Lord_TERA_exhibit.doc

Thomas Lord - Principal
Is an executive with over 20 years experience in the development, marketing and trading of energy commodity products in a variety of U.S. markets.
Mr. Lord has acted as Project Manager for TERA on both domestic and international engagements relating to wholesale energy markets. His areas of experience include regulatory and wholesale market reform for the World Bank, internal risk management systems and policies implementation for both investor owned utilities and major energy consumers, and the development of innovative consulting products relating to risk identification, risk position calculation and risk exposure tolerance.
In the areas of risk management and control, Mr. Lord has assisted clients in due diligence review of risk exposure for corporate acquisitions and divestitures, internal utility policy and procedures development for fulfillment of state utility prudency reviews and the development of internal review processes for quarterly and annual earnings statements. As such, he has developed expertise in the areas of adequacy and effectiveness of internal risk management policies, procedures and processes in meeting risk management control requirements. In addition, his experience has included the examination of internal corporate pricing procedures to assure appropriate transfer pricing mechanisms to avoid internal cross-subsidization.
He has served as Vice President for Morgan Stanley Capital Group, Inc. where he performed all physical gas trading activities for a speculative portfolio with daily volumes occasionally exceeding 1.25 Bcf/day. Trading locations included much of the lower 48 United States.
The transactions at Morgan Stanley covered index and fixed price physical transactions, conversion of fixed price transactions to index, storage capacity acquisitions, storage gas purchases and hedging, transportation purchases and sales, the purchase of synthetic transportation, swing swap and daily physical transactions and physical transactions with embedded option components. They also included financing products such as pre-payment for long-term supplies and associated tax-exempt financing. The scope of trading covered all major US supply and market areas.
Mr. Lord's experience also includes extensive use of natural gas futures, options, cross-commodity, and other structured risk management tools to provide price certainty and predictability for producers and consumers of gas. At Morgan Stanley, he was responsible for developing proprietary trading products for utility, industrial consumer, and producer clients supporting their hedging and trading activities.
Mr. Lord was also assisted in the design and implementation of internal software systems to assist in the maintenance of transactional information regarding speculative transactions, the calculation of risks associated with those transactions and the management of outstanding risk positions due to potential market price movements.
These activities required a thorough understanding of market activities, client needs, substantial client interaction, client education, and trust. He has substantial knowledge of pricing product development, real-time physical commodity management, and inventory management.
Mr. Lord has also served in various managerial capacities. As a consultant, he assisted cogeneration project developers with fuel procurement decisions. These procurement decisions included consideration of appropriate long-term supply and transportation structures, supplier negotiations, and presentation of the chosen procurement decisions to project finance providers. He also performed due diligence reviews on behalf of lenders.
Mr. Lord has managed mid-stream natural gas production and processing assets and marketed gas to a variety of end-user, cogeneration, and gas electric utility customers throughout the country. In these positions he has managed a trading staff for natural gas liquids trading for BP Gas. In addition, he has performed energy-related capital and operating financial analysis for acquisition, construction, divestiture and budgeting purposes.
He has educated physical traders and marketers about futures and OTC instruments, linked trading and hedging strategies, and integrated trading activities with risk management activities. He developed reporting and accounting requirements for management, and formalized a derivative-linked marketing strategy.
Mr. Lord has served in a variety of managerial roles with a large east-coast electric utility. His experience includes responsibility for the firm's negotiations at FERC.
Mr. Lord holds the J.D. degree from the University of Denver in Denver, CO. He also holds the B.S. in mechanical engineering and the B.A. in government and public policy from Cornell University in Ithaca, NY. He has completed graduate studies towards a Masters degree in mineral economics from the Colorado School of Mines.

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