King Resources Announces Audit Update

King Resources, Inc. said that its auditor, Stephenson & Trlicek, P.C., has commenced the auditing process of all past and current financial information with the intention to bring King Resources, Inc., into full compliance with SEC reporting requirements and the Sarbanes-Oxley Act of 2002. The auditor expects to complete the audit and preparatory filings in approximately the next thirty business days.

King Resources is a development stage Oil and Gas Exploration and Production Company with a bias toward high risk, high reward "wildcatting". Its four senior members of Management have over 140 years of Oil and Gas experience. The four have each held senior Management positions including CEO positions in one NYSE Company, one AMEX Company, CFO positions in two NYSE and One NASDAQ and Exploration & Production Management in two NYSE companies and Managing Partner in one private LLC.

Existing major assets owned include: a 50% working interest in 10,000 acres Offshore Gulf of Mexico, Vermillion Blocks 112 and 113 approximately 30 miles off the coast of Louisiana. A 100% working interest in approximately 2,700 acres in the Fayette Field, Jefferson County, Mississippi; a Joint Venture agreement under which it acquired a 50% interest with Carpathian Energy Companie Petroliera, SRL in the Calinesti Field Southwest of Bucharest, Romania which encompasses approximately 189,000 acres; and, 170,000 linear miles of 2D Seismic along with over 1,000 old well data packages in Texas, Louisiana, and Mississippi;

King's team has extensive national, international, on, and offshore exploration experience in drilling, designing production platforms and production. King's team has evaluated and developed projects in the Gulf of Mexico, the North Sea, offshore Nigeria, and other areas.


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