Just some board

[$hellKing]

RGFR Info per filing. May be something coming of this soon.


At the time of this filing, the transaction has not closed.

In November 2012, the Company entered into a Purchase and Sale Agreement with
Great Northern Energy, Inc. ("Great Northern") to purchase working interests in
oil and gas leases, applied carried interests and farmout rights and certain
other properties and interests in Texas in exchange for $3,900,000. Cash of
$100,000 was paid toward the purchase price. The remaining purchase price is
made in the form of two promissory notes. The first promissory note in the
amount of $1,100,000 ("$1.1 Million Promissory Note") has a term of year from
its issuance date, with payments to be made on a quarterly basis and will be
secured by the assets being purchased. The second promissory note is in the
amount of $2,700,000 ("$2.7 Million Promissory Note") is due June 30, 2013, with
a payment of $1,100,000 due on closing, the note will also be secured by the
assets being purchased. In addition, the Company has agrees to issue 6,500,000
shares of its restricted common stock and reserve an additional 3,500,000 shares
to be used to purchase additional working interests in the properties. The
closing date of the transaction is expected to be December 1, 2012 or 45 days
thereafter if all the conditions of the Purchase and Sale Agreement have not
been met on December 1, 2012.