Advantage Energy Income Fund

Mr. Drader has over 25 years of experience in financial management, oil & gas acquisitions, investment analysis, and income tax in the oil and gas industry. Prior to joining Advantage in May 2001, Mr. Drader was with The Enerplus Group of Companies. He served as Vice President, Finance and CFO for 10 years before being promoted to Senior Vice President in 1997. Prior to joining Enerplus in November 1987, Mr. Drader was with Westburne Petroleum & Minerals Ltd., an active public oil and gas production and exploration company. He served as Treasurer and corporate tax specialist at Westburne. In this capacity, Mr. Drader was responsible for financial reporting, taxation matters and information systems. Prior to 1985, he was in public practice with Touche Ross & Co., in Calgary, specializing in oil and gas auditing for 4 years and oil and gas taxation for 2 years.

Mr. Mah has over 24 years experience in the oil and gas industry. Prior to joining the Advantage management team, Mr. Mah served as President of Ketch Resources Trust from September 2005 until June 2006 and was Chief Operating Officer since January 2005. From August 1998 to January 2005, Mr. Mah was the Executive Officer and Vice President, Engineering and Operations of Northrock Resources Ltd. Mr. Mah is a graduate of the University of Saskatchewan, B. Sc. Chemistry in 1980 and B. Sc. Chemical Engineering in 1982. Mr. Mah is a member of APEGGA and the Society of Petroleum Engineers.

Mr. Cairns has over 25 years of experience in oil and gas production and evaluations engineering. Prior to joining Advantage in June of 2001, Mr. Cairns was with the Enerplus Group of Companies for 10 years, the last five years as Vice President, Evaluations. In this capacity, he was responsible for recommending over Cdn$3 billion of corporate and property acquisitions. Before joining Enerplus, Mr. Cairns was with Martin Petroleum and Associates, where he performed and audited hundreds of corporate evaluations. During his career Mr. Cairns served four years as Production Manager for a junior oil and gas company overseeing the reporting and operations of 3,000 boe/d production in northwest Alberta and southeast Saskatchewan.

Prior to his employment at Advantage, Mr. Bourgeois was a Managing Director of the Enerplus Group of Companies, which specialize in the management of oil and gas income funds and royalty trusts (1998-2000), and the President of Queen-Yonge Investments Limited (since 1985), a private family-owned investment holding company with holdings in oil and gas royalty trusts, real estate income funds, direct oil and gas properties, private and public exploration and production companies and direct commercial real estate holdings.

From January 2005 to June 2006, Mr. Bokenfohr was the Vice President, Exploitation and Operations of Ketch Resources Trust. Prior thereto, Mr. Bokenfohr served as Vice President, Engineering of Bear Creek (and Crossfield Gas Corp.) from March 2002 to January 2005. Mr Bokenfohr has over 17 years of oil and gas experience in petroleum exploration, development and operations. Mr. Bokenfohr received his BSc. in Petroleum Engineering from the University of Alberta in 1989 and is a registered professional engineer with APEGGA.

Mr. Kary has 26 years of experience as a geologist and geological manager throughout most areas of the Western Canadian Sedimentary Basin. He began his career in 1978 with Pacific Petroleums/Petro-Canada. He worked as a geologist at Norcen Energy Resources followed by Forest Oil Corporation until 1986 when he joined Fossil Oil & Gas Limited. He remained at Fossil as exploration manager until 1996 when the company was sold. He then joined Palliser Energy Corp as exploration manager until 2000 when it was sold to Search Energy Corp. He continued on with Search, the predecessor company to Advantage and has been with the Fund since its inception in 2001, most recently as Manager Geology and Geophysics until his promotion to Vice President. Mr. Kary is a graduate of the University of Alberta with a BSc in Geology and is a member of APEGGA.

Mr. Reid is a Partner at the Calgary based law firm of Burnet, Duckworth & Palmer LLP where he has practiced corporate and securities law since 1990. Mr. Reid provides advice to issuers and underwriters in respect of private and public issuances of securities and provides advice to issuers, financial advisors and special committees of Boards of Directors on business combinations, reorganizations, mergers, take-overs, arrangements and amalgamations. Mr. Reid currently serves as the Corporate Secretary of four Toronto Stock Exchange listed issuers and one TSXV Exchange listed issuer.

A lawyer by training, Steven spent his career at the Torys firm, from 1979 to 1986, and Davies, Ward & Beck from 1986 to 1998. During that time, he spent a significant amount of time acting on behalf of investment and commercial banks, multinational companies, boards of directors and shareholders, providing all aspects of business advice, with an emphasis on strategic, conflictual and governance issues. Steven co-headed the Work-out and Restructuring Group and participated in a variety of national and international situations, spanning a number of sectors of the economy. In 1998, Steven was approached by The Kroll-O'Gara Company and asked to join the company in New York and take part in the development of the growth strategy for the newly-merged enterprise. As Executive Vice President, he was responsible for strategic planning, business development and the creation of the firm's M&A group. Over the course of almost 3 years, the M&A Group completed more than 10 acquisitions of scale, spread out over the U.S., Canada, England, Colombia, Argentina and the People's Republic of China. In addition to the usual responsibilities associated with completing a transaction, Steven shared responsibility with the heads of the operating units for the successful integration of those businesses into the existing corporate structure. When he left Kroll to return to Toronto, Steven agreed to undertake the restructuring and ultimate auction of Security Technologies Group, a Florida-based national security integration company, on behalf of its stockholders. Subsequently, he undertook a similar role as Chief Restructuring Officer with a private holding company in Toronto, working out and rationalizing its portfolio of operating businesses and passive investments. Steven is a former director of Foamex International, Inc., Security Technologies Group, Inc., Altamira Investment Services Limited, RMX Exploration Company, Central Toronto Youth Services, the Child, Youth and Family Policy Research Centre, Camp Oochigeas and The Donwood Institute. He is currently Chairman of the Board of Directors of Advantage Oil & Gas Ltd. and chairs its Governance and Compensation Committee.

Carol Pennycook is a partner of Davies Ward Phillips & Vineberg LLP practicing in the area of corporate finance, securities and general corporate/commercial law. Prior to practicing in Ontario, she practiced in Calgary, Alberta in the area of securities law, corporate law and oil and gas law and is a member of the Bar of Alberta as well as of Ontario. She also practiced with the Corporate Finance Branch of the Ontario Securities Commission during a secondment program in 1984. Ms Pennycook co-ordinates and teaches the Advanced Business Law Workshop at Osgoode Hall Law School. She is also the Chair of the Committee appointed by the Province of Ontario to review the Ontario Commodity Futures Act and make recommendations regarding its reform.

Mr. Howard is an independent businessman who has held senior leadership roles in numerous oil and gas companies. Mr. Howard served as the President and Chief Executive Officer of Barrington Petroleum Ltd. from 1999 to 2001, and President and Chief Executive Officer of Sunoma Energy Corp. Prior thereto, Mr. Howard was the President and Chief Executive Officer of Seagull Energy Canada from 1987 to 1997. Mr. Howard sits on the Board of Directors of Auriga Energy Inc. and Quatro Resources Inc. Mr. Howard received a B.Sc. in Chemical Engineering in 1968 from the University of Alberta. Mr. Howard is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta (APEGGA).

Mr. Haggis has extensive financial markets and public board experience and currently serves on the Board of Directors of Canadian Tire Bank and as a director and Chair of the Investment Committee of the Insurance Corporation of British Columbia. Mr. Haggis' work experience includes serving as President and Chief Executive Officer of Ontario Municipal Employees Retirement System (OMERS) from September 2003 to March 2007, Interim Chief Executive Officer of the Public Sector Pension Investment Board (PSPIB) during 2003 and Executive Vice-President, Development and Chief Credit Officer of Manulife Financial in 2002. Mr. Haggis was also President and Chief Executive Officer of Alberta Treasury Branches from 1996 to 2001. During the course of his career, Mr. Haggis has served as a director of a number of public entities and charitable organizations including, OMERS Capital Partners, Centre for Addiction and Mental Health, Royal Ontario Museum, Pargesa Holding SA (Geneva), Oxford Properties Group, Borealis Infrastructure Management Inc. and the Canadian Chamber of Commerce.

Array

Mr. McIntosh is currently a Director of Advantage Oil & Gas Ltd. He was the President and Chief Executive Officer of Navigo Energy Inc., a Director of Crispin Energy Inc., the Senior Vice President and Chief Operating Officer of Gulf Canada Resources Inc., the Vice President, International and Exploration at Petro-Canada, and the Executive Vice President and Chief Operating Officer of Amerada Hess Canada.

Sheila O’Brien has 30 years experience in the oil and gas, pipeline and petrochemical sectors in Canada, the USA, Europe and South America. She has worked with Amoco International, Petro-Canada and Nova Corporation. She has held executive leadership positions in business relationship portfolios (Human Resources, Investor Relations, Public Affairs and Government Relations) in all three sectors. She created and implemented an innovative workforce restructuring program based on the dignity of the employee, which was designated a Worldwide Best Practice by Watson Wyatt International Consultancy. In addition, she has been active in the Not-for-Profit sector, having served on over 25 Boards of Directors, dealing primarily with Human Rights, Women’s rights, and giving voice to marginalized members of society, and is the founder of several enduring community events celebrating the accomplishments of women. Ms. O’Brien is currently a Corporate Director serving on four corporate boards and is a business consultant dealing with workforce and leadership capacity. She has been recognized for her contributions by the Government of Canada who invested her in The Order of Canada, the country’s highest civilian honour, in 1998.

Mr. Balog, a senior oil and gas executive and professional engineer, has 35 years of diversified experience and a proven operations track record in leading large scale oil and gas development and exploitation projects. Mr. Balog has strong people, operations management and technical skills combined with excellent industry knowledge and business contacts. Since November of 2001, Mr. Balog has been the President, Chief Operating Officer and Director of Tasman Exploration Ltd where he is responsible for, among other things, production, drilling, completions, facilities, reserves management and evaluation of acquisitions/mergers. Mr. Balog presently serves on the Alberta Securities Commission Reserve Advisory Committee and served as Deputy Chairman and Committee Member of the Standing Reserves Committee which drafted and implemented use of the COGE Handbook.