Xun Energy, Inc. (fka XNRG)

[Carsmax177]

In re-reading the 10Q, it sounds like just the drilling permits expire in April 2015. However, there is nothing on if they lose leases on the property. here is the quote from the 10Q:

"On August 31 , 2014, the Company forfeited its rights to drill on the Corse and Lalley oil and gas leases in Venango County, Pennsylvania. The Company retains its drilling rights on the Rice 3, Rice 4, Rice 6 and Rice 14 by "Held By Production" and drilling permits which expire on April 28, 2015."

Drilling permits can be renewed and have been by Vencedor Energy in the past on the Rice Lease. Per the company website under "Operations:"

"On February 4, 2014, four of the five drilling permits on the Rice lease expired. The Operator, VEP, initiated the process to renew the four expired permits. The process for obtaining the permits may take 60 days or longer to obtain from the Pennsylvania Department of Environmental Protection."