Specializing in Appalachian Basin Natural Gas Investments
Cliff Brown

Mr. Brown has more than 35 years of energy advisory, executive management and investment banking experience specializing in the formation and implementation of rapid growth businesses and joint ventures.

Prior to forming BG Partners with Steve Gillespie in late 2000, Mr. Brown was President of Equitable Production Company (EPC), the largest operating division of Equitable Resources (NYSE – EQT) until June 2000. At that time, gas reserves were 2.3 trillion cubic feet, production exceeded 250 million cubic feet daily and assets exceeded $1 billion. Prior to his EPC position, Mr. Brown’s was Executive Vice President of Statoil Energy and President / CEO of Statoil’s natural gas division, Eastern States Oil & Gas, which was acquired by EQT in February 2000. During 1994 to1999, Mr. Brown built Statoil and its predecessor companies into the largest, most active and most profitable operator in the Appalachian basin.

During 1987 to 1993, Mr. Brown was an independent consultant and investment banker. His primary activities were the formation and ongoing participation in certain exploration joint ventures. Separate ventures were formed on behalf of Ultramar in 1987 in the Gulf Coast US and in Western Canada involving commitments of $100 million. Formation of the 250,000 acre CHAP exploration venture on the Navajo Indian Reservation in Western US occurred in 1988. Mr. Brown was directly involved in building the venture management team and continued to participate in management on behalf of the six non-operating Australian partners until 1993. This consortium conducted the largest on-shore seismic program in the US in 1988-89 and invested more than $50 million developing the acreage. The value of the venture had increased to $150 million by 1991 when Mr. Brown sold his affiliate, C.A.B. Resources.

During 1980 to 1986, Mr. Brown was a Senior Associate for Gaffney, Cline & Associates, an international engineering and advisory firm. His efforts were focused on strategic planning, property and corporate valuations, investment banking and investment due diligence assignments. Mr. Brown had an integral role in the reorganization of four operating divisions or companies. He was most active in projects and for clients throughout the US, Australia, United Kingdom and Canada as well as other international areas.

From 1972 to 1980, Mr. Brown worked for Riggs National Bank in Washington, DC in two petroleum related capacities. In 1978, he conceived and established an energy lending division, serving as Vice President and Manager. Prior to that, he was a Senior Petroleum Investment Analyst in the Trust Department. During two temporary leaves of absence in 1975 and 1976, Mr. Brown worked offshore in the Arabian Gulf and Gulf of Mexico for Rowan Companies.

Mr. Brown has MBA and BBA degrees from George Washington University, majoring in finance.



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