Paul Baay

The Company is seeking and reviewing new oil and gas exploration projects. The Company recorded a write-off of its interest in the Montana and North Dakota projects during the 2007 fiscal year as the exploration wells that were drilled were deemed to be commercially uneconomical During fiscal 2006, the Company acquired the rights to seismic geophysical data covering certain oil and gas prospects located in South Texas in consideration for $55,000. These costs are not related to the unproved properties already acquired. Because the Company does not have any properties with proved reserves, these costs were included in property investigation expenses.

True Energy, Inc. explores produces and develops oil and gas properties. The company is headquartered in Calgary, Canada.

Atikwa Resources, Inc. engaged in the acquisition, exploration, development, and production of petroleum and natural gas properties. The company was founded on December 23, 1997 and was headquartered in Calgary, Canada.

Vero Energy, Inc. is a junior oil and natural gas company. It engages in the exploration, development and production of natural gas, natural gas liquids and oil in Western Canada. The company was founded on September 23, 2005 and is headquartered in Calgary, Canada.

AlkaLi3 Resources, Inc. engages in pursuing various business opportunities. It has no current business operations. The company was founded on January 12, 1987 and is headquartered in Calgary, Canada.