Corporate Governance

Antrim Energy Inc. is a publicly-traded, shareholder-owned company. The common shares are listed on the TSX Venture Exchange and the London AIM market. The management is accountable to a board of directors elected by the shareholders at the annual meeting. Every director is required to act honestly and in good faith and in the best interests of the company and to exercise the care, diligence and skill of a reasonably prudent person. Responsibility that is not delegated to senior management or to a committee of the board remains that of the full board.

The Board of Directors is currently composed of five members of which three are independent pursuant to Multilateral Instrument 52-110 of the Canadian Securities Administrators.

The Board of Directors of Antrim has established four committees - corporate governance, audit, compensation and reserves.

The Board of Directors have approved the mandate for the audit committee which includes, among other duties and responsibilities: monitoring the financial reporting process and systems of internal control; monitoring the independence and performance of the external auditors; and, reviewing internal and year-end financial statements and other regulatory filings for approval of the board of directors.

The mandate of the compensation committee is to monitor the performance and compensation of senior management; review and provide recommendations to the Board of Directors with respect to implementation and variation of option, compensation and incentive plans.

The mandate of the reserves committee is to assist the Board in fulfilling its responsibilities generally and under National Instrument 51-101 with respect to compliance, the oil and natural gas reserves evaluation process, public disclosure of reserves data and related information in connection with oil and gas activities.