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Friday, August 25, 2006 2:28:53 PM
On August 15, 2006, the Company executed a Letter of Intent to acquire two working interests in gas producing wells located in Toole County, Montana. On August 23, 2006, the Company signed a definitive Purchase Agreement to acquire a 4.5 mile pipeline in Campbell County, Wyoming from PRB Energy, Inc. The Company has arranged short-term financing to enable it to close on both the Montana wells and the Wyoming pipeline. The proposed acquisitions of the working interests and pipeline will provide cash flow to service the acquisition debt and allow the Company to hire management who will oversee the growth of the Company. After the filing of the Company’s second fiscal quarter report for 2006, the Company will file an 8-K with information regarding the acquisition of the pipeline. It will file an 8-K with the details of the definitive agreement for the purchase of the two Montana gas wells once it is signed.
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