Richard Smith

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.

Lightstream Resources Ltd. engages in the exploration and development of oil and natural gas. The company was founded on July 30, 2009 and is headquartered in Calgary, Canada.

Touchstone Energy, Inc. engages in developing crude oil gas properties. It was founded on October 5, 1982 and is headquartered in Calgary, Canada.

Passport Energy Ltd. is a junior oil and gas company, which engages in the evaluation, acquisition, exploration and development of oil and gas properties in western Canada and the United States. Its exploration and operations includes Hardy Field of southeast Saskatchewan and Sweetgrass Arch area in the northwest Montana. The company was founded on February 23, 2007 and is headquartered in Calgary, Canada.

Canamax Energy Ltd. engages in the acquisition and exploration of oil and gas properties. The firm focuses on the consolidation and exploitation of Montney oil assets in the Greater Grimshaw area of Alberta. The company was founded on April 30, 1987 and is headquartered in Calgary, Canada.

Novus Energy, Inc. engages in the acquisition, exploration, development and production of petroleum and natural gas reserves. The company was founded on August 7, 1998 and is headquartered in Calgary, Canada.

Grounded Lithium Corp. (Old) was founded in 2020 and explores and develops lithium brine. The company is based in Calgary, Canada. Grounded Lithium Corp. (Old was acquired by VAR Resources Corp. on August 23, 2022 for $12.09 million.