OBSIDIAN ENERGY LTD.

Specialized Skill and Knowledge

Obsidian Energy employs individuals with various professional skills in the course of pursuing our business plan. These professional skills include, but are not limited to, engineering, financial, geology, geophysics and business skills, which are widely available in the industry, although recruiting and retaining skilled professional staff is highly competitive. Drawing on significant experience in the oil and natural gas business, Obsidian Energy believes our management team has a demonstrated track record of bringing together all of the key components to a successful development, exploration and production company: strong technical skills; expertise in planning and financial controls; ability to execute on business development opportunities; capital markets expertise; and an entrepreneurial spirit that allows Obsidian Energy to effectively identify, evaluate and execute on our business plan. See "Risk Factors".