GEMINI FUNDS

Both Gemini III and Gemini II are managed by Gemini Oil & Gas Management Limited in Jersey. All three funds are administered by Sanne Trust Company Limited in Jersey.

GEMINI III

Gemini Oil & Gas Fund III, L.P. (Gemini III) is a closed-ended, international oil and gas royalty fund, which was established in Jersey, Channel Islands in January 2011 and had its first closing in March 2011. Gemini III is targeting investor commitments of US$200 million and is continuing the strategy developed by the previous funds.

Gemini III's objective is to generate returns uncorrelated to equity markets from the successful commercialisation of oil and gas discoveries by providing finance to well-managed small to medium sized public and private oil and gas companies for specific projects. Typical investments may be to finance acquisitions, appraisal drilling, or development of already discovered oil and gas accumulations. Gemini III will in return receive a royalty or equivalent revenue stream and may also receive equity or equity-related instruments in such companies where these are deemed appropriate to improve the return profile.