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Re: crowin post# 32798

Friday, 12/09/2011 1:13:02 PM

Friday, December 09, 2011 1:13:02 PM

Post# of 33129
Steve Rackley, CEO, said, "This has been a difficult year. When we started in January the Company was under extreme distress. Several years of mismanagement, poor decisions and neglect had left its mark on the Company. None of this was accurately represented to me when I took the position of CEO. It was only after being with the company and reviewing the internal documentation that it became clear that the situation was much worse than it appeared. Once I realized the extent of the problem, I immediately cut ties with the previous management and embarked on a course of cleanup and repair. We have patiently and systematically worked through taking care of the pre-existing problems and issues that have prevented us from being able to move forward. It has certainly taken much longer than I had expected it would take, but in the end, this is exactly what I thought we might be able to accomplish. This agreement with Questus Energy brings both capital and experience to the Company and will provide the pieces that we've been missing that will let us be a successful income producing oil company."