Freestone Resources Inc. (fka FSNR)

[Peak Oil]

"We now have approximately 5000 acres of contiguous property to the Carroll Unit under signed lease option and are currently engaged in negotiations to begin exploiting this field with a large Oil and Gas company active in this same area. We are also in the process of acquiring our next re-entry prospect, and are actively seeking others. Freestone Oil and Gas will most certainly show a net profit for the first quarter of 2007, and hopefully for each quarter thereafter. We will release details of our next well project within the next few weeks..."

Yes, this company is about to become very interesting too.
The "large oil & gas company active in the same area" is on-board now, it seems. Risk transfer is not a bad thing if the cost is right and the potential profit is high.