King City......
According to the last report (10-Q) in March
King City Oil Field
"Effective May 25, 2009, we entered into an agreement with Sunset Exploration to explore for oil and gas on 10,000 acres located in west central California. The agreement calls for us to earn a 20% working interest in the project by funding a maximum of 50% of a $200,000 geophysical survey composed of gravity and seismic surveys and agreeing to carry Sunset Exploration for 33.33% of dry hole cost of the first well. Completions and drilling of this first well and completion of subsequent wells on the 10,000 acres will be proportionate to each party’s working interest. The geophysical surveys have been completed and most have been processed and interpreted. The initial surveys indicated that several more short geophysical survey lines would improve the interpretation. These additional lines have been completed and subsequently several stages of reprocessing have been applied to the original data. Based on this data, two drill locations have been selected and permitting is underway. Drilling of one of these locations is anticipated in the spring of 2011"
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