Paramount Energy Trust

Ms. Riddell Rose is President and Chief Executive Officer of Paramount Energy Operating Corp. and has overall management responsibility for the Trust. Ms. Riddell Rose graduated from Queen's University, Kingston, Ontario with a Bachelor of Science in Geological Engineering (1986) and has over 15 years of experience in the Canadian oil and natural gas industries. She began her career as a petroleum engineer with Shell Canada and from 1990 until 2002 she was employed by Paramount Resources Ltd. in various capacities culminating in the position of Corporate Operating Officer. She has been a director of Paramount Resources Ltd. since 2000. She is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta, the Canadian Society of Petroleum Geologists and the American Association of Petroleum Geologists.

Mr. Green is Vice President, Production Operations of Paramount Energy Operating Corp. and is responsible for all production, safety and field operations for the Trust. Mr. Green graduated in 1986 from the University of Alberta with a Bachelor of Science Degree in Mechanical Engineering and has over 22 years of experience in the Canadian oil and natural gas industry. His previous industry experience includes Manager, Acquisitions & Divestitures with Paramount Energy Trust and Exploitation Manager and Production Manager roles at Anadarko Canada Corp. Mr. Green has held a number of additional technical and supervisory positions in other organizations including Norcen and Union Pacific Resources. Mr. Green is a member of The Society of Petroleum Engineers and APEGGA.

Mr. Rapini is Vice President, Marketing of Paramount Energy Operating Corp. and is responsible for the Trust's gas marketing portfolio. Mr. Rapini joined the Trust in December 2005 and has over 15 years of gas marketing and trading experience in the natural gas industry. His previous positions include Vice President of Trade at Sempra Energy Trading, Senior Trader at Mirant Energy Marketing Ltd., and Senior Trader at Duke Energy Marketing. Mr. Rapini graduated from the University of Calgary with a bachelor of Arts degree.

Mr. Riddell graduated from the University of Manitoba with a Bachelor of Science, Honours Degree in Geology. He has been the Chairman of the Board and Chief Executive Officer of Paramount Resources Limited since 1978. Mr. Riddell is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta, the Canadian Association of Petroleum Producers, the Canadian Society of Petroleum Geologists, the Independent Petroleum Association of Canada, the American Association of Petroleum Geologists and the Canadian Geoscience Council. Mr. Riddell is a director of Newalta Corporation.

Mr. Nelson holds a diploma in Computer Technology from the Southern Alberta Institute of Technology, Calgary, Alberta (1969) and graduated from Notre Dame University, Nelson, British Columbia with a Bachelor of Science degree in Mathematics (1972). He is currently a private businessman. Mr. Nelson was President, Chief Executive Officer and a Director of Summit Resources Limited until its acquisition by Paramount Resources Ltd. in June of 2002. His career has also included senior technical and managerial positions with Petro Canada Oil and Gas, Amerada Hess Canada and Placer Cego Petroleum. He is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta and of the Society of Petroleum Engineers.

Mr. Peltier is currently President of Ipperwash Resources Ltd., a company engaged in oil and natural gas production, investments and consulting services. He is a director of Ember Resources Inc. and Masters Energy Inc., both public companies; a director of Tundra Oil & Gas Ltd., a private company; and a member of the board of trustees of Paramount Energy Trust and Gienow Income Trust Fund, both of which are publicly listed.

Ms. Genoway is a professional landman with over 23 years experience in the oil and natural gas industry. Currently, she is the Vice-President, Land for the private company Onyx Energy Inc. Previously, she has held management positions with Strand Oil & Gas Ltd., the Enerplus Group of Companies and the Request Income Trust. She is an active member of The Canadian Association of Petroleum Land Administration, The Petroleum Joint Venture Association, The Petroleum Acquisition and Divestment Association as well as The Canadian Association of Petroleum Landmen. Ms. Genoway is also currently a director of Kale Investments Inc., Onyx Energy Inc. and Onyx Oil & Gas Ltd.

Mr. Johnson is a senior corporate banking executive with 22 years of experience providing banking services to corporations in Western Canada. He holds a Master of Business Administration with a financial emphasis and a Bachelor of Science from Brigham Young University in Utah. His career in corporate banking extends back to 1983 as an Associate, Corporate and Institutional Financial Services at Bank of Montreal leading up to Managing Director, Loan Products Group, Investment and Corporate Banking with BMO Nesbitt Burns. Currently, Mr Johnson is a Sessional Instructor with the Bisset School of Business at Mount Royal College.

Mr. Maitland graduated from the University of Calgary in 1975 with a Bachelor of Commerce degree and commenced articling with Peat Marwick Mitchell (presently KMPG). He obtained his Chartered Accountant designation in 1977. He left Peat Marwick Mitchell in 1980 to join a small oil and gas company, Corrida Resources Inc., as controller and treasurer. He left Corrida in 1985 and joined an emerging oil and gas company, Summit Resources Limited, as Chief Financial Officer. This company grew from 600 boe/d in 1985 to over 12,000 boe/d in 1994. He left Summit in 1994 and joined Omega Hydrocarbons Ltd. as Chief Financial Officer. This company was sold in late 1995 and Mr. Maitland became a financial consultant and acted as the Chief Financial Officer of two public oil and gas companies. He joined Pan East Petroleum Corp. in 1997 as Vice President of Finance and Chief Financial Officer. The company was sold in late 1998. Mr. Maitland was a member of the executive team which founded Canadian Midstream Services Ltd., a private Canadian midstream corporation, which was subsequently sold in 2001 to Duke Energy Field Services. Most recently Mr. Maitland held the position of VP Finance and Chief Financial Officer with Fairborne Energy Ltd., the predecessor to Fairquest Energy Limited. Mr. Maitland is a member of The Institute of Chartered Accountants of Alberta (ICAA) and The Canadian Institute of Chartered Accountants (CICA). He is also a member and former director of the Calgary Association of Chartered Accountants, a member and former director of the Canadian Petroleum Tax Society and a member of Financial Executives International.