Mr. Michael Klayman is an Analyst at SMH Capital Markets in the Investment Banking Group, specializing in the energy industry.

Before joining SMH Capital in 2006, Mr. Klayman was an Associate at Amegy Bank, where he focused on exploration and production and midstream energy companies. His previous work experience includes internships with Enron, Conoco, and Exxon Mobil.

Mr. Klayman holds a Bachelor of Business Administration in Finance and Economics from Baylor University, where he graduated summa cum laude.

Mr. Anil Kuruganti is an Associate at SMH Capital Markets in the Investment Banking Group.

Before joining SMH Capital in 2006, Mr. Kuruganti was involved for 2 years in the telecommunication services sector at Tata Consultancy Services, a leading information technology, consulting, services, and business process outsourcing organization, in India. Before that, while completing his Master of Business Administration, Mr. Kuruganti worked as a part-time Analyst at Thorpe Capital Group, an investment bank in Salt Lake City.

Mr. Kuruganti holds a Bachelor of Engineering degree from National Institute of Technology, Tiruchirappalli, and a Master of Business Administration from the David Eccles School of Business at the University of Utah. He holds the Series 7 and the Series 63 securities licenses from NASD.

Mr. Santosh Ragi is an Associate at SMH Capital in the Investment Banking Group.

Before joining SMH Capital in 2004, Mr. Ragi was an analyst at First Manhattan Consulting Group, a management consulting firm specializing in financial services sector.

Mr. Ragi holds a Bachelor of Science in Finance and General Accounting from Stern School of Business, New York University.

Mr. Jude Rolfes is an Analyst at SMH Capital Markets in the Investment Banking Group.

Before joining SMH Capital in 2005, Mr. Rolfes was a Research Associate at Pickering Energy Partners focusing on the U.S. Exploration & Production sector. Prior to that, Mr. Rolfes worked as an Analyst at CountryWatch, Inc., a country-specific intelligence and data service catering to universities and corporations. He also interned at Salomon Smith Barney in New York City in the Telecom Equity Research group.

Mr. Rolfes holds a Bachelor of Arts in Economics and East Asian Studies from Washington & Lee University.