Richard D. Rinehart

President and Founding Principal

Richard D. Rinehart is president and founding principal of Kestrel Resources, Inc. and a principal of PetroCap, Inc. Kestrel Resources, Inc. is a privately owned oil and gas operating company. He served as Director of Coopers & Lybrand's Energy Systems and Services Division prior to the founding of Kestrel Resources, Inc. in April 1992. Prior to joining Coopers & Lybrand, he was chief executive officer/founder of Dawn Information Resources, Inc., a leading oil and gas asset administration and software service organization formed in 1986 and acquired by Coopers & Lybrand in early 1991. Also, during this time, Mr. Rinehart arranged a significant acquisition for an independent company. Mr. Rinehart served as CEO of Terrapet Energy Corporation which was active in property acquisitions and transactions involving the restructuring of financially impaired oil and gas companies during the period 1982 through 1986. Prior to the formation of Terrapet in 1982, he was employed as President of the Terrapet Division of E.I. DuPont de Nemours and Company. He was responsible for all aspects of the activities of the Terrapet Division which included managing DuPont's participation in oil and gas partnerships and joint ventures, covering both development and exploration programs.

Before its acquisition by DuPont, he served as CEO and President of Terrapet Corp., a privately owned E & P company. He was directly responsible for the development and execution of the company's business plan and consulting practice. Before the formation of Terrapet Corp. in 1972, he was manager of supplementary recovery methods and senior evaluation engineer with H. J. Gruy and Associates, Inc., Dallas. Clients included major and independent oil companies, foreign governments, leading financial institutions and large industrial concerns.

Prior to his association with the Gruy firm, he was a partner of Petroleum Engineering Associates of Laramie, Wyoming, specializing in consultation and presentation of short courses related to thermal recovery, water flooding and advanced recovery techniques to industry and government personnel. During this period, Mr. Rinehart served as a faculty member of the Department of Petroleum Engineering at the University of Wyoming with responsibility for instruction in the areas of property evaluation, engineering economy, reservoir mechanics, natural gas engineering and log interpretation.

Mr. Rinehart has received Bachelor of Science degrees in Mechanical Engineering and Business Management from the University of Colorado and a Master of Science degree in Petroleum Engineering from the University of Wyoming. He is a registered professional engineer and has published in the areas of operations research, thermal recovery and gas storage.