The Company has increased its working interest in the following lands;
- EL-397 - increased from 5% to 8.2112%. The acquisition includes the Summit Creek B-44 discovery well and K-44 well bore.
- EL-423 - increased from 5% to 8.2112%. In addition the Company has agreed to increase its interest from 8.2112% to 15% in the Haywood B-20 and Cloverleaf L-52 exploration wells that are scheduled to commence drilling in January 2008.
- EL-441 - increased from 7.5% to 13.42%.
- TDL Freehold Parcels M-32, M-33, M-34, M-35 and M-39 - increased from 16.1111% to 42.0359%, IFR operates the subject lands. TDL parcel M-39 is located in EL-423 and is located within close proximity to next winter's drilling program.
The acquisition provides additional reserves in the Summit Creek B-44 discovery area and also increases the Company's working interests in approximately 1,100,000 gross acres in this newly discovered hydrocarbon province.
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