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Michael Smith founded Basin Exploration, Inc., in 1981 and served as its chairman of the board, CEO and president. Basin was a publicly traded company, with more than $125 million in revenues and $100 million in cash flow in 2000, when Mr. Smith successfully negotiated the sale of the company to Stone Energy, in a $410 million stock-for-stock merger. Mr. Smith was the largest stockholder in the company at the time of the merger. In 2002 Mr. Smith formed Freeport Development, L.P., specifically to design, build, own and operate an LNG receiving terminal in Freeport, Texas. In addition to serving as chairman and CEO, Mr. Smith owns 45 percent of the partnership and has day-to-day control over its activities. | 