MediaTechnics Corp (MEDT)

[mrfence]

Forward Energy (“Forward”) owns and/or leases oil and natural gas properties in Montana. Forward has made substantial investments to recomplete two wells, and that work has concluded. Forward asserts that these wells have “proved undeveloped reserves” approaching 200,000 barrels of oil. Forward has contracts to sell all the oil it produces at the wellhead, at a discount to NYMEX of approximately $15.00 per barrel. NYMEX oil futures were trading just above $80 per barrel as of March 25, 2010.

Forward also believes that significant reserves of natural gas exist in the general area of its properties, and these reserves are, generally attendant to existing oil reserves found nearby. Forward makes no claim as to the quantity, if any, of attendant reserves of natural gas, however the potential for additional revenues from the sale of natural gas may exist.

Forward also believes that it has considerable other, unproved, reserves of oil and gas, but has made no estimate of the, quantity, quality or actual existence of any other reserves.

Due diligence is currently being conducted and the details of the acquisition agreement are being determined. The acquisition, if completed, will include consideration consisting of some combination of preferred stock and/or the assumption of debt and commitments to raise the capital necessary to purchase pumping equipment and begin production. For the purposes of financial statement presentation, the operations of Forward will be fully consolidated with the operations of MEDT.

The parties expect to close the acquisition by April 10, 2010.