KEP II Fund – Portfolio Companies

Black Swan Energy Ltd. - Black Swan is a Calgary-based private start-up company, focused on creating an intermediate E&P company targeting 10,000-20,000 boe/d in 4-7 years. The company is pursuing tight oil, liquids-rich natural gas and medium oil opportunities in Western Canada. The Black Swan management team and board of directors are well known to KERN and have had previous success in senior management roles at Talisman Energy.

Cequence Energy Ltd. – Cequence is a Calgary-based exploration and production company that is pursuing a balanced strategy of developing resource style opportunities augmented with complementary acquisitions. The company is led by a well regarded management team who has successfully built and sold three entities previously.


Cobalt International Energy – Cobalt is a Houston-based public oil and gas company established in late-2005 by a team that includes former senior executives of Unocal, BP, Mobil and Ocean Energy. Cobalt’s shares are traded on the New York Stock Exchange under the trading symbol CIE. Cobalt’s strategy is risk-managed high-impact exploration and development, with a focus on the US Gulf of Mexico and West Africa.


Connaught Oil & Gas Ltd. Connaught is focused on conventional and unconventional targets in Western Canada, England and Northern Ireland. The Connaught team is comprised of individuals with extensive experience in grassroots exploration in various basins and specific non-conventional experience.

Corex Resources Ltd. - Corex is a private Calgary based junior oil and natural gas company focused on building shareholder value through development drilling opportunities and pursuit of quality, complementary farm-in opportunities, accretive acquisitions, and internally generated exploration opportunities.

Fairfield Energy Limited – Fairfield is a U.K.-based private company developing oil and gas assets in the North Sea. The team has substantial experience in this area, with each of the senior management team members having broad experience in oil and gas, much of which is in the North Sea.

Legacy Oil + Gas Inc. – Legacy is a public company, recapitalized in 2009 and led by the former President & CEO of Mission Oil and Gas
Inc. The company is focused on predominantly light oil opportunities in Saskatchewan and Manitoba, growing through a targeted
acquisition and consolidation strategy, coupled with development and exploration drilling.


Seven Generations Energy Ltd. - Established in May 2008, Seven Generations is a Calgary-based private energy company focused on developing non-conventional resource plays in Western Canada. The CEO, Pat Carlson, built and led three successful private energy companies including North American Oil Sands. The team has a strong technical orientation, which is complemented by a seasoned business development group.


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