The number of shares outstanding of the registrant’s common stock as of April, 30, 2008 was 9,019,015 shares.
2.9 million float per yahoo
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On August 3, 2007, Kykuit Resources, LLC purchased from Hemus, Ltd. ( “Hemus” ) a 75% interest in certain oil, natural gas and mineral rights located in the Montana Breaks area of Montana. The Company is the managing member of Kykuit and owns 43.8% of the Company. At the same time, Kykuit and Hemus executed a joint venture development agreement pursuant to which Kykuit agreed to develop and operate all of their joint leasehold interests in the Montana Breaks. The current investment by the Company in this venture is $1,254,393. It is anticipated that drilling will begin in May of 2008.
Richard M. Osborne, the Company’s chairman and chief executive officer, and Steven A. Calabrese, a director of the Company, also own interests in Kykuit. Energy West Incorporated, a publicly-held public utility company of which Richard Osborne is the chairman and a significant stockholder, also owns an interest in Kykuit.
The Company is currently concentrating in Kykuit Resources LLC, which anticipates beginning its drilling in Montana during May 2008.
CEO and Director
Richard M. Osborne
Mr. Osborne, age 58, is a director of John D. Oil and Gas Company, a publicly held oil and gas exploration company in Mentor, Ohio. He has been the Chief Executive Officer for Energy West symbol EWST since November 2007 and a director of the Company since 2003. He is the President and CEO of OsAir, Inc., a company which operates as a property developer and manufacturer of industrial gases for pipeline delivery. From 1994 to October 2003, he served in various capacities, including, director, Vice Chairman of the Board and Chairman of the Board of GLB Bancorp, Inc., a publicly-held bank holding company headquartered in Mentor, Ohio. Since September 1998, Mr Osborne is the sole Manager of Turkey Vulture Fund XIII, Ltd., which began operating in January 1995 to acquire, hold, sell or otherwise invest in all types of securities and other investments. Turkey Vulture Fund is located in, Mentor Ohio. He is also chairman of the board of Corning Natural Gas Corporation, a public utility company in Corning, New York. On November 14, 2007, Richard M. Osborne, who has served as the Company's Chairman of the Board since 2005, was appointed Chief Executive Officer
Gregory J. Osborne
Gregory J. Osborne has been President and Chief Operating Officer of John D. Oil and Gas since April 2006 and a Director since February 2006. From 2003 until his appointment as our President and COO, Gregory Osborne was President of Great Plains Exploration LLC, an oil and gas exploration company based in Mentor, Ohio that owns and operates oil and gas wells. From 2001 until joining Great Plains, he served as Executive Vice President of Orwell Natural Gas Company, a regulated gas public utility company operating in Ohio. Gregory Osborne also serves as a trustee of the Ohio Oil and Gas Association. He is the son of Richard Osborne, our Chairman of the Board and Chief Executive Officer.
CEO Richard Osborne's Sister Companies