This is from the last 10K I did not realize that they had mentioned the deal for Caldwell in this filing... Technically they could have been working on this deal since last year...
Very interesting...
NOTE 6. SUBSEQUENT EVENTS
Subsequent to the end of the fourth quarter of 2006, the Company signed an agreement in principle to purchase an oil and gas property in Texas for $5.5 million, which agreement is not yet effective, since it is subject to several conditions precedent, not all of which have been satisfied, including bank financing, and no assurance can be given at this time that the Company will reach a definitive agreement with the conditions precedent satisfied so as to be able to consummate the transaction.
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