In the first quarter of 2006 we have begun identifying possible merger candidates and have begun discussions on a merger with more than one company. We have asked the merger candidates for a non refundable amount of $25,000 and received a non-refundable deposit in May 2006. The main requirement for a merger to take place will be the resolution of all remaining debt that the company has outstanding that would allow for a merger candidate to accept a proposal of debt liquidation and allow us to move forward with a merger. As a part of the plan we now have in place we have the following four part plan to take care of the old debt and taxes, develop revenue, and place sufficient assets in the business to make it scalable and add value to the shareholders. We are currently in discussions with an institution to secure a convertible-note financing to pay off existing accounts payable, which includes currently owed I.R.S. taxes and the short-term notes for the contemplated purchases of the Wyoming pipeline and the Montana wells, plus provide working capital. We have received an offer to begin the process of financing the existing debt through the issuance of a convertible debt that would allow for the pay-off of the taxes and old payables. On August 15, 2006, the Company executed a Letter of Intent to acquire two working interests in gas producing wells located in Toole County, Montana. On August 23, 2006, the Company signed a definitive Purchase Agreement to acquire a 4.5 mile pipeline in Campbell County, Wyoming from PRB Energy, Inc. The Company has arranged short-term financing to enable it to close on both the Montana wells and the Wyoming pipeline. The proposed acquisitions of the working interests and pipeline will provide cash flow to service the acquisition debt and allow the Company to hire management who will oversee the growth of the Company. The convertible debt will also provide for capital to acquire a gas distribution pipeline that we will have signed acquisition agreement for $330,000 with PRB Energy Inc. by the close of business August 22, 2006 to close in early September 2006. We have a letter of intent to acquire two working interests of oil & gas properties owned by our merger candidate. The purpose of the acquisition of the working interests and pipeline is to provide cash flow to for the convertible debt and set the operations needed to allow for the acquisition of the balance of the merger candidates properties that include oil and gas properties in Montana, Wyoming, Colorado, Kansas, and Oklahoma. These properties include PUD’s and off-set opportunities with most of the leases. The plan also includes financing for the drilling of these opportunities and development of the sites.
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