Board Of Directors 2017-04-10T21:44:23+00:00

Board of Directors

Lutfur Rahman Khan

Chairman of the Board of Directors

Mr. Lutfur Rahman Khan has 33 years of experience in the oil & gas sector and is also the Founder and Chairman of the State Group of Companies headquartered in Vancouver, Canada.

Mr. Khan was the Founder and Chairman of State Petroleum Corporation and Chairman of Arakis Energy Corporation (NASDAQ listed company) from 1995 to 1999, which acquired a 12.2 million acre oil concession in Sudan. This company discovered over one billion barrels of oil reserves and built a 1,500 km, 28-inch diameter oil pipeline from Heglig oil fields to the Port of Sudan with an international consortium. The project was successfully completed with a total investment of approximately USD $2.6 Billion. This project is now producing 400,000 BOPD (+/-). Mr. Khan also acquired and drilled a few dozen oil and gas wells in the Canadian provinces of Alberta and Saskatchewan through his company Pacwest Resources Ltd. and International Sovereign Energy Corp (Toronto Stock Exchange listed company).

Previously, Mr. Khan was also a director and the Chairman of International Sovereign Energy Corp. and a Director of Falcon Oil & Gas Ltd. (a TSX Venture listed company). Mr. Khan controls several private companies engaged in the oil and gas upstream/downstream sector.

Sashko Despotovski


Mr. Sashko Despotovski is a seasoned investment banker and an active investor in both private and public companies. He is a Canadian national living in the Nordics, with international corporate finance experience in the technology and energy sectors. Mr. Despotovski has held positions with several funds and hedge funds in USA and Canada as well as on the operational side as management and as a director for a number of companies. Until recently, he was an M&A Director at one of the Big Four firms and currently serves as a Special Advisor to the firm, focusing on cross border transactions. His specialties are fundraising and fund dissemination, having raised over 2 billion dollars in financing for oil and gas projects.

Mr. Despotovski’s peer reviewed manuscripts can be found in various scientific journals; he was historically an editor and editor-in-chief of JEM. He is a graduate from the University of British Columbia (Jack Bell Research Centre) and University of the Fraser Valley. Mr. Despotovski holds Advisory Board seats with Smart Plants AS, Excitus AS and Teaja Inc. and is a board member of Vidom AS. He will be serving on the audit committee of Stamper Oil and Gas.

Mahmood Arshad


Mahmood Arshad is a business professional with 30 years of oil & gas, real estate development and construction management experience. His diverse experience includes: land use planning, strategic planning, market analysis, financial analysis and construction operations, managing real estate developments, public consultation, environmental site assessments, demolition and property management.

In 1998 and 2001, he was elected as a Director of TSX.V & TSX listed companies Panorama Petroleum Inc. and International Sovereign Energy Corp., both companies headquartered in Vancouver, British Columbia. Later on, he was elected as the Chairman of the Audit Committee for both companies. Currently, he still holds his position at Panorama Petroleum Inc. as Director. Presently, as President of Ravian Development International Inc., he is responsible for an urban mixed-use inner city development in the country of Zambia, South Africa. He is also currently managing an industrial/commercial condo development project in Calgary Alberta.

Dr. Waseem Rahman


Dr. Waseem Rahman has been involved in oil & gas and mining business for over 20 years including experience in both domestic and international projects. His geographical areas of experience include Canada, United States, South America, Africa, Asia and the Middle East. Over the years, Dr. Rahman has been a director of four Toronto Stock Exchange listed companies.

Since 1998, Dr. Rahman has worked with several public and privately held companies in the resources sector and has been President & CEO of Falcon Oil & Gas (TSX.V), Panorama Petroleum Inc. (TSX.V) and a Director of Sovereign Energy (TSX).

John Ryan


Mr. John Ryan has over 21 years’ experience with development-stage companies as a qualified mining engineer with extensive international mining experience particularly in the Coeur d’Alene District including work at the Consolidated Silver Mine and the Galena Mine. Mr. Ryan is the founder and co-founder of a number of resource companies including Royal Silver Mines Inc., Silver Bull Resources, Western Goldfields Inc., and U.S. Silver Corporation. In 2004 he co-founded High Plains Uranium, which successfully acquired uranium assets in the Powder River Basin of Wyoming and in Live Oak County and Bee County, Texas and is now part of Uranium One Corporation. Mr. Ryan has been a senior executive and director of a number of public companies in the USA, Canada, the UK, and Australia including, Consolidated Goldfields Corp., Southern Legacy Minerals, Inc., Sterling Mining Company, Silver Scott Mines, Inc., Plasmet Corp., Premium Exploration, Inc., Trend Petroleum Inc., and Independence Resources Plc. Mr. Ryan spent four years as a Lieutenant on sea duty in the United States Navy. Mr. Ryan holds a B.S., Mining Engineering from the University of Idaho and J.D., Juris Doctor in Corporate Civil Litigation from Boston College Law School.


Sign up to receive our newsletter