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A. Dax Srivastava
1. PROFESSIONAL BACKGROUND
A. DAX SRIVASTAVA
2012 to Present Chairman & CEO
Maverick Energy Inc.
1998 to Executive Chairman
Present Maverick Resources Ltd.
January 2006 Executive Chairman & President
to July 2006 Petrowest Services Ltd.
2002 to September 2003 Co-Chairman & President
(Sold in August 2003) Big Sky Exploration Ventures (Alberta) Ltd.
September 1996 Vice President Marketing & Business Development
to February, 1998 Lift Systems Inc. (Inno-Flow Technologies)
1991 - 1995 Vice President & Chief Operating Officer; Director
Bayridge Resources Ltd.
Mr. Srivastava, businessman, was educated at the University of Calgary (Scurfield Hall)
where he earned a Bachelor of Commerce Degree in Finance (1987). He was accepted
by Harvard University in 2014 in the Executive MBA program.
During 1988 to 1990, Mr. Srivastava worked with Metro Financial Group Inc. in the
areas of Marketing and Customer Development in respect of tax-assisted, limited
partnerships in commercial real estate across Canada.
In early 1991, he co-founded Bayridge Resources Limited (through the formation of two
separate limited partnerships and a drilling fund) and acted as its Vice President and
Director until March, 1995 where he was responsible for all aspects of development,
exploitation and exploration for the company's assets in Alberta, British Columbia and
Saskatchewan as well as overseeing the activities of a staff of fifteen. Mr. Srivastava,
with his associates, raised a total of $9.4 million privately to finance Bayridge Resources
Limited's acquisitions and drilling activities. Bayridge Resources Limited's daily
production peaked at approximately 1800 BOE/D prior to its sale in 1996 to an energy
income trust for approximately $27 million.
In conjunction with the Prime Minister's trade mission to Asia in January 1996 Mr.
Srivastava assisted and represented Canadian Fracmaster Ltd. and Chauvco Resources
Ltd., as consultant, for oil and gas opportunities in India. A Memorandum of
Understanding was formed and executed between Canadian Fracmaster Ltd. and their
Indian counterpart. Beginning in March 1996 through to January 1998 he acted as
consultant to Ranger Oil Ltd. in Libya.
2. PROFESSIONAL BACKGROUND
A. DAX SRIVASTAVA
2
In September 1996, he joined Inno-Flow Technologies Inc. (L.I.F.T. Systems Inc.) as
Consulting Vice President, Marketing and Business Development where he organized
private placement funds and assisted in its Initial Public Offering. Mr. Srivastava also
identified a target acquisition (RJV Gas Field Services Ltd.) on behalf L.I.F.T. in the $60
million range.
During late 1997 through to March 1998, Mr. Srivastava assisted the world's third largest
seismic company based in Houston, Texas (through their Canadian subsidiary – Solid
State Geophysical) establish the initial elements of a joint venture in Algeria. Beginning
in May 1998 Mr. Srivastava consulted with Bonus Wells Services Ltd. for a potential
joint venture in North Africa.
In July 2002 he co-founded Big Sky Exploration Ventures (Alberta) Ltd. with initial
capital of $500,000 for shallow natural gas projects in Alberta. Big Sky was sold to a
private buyer in August 2003 for $3.3 million.
Between January to July 2006, Mr. Srivastava acted as Chairman and President of
Petrowest Services Ltd. where he assisted in the organization of Petrowest’s $300 million
Initial Public Offering (“IPO”), including all relevant aspects of its formation, target
acquisition analyses that comprised nine energy, services-based entities in central
Alberta, purchase price modeling, financial analyses, investment banking requirements
and IPO marketing material preparation as an energy services trust.
In 1998, Mr. Srivastava founded Maverick Resources Ltd. with a view of acquiring high
quality assets in western Canada. He presently acts as its Chairman and CEO.
In 2012, he founded Maverick Energy Inc. and presently acts as its Chairman and Chief
Executive Officer. Mr. Srivastava successfully raised $18 million to drill and develop oil
and gas properties in central Alberta. The company has positioned itself to grow
organically combined with strategic, value-added acquisitions in western Canada.
Maverick Energy Inc. also has a mandate to seek strong international opportunities with
established partners.
In 2010, Mr. Srivastava co-founded NWP6 UK. Ltd., to manage and operate a
hydroponic growing business in India, under license from its Spanish joint venture
partner. Since its inception, the business has experienced an IRR greater than 50% per
annum. In 2015, he has expanded his interests in this industry in India through a ring-
fenced project in northern India comprising an initial 200 greenhouses representing
approximately 2.2 million square feet of growing space for 8-10 varieties of lettuce crops.
The business is projected to have a terminal market value at the end of year 5 of
~USD$175 million.
Through his years of experience within the oil and gas industry and business, Mr.
Srivastava has refined significant and valuable interpersonal skill sets including high
level negotiating, merger and acquisitions expertise, identifying target acquisitions and
formulating successful and creative financing structures. Over the past 20 years, Mr.
3. PROFESSIONAL BACKGROUND
A. DAX SRIVASTAVA
3
Srivastava has assisted in financings exceeding $600 million. As a senior executive, he
has proven and created significant value for his private shareholder base over the past 25
years within the oil and gas sector.
At a community level, Mr. Srivastava served as President of the Board of Directors of
Renfrew Educational Services from 1992 to 1995, Calgary's largest private school with a
population of approximately 2500, catering to the needs of both typical as well as non-
typical children where he was responsible for fundraising and overall corporate
governance. From September 1998 to January 2003, Mr. Srivastava served a member of
the Management Committee of Special Olympics Calgary involved with fundraising and
program management.
ADDITIONAL PROFESSIONAL AND MANAGEMENT DEVELOPMENT
Management and Business (Highlights)
Oil & Gas Property Evaluation – 2014, 2012, 2010, 2007, 2003, 1996
Oil and Gas Conferences – 2015-2010, 2008-2004
Capital Markets and the Petroleum Industry – 2014, 2010, 2005
Mergers and Acquisitions in Canada – 2015, 2013, 2009, 2006-1995
Insight Seminar – Negotiating Purchase and Sale Agreements – 2004, 1993
Insight Seminar – Going Public – 1993
Negotiating Skills and Techniques – 1994
PERSONAL DATA
Marital Status: Married, 4 children
Interests: Antique Autos, literary composer, reading, fishing, basketball
Address: 24 Church Ranches Blvd., Calgary, Alberta, Canada T3R 1C1