I think this will start to drive it...This is a great report and I recommend people read it.
Initial Company Information and Disclosure Statement
Common Stock As of September 30, 2010:
(1) The Company was authorized to issue 750,000,000 shares of common stock with par value $.001 per share. (2) 93,741,136 of which were issued (3) 19,330,320 shares were freely tradable.
The Company has also been actively working in Israel. The Company has found that in the area in Israel licensed to the Company by the Israeli Government for performing oil & gas exploration there are prospects of oil presence that can be extractable. The Company has been working with several groups of geologists in order to try to develop an assessment on this matter. The interim reports have provided very optimistic results, describing the eventually of about 20 million barrels of extractable oil. Further works are to take place in this area. The Company has signed an agreement in principle with Lapidoth Ltd., an Israeli exploration company, for performing the first perforations in the licensed area. For this agreement to become a contract there is still need to define all the perforation parameters (spot, depth, etc), the price to be paid and other details for the performance of the activities. On the basis of the interim report the Company is considering an eventual public offering in Israel of Energtek Products Ltd., the subsidiary owning the license. In addition, the Company is closely following the developments in Israel regarding the future gas-bulk transportation, following the big amounts of gas discovered off-shore Israel, expected to be delivered in Israel within approximately two years. The Company is preparing itself towards these future activities. The Company is also the main shareholder of Energtek N.G.S. Ltd., a company formed to operate in the area of natural gas mass storage. This last company is in discussions with a potential investor towards an agreement for creating a jointly owned company.
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