Management Team

Michael N. Foster Jr. - President and Co-Founder

Mr. Foster has served in this position since the company's inception in May of 1989. As President, Mr. Foster has grown the assets under the company's management to over $2 Billion in 2008. Mr. Foster is responsible for the creation and management of all of BASA's financial, acquisition, and operational strategies. The success of these strategies is evidenced by the 20% average annualized growth in the firm's production since 1997. Mr. Foster also manages and reviews the engineering of all field operations for approximately 3,400 wells spread across the more than 100 fields operated by BASA. Before co-founding BASA, Mr. Foster served as Vice President of FEC Securities Corp., an oil and gas exploration marketing firm. Mr. Foster directed the marketing of FEC's oil and gas products and managed the firm's training and development programs. He played an integral role in the selection of numerous drilling prospects and the review of geological, geophysical and reservoir engineering reports. Mr. Foster is a graduate of Austin College in Sherman, Texas with a Bachelor of Arts in Business Administration. BASA is a member of the Texas Alliance of Energy Producers, where Mr. Foster serves as a board member. Mr. Foster is also a member of the Dallas Petroleum Club and the East Texas Engineering Association.

Lary D. Knowlton - Executive Vice President and Co-Founder

Mr. Knowlton has served in this position since the company's inception in May of 1989. As Executive Vice President, Mr. Knowlton is responsible for business development, the marketing of BASA's offerings, and identifying and penetrating new capital markets. Mr. Knowlton has grown BASA's partner base from a single domestic partner in 1989 to a large global network of thousands. Mr. Knowlton is also responsible for the acquisitions deal flow by maintaining relations with divestiture managers and producing negotiation based purchases. Mr. Knowlton's strong ability to identify and purchase profitable assets is well illustrated by the fact that his investors, on average, have outperformed the Dow Jones Industrial Average by a margin of almost 2 to 1 since 1994. From 1988 to May 1989, Mr. Knowlton served as Vice President of FEC Securities Corp., an oil and gas exploration marketing firm. Prior to 1987, Mr. Knowlton served as a financial planning consultant specializing in the areas of estate and insurance planning for Prudential Insurance Company. Mr. Knowlton attended college at Missouri Southern State College in Joplin, Missouri. Mr. Knowlton is also a member of The Dallas Petroleum Club.

Terry W. Rippy – Vice President and General Counsel

Mr. Rippy is responsible for: developing strategies and conducting negotiations to mitigate potential liability exposure, negotiating and drafting documents necessary to address complex land and legal issues, and insuring compliance with state and federal laws, rules, and regulations. Mr. Rippy is a Land and Legal professional with over 25 years experience in the oil and gas industry. Prior to his position at BASA, Mr. Rippy was Co-founder of an independent consulting group which developed divestment systems and provided "due diligence" and negotiations support in the sale of over $1 Billion of oil and gas assets. Mr. Rippy also assisted in the development and implementation of a professional organization to abate and mitigate liabilities associated with a major oil and gas company. Mr. Rippy was also a Senior Professional Consultant for Sun Exploration and Production Company and a Senior Landman for Atlantic Richfield Company and British Petroleum. Mr. Rippy holds a Bachelors Degree in Business Management from The University of Texas at Austin as well as a Doctorate of Jurisprudence from Texas Tech School of Law. Mr. Rippy is a member of the State Bar of Texas and the American Association of Petroleum Landmen (AAPL).

Robert N. Marshall – Vice President of Operations

Mr. Marshall joined BASA Resources, Inc. in January of 2005 with over 25 years experience in the oil and gas industry. Mr. Marshall has held a variety of management, supervisory, and technical positions with Ascent Energy, Inc., Kerr-McGee, Oryx Energy, and its predecessor, Sun Exploration & Production Company. Mr. Marshall began his career with Sun Oil Company in 1980. He has a very broad base of experiences operating in a multitude of geologic basins in the U.S. Mr. Marshall has a proven track record of exploiting and monetizing assets to make a significant contribution to the bottom line. He has been instrumental as both an engineer and a manager in enhancing volumes and reducing costs in a variety of fields in Oklahoma, Louisiana, Texas, New Mexico, Colorado, and California. His strengths include his technical competence in drilling, completions, workovers, EH&S Management, artificial lift, compression, and operations management. For 3 ˝ years prior to joining BASA, he worked for Ascent Energy, Inc. as Operations Manager and V.P. of Operations. He managed Kerr-McGee's domestic onshore operations where his responsibilities included financial authority and management of a staff including 5 operations engineers, 3 field superintendents, and 80 field operations employees. These operations consisted of 2000 active producing wells in 57 fields with daily production of 20,000 barrels of oil and 110 million cubic feet of gas. He has excelled in his ability to move into a new area, assess an operation, rapidly deploy the resources, and implement the systems and processes to achieve a streamlined, efficient business unit. Mr. Marshall attended Louisiana State University where he earned B.S. degrees in Zoology and Petroleum Engineering. He is a member of the Society of Petroleum Engineers, American Petroleum Institute, American Association of Drilling Engineers, and Mid-Continent Oil & Gas Association. He is also a certified Incident Commander for Hazardous Waste Operations and Emergency Response (HAZWOPER) and is certified by the MMS at the “Supervisor” level for Well Control on Workovers/Completions/Well Servicing.

Nicholas C. Duane – Vice President of Reservoir Engineering

Mr. Duane joined BASA Resources, Inc. in May of 2005 with a unique combination of over 30 years of diverse reservoir and operations engineering experience. He has managed engineering projects throughout the United States and Canada as well as many international locations while working for Amoco Production Company, Santa Fe Minerals, Inc., Vintage Petroleum, Inc., Oryx Energy Company, and William M. Cobb & Associates. Mr. Duane employs a reservoir engineering skill set which includes economic analysis, well test analysis, well log analysis, and other techniques to help define and exploit the full economic potential of oil and gas fields. He has demonstrated an ability to economically enhance recovery of oil from older producing fields by carefully describing the reservoir characteristics and using reservoir computer simulation to evaluate the improved affects of water, steam, and CO2 injection. Mr. Duane graduated from the University of Missouri at Rolla with a Bachelor of Science in Engineering in 1974. He has been the Chairman of the Dallas Section of the Society of Petroleum Engineers and the President of the Dallas Chapter of the Texas Society of Professional Engineers. He is a register professional engineer in Texas and a member of National Society of Professional Engineers, the Texas Society of Professional Engineers, and the Society of Petroleum Engineers.

Steve Limke – Vice President of Drilling

Steve Limke joined BASA Resources Inc. in February of 2007. with 28 years of experience as a petroleum engineer. Mr. Limke is responsible for reviewing all drilling prospects, supervising the drilling and completion of wells, and overseeing the drilling of workover projects. Prior to joining BASA Resources Inc., Mr. Limke served as Vice President of Drilling and Operations at Ascent Energy Inc. Mr. Limke also managed the drilling operations at Prize Energy Inc. previous to his employment at Ascent. For the prior 22 years he held a succession of managerial and technical positions with Oryx Energy and its predecessor, Sun Exploration and Production Company. During this time Mr. Limke gained a wealth of experience drilling across the United States including: South Texas, Midcontinent, Appalachia, East Texas, as well as offshore. Mr. Limke attended Oklahoma State University where he earned B.S. degrees in Agriculture and Petroleum Engineering Technology. Mr. Limke is a member of the Society of Petroleum engineers. Mr. Limke currently sits on the board of directors of the American Association of Drilling Engineers as is the past president of the Dallas chapter of that organization.

James W. Barton – Vice President of Geosciences

Mr. Barton joined BASA Resources, Inc. in May of 2006 with a diverse combination of over 20 years of exploration and exploitation experience. Mr. Barton’s responsibilities include the evaluation of all drilling prospects and identifying new developmental drilling opportunities. Mr. Barton has managed all geological phases of oil and gas exploration/exploitation including prospect generation, project implementation, field activity coordination, critical analysis, and cross-functional teamwork. This was accomplished while working in a variety of positions for Rosewood Resources, Mack Energy Company, and Matador Petroleum. Mr. Barton has a very broad base of geological experience in a multitude of geologic basins within the U.S. and abroad. Mr. Barton has a proven ability for consistent leadership and communication skills that assured increased production and profitability wherever he worked. Mr. Barton graduated from the University of Nebraska with a Bachelor’s of Science in 1982 and a Master’s of Science in 1984. Mr. Barton has been the Publications Chairman of the Dallas Geological Society. He is a Texas Professional Geoscientist and a Certified Geologist of the American Association of Petroleum Geologists.

Zachary H. Drake – In-House Counsel & Vice President of Land

Mr. Drake joined BASA Resources, Inc. in April of 2013 and serves as In-House Counsel & Vice President of Land. Mr. Drake is responsible for all land and title issues as well as the management of over 4,000 wells operated by BASA in over 100 different fields throughout the State of Texas. Some of his duties include: pre-closing and post-closing curative and due diligence pertaining to acquisitions and divestitures; title examination; lease administration; and the negotiation of various agreements including purchase and sale agreements, joint operating agreements, salt water disposal agreements, farmouts, right-of-ways, surface damages and oil, gas and mineral leases. Prior to joining BASA, Mr. Drake spent five years in Fort Worth, TX working for a private oil and gas company focused primarily on operations in the Barnett Shale and later served as the Head of the Title Curative and Due Diligence Department working as a broker for Chesapeake Exploration, PetroQuest Energy and Halcón Resources, among others, where he gained experience across the United States with exposure to the Eagleford, Bakken, Granite Wash, Haynesville, Marcellus, Mississippi Lime and Utica Shales. Mr. Drake is proficient in the interpretation and application of the Texas Title Examination Standards and the Texas Natural Resources Code. Mr. Drake holds a Bachelor of Science in International Business from Florida State University and a Juris Doctorate from Southern Methodist University Dedman School of Law. Mr. Drake is a member of the State Bar of Texas, the American Association of Professional Landmen (AAPL) and the Dallas Association of Petroleum Landmen (DAPL). He is also a Licensed Salesperson with the Texas Real Estate Commission (TREC) and an Eagle Scout.

Sandra L. Wallace - Chief Financial Officer

Ms. Wallace is a Certified Public Accountant with over 20 years of experience in oil and gas and public accounting. Ms. Wallace developed and implemented the accounting systems that support the more than $2 billion in assets that the firm manages. This includes over 10,000 working interest and royalty owners. Ms. Wallace has effectively managed the departmental upgrades necessary to keep pace with the firm's growth. In addition, Ms. Wallace provides expertise in the special financial, tax, and accounting issues affecting the industry. Ms. Wallace is a graduate of Lake Superior State University in Sault Ste. Marie, Michigan with a Bachelor of Science in Accounting. Ms. Wallace is a member of the American Institute of Certified Public Accountants, the Texas Society of Certified Public Accountants, and the Council of Petroleum Accountants Societies (COPAS).