Terry Payne, P.E.

Terry Payne is the President of Austin Consulting Petroleum Engineers Inc. Terry has more than 30 years of experience in the petroleum industry. Mr. Payne advises on a wide range of aspects including: prudent operator issues, production engineering, detailed reservoir engineering studies, reservoir simulation studies, reserve estimates, secondary and tertiary recovery analyses, development studies, fair market value assessments, economic analyses and cash flow studies, lease evaluations, paying
quantity determinations, various contract analyses and has provided extensive regulatory support. Mr. Payne is well recognized as an expert witness and has testified in numerous litigation matters, arbitral proceedings and regulatory matters both domestically and internationally.

Before co-founding Austin Consulting Petroleum Engineers Inc., Terry was a Senior Managing Director at FTI Platt Sparks. Prior to FTI, Terry Payne was the President of Platt, Sparks & Associates Consulting Petroleum Engineers, Inc. Prior to Platt, Sparks & Associates, Mr. Payne was employed by Chevron USA, Inc. in New Orleans. While with Chevron, he had both production engineering and reservoir engineering assignments in many offshore Gulf of Mexico and inland water fields. Prior to his employment with Chevron, Mr. Payne worked for Conoco, Inc. in their operations group
in South Texas, where he was responsible for well production and injection operations, problem well analysis, remedial recommendations, and on-site supervision of well work.

Mr. Payne received a B.S. degree in petroleum engineering from The University of Texas at Austin in 1985 and is a Licensed Professional Engineer in the State of Texas. He is a member and former officer of the Society of Petroleum Engineers, a member of the Society of Petroleum Evaluation Engineers and a member of the Society of Petrophysicists and Well Log Analysts.