Director Independence

Blue Dolphin's Board of Directors has affirmatively determined that the majority of directors have no material relationship with Blue Dolphin (either directly or indirectly or as a shareholder or officer of an organization that has a relationship with Blue Dolphin) and are independent, and that all members of the Audit and Compensation Committees are independent, pursuant to NASDAQ Stock Market listing standards.

Ivar Siem, Chairman of the Board

Mr. Siem has served as Chairman of the Board of Directors since 1989 and was appointed as Chief Executive Officer in 2004.  Since 2000 he has also served as Chairman of the Board of Directors and President of Drillmar, Inc., a well construction and intervention company.  From 1995 to 2000 Mr. Siem served on the Board of Directors of Grey Wolf, Inc., during which time he served as Chairman from 1995 to 1998 and as interim President in 1995 during its restructuring.  Since 1981, he has been an international consultant in energy, technology and finance.  From 1974 to 1981, Mr. Siem managed the oil and gas interests of Fred. Olsen and from 1977 he managed their drilling operation, Dolphin International, Inc.  Mr. Siem holds a Bachelor of Science in Mechanical Engineering from the University of California, Berkeley, and has completed an executive MBA program at Amos Tuck School of Business, Dartmouth, University.

Laurence N. Benz, Director

Dr. Benz was elected as a director in 2004.  Since 1987 he has served as the President of Kentucky Orthopedic Rehabilitation LLC, which he founded.  From 1984 through 1989, he served as a Captain in the Army Medical Specialists Corps of the United States Army.  Dr. Benz is the founder and organizer of multiple private companies representing healthcare, banking, telecommunications, real estate and consulting services.  He also serves on the Board of Directors for multiple private companies.  Dr. Benz received a Masters in Physical Therapy from Baylor University, a Masters in Business Administration from Ohio State University and a Doctorate in Physical Therapy from MGH Institute of Health Professionals in Boston, Massachusetts.

John N. Goodpasture, Director

Mr. Goodpasture was appointed as a director in December 2006.  Since 2001 he has served as Vice President of Corporate Development for Texas Eastern Products Pipeline Company, L.L.C., the general partner of TEPPCO Partners, L.P.  From 1999 to 2001 he was Vice President of Business Development for Enron Transportation Services.  From 1980 to 1999 Mr. Goodpasture held various executive-level positions with Seagull Energy Corporation, including President of Seagull Pipeline & Marketing Company.  Previously he held a variety of management positions at Union Carbide Corporation, where he began his career in 1970.  Mr. Goodpasture also serves on the Board of Directors of End Hunger Network of Houston.  He earned a Bachelor of Science in Mechanical Engineering from Texas Tech University in Lubbock, Texas.

Harris A. Kaffie, Director

Mr. Kaffie has served as a director since 1989.  Mr. Kaffie is a private investor with diverse investments and business activities across such areas as energy, finance, venture capitalism, real estate development, farming, ranching and minerals.  Since 1994, he has been associated with Kaffie Brothers, a real estate, farming and ranching company, where he serves as a partner.  He also serves on the Board of Directors of several privately held companies.  Mr. Kaffie received a Bachelor of Business Administration from Southern Methodist University in 1972.

Erik Ostbye, Director

Mr. Ostbye was elected as a director in 2006.  Since 1983 Mr. Ostbye has been associated with the Arne Blystad Group of companies:  from 2003 to 2007 he was Vice President of Finance of Sokana Chartering, LLC,  from 1988 to 2003 he served as Vice President of Finance of Blystad Shipping (USA) Inc. and from 1983 to 1988 he was Financial Manager of Arne Blystad AS.  Following the sale of the Blystad tanker operation to Eitzen Chemical USA in 2006, Mr. Ostbye has continued to work for the Blystad Group of companies as a U.S. representative.  Mr. Ostbye also serves on the Board of Directors of several privately held companies.  He holds a Sivilokonom/MBA from the Norwegian School of Management (BI).

 

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