Board of Directors

Nina Udnes Tronstad

Nina Udnes Tronstad - Chair

Nina Udnes Tronstad is a Senior executive with over thirty years of experience from both operational and strategic positions within the Oil and Gas sectors. She has held positions in Kværner, Aker Solutions and Statoil (Equinor).

Nina has executive management experience, both from oil company and contractors. This includes capital projects, reservoir and HPHT drilling, BD, oil trading and supply, refining, HSSE including sustainability, and IT.

She has international experience from working in four countries as well as various Board assignments in listed companies, foundations and public enterprises over the past fifteen years.

Brita Holstad

Brita Holstad - Deputy Chair

Brita Holstad has extensive strategic and technical experience within the oil and gas sector. She has held various technical subsurface positions in Elf Aquitaine, Revus Energy and Wintershall, and been consulting for Norsk Hydro and Statoil.

Ms. Holstad was a Managing Director at Hess Norge from 2010 to 2013 and Regional Director UK & Norway at Cairn Energy from 2013 to 2020. During her years with Cairn, the company pre-qualified as an operator in Norway, built a strong exploration portfolio through licensing rounds and farm-ins, drilled two operated exploration wells and sanctioned a non-operated discovery. In the UK, two non-operated fields, Kraken and Catcher, were taken from sanction to stable production. Ms. Holstad was a member of Cairn’s Senior Leadership Team. She left Cairn when the company sold its Norway Business in 2020.

Ms. Holstad holds a Master of Science degree with specialization in Petroleum Geology and Reservoir Engineering from NTH Trondheim, Norway.

Brita Holstad is Non-Executive Director at Gassco AS and Sognekraft AS.

Roar Tessem

Roar Tessem - Board Member

Roar Tessem has more than 35 years of experience within the E&P industry, having held positions with Elf, Shell, DNO, Deminex, PGS and Det norske oljeselskap.

In 2008, Roar founded Spring Energy, backed by private equity firm HitecVision. The Company took part in several major discoveries on the Norwegian Continental Shelf and was subsequently acquired by Tullow in 2012. Roar was CEO of Tullow Norway until the end of 2014.

From 2015 to the end of 2016, Roar was CEO of both Pure E&P and Point Resources in the restructuring process of the HitecVision owned companies Rocksource, Core and Spike.

Ron Panchuk

Ron Panchuck - Board Member

Ron Panchuk has almost 40 years of experience within the E&P industry, initially as a lawyer in private practice in Calgary, Canada acting for a variety of large and small international E&P companies.

After nine years in the Middle East during the 1990s, where Ron was general counsel to the Economic Department of the Government of Dubai and Emaar, Ron returned to Canada and worked for numerous E&P companies as a business development executive and in-house counsel operating in South America, the Middle East and Africa.

In 2013, Ron co-founded Maha Energy AB which eventually listed on Nasdaq First North in Stockholm. The Company operates significant producing interests primarily in Brazil. Ron retired from Maha in January 2020 to pursue other opportunities.

Marit Kirkhusmo

Marit Kirkhusmo - Board Member

Ms. Kirkhusmo is a lawyer, partner and board member at SANDS Advokatfirma DA. She has more than twenty years of experience from major law firms in Oslo and London, in addition to management positions in the international shipping industry.

Ms. Kirkhusmo also has extensive board experience from private and public companies, hereunder from the Board of Directors of GIEK – the Norwegian Export Credit Agency.

Arve Johan Andresen - Board Member

Arve Johan Andresen, M.Sc./MBA, has more than 30 years of international business experience from management consulting, as corporate CEO and as venture capitalist and private investor.

He is a shareholder in Source Energy, with strong focus on value creation rooted in his broad investor experience, and earlier exposure to the exploration industry as management consultant.

In addition to Source Energy, Arve is active as investor and Board member, or serves as independent Director, in several other companies.