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02/03/10 2:19 PM

#12590 RE: skibum1 #12589

Ahshrup the board of directors and sole executive officers of the Company. The
Company, while remaining a holder of royalty rights under an Oil and Gas Lease,
ceased receiving said income on or about August 2008 because of a dispute that arose
between the majority interest holder in the oil field and the operating (production)
company.
Mr. Lieberman and Mr. Ahshrup as can be seen from their biographies later herein are
accomplished business consultants and experienced in the management of natural
resource production companies. The board of directors and executive officers of the
Company were engaged in other activities and with the loss of revenue elected to resign
rather than to continue to manage the Company, leading to the decision by the
shareholders to leave management to Messers Lieberman and Ahshrup.
Messers Lieberman and Ahshrup are currently in negotiations with several individuals
and entities in both the United States and Latin America regarding potentially lucrative
extraction properties, and will enter into the appropriate employment agreements with
the Company upon successful completion of these negotiations. In the meantime, they
have undertaken to organize the accounting and regulatory matters of the Company
which have gone unattended for some time. However, at the time of this disclosure
neither Mr. Lieberman or Mr. Ahshrup are beneficial owners of any securities in the
Company. Control remains with the shareholders noted below in this statement.