Paul Leonard Doran

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

ELCO Management Co. LLC (ELCO) is an independent, SEC-registered investment advisor headquartered in New York City. The firm was founded by Paul Elliot in 1995. ELCO provides investment supervisory services to two investment limited partnership and separately managed accounts.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

ELCO Management Co. LLC (ELCO) is an independent, SEC-registered investment advisor headquartered in New York City. The firm was founded by Paul Elliot in 1995. ELCO provides investment supervisory services to two investment limited partnership and separately managed accounts.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

UBS Financial Services, Inc. is a registered investment advisor and wealth management firm headquartered in Weehawken, New Jersey. The firm is a wholly-owned subsidiary of UBS Americas Inc., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Founded in 1969, UBS Financial Services provides investment advisory services to individuals, banks, thrift institutions, mutual funds and other investment companies, pension and employee benefit plans, trusts, estates, charities, corporations and other business and government entities.

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses

Founded in 1989, Burnham Securities, Inc., the broker/dealer located in New York City. The firm is a subsidiary of Burnham Financial Group. They offer a full array of investment services to small- and mid-cap companies including asset management, brokerage services, corporate finance services, securities underwriting and mutual fund administration and distribution. Burnham Securities' primary focus is on energy and geopolitical strategy and strategy research. Bear Stearns Securities Corp. serves as their clearing agent. The firm provides in-house research but also receives secondary source research from many Wall Street brokerage houses