CGrowth Capital Inc (CGRA)

[ANTI-BAGHOLDER]

In August 2017, the Company executed a second Development Agreement for the completion of its oil well in Campbell County, Wyoming.The agreement clarifies and redistributes working interest party interests, capitalizes completion of the project, and recapitalizes the Company for previous expenses on the project. Under the agreement, the Company is the Leaseholder, Operator, and carries a 31.0834% working interest in the project. Final drilling is tentatively scheduled to be completed in the third quarter of 2017.

The above is from the latest filing.

https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=177912

So the company is being reimbursed for the drilling expenses. There are 7 other locations they will be drilling as well.

During the 3rd quarter of 2016, the Company’s subsidiary, Powder River Resources, Inc., entered into and received an oil and gas lease assignment covering property located in Campbell County, Wyoming. Included with the lease is a Joint OperatingAgreementprovidingPowderRiverResourceswith40.375%WorkingInterest. TheCompanyintendstoprovide financing for the project which covers up to 7 new drilling locations. The Company began mobilizing for drilling operation during the 4th quarter of 2016 and completed surface work prior to the onset of winter. As of this filing, the well has been completed to approximately 90% of depth, at which point, issues with the operator arose. The Company has delayed the completion of the final drilling until new details with the working interest partners can be resolved, which is expected to be complete in the month of August.

Well details below from the state of Wyoming website:

http://wogcc.state.wy.us/Wellapi.cfm?oops=1&nAPINO=563574