The Real Energy Comes from Our People September 2012

Scot Cohen, Executive Chairman Luis Vierma, Executive Vice President Daniel Smith, Executive Vice President Ruben Alba, Executive Vice President Jonathan Rudney, Senior Advisor Dr. James Rector, Chief Technology and Geophysics Advisor Jesse Crews, Operations and Geology Consultant Petro River Leadership

Mr. Cohen is Executive Chairman of Petro River Corporation. With over 20 years of experience in institutional asset management, financing, foreign negotiations and acquisitions in the oil and gas industry, he has raised hundreds of millions of dollars in his career. Mr. Cohen is the Founder and Principal of the Iroquois Capital Opportunity Fund, a private equity fund focused on North American oil and gas exploration and production as well as the Co-Founder of Iroquois Capital, a New York based hedge fund with approximately $200M in assets under management. Passionate about the oil and gas sector, Mr. Cohen is also the founder of the National Foundation for Veteran Redeployment, a 501(c)3 charitable organization sponsored by domestic oil and gas companies with a mission to impact veteran unemployment by offering vocational training, transport, mentorship, and job placement assistance to veterans seeking careers in the oil and gas industry. Mr. Cohen earned a Bachelor of Science degree from Ohio University in Scot Cohen Current Title: Executive Chairman, Petro River Oil Former Title: Founder and Principle of Iroquois Opportunity Fund

Mr. Vierma is Executive Vice President of Petro River Corporation. A geochemist by training, he had an impressive leadership career with the fourth largest oil company in the world, PDVSA (INTEVEP), including the roles of Vice President of Exploration in 2005, and Production and Venezuela’s Deputy Oil Minister to OPEC in In addition, Mr. Vierma brings his expertise in heavy oil to Petro River. From 1975 to 1979, Mr. Vierma was a chemistry professor at the Universidad Central de Venezuela. In 1978 he joined PDVSA as geochemist of exploration, before leading the Organic Geochemistry Laboratory. Between 1993 and 2000, Mr. Vierma held numerous leadership positions including Manager of Upgraded Recovery of Crude Oil, head of the Organic Geochemistry Section, Head of Geology and Leader of the Bosque-Bucare Project where he implemented the strategy for shared productivity efforts. Shortly thereafter, Mr. Vierma was appointed Manager of Exploration and Businesses before becoming the Director of the Office and Policies; Plans of the Vice Ministry of Hydrocarbons of the Ministry of Energy and Mining in Venezuela (currently named the Ministry of Popular Power for Energy and Oil). Since 2003, Mr. Vierma was named President of CVP, Vice President of PDVSA GAS and a member of the Board of Directors of CITGO. Mr. Vierma holds a Bachelor’s Degree in Chemistry from Universidad Central de Venezuela in He earned a Master’s Degree in Geology (Geochemistry of Petroleum) from the University of Indiana in Luis Vierma Current Title: Executive Vice President, Petro River Oil Former Title: Vice President of Exploration and Production, PDVSA

Mr. Smith is an Executive Vice President at Petro River Oil Corporation. As a registered professional petroleum engineer, he has over 18 years of experience in the oil and gas industry with specialized expertise in drilling, hydraulic fracturing and artificial life from his work at Sonat Exploration Co. and XTO Energy. Additionally, Mr. Smith brings a rare combination of talents from extensive, large corporate technical expertise to soup-to-nuts business aspects of prospect evaluation, funding and development. XTO Energy is a leader in the technological revolution of hydraulic fracturing, which has unlocked tremendous oil and gas reserves in the United States. At XTO, Mr. Smith managed fields producing in excess of 100 million cubic feet of gas per day. Subsequent to XTO, he has worked with and owned various private oil and gas companies directing all aspects of oil and gas development from prospect identification, evaluation and acquisition, to drilling, completion and production. Mr. Smtih holds a Bachelor’s of Science degree in Chemical Engineering from Texas A&M University and is a Texas Registered Professional Petroleum Engineer by examination. Daniel Smith Current Title: Executive Vice President, Petro River Oil Former Title: Private Oil and Gas Investor/Consultant

Mr. Alba is an Executive Vice President of Petro River Oil Corporation. A chemical engineer, he is the primary signee of three patents in new and novel hydraulic fracturing techniques owned by Halliburton. Mr. Alba provides technical expertise on modern stimulation methods, reservoir analysis, and has extensive experience working in the Mississippi Lime formation. In 1997, Mr. Alba served in engineering leadership roles with Halliburton in the Denver-Julesberg Basin. He later progressed into operations management and supervised the company’s pressure pumping and fracturing operations in Colorado and Wyoming. Mr. Alba was later promoted to the Denver corporate office where he continued the development of new coil-tubing and fracturing technologies, as well as hydraulic fracture fluid chemistries, which yielded numerous patents to his credit. He transitioned back to management as the Region Field Technology Manager, where he supervised over 100 engineers and 40 lab personnel to facilitate the introduction of new and applicable technologies to Halliburton operations. In 2007, Mr. Alba joined Superior Well Services, Inc. to supervise their Rocky Mountain division and facilitated the introduction of the company into liquids-rich technical markets, including the exclusive Denver-Julesberg Basin, Codell Miobrara plays, and North Dakota Bakken regions. Mr. Alba’s efforts poised Superior for continued growth despite the downturn in natural gas markets. Prior to joining Petro River Oil in 2012, Mr. Alba joined the advisory team of Iroquois Capital, a private equity fund focusing exclusively on domestic, on-shore oil and gas assets. He held executive positions in the fund’s holding companies, including Austex Oil Limited, Glen Rose Petroleum, and Gale Force Petroleum. Mr. Alba holds a Bachelor’s of Science in Chemical Engineering from New Mexico State University. Ruben Alba Current Title: Executive Vice President, Petro River Oil Former Title: Region Field Technology Manager, Halliburton

Mr. Rudney is a Board Member and Senior Advisor of Petro River Oil Corporation. He has approximately 30 years of executive experience in the upstream oil and gas industry, as co-founder of the predecessor of RAAM Global Energy. There, from , he was responsible for overseeing exploration, production, construction and engineering operations and also structured and negotiated major bank financings and pioneered the development of innovative, non-traditional capital sources (e.g. volumetric production payments and natural gas swaps). Since 1996, Mr. Rudney has pursued personal oil and gas interests, both domestically and internationally. He has served as the President of Concordia Resources LLC, a domestic investment vehicle, since 1997; Chief Executive Officer of Century Exploration International, Inc., since 2004; and Chief Executive Officer of Concorde Energy, Inc. since 2010, both privately held international development companies. Mr. Rudney holds a Bachelor’s of Science Degree from the University of California at Santa Cruz. Jonathan B. Rudney Current Title: Senior Advisor, Petro River Oil Former Title: CEO, Concorde Energy, Inc.

Dr. Rector is the Chief Technology and Geophysics Advisor to Petro River Oil Corporation. Currently a tenured professor of Geophysics at the University of California- Berkeley, he has a unique background both as a developer and user of technology in the oil and gas industry. Dr. Rector brings his expertise as a former senior consultant in borehole seismology for major oil and gas companies including ChevronTexaco, British Petroleum, Unocal, Weatherford International, Baker-Hughes, and Petroleum Geo-Services. In 1998 Dr. Rector co-founded Berkeley GeoImaging (“BGI”) to exploit opportunities as a resource project qualifier, technology partner, and organizer of equity participation pools. BGI is active in oil and gas exploration, leading and production within the Midcontinent region. Dr. Rector led the development of a patented technology (6 U.S. Patents) that exploited the sounds created by the drill bit during the drilling of a borehole to create high-resolution seismic images of the formations around the borehole. This technology was sold to Western-Atlas International. James also co-founded the TomoSeis Corporation, a hi-tech startup in the oil field service sector that utilizes well-to-well geometrics to provide reservoir images that were an order of magnitude more detailed than conventional methods could provide. Dr. Rector currently serves on the technical advisory board at 4th Wave Imaging Corporation and Z-Seis Corporation. He has published a wide variety of subjects including near-surface geophysics, anisotropic imaging of borehole and surface seismic data, and wave propagation simulation. Dr. Rector has earned prestigious academic awards for these works, including: The Legends of Seismic While Drilling Award, Society of Petroleum Engineers, 2007 and the J. Clarence Karcher Award, Society of Exploration Geophysicists, Dr. Rector holds a Master’s of Science Degree and Ph.D. in Geophysics from Stanford University. Dr. James Rector Current Title: Chief Technology and Geophysics Advisor, Petro River Oil Professional Title: Professor of Geophysics at UC Berkeley

Mr. Crews is the Operations and Geology Consultant for Petro River Oil Corporation. He has over 12 years of experience in geology, geophysics and engineering, including the U.S. Geological Survey, private consulting and energy exploration. He has worked in Kansas, Oklahoma, Illinois, New Mexico, Arizona, California, the Gulf of Mexico and Alaska. Mr. Crews has direct experience across the spectrum of upstream oil and gas exploration, including 3D seismic interpretation, log/core analysis, surface and subsurface geologic mapping/outcrop analysis, drilling program development and implementation, and operations management. Mr. Crews is the co-founder and Principal Geologist at JRC Geoscience, Inc. where he provides geologic, geophysical and operational management consulting to a wide variety of clients in the energy sector. Mr. Crews holds a Bachelor’s of Science degree in Geology from Sonoma State University and a Master’s of Science in Applied Geophysics from the University of California- Berkeley. He is a registered Professional Geologist in the State of California. Jesse Crews Current Title: Operations and Geology Consultant, Petro River Oil Former Title: Co-Founder and Principal Geologist, JRC Geoscience

The Real Energy Comes from Our People September 2012