Shiningbank Energy Income Fund

Lance is a graduate of Mount Royal College's Land Management Program. He has 19 years of oil and gas experience in land management, aboriginal affairs and community relations. He plays a key role in identifying and evaluating acquisition targets for the Fund and manages its undeveloped land base.

Richard was Shiningbank's corporate secretary from inception of the Fund in 1996 until joining the board in mid-2005. He has pacticed law since 1991 and currently is a corporate finance/mergers and acquisitions partner with Gowling Lafleur Henderson in Calgary. Richard's main areas of expertise include corporate governance and securities law where he represents oil and gas companies, royalty trusts and income funds.

Mr. Gunderson is currently a director of Shiningbank Energy Income Fund. Prior to his retirement in 2003, Mr. Gunderson spent many years in the oil and gas industry holding positions such as Vice President, Economics and Planning for Canadian Superior Oil Ltd. and Manager of the heavy oil division of Mobil Oil Canada and working with Mobil in a planning capacity in New York and Fairfax, Virginia. Upon leaving Mobil in 1990, Mr. Gunderson joined Bowtex Energy Canada Ltd. as Vice President of Business Development and later as President of the Company. Mr. Gunderson joined Sayer Securities in 1994 and worked as an associate until July 2003.