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In March 2004 Glenn Labhart formed Labhart Risk Advisors Inc., a corporation providing expertise energy risk management consulting, analytical and business strategy services.

A recognized authority on trading and risk control, Labhart has more than 15 years of experience in the design and implementation of sound risk management processes and policies and has been a leader in helping the industry define today's risk environment and plan for the uncertainties of the future.

Glenn is the first energy-industry risk officer to receive the Financial Risk Manager of the Year Award from the Global Association of Risk Professionals (GARP). Glenn now serves as the Chairman of the Energy Risk Diploma program for GARP and he is also a board member for the International Risk Who's Who Organization.

From August 1997 to March 2004, Glenn was senior vice president and chief risk officer for Dynegy Inc responsible for the corporate risk oversight of the foreign exchange, assets and energy commodities revenue pool. In 2002, he assumed management of the company's credit risk and corporate insurance and, upon the acquisition of Northern Natural Gas Pipeline Company developed the risk management program for transportation and storage services.

While at Dynegy, 2003, Glenn was charged with the development of all risk management applications in the Openlink trading system. This incorporated portfolio design, deal structuring, risk analytics and real time position reporting on an intranet web based solution.

From 2002-2004, at the request of the Dynegy Audit Committee, he conducted internal investigations in concert with outside legal counsel to provide an assessment of industry practices to the Commodity Futures Trading Commission, Securities and Exchange Commission and Federal Energy Regulatory Commission.

During the time period at Dynegy, Glenn led the independent valuation of due diligence for all mergers and acquisitions that included European, Australian, Latin American and US based transactions. As a result of the merger activity, Glenn served as a Board member for subsidiary companies from Dynegy acquisitions.

Prior to joining Dynegy, Labhart was head of risk management at El Paso Energy for energy trading and marketing, and prior the merger with Tenneco Energy the trading control officer. Earlier in his career, he worked for Tricentrol PLC, the Metallgesellscaft Corporation and Neste Oy, the national Finnish oil company.

In these positions he acquired a solid background in physical trading of domestic and international products and formed business liaisons in South and Central America, the UK, Africa, the Middle East and all pipeline and waterborne US regions.

During his trading and risk management career, Glenn was involved in many asset based transactions to include crude oil and refined product storage facilities, crude oil physical transportation, countertrade and trade finance agreements for crude oil and refined products, crude oil processing agreements, refinery acquisition, evaluation of tolling agreements and generation facilities, and corporate merger activities.

His professional affiliations include board memberships with GARP, the Mays Business School at Texas A&M and the Abilene Christian University College of Business Administration Advisory Council. He has also been a representative to the New York Mercantile Exchange (NYMEX) Natural Gas Advisory Committee and a member of the GARP Energy Risk Committee and the DEDMI (Development of Energy Derivative Market in India .

Labhart is a frequent lecturer on risk management issues, and, in particular, the implications of the Sarbanes-Oxley Act to audiences including industry associations, training seminars, MBA programs and universities such as Rice University, Texas A&M University and Columbia University on behalf of the New York Mercantile Exchange.

Glenn holds a B.B.A. from the Abilene Christian University and is a graduate of the Rice University Executive Management Program. He is also a life member of the National Eagle Scout Association.

Glenn Labhart
Labhart Risk Advisors
Office 281.352.5785
Fax 281.679.7228
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April Labhart is a Certified Public Accountant specializing in risk management with a comprehensive background in project management, systems implementation, accounting, financial reporting, and internal controls. She has held leadership positions with four major Houston-based energy companies, BG LNG, Dynegy, El Paso Energy, and Tenneco Energy.

April has gained expertise in energy markets, currency, interest rate, risk reporting, and policy development. She has technical expertise in business system implementation, quantitative risk concepts, forward curve modeling techniques, mark to market and FAS 133 accounting. She has direct experience with the control requirements of Sarbanes Oxley 404, and external financial disclosure.

Prior to joining Labhart Risk Advisors, April served as the Director of Risk Control for BG LNG Service, LLC where she was responsible for all the elements of the middle office risk management function. She was charged with the development of trading and risk policies, processes and procedures consistent with the corporate business model. She served as the business project manager of all trading and risk reporting applications including Nucleus, Oracle, TIBCO, FEA, and Cognos reporting.

In her role as the head of commodity risk oversight at Dynegy, she reported quarterly to the Audit and Risk Committee, chaired the Commodity Risk Committee, and served on the Ethics and Compliance and Disclosure Review Committees. April performed strategic evaluation and due diligence related to corporate mergers, acquisitions, and structured transactions. She was responsible for the global corporate risk oversight of commodity trading in the USA, Canada, and Europe including the management of interest rate and foreign exchange risk. In that role she developed and internalized concepts such as Value at Risk, Risk Adjusted Return on Capital, and risk capital charges for the trading organization and executive management.

Prior to joining Dynegy, April worked at El Paso Energy Marketing in Risk Management. She directed a professional staff of up to thirty risk professionals responsible for deal entry, P&L reporting, financial settlements, and confirmations. She led the conversion of Tenneco Energy Marketing Company's risk portfolio into El Paso's risk system (Risk Works) improving data structure, controls, and reporting capabilities.

April spent fifteen years at Tenneco Energy and Tenneco Oil Company in a variety of accounting roles where she gained extensive experience in Accounting system implementations, natural gas, crude oil, natural gas liquids, and refined products accounting, as well as financial reporting, and budgeting for both regulated and non-regulated entities.

April received her B.B. A. in Accounting in 1979 from the University of Houston where she graduated Magna Cum Laude. She became a Certified Public Accountant in1985 and in that same year was the recipient of Tenneco Oil Processing and Marketing's "YWCA Woman of the Year" award. April completed the Rice University Executive Management Program in 1999.

She is a member of the Global Association of Risk Professionals and the Texas Society of Certified Public Accountants.


April Labhart
Labhart Risk Advisors
Office 281.352.5785
Fax 281.679.7228
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