Yonge Investments Limited (since 1985), a private family-owned investment holding company with holdings in oil and gas royalty trusts, real estate income funds, direct oil and gas properties, private and public exploration and production companies and direct commercial real estate holdings.

Peter A. Hanrahan
Vice President, Finance and Chief Financial Officer
Mr. Hanrahan has over 15 years experience in financial management, financial reporting, treasury and taxation in the oil and gas industry. Previously, Mr. Hanrahan held the position of Controller for Advantage and its predecessor entity, Search Energy Corp. Before joining Search, he held various senior financial positions at Numac Energy Inc., a senior oil and gas company. Prior to 1993, he was in public practice with Price Waterhouse in Calgary, where he specialized in oil and gas auditing for 5 years.

Neil Bokenfohr
Vice President, Exploitation

From January 2005 to June 2006, Mr. Bokenfohr was the Vice President, Exploitation and Operations of Ketch Resources Trust. Prior thereto, Mr. Bokenfohr served as Vice President, Engineering of Bear Creek (and Crossfield Gas Corp.) from March 2002 to January 2005. Mr Bokenfohr has over 17 years of oil and gas experience in petroleum exploration, development and operations.

Mr. Bokenfohr received his BSc. in Petroleum Engineering from the University of Alberta in 1989 and is a registered professional engineer with APEGGA.

David Cronkhite
Vice President, Operations

Mr. Cronkhite has over 25 years experience in production engineering, drilling, facilities, environment  and loss management in the oil and gas industry. He has been with Advantage for five years during which time he served as Production Manager.

Before joining Advantage, Mr. Cronkhite also held engineering positions with several oil and gas companies including Hudson's Bay, Scepter, Stampeder and Calpine. Mr Cronkhite is a member of both APEGGA and APEGBC.

Weldon Kary
Vice President, Geosciences and Land
Mr. Kary has 26 years of experience as a geologist and geological manager throughout most areas of the Western Canadian Sedimentary Basin. He began his career in 1978 with Pacific Petroleums/Petro-Canada. He worked as a geologist at Norcen Energy Resources followed by Forest Oil Corporation until 1986 when he joined Fossil Oil & Gas Limited. He remained at Fossil as exploration manager until 1996 when the company was sold. He then joined Palliser Energy Corp as exploration manager until 2000 when it was sold to Search Energy Corp. He continued on with Search, the predecessor company to Advantage and has been with the Fund since its inception in 2001, most recently as Manager Geology and Geophysics until his promotion to Vice President.

Mr. Kary is a graduate of the University of Alberta with a BSc in Geology and is a member of APEGGA.