Red Mountain Resources Inc. (fka RDMPQ)

[SeaOhToo]

WHEREAS, the Trustee asserts that Hunter Drilling and RMR are unable to perform their respective obligations under the Asset Purchase Agreement based upon, among other things, information contained in RMR’s Form 10-K filing on September 13, 2012 and RMR’s Form 10-Q filing on October 16, 2012;