Accounting Information Technology

Jeff Craycraft, CPA

CHIEF FINANCIAL OFFICER

SENIOR FINANCIAL EXECUTIVE & BUSINESS LEADER

Houston address: Kentucky address: Cell: 859-***-****

**** ******** ***** **** ********* Road Email: ****@********.***

Humble, Texas 77396 Georgetown, Ky 40324

CORE EXPERIENCE

Expert in financial management, including setting financial policies, GAAP, SOX, audit, internal controls, budgeting and modeling for driving value through accelerated growth, focused spending, and aggressive asset management.

Extensive knowledge of Oil & Gas Accounting processes and procedures including oversight of SEC reporting, 10k’s, 10q’s, 8k’s and all required internal auditing (including Joint interest audits), COSO compliance and DD&A calculations.

Demonstrated talent for building and leading high-performance accounting and financial teams, backed by a proven record of cultivating a corporate culture of professional excellence, accuracy, and timeliness. All accomplished with a personally chosen minimal staff with extensive talent.

Adept at structuring, negotiating, and securing financings, including RBL syndications, supporting acquisitions and major capital investments of up to $1B+. Have worked closely with most major banks with an energy focus and many investment banking organizations.

Proven ability to navigate through complex and adverse business challenges, which have included major disruptions from natural disasters, a Chapter 11 reorganization, and an IPO exit strategy.

Analysis of lease operating expenses, drilling, completion and development project cost, preparation of AFE’s and budget vs actual oversight including managerial approvals.

Assisting reserve engineers with preparation of reserve reports and incorporation of data into spreadsheet budget models, and reviewing all accounting elements within the reports.

Setup and managed many joint venture operations, mostly operated situations, but some non-operated. Some setup for purpose of special tax allocations and some created for strategic purposes.

Reviewed all joint interest operating agreements, negotiated bank credit agreements, and worked with counsel on many legal documents associated with forbearance, stockholders, bond indentures, consultant contracts, employee contracts, offering circulars for private placements, production payments, limited partnership agreements, drilling and vendor contracts.

Negotiated and helped prepare derivative contracts with counterparties, as well as pipeline agreements with purchasers.

Oversaw all insurance coverage, working to secure competitive insurance coverage for property, plant and equipment for all assets, as well as business interruption with insurance underwriters in London.

Effectively managed DD&A for tax mitigation, oversight of all tax preparation and planning, including income taxes, property taxes, sales taxes of various jurisdiction, with material exposure to international tax issues.

Effective at leveraging operational data across diverse teams to enhance enterprise-wide efficiencies, drive down costs, increase profitability, and open new business opportunities.

Extensive IT experience in accounting, economic, production, communication, joint interest, revenue, land and lease systems. Significant experience with databases and database management tools. Exposure to several accounting systems.

SIGNATURE STRENGTHS & COMPETENCIES

Financial / P&L Management

Team Supervision & Management

Investment Banking

Core Business Operations Leadership

Employee Benefits-HR Management

Debt Restructuring & Workouts

Senior Credit Facilities Administration

Stakeholder Engagement

Crisis / Risk Management

RBL Syndications/Structured Financing

Derivative & Hedging Strategies

Disaster / Backup Recovery Planning

Business Development & Growth

Distressed Assets / Asset Sales

Mergers & Acquisitions

Financial Policies, Processes/ Controls

Information Technology

Regulatory / SOX Compliance

PROFESSIONAL EXPERIENCE

CHIEF FINANCIAL OFFICER & TREASURER – RAAM GLOBAL ENERGY COMPANY (1993-DEC 2015)

Privately held with publicly traded debt, oil and gas exploration and production company with $320M annual revenue, $700M in assets, and $260M annual EBITDA. RAAM had operations in many basins the Gulf of Mexico, Deep Water Gulf of Mexico, Louisiana, Texas, Mississippi, Nebraska, Oklahoma, California, New Mexico and North Sea.

Managed all the areas of finance, accounting, tax, joint interest accounting, revenue accounting, AFE management, lease operations, construction and drilling projects, oversight of corporate administration, and the IT operations across several technology platforms and databases. Maintained relationships with lenders and investors and oversaw/participated in the development of derivatives/hedging strategies for stabilizing company finances from fluctuations in oil and gas prices. Supervisory oversight of the performance of 85 employees, including 12 administrative staff members and numerous consultants. Interacted directly with the CEO and the Board providing strategic and tactical advice on operational issues and challenges impacting company performance, as well as reporting on budget and financial metrics.

SELECTED ACCOMPLISHMENTS

Business Development & Revenue Growth:

• Direct involvement in substantial revenue growth over tenue from $800K to $350M.

• Accounting strategy for a $6M investment in strategic shale leases into a $74M sale within six months, which provided capital through a tax free 1031 exchange for additional lease investments in Louisiana, California, Texas, and Nebraska.

• Developed and directed creatively designed employee incentive/ benefit plans to accomplish corporate goals.

Capital Raising / Business Financing:

• Assumed responsibility for 5 RBL syndications that financed activities of more than $1B. This included negotiation of bank credit agreements, of which the largest was $200M and involved 6 major multibillion dollar banks.

• Obtained and managed the closing an $85M RBL with a very large Energy Hedge Fund owned by J P Morgan.

• Managed several private equity raises.

Crisis Management:

• Early in career successfully navigated financial and operational challenges of a complex 3-year reorganization, which was initiated while collecting insurance recoveries for extensive damages caused by Hurricane Andrew.

• Managed through the financial challenges caused by other devastating hurricanes, which resulted in a 6-month closure and relocation of the major operational New Orleans office and extensive damage to offshore assets.

• Monitored various derivatives and hedging strategies to mitigate price volatility impact over 20+ years, enabling the company to glide through some difficult periods, when others suffered, including three major hedging value captures of $70M, $26M & $10M.

Investor Relations & Negotiations:

• Created presentations and participated in shareholder meetings and public conference calls required for holders of the Company’s $250M high-yield debt.

• Provided support in negotiations for an attempted exchange agreement with Bond holders and a work-out agreement with the Senior Debt Holders in order to address financial covenant issues encountered from an extreme historical drop in commodity prices.

• Managed several bank workouts, including negotiation of forbearance and standstill agreements to gain runway, following senior lender decisions to exit credit in the energy space.

Investment Banking:

• Worked with many major Wall Street investment banking firms in structuring a variety of financial transactions, which included 2 IPO dry runs and several road shows.

• Managed financial requirements to secure and maintain a $250M publicly traded, secured, and registered high-yield debt issue with 2 tack-ons, requiring SEC reporting, SOX and internal audit COSO compliance.

Information Technology:

• Spearheaded development of technological policy including several IT platforms and databases; liaised with IT professionals on implementation of leading-edge VMWare and mirrored backup systems from multiple locations. Oversight of the computer communication networks using multiple technologies.

• Directed the installation of the company’s first 3D seismic and mapping systems as well as decisions made on all state of the art accounting software and accounting platforms.

CONTROLLER & CHIEF INFORMATION OFFICER (1983-1993)

Commenced working relationship with Century Exploration Company as the Controller and CIO, which later became RAAM Global Energy. Handled all accounting responsibilities, including audits and financial reporting, tax returns, accounts payable, accounts receivable, fixed asset accounting, capital budgets, variance accounting, cost accounting, joint interest accounting, revenue distribution, and regulatory reporting.

In addition, managed IT systems hardware installations, software development, management for all accounting and areas of communications. Developed accounting reports and managed the database using database programming tools.

EARLIER EXPERIENCE SUMMARY: Prior roles included staff accounting, tax return preparation for individuals and corporations and programming positions with CPA firms. Also worked as a programmer and operator clerk for Chessie Systems Railway.

EDUCATION & AFFILIATIONS

Bachelor of Science, Accounting & Information Technology – University of Kentucky

Certified Public Accountant (CPA)

Member, American Institute of Certified Public Accountants

Member, Kentucky Society of Certified Public Accountants

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