Board Committees

As the business matures the Board intends to establish, seek the recommendations of, and delegate responsibilities to certain Committees of the Board. Any such delegation will not relieve the Board of its overall responsibilities and the Board will always retain the right to supervise, review and approve Committee activity and business. The Committees will review specific aspects of NiQuan Energy’s business operations and affairs as will be set out in definitive Committee mandates and terms of references. The Committees will facilitate smaller and more intimate forums than full Board meetings and will be conducive to stimulating deeper discussion on assigned subjects. The Committees will be able to make recommendations to the Board for appropriate determination and will not be able to take action or make decisions on behalf of the Board unless specifically mandated to do so. The Committees which may be established may include any one or more of the following: Audit and Risk Committee; Governance and Ethics Committee; Health & Safety, Security and Environment Committee; and Human Resources Committee, as appropriate. The members of such Committees will be “independent” non-executive Directors and certain officers will attend as determined. The Committees will be in addition to other non-Board committees such as the Executive Committee and Leadership Committee.