Stephen Calderwood

STEPHEN CALDERWOOD had 15 years of oil and gas industry experience in
Canada and Europe prior to joining Salman Partners in 1998. He worked
for Talisman Energy Inc., and its predecessor BP Canada, for 10 years,
participating in all aspects of petroleum engineering. Since receiving
his MBA in International Finance from Strathclyde University, he has
focused on business development projects. He analyzes the highest
quality oil and gas companies in Canada, emphasizing their technical
aspects, specifically their oil and gas reserves and exploration
prospects. His analysis is strengthened through visits to company
operations around the world.