accumyn energy brochure

EXPERIENCED PROFESSIONALS CREATIVE SOLUTIONS LASTING VALUE

Economic Damages Forensic Accounting

Valuation Consulting Services

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Contents

Firm Overview 3

Our Credentials 5

Why Us? 6

Professional Experience 7

Professional Biographies 9

Representative Engagements 23

Contact Information 50

About Our Name 51

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Firm Overview

Accumyn provides independent, objective and insightful expert services to:

• The Legal Profession • Businesses• Governmental Entities• Individuals

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Firm Overview

• Valuation

• Economics

• Damages and lost profit calculations

• Forensic Accounting

• Insurance

• Corporate Finance

Our highly credentialed experts include specialists in:

• Statistics

• Digital Forensics

• E-discovery

• Energy

• Engineering

• Construction

We assist debtors and creditors with operational and financial rescue services, business turnaround, and bankruptcy

consulting.

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Our Credentials

Intellectual PropertyForensic Accounting

Financial and Economic DamagesEnergy Economics

Valuation Services Tax Planning and StructuringInsurance and Risk Management Tax Controversy ResolutionCorporate Turnaround & Restructuring Capital Project ManagementDigital Forensics and E-DiscoveryBankruptcy Administration Services Transaction Advisory Services

Interim ManagementLitigation Technology

Certified Public Accountants (CPA) Certified in Financial Forensics (CFF) Accredited in Business Valuation (ABV) Accredited Senior Appraisers (ASA) Certified Valuation Analysts (CVA) Certified Computer Examiner (CCE) Professional Engineers (PE) EnCase Certified Examiner (EnCE) Certified Fraud Examiners (CFE) Ph.D. Economists

Over 50 highly credentialed and seasoned professionals, providing strategic advisory services, independent analysis, and expert testimony.

Diverse practice area scope:

Experience to produce results:Big Four accounting firm audit, tax, and business advisory experienceExecutive management experience in varied industries, including, Insurance, Banking, Oil & Gas,Refinery & Petrochemicals, Engineering & Construction, Healthcare, Hospitality, Software Extensive expert testimony experience in all forums

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Why Us?

• Leadership and Depth of KnowledgeAccumyn’s professionals, including executives with years of hands‐on experiencein valuation and economics, accounting, finance, operations, management,engineering and construction, provide seamless and complimentary serviceswithin any engagement. Our experts are connected industry‐wide, extendingour reach to satisfy a client’s needs.

• Solutions and ValueOur breadth of services, including valuation, transaction advisory, disputeanalysis, and corporate rescue, present opportunities to develop credible,executable solutions of maximum value. Our experts employ fact‐basedtechnical and financial methodologies built upon a proven track record incomplex, high profile situations. In‐house technology resources, support systemsand team members promoting efficiency add value to our engagements.

• Speed of Execution and Proactive ApproachOur professionals focus on delivering rapid results and credible planswith achievable milestones; coordinating short, medium and long‐termobjectives.

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Professional Experience Our professionals have extensive experience providing expert testimony, serving in executive positions in industry,

and leading complex accounting, economic, valuation and financial advisory/restructuring assignments.

Patent, Trademark and CopyrightInfringement

Upstream, Midstream and Downstream Energy Issues

Misappropriation of Trade Secrets Damages and Lost Profits

Forensic Accounting Accounting Irregularities and SEC Issues

Tax Planning and Structuring Valuation

Tax Controversy Resolution Fraudulent Activities

Banking and Financial Institutions Appointment of a Bankruptcy Trustee

Anti-Trust GAAS and GAAP Standards

Insurance Claims Mergers and Acquisitions

Post-Acquisition Adjustments Cause of Company Failure or Distress

Contract Disputes Regulatory Pricing Disputes

Impact of Government Regulations Solvency and Insolvency

Preferences and Price Fixing Reorganization Plan Feasibility

Disclosure Statements Company Viability

Construction and Engineering Disciplines Standard Industry Business Practice

Accountant’s Liability Malpractice E-Discovery and Complex Litigation

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Breadth and Depth of Experience

Our experts provide comprehensive management consulting services in energy issues enhanced by Accumyn’s unique assemblage of professionals in operations management, engineering and construction, accounting, finance, and economics. Areas where we can add value include:

• Asset valuations and economics

• Oil & Gas production analysis and valuations

• Refining & petrochemical operations

• Business interruption claims

• Facility operations analysis

• Feasibility and risk analysis

• Tax auditing and forensic accounting

• Transfer pricing

• Contract negotiations and interpretation

• Contract compliance and administration

• Insurance claim services

• Corporate restructuring

• Engineering and construction management

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Professional Biographies

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Scott A. BayleyCPA/ABV, CFE, CVA [email protected]

Mr. Bayley is the founder of Accumyn and serves as its President and Managing Director. He has served public andprivate businesses, governmental entities, and law firms with auditing, accounting, financial, and economic consultingservices for over 25 years. A primary focus of his practice is fraud and forensic accounting examinations, analysis ofdamages, preparation of expert reports and expert testimony regarding accounting disputes, financial and economicclaims, and valuation analysis.

Mr. Bayley has extensive experience in forensic accounting, auditing, funds tracing, the analysis of Generally AcceptedAccounting principles, and the application of financial disclosure rules. In connection with the economic analysis ofspecial purpose entities (“SPEs”) and related accounting rules, he has been directly responsible for providing experttestimony in arbitration and related state court litigation in connection with alleged improper financial reporting relatedto an off-balance sheet special purpose entity (“SPE”) investment by a subsidiary of Enron Corp. His disputeconsulting and litigation support experience includes numerous matters requiring forensic accounting, valuationanalysis, fraud and misrepresentation analysis, funds tracing, and claims of breach of contract, lost profits, intellectualproperty infringement, misappropriation of trade secrets, antitrust violations, business interruption, shareholder andpartner disputes, lender liability claims, and wrongful termination claims.

Most recently, Mr. Bayley was a Managing Director for LECG, LLC in Houston. Previously he has been Partner-in-Charge of financial advisory services at BDO Seidman, Managing Director for litigation, forensic accounting andvaluation at KPMG, Senior Manager in dispute analysis and corporate recovery services at Price Waterhouse, andManager in audit and business advisory services for Arthur Andersen. He holds a Bachelor of Business Administrationdegree in Accounting and is a Certified Public Accountant. He is Accredited in Business Valuation by the AmericanInstitute of CPAs and is a Certified Fraud Examiner and a Certified Valuation Analyst. Professional Affiliations includethe American Institute of Certified Public Accountants, the Texas Society of Certified Public Accountants, theAssociation of Certified Fraud Examiners, the National Association of Certified Valuation Analysts, the TurnaroundManagement Association and the Licensing Executive Society.

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Robert J. Boudousquié, CPA/ABV, CFE, CVAMr. Boudousquié is a Director at Accumyn. His forensic examination experience rangesacross many business sectors. Accumyn engagements he has managed have involvedconstruction management claims and disputes and financial areas of the energy industry.He has over twenty five years of consulting and hands-on experience directing damageanalysis and valuation work for engagements involving management consulting,accounting, and financial management of capital projects. Mr. Boudousquié has abachelor’s degree in business administration and accounting.

A. Charles Tormo, CPA/ABV, CFE, CVAMr. Tormo is a Managing Director with extensive experience in valuation, estimation ofeconomic damages and forensic financial analysis. Areas of focus in the construction andcapital project management sector include financial and economic consulting in litigationmatters involving breach of contract or fiduciary duty, business interruption, fraud,partner/shareholder disagreements, business valuation, and analysis of lost profits. He isa graduate of Rice University, Jesse H. Jones Graduate School of Administration, andholds a Master of Accounting and Bachelor’s Degree with a triple major in economics,managerial studies/business administration, and political science.

Luigi Calabrese, ASA, CFE, CVAMr. Calabrese is a Director at Accumyn and is experienced in business managementand assistance of clients and law firms with commercial litigation and valuationmatters. His focus is assessment of economic damages in matters involving fraud,breach of fiduciary duty, breach of contract, misrepresentation, business interference,business interruption, infringement of intellectual property, personal injury, wrongfuldeath and wrongful termination. He has an MBA degree with concentration in Financeand Accounting, Master’s degrees in Electrical Engineering, and is certified inappraisal, fraud examination and valuation fields.

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Jonathan ParryMr. Parry has twenty years’ experience working with IOC’s, NOC’s and Independents. Asa Principal Engineer he has participated in major capital projects in North and SouthAmerica, Europe, Asia, and the Middle East. At ConocoPhillips he provided oversight toLatin America, Africa, Middle East, Caspian and Russian well operations, andcontributed to their new ventures and farm-in activities. In Functional Excellence Mr.Parry defined appropriate standards and processes to manage corporate risk andenhance value. He specializes in the drilling, completion and production of complexwells. Widely published in natural gas market regional studies and commercialization.

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Ronald GuajardoMr. Guajardo is a recognized expert in the Midstream Industry, specializing in thecommercial business development of gas gathering, processing, NGL fractionation andmarketing assets. He has over thirty years of commercial and technical experiencespanning strategic planning and business development, acquisition and divestitures,asset optimization, and commercial negotiations in all phases of the Midstream Industry.Recruited into Conoco’s Management Development Program, Mr. Guajardo progressedthrough plant operations and facilities management, gas and NGL marketing, andcommercial business development positions at Union Texas Petroleum, Western GasResources and BP-Amoco.

Stephen B. TraicoffMr. Traicoff, a chemical engineer, has over thirty years of experience in the energysector focusing primarily in the areas of energy trading, risk management, andstructured finance. His background includes capital project financing, investmentbanking, and structured finance in energy-intensive industries such as refining,petrochemicals, pulp and paper, and primary metals. Commodities traded includerefined products, petrochemicals, and residual fuels. He has originated, structured, andclosed transactions in the natural gas and power industry sectors.


Ms. Milne is an experienced exploration and production professional with expertise indomestic and international new ventures, acquisitions and divestitures, and explorationand drilling operations. Areas of specific expertise include reservoir evaluation,analysis of petroleum systems and exploration and development risk, resourceassessment, and seismic and stratigraphic interpretation. She has managed a widerange of global conventional and unconventional energy projects and consultingengagements. Ms. Milne has a master’s degree in geology and is a state certifiedprofessional geoscientist and certified petroleum geologist.

Michael A. TaubeMr. Taube has over twenty years of experience in energy industry construction andoperations support involving hydrocarbon processes, primarily in areas ofinstrumentation and control. He has worked globally for oil & gas, refining andpetrochemical companies, and served as an expert in chemical plant litigation. He isproficient in steady state and dynamic modeling and project management. Mr. Taubehas led accident and unusual happening investigations, management of changeefforts, and he is skilled in HAZOP analysis. He holds a degree in chemicalengineering.

Bonnie Milne-Andrews

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David MillicanMr. Millican has over 30 years of energy related experience focusing primarily in theareas of petroleum and maritime shipping industries. He has brokered heavypetroleum products and refinery feed stocks transactions in the United States,Canada, Caribbean and Europe through a company he founded. Mr. Millican has alsoacted as a Maritime Arbitrator in cases involving product quality, charter parties, cargocontamination, contractual disputes, industry commercial practices, equipmentdamages and taxation. He also has experience negotiating equipment supply andconstruction contracts.


Laurance L. Prescott, Ph.D.Dr. Prescott, provides economic input to construction and capital project managementengagements at Accumyn. As an economist, he prepares economic damage modelsand complex statistical and large data set analysis. His work has covered a wide varietyof petroleum & chemicals markets and industries including industrial gases andindustrial chemicals, telecommunications, industrial and institutional power maintenancesystems, and industry association management. Dr. Prescott holds a PhD in economics,an MBA, and a degree in biochemistry.

Mr. James is director of the construction and capital project management practice atAccumyn. He has over thirty five years of technical and executive experience inengineering, procurement and construction of global capital projects. Beginning as afield engineer with a major EPC corporation, he has held increasingly moreresponsible positions building power, refining and petrochemical facilities andmunicipal projects. His focus has been litigation support since 2003. Mr. James holds adegree in civil engineering and is a state certified general contractor and buildinginspector.

Robert G. James, PE, CFLC

Mr. Brasseux consults and provides litigation support for claims and disputes arising onconstruction and capital projects involving exploration and production. He has morethan thirty five years of technical, supervisory, and managerial experience in drillingengineering, special projects engineering, and operations engineering with BritishPetroleum and Amoco, providing him with exceptional prerequisites to professionallyaddress almost any aspect of upstream oil and gas exploration and production. Heholds a degree in ocean engineering.

Guy R. Brasseux, PE

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Ms. Ritchey is a manager at Accumyn and provides forensic accounting, valuationservices, and prepares and critiques financial damage computations. She has servedas financial manager, administrative director, and chief financial officer, includingexecutive management responsibilities in financial accounting and treasury functions.Her business management experience has involved state and federal compliancematters, management systems implementation, and forecasting strategies. She hasled multi-disciplinary projects involving complex financial and strategic mattersincluding mergers and acquisitions, growing and downsizing of businesses, andstrategic business practices.

Maria T. Ritchey

Chip Niemann CPAMr. Niemann is a CPA and Accredited Senior Appraiser (ASA) with experience in auditing,forensic accounting and business valuation. He is a manager at Accumyn and hasdeveloped expert reports, prepared financial statements, complex financial models,damages and lost profits analysis, and discount rate analysis. He has served public andprivate businesses in a variety of industries, including oil and gas, real estate and healthcare. Prior to his current position, he was an auditor at a big four accounting firm. Hisexperience includes valuation studies and economic and industry analysis related tofinancial fraud, breach of contract, employment disputes, personal injury and breach offiduciary duty claims.

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Geoff Chambers Mr. Chambers is a chemical engineer with an outstanding level of hands-onexperience in project management, process engineering and design, and plantoperations gained at global engineering and construction contracting and processtechnology firms in the hydrocarbon processing industry. He provides expert input toany facet of chemical processes arising on engagements in the refining orpetrochemical sectors. His background includes positions as a nationally charteredengineer in the UK and department head and project manager at major EPCcontracting firms in the US. He has a Bachelor of Technology and an MSC degree inchemical engineering.


Jackie Brodecki

Robert W. Burnham, AIAMr. Burnham is a managing consultant providing professional architectural input toAccumyn’s capital project management, financial, and economic practice areas. His morethan 30 years of technical, managerial, and executive experience has involved buildingsfor major projects in numerous business sectors. Primary focus areas include all phases ofarchitectural services for commercial, medical / professional, liturgical and educationalclients. Past and ongoing projects provide him with exceptional prerequisites toprofessionally address almost any facet of architectural project development andexecution. Mr. Burnham consults on engagements addressing resolution of claims anddisputes in architectural contracting, planning, design, and construction administrationservice issues.

Ms. Brodecki is a staff consultant at Accumyn and has a Bachelor of Business Administration in Marketing degree from Mays Business School at Texas A&M. She assists with all facets of marketing and client engagements including data gathering and analysis, marketing development, industry research, spreadsheet analysis, preparation of graphs and charts, and report writing. Prior to her current position, she served as a sales representative for a multi-billion dollar beverage distributor.

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Mr. Seale has over 20 years of experience in revenue cycle operations, financial analysis,project development, and merger & acquisition management. During his time in thehealthcare industry, Mr. Seale developed statistical tools combined with powerful datamining applications to predict trends, increase speed of collections, and avoid pitfalls. Heassisted clients in the development and comprehension of discounted cash flow modelson asset expenditures and valuing their business as a whole as well as the developmentof individualized fraud detection protocols to ensure the security of cash in these medicalpractices. Most recently, Mr. Seale served as president of Orion Healthcorp, andpreviously he was a senior financial analyst at Duke Energy Corporation.

Joseph Seale CMA, CFE

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Ian Threadgold ASP

Carl M. OlandMr. Oland consults and provides expert litigation support services in quality assuranceand quality control of EPC projects. He has over thirty years of managementexperience in the profession, supporting engineering and construction of domestic andinternational power, refining, petrochemical and manufacturing facilities. His extensivebackground includes developing, managing, implementing, and initiating improvementinitiatives based on oversight and assessments of quality management systems formultiple organizations, focusing on competency of personnel responsible forimplementation, their performance, and the effectiveness of results.

Mr. McReynolds is an expert in construction defect analysis. He has more than twentyfive years of hands-on, technical, managerial and executive experience in homebuilding, remodeling, and property claims adjusting. His background includes principlepositions in custom home and remodeling firms and he has provided home buildingconsulting and subrogation and liability mitigation support as a construction expert. Hisprimary focus involves serving clients and counsel in support of litigation, arbitrationand mediation of matters involving construction disputes in single and multi-unitresidential and commercial business sectors.

Mr. Threadgold is a specialist in occupational safety and health in the petroleumindustry with almost forty years of domestic and international management and handson experience on geophysical and exploration projects executed by geophysicsorganizations and major operating companies. He holds certification in occupationalhealth and safety by the National Examination Board of Occupational Safety andHealth (NEBOSH), and is a certified OHSAS 18001:2007 Lead Auditor. Past positionsinclude chairman of the International Association of Oil & Gas Producers GeophysicalHSSE Subcommittee. He holds a bachelor’s degree in physics and geology.

John McReynolds, CLFLC, GMB, CGR

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Dr. Watson is Adjunct Professor of Finance at the Jesse H. Jones School of Business atRice University where he teaches Security and Asset Valuation. His class incorporatesfinancial theory with case studies of asset pricing in the presence of incompleteinformation, market illiquidity, differing claims on cash flows, degree of control, and othercomplexities. Dr. Watson’s previous experience includes co-founder and chiefinvestment officer of Capstone Asset Management Company and Chairman of TennecoFinancial Services.

Dan Watson, Ph.D.

Mr. Stroman has over 32 years of experience in the insurance industry. Currentlyserving as an industry consultant, he assists insurance purchasers, insurancecompanies and agents, and their attorneys, accountants and other industry advisorswith claims consulting, underwriting practices, standard of care, and other technicalassistance. Mr. Stroman has been an active participant in the Texas and HoustonAssociation of Insurance Agents since 1985, serving as President, on the Board ofDirectors, and as Chairman or Co-Chair of numerous committees.

R. Michael Stroman

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Richard Taraborelli, PEMr. Taraborelli has nearly 30 years of experience in plant engineering, corporateengineering and management of related projects. He specialized in materialsengineering, and has expertise in non-metallic materials of construction, includingfiberglass reinforced piping, and a practical knowledge of everyday corrosion andmaterials problems. He is a mechanical engineer.


Mr. White has more than 25 years of experience in the financial analysis and valuationfield. His work has been concentrated in valuation of closely held stock, tangible assetsand intangible assets. These appraisals were a result of mergers, acquisitions, estateand gift taxes and general corporate planning. Mr. White has extensive experienceperforming financial and economic analyses of operating businesses in variousindustries. This work has involved the qualitative and quantitative analysis of pastperformance and evaluation of prospective results of future operations.

Warren K. White, CFA, ASA

Mr. Welch, a Director, has been involved in the banking and savings institutionsindustry since 1978, has held senior management positions with several financialinstitutions, and has been an independent consultant to the banking industry since1987. Consulting and litigation support services by Mr. Welch have included experttestimony in matters involving banks and financial institutions, calculation of damages,forensic accounting, and accounting malpractice related to bank audits.

William R. Welch, CPA

Jerry W. Turner, CRE, FRICSMr. Turner is a Member of the American Society of Real Estate Counselors(Counselors of Real Estate) and a Fellow, Royal Institution of Chartered Surveyors.Mr. Turner assists clients with real estate economic analysis and valuationservices. His expert services include quantification of damages, transactionassistance, financial analysis, operations review and analysis, contract examinationand valuation analysis.

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Ernie Killingsworth ASA

Mr. Killingsworth serves as an aviation industry valuation expert at Accumyn Consultingand is the founder and owner of Killingsworth Aircraft Valuation Service, LLC. He hascompleted numerous appraisals and diminution of value reports on propeller aircraft, jetaircraft, helicopters and aviation related support equipment for several of the world’slargest finance and leasing companies. He also provides these professional services inconnection with financial reorganization and dispute matters, preparing expert reportsand providing expert testimony.

David N. Eliff, CPA, CFFMr. Eliff, a Managing Director, is the leader of Accumyn’s Transaction Advisory andBusiness Turnaround practice areas. He has over 25 years of professional andexecutive management experience, including positions as the CFO of publicly tradedfirms, and as interim CFO or in a lead financial advisory role. He has led equity andcreditor teams on large capitalization bankruptcies and out-of-court workouts. He isskilled in cash forecasting, cash management and liquidity monitoring. He has designedturnaround and refinancing plans for large, medium and small capitalization companies,and has led development and implementation of turnaround and restructuring plans.

Mel Sinquefield, PEDuring his 35-year career, Mel Sinquefield has served around the globe in processengineering, process safety management and HSE management. His professionalcareer has spanned the breadth of the oil and gas and petrochemical industry, including:refinery and chemical plant operations, major projects construction, drilling and welloperations, production operations, marine operations, and seismic projects.

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Hank ArnoldMr. Arnold is a computer programming and software design expert, assisting Accumyn’sclients by providing solutions to complex information technology challenges. He hasover 30 years of software design and development experience in computerprogramming, systems development, and network administration. He specializes inproviding cost effective and timely solutions to “one of a kind” problems, but has also builta significant library of solutions for processing typical data sets for industries such ashealthcare, securities trading, energy, electronic equipment; seismic exploration,trucking, gaming operations, and litigation.

Allen ParksMr. Parks is Managing Director of Oil Field Services at OFSCap. Prior to that he wasManaging Director at Global Hunter Securities. Previously, Allen founded Parks PatonHoepfl & Brown (PPHB) in 2003 to provide financial advisory expertise to the oilfieldservices sector. Before founding PPHB, he led the oil field services investment bankingefforts at CIBC World Markets and Dain Rauscher Wessels. Before that, Mr. Parks spent18 years with Dual Drilling Company starting out as a roughneck and rising through thepositions of drilling engineer, operations manager and finally Executive Vice Presidentand Chief Financial Officer. Mr. Parks has participated in a variety of transactions with anumber of public and private oilfield services companies.

Humberto RiberaMr. Ribera, a Associate Consultant in Accumyn ‘s Capital Project Management practice,and an expert in process safety performance improvement. In addition, it has a vocationas an educator, a central theme that has been repeated throughout his career, he hasbeen the development of training programs to train and impart his knowledge. With overeighteen years of experience in various segments of the oil and Gas, Mr. Ribera hasdeveloped courses to educate and prepare field staff and offices in various HSE issues,including leadership, management and HSE management, incident investigation, crisismanagement, etc.

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Dr. Grullon is a Professor of Finance at the Jesse H. Jones School of Business at RiceUniversity. He has published his work in several academic journals, including the Journal ofFinance, the Review of Financial Studies, the Journal of Business, and the Journal ofFinancial and Quantitative Analysis. He is an expert in several areas of corporate finance,including corporate investment, corporate financing, payout policy, business valuation, realoptions valuation, and mergers and acquisitions, and has provided consulting services toseveral Fortune 500 companies.

Gustavo Grullon, Ph.D.

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Representative Engagements

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Breach of Fiduciary Duty: Midstream Oil and Gas

Retained to perform analysis of financial impact suffered by shareholders as a result of director’s actions. Presented expert testimony. Work involved event study analysis to establish materiality and the connection between investor losses and director’s actions. Valuation work encompassed loss in valuing company’s transportation and storage assets together with opportunity losses suffered as a result of director’s actions.

Engagement Summary:

Engagement Description:

Expert testimony related to shareholder dispute and breach of fiduciary duty by director of publicly held company which resulted in a steep decline in the company’s stock price, the inability of the company to obtain financing, and the forced sale of other assets to meet its financial obligations.

Retained as

Expert WitnessFor

Martin Midstream Partners

Retained as

Expert WitnessFor

Martin Midstream Partners

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Economic Benefits Related to False Claim: E&P Deepwater

Provided deposition testimony related to the calculation of economic benefits to the owners of an offshore production facility pursuant to the False Claims Act and to an incident of noncompliance determined by the Bureau of Ocean Energy Management, Regulation and Enforcement. Work performed included an analysis of historical hydrocarbon production reported to the Government for royalty purposes, analysis of historical costs, royalty production payments, and capital additions.

Engagement Summary:


Litigation Support – Expert testimony related to an offshore production facility in connection with the False Claims Act.

Retained as

Expert WitnessFor

Abbott v. BP

Retained as

Expert WitnessFor

Abbott v. BP

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Energy Economics Damage Analysis: Subsea Pipeline

Retained to provide an expert report and testimony on the volume of deferred production and its economic value. The claim was alleged to be the result of damage to a methanol pipeline by a semisubmersible rig cast adrift during Hurricane Ivan. Accumyn’s economist was supported by in‐house project management and financial specialists. Judgment was entirely in favor of Accumyn’s client.

Engagement Summary:


Expert services related to claimed damages for deferred gas production due to a damaged subsea pipeline in the Gulf of Mexico.

Retained as

Expert WitnessFor

Diamond Offshore Drilling, Inc.

Retained as

Expert WitnessFor

Diamond Offshore Drilling, Inc.

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Provided expert testimony on the subject of alleged economic damages resulting from a claimed lost business opportunity in the oil field service industry expected to operate in the west Texas and eastern New Mexico geographic area. Work performed involved the review of a business valuation and lost business opportunity opinion prepared by opposing expert, including a critique of opposing expert’s compliance with professional valuation standards.

Engagement Summary:

Review and critique of damages related to a claimed lost business opportunity in the oil field services sector.


Critique of Lost Profits Claim: E&P Oilfield Services

Retained as

Expert WitnessFor

BJ Services Company, U.S.A.

Retained as

Expert WitnessFor

BJ Services Company, U.S.A.

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Engagement Summary:

Provided a current and historical financial analysis of an international contract driller, and assess possible settlement structure based on financial forecast and possible credit rating downgrade.


Financial Advisory: E&P International Contract Driller

Retained as

Financial AdvisorFor

Outside Counsel International

Contract Driller.

Retained as


Outside Counsel International

Contract Driller.

Analyzed the company's historical results, internal corporate forecast as well as current and anticipated economic conditions to develop possible settlement structures related to a Gulf of Mexico well incident. These settlement scenarios were structured to ensure that the company would remain competitive in the contract drilling industry and avoid a loss in the company’s investment grade credit rating.

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Retained as

Expert Witness For

Noel v.

Devon Energy Production, L.P., formerly known

as Chief Holdings,

LLC, et al.

Retained as

Expert Witness For

Noel v.

Devon Energy Production, L.P., formerly known

as Chief Holdings,

LLC, et al.

Securities Fraud, Breach of Fiduciary Duty: E&P Well Operations

Plaintiff alleged fraudulent inducement to sell minority ownership position to the managing partner at a price below fair market value. Expert testimony related to our analysis of valuations that formed the basis of purchase offer. Work involved financial analysis of producing assets, undeveloped acreage, and various midstream assets at various points in time in rapidly changing market conditions. Also conducted review of other relevant transactions for comparable assets.

Engagement Summary:

Retained as testifying expert in case involving the redemption of minority interest in an exploration and production company performing horizontal drilling and hydraulic fracturing operations in north Texas’ Barnett Shale.


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Work involved consolidating complex ownership structure and assessing the cash flows, profitability, and relative risks and returns provided to the transaction participants while taking into consideration complex financing guarantees, a total return swap, and a call option. Provided expert testimony in arbitration, multi‐stage litigation, and FERC proceedings that included valuation of the power purchase agreement, a fair market valuation of the plant, solvency analysis, and other acquisition and disposition options to cure alleged breach of contract.

Engagement Summary:

Detailed review of flow of funds and complex financial structure to determine effective control of a power plant acquired by Enron using an off‐balance sheet ownership structure.


Improper Financial Reporting and Breach of Contract

Retained as

Expert Witnessfor

Brazos Electric Power

Cooperative, Inc.

Retained as

Expert Witnessfor

Brazos Electric Power

Cooperative, Inc.

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Engaged by drilling contractor to analyze and quantify the contractual daily fee that the defendant exploration and production company failed to pay. Expert testimony and analysis included a liquidation damages analysis which allowed for the drilling contractor to recover its daily fee under the contract, and an un‐liquidated damages analysis which took into consideration any avoidable expenses the drilling contractor incurred while the rig was not in use.

Engagement Summary:

Expert testimony regarding damages related to a dispute over the contractual obligations of a drilling operation.


Contract Dispute: E&P Drilling Contractor

Retained as

Expert Witnessfor

Rowan Drilling Companies, Inc.

Retained as

Expert Witnessfor

Rowan Drilling Companies, Inc.

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Forensic Accounting Related to Fidelity Bond Claim

Performed forensic accounting procedures and prepared detailed critique of an insurance claim related to employee fraud in connection with a major work over of an offshore oil and gas production platform. Work included an assessment of the various alleged schemes, analysis of the insured’s methodology, review of documents purporting to support claim, accounting investigation of additional issues and facts, and recommendations to AIG regarding findings.

Engagement Summary:


Forensic accounting investigation of fidelity bond loss claim related to alleged fraud orchestrated by contractor responsible a major work over of an offshore oil and gas production platform.

Retained as

Expert WitnessFor

AIG Technical Risk

Retained as

Expert WitnessFor

AIG Technical Risk

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Expert witness report and analysis addressed sequence of events timeline, comparison of refurbishment work to similar rigs, analysis of the rig’s specifications and capabilities, exploration and development drilling in the Gulf of Mexico, and analysis of similar rig class utilization and day rates. The matter was settled pretrial.

Engagement Summary:

Loss of income claim between a Gulf of Mexico drilling rig contractor and the owner of a mobile offshore drilling unit as a result of a fire on the rig, and other delays in the completion of the refurbishment work.


Business Interruption Claim, Rig Fire: E&P Well Operations

Retained as

Expert Witnessfor

AIG Insurance

Retained as

Expert Witnessfor

AIG Insurance

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Provided expert report detailing how the negligence in rebalancing a portfolio of put and call options resulted in multimillion dollar damages to the producer. The analysis involved pricing of the options and a collar hedging strategy, and comparing those results with the producer’s results from operations. The matter was settled pretrial.

Engagement Summary:

Professional malpractice dispute between an oil producer and an investment bank over a failed hedging strategy.


Professional Malpractice Dispute: Oil & Gas Hedging

Retained as

Expert Witnessfor

St. James Capital Partners,

Retained as

Expert Witnessfor

St. James Capital Partners,

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Analyzed business interruption claims resulting from Exxon Valdez oil spill in Alaska. Work included the analysis of historical and projected market share of salmon canneries, sales revenue, operating costs, additional expenses and mitigation. Advised the client on settlement options and participated in settlement negotiations.

Engagement Summary:

Forensic analysis and valuation of complex business interruption claims resulting from massive oil spill.


Oil Spill Business Interruption Claims Analysis

Retained as

Business Interruption

Claims Consultant

for

Exxon

Retained as

Business Interruption

Claims Consultant

for

Exxon

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Provided expert testimony refuting a claim for lost profits arising from potential hedging of natural gas production sales as part of a contemplated debt financing. Analysis and opinions addressed the plausibility of the claimed economic damages in the context of actual forward market conditions at the time the alleged damages occurred, the financial condition of the company, and the feasibility of the bank financing upon which the damages depended. Arbitration panel rejected plaintiff’s damage claim, awarding zero damages.

Engagement Summary:

Rebuttal of operating partner’s damage claim premised on obtaining bank financing and executing a presumed hedging strategy.


Bank Financing and Hedging Claim by Oil Company

Retained as

Expert WitnessFor

Toby Shorand

Seashore Investments

Trust

Retained as

Expert WitnessFor

Toby Shorand

Seashore Investments

Trust

www.accumyn.com 36

Expert testimony rebutting economic losses claim. The E&P company alleged damages from being unable to execute a planned work over of various wells due to capital constraints caused by down hole failures. Work performed included analysis of lost profits, oil and gas activities, reserve and production estimates, drilling interruptions, and restoration and recovery expenses. The arbitration panel issued ruling denying the consequential damage claims.

Engagement Summary:

Expert testimony in arbitration proceeding regarding economic damages sought by an exploration and production company related to a down hole tool failure.


Business Interruption Loss Claim: E&P Well Operations, Down Hole Tool Failure

Retained as

Expert Witnessfor

Schlumberger Technology Corporation,

Retained as

Expert Witnessfor

Schlumberger Technology Corporation,

www.accumyn.com 37

Gross Mismanagement Claim: Power Plant

Provided expert reports and testimony in connection with an allegation of gross mismanagement of the largest integrated gasification combined cycle power plant ever to be built. Analysis was also performed on the change in budgeted line items due to the cost implications associated with changes in project scope, design, and schedule throughout the development of the new power plant.

Engagement Summary:


Expert testimony services for governmental agency representing utility ratepayer interests.Retained as

Expert WitnessFor

Indiana OUCC

Retained as

Expert WitnessFor

Indiana OUCC

www.accumyn.com 38

Freeze Damage: Petrochemical Facility

Provided consulting services regarding construction delay claims by contractors and suppliers due to frozen and broken water lines at the Texaco Port Arthur ethylene unit LOU #1 during its initial start‐up and commissioning.

Engagement Summary:


A construction matter involving a southeast Texas petrochemical facility that was damaged by sub‐freezing temperatures during its start‐up and commissioning.

Retained as

Construction Claims

Consultantfor

Texaco Chemical Company

Retained as

Construction Claims

Consultantfor

Texaco Chemical Company

www.accumyn.com 39

Critique of Fair Market Valuation - Petroleum Trading

Provided expert testimony regarding economic damages resulting from a shareholder dispute involving a closely held corporation which trades in refined petroleum products. Work performed involved the critique of a business valuation and economic damages analysis presented by the plaintiff, an assessment of the accounting and book keeping procedures, methods and procedures by which shareholders receive compensation, and the treatment of shareholder equity, shareholder notes and working capital on the entity's financial statements.

Engagement Summary:


Expert testimony related to valuation of a company which trades petroleum products.

Retained as

Expert WitnessFor

Rio Energy

Retained as

Expert WitnessFor

Rio Energy

www.accumyn.com 40

Expert witness report and analysis addressed insurance policy evaluation, sequence of events and timeline pertaining to drilling and completion of wells, analysis of production data, and calculation of the loss of production income incurred. The matter was settled for an amount significantly less than original claim.

Engagement Summary:

Loss of production income (LOPI) dispute between an insurance syndicate and an oil & gas company as a result of Hurricane Katrina related damages.


Loss of Production Income Claim: E&P

Retained as

Expert Witnessfor

Lloyd’s of London

Retained as

Expert Witnessfor

Lloyd’s of London

www.accumyn.com 41

Expert testimony regarding the value of lost sales and the related incremental expenses and profits of Baker Hughes resulting from the alleged misappropriation of trade secrets by former employees and a competitor. Damages were determined based on the quantification of lost sales revenue minus incremental costs related to the misappropriated trade secrets. Work also included the critique and analysis of defendant’s quantification of lost profits alleged to result from a counter‐claim of tortuous interference.

Engagement Summary:

Analysis and expert opinion regarding losses from misappropriation of trade secrets.


Misappropriation of Trade Secrets: E&P Oilfield Services

Retained as

Expert Witnessfor

Baker Hughes Incorporated,

Retained as

Expert Witnessfor

Baker Hughes Incorporated,

www.accumyn.com 42

Provided an expert report and deposition and trial testimony on construction operations required to remove equipment, piping and electrical and instrumentation items from the unit.

Favorable weight was given to Accumyn’s testimony in the written opinion of the court, and the outcome was a success for counsel’s client.

Engagement Summary:

Resolution of mechanic’s and material man's liens by three contractors in connection with work performed at a High Purity Isobutylene (“HPIB”) unit at a Pasadena chemical plant.


Process Unit Construction Operations Contested Removal of Installed Assets from a Process Unit

Retained as

Expert Witnessfor

Amergy Bank National, Inc.

Retained as

Expert Witnessfor

Amergy Bank National, Inc.

www.accumyn.com 43

Provided expert analysis of accounting issues in connection with alleged breaches of fiduciary duty on the part of Enron’s outside board of directors. Work included assisting counsel in preparation for Congressional hearings and analysis of complex accounting and financial statement disclosures related to mark‐to‐market accounting, special purpose entities ("SPEs"), off‐balance sheet financing, FAS 125 and 140 asset securitizations, pre‐pay transactions, asset impairments, and use of complex derivatives in the wholesale and retail energy services and broadband divisions.

Engagement Summary:

Retained as Consultant for Enron’s outside directors in connection with their alleged role in fraudulent accounting practices that resulted in the second largest bankruptcy in U.S. history.


Breach of Fiduciary Duty: Outside Board of Directors

Retained as

Consultant For

Enron’s Outside Directors

Retained as

Consultant For

Enron’s Outside Directors

www.accumyn.com 44

Four expert witness reports and deposition testimony addressed project procurement management; project change management; subcontract administration; RICO Act violations; and transfer of confidential information allegations between the parties. The matter was settled favorably pre‐trial after depositions were taken.

Engagement Summary:

Product quality and delay dispute between an equipment supplier and the general contractor for Exxon’s Kizomba “A” tension leg platform project offshore Angola.


Retained as

Expert Witnessfor

ABB Lummus

Retained as

Expert Witnessfor

ABB Lummus

Design and Construction Contract Dispute Product Quality and Delay: E&P Facilities

www.accumyn.com 45

Valuation report and expert testimony on valuation of limited partnership interest in petrochemical plant. Involved authoritative valuation opinion including technical and operational analysis regarding the condition of the plant, its expected life, and a survey and analysis of the production of competing and planned chemical producers marketing similar products. Panel issued ruling favorable to client.

Engagement Summary:

Arbitration of the fair market value of a limited partner’s percentage interest in a general partnership for a petrochemical plant producing styrene monomer.


Retained as

Expert Witnessfor

Lyondell Basell Chemical Company

Retained as

Expert Witnessfor

Lyondell Basell Chemical Company

Fair Market Value Opinion: Petrochemical Plant

www.accumyn.com 46

Retained to review contract requirements, design deliverables and claim documents, prepare witness statements and testify at a mediation hearing. Over 40 expert witness statements were prepared addressing individual claims, and used as evidence to support testimony. Both parties agreed to a settlement.

Engagement Summary:

Mediation of errors and omissions claimed by an independent power producer against its engineer of record for a 650 MW cogeneration facility.


Engineering Contract Dispute - Errors and Omissions

Retained as

Expert WitnessFor

Sargent & Lundy Engineering

.

Retained as

Expert WitnessFor

Sargent & Lundy Engineering

.

www.accumyn.com 47

Stabilization and Repair Costs, Blowout of Wellhead: E&P Well Operations

Assess economic damages from a blowout of a frac‐stack wellhead on a drill site. Work performed involved the analysis of incurred expenses related to the defective wellhead, including stabilization and repair costs to the well and the cost to replace the defective wellhead. Analysis was also performed in relation to the additional interest costs associated with financing the repairs of the well and the replacement of the wellhead.

Engagement Summary:


Litigation Support – Expert testimony related to an East Texas production facility in connection with defective wellhead.

Retained as

Expert WitnessFor

Comstock

Retained as

Expert WitnessFor

Comstock

www.accumyn.com 48

Corporate Turnaround / Restructuring

Developed a comprehensive financial model of all of Seitel’s E&P operations and worked closely with the secured creditor group on its restructuring, viability, and feasibility plan in exiting its bankruptcy.

Project resulted in a successful packaging and sale of the E&P projects and full recovery to the benefit of the creditors

Engagement Summary:


Served as financial advisor to the secured lending group – a leading provider of seismic data and related geophysical expertise to the petroleum industry

Retained as


Seitel, Inc

Retained as


Seitel, Inc

www.accumyn.com 49

Contact Information

Scott A. BayleyPresident and Senior Managing Director

Main: [email protected]

1415 Congress Street, Suite 200Houston, Texas 77002

www.accumyn.com 50

à‐kyә‐mәn: Our name is derived from the Latin word for ‘sharpness, point’. The modern definition is synonymous with discernment and describes a quickness, accuracy, and keenness of judgment or insight, especially in practical matters. n. Quickness, accuracy, and keenness of judgment or insight.

About Our Name

1415 Congress Street, Suite 200Houston, Texas 77002

713-800-2550

www.accumyn.com 52

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