Company Overview
National Fuel Corporation is an independent natural gas producer and operator of wells located primarily in Utah (33 operated and 37 non-operated wells) and Colorado (48 operated and 11 non-operated wells). The Company was incorporated in the state of Colorado in May, 1971. Over the ensuing years, it has grown through emphasizing operational efficiencies and acquiring numerous producing properties and undeveloped leases. From a strategic perspective, NFC concentrates primarily on the acquisition of proven producing properties and close-in development projects. Exploration risk is mitigated by working with industry partners under standard farm-out arrangements.

Management

J. C. Thompson is Chairman of NFC and NFM, as well as NFC’s Chief Executive Officer. He earned a Bachelor of Science degree in Geology from Stanford University and holds a Master of Business Administration from the University of Colorado at Denver. He also attended Harvard University’s Advanced Management Program. He has been active in the oil and gas business since 1948, both as an exploration geologist and producer. As a geologist, one of his best-known discoveries was in the early 1960’s, with the Montana oil field known as “Fred & George Creek.” In the late 1960’s, he helped develop natural gas in the Westwater area of Utah that today is one of the cornerstones of NFC’s activities. Over the years, he has managed numerous producing property and undeveloped lease acquisitions in addition to overseeing day-to-day business matters. Today, he manages technical operational and development matters related to NFC and represents NFC’s interests in NFM. He also has primary responsibility for maintaining banking facilities for both NFC and NFM.

Diane Thompson, NFC President, worked four years at NFC in the early 1980’s before resigning to pursue post-graduate studies. She re-joined NFC in March 2002 as Vice President of Planning & Development and has assumed day-to-day management responsibilities and strategic planning roles at NFC in addition to backing up J. C. Thompson with regard to maintaining NFC and NFM banking facilities. She earned a Master of Business Administration degree with an emphasis in Energy Management from the University of Denver and has nearly 20 years of combined experience in energy, investment banking, credit and international finance.

Andrew M. Busch, Vice President of Operations, joined NFC in 1991. He ensures that Company wells are operated safely and in conformity with governmental regulations and is the primary contact for regulatory agencies that inspect field operations for environmental compliance. He works in conjunction with executive management to develop annual production budgets that maximize operating profit, and has primary responsibility for meeting agreed production objectives. He also makes recommendations to management on production enhancements, oversees remedial work on wells, and ensures that well expenses are allocated equitably and accurately.