basically, the filing is saying that BRZL has become a entity that is buying oil and gas companies
The Company in acquiring oil and gas companies by locating the appropriate candidates for acquisition, including Renfro Energy LLC (the “Services”). In consideration for providing the Services, the Company will issue to Renfro 24,000,000 shares of common stock, $0.001 par value per share. Accordingly, the Company now has 44,400,000 shares of common stock outstanding.
On August 12, 2010 the company declared a stock dividend of 19 (nineteen) additional common shares for each common share owned as of the record date. This dividend brought the issued and outstanding shares to 888,000,000
The Company entered a letter of intent with Renfro Energy LLC, a company owned by James Renfro, a director of the Company, pursuant to which the Company agreed to acquire Renfro Energy, LLC, a Dallas-based independent oil company with oil and gas assets in Cameron Parish, Louisiana. The closing of the acquisition of Renfro Energy LLC is subject to various conditions including raising the required capital to fund the purchase price, board approval, entering definitive documentation and other standard closing conditions. As such, there is no guarantee the Company will be able to close such acquisition. A copy of this letter is included in this filing as Exhibit 95.1
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