(d)  On April 9, 2009, Marlis E. Smith, Jr., age 48, was appointed to the Credo Petroleum Corporation Board of Directors to serve in the newly-created Class I seat.  Mr. Smith has twenty five years experience as an oil and gas producer.  As President of SmithCo Properties, Inc. since 1987, and as Managing Partner of Smith/Drummond Holdings, LLP, Mr. Smith owns interests in hundreds of oil and gas wells throughout the Mid-Continent and Rocky Mountain regions of the United States.  Prior to 1987, Mr. Smith arranged Wyoming drilling deals for Denver-based Four-Ten Exploration.  Mr. Smith received his Bachelor of Arts from Rice University and his Masters in Business Administration from the University of Denver.  Over the past ten years, Mr. Smith has participated as an independent third party working interest owner in numerous oil and gas wells operated by Credo.  During Credo’s fiscal year ended October 31, 2008, Mr. Smith owned interests in forty six such wells.  During that period, he received approximately $771,000 in oil and gas revenues and paid approximately $338,000 in operating expenses related to such interests.  He also owns interests in numerous wells operated by third parties in which Credo also owns an interest.  Mr. Smith has not been appointed to serve on any committee of the Board of Directors.

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