Business Description
We are a development stage company that identified, evaluated and acquired
oil and gas exploration and development opportunities primarily in the United
States. As a result of the decline in the oil and gas markets, we are now seeking
other strategic alternatives.
We were incorporated under the laws of the State of Nevada on July 25, 2008
as “Loran Connection Corp.” We were formed to provide a variety
of services in the area of individual and group tourism and business support
in Ukraine. We subsequently filed a resale registration statement with the Securities
and Exchange Commission on May 28, 2009, which was declared effective on October
28, 2009. On January 25, 2012, we filed an amendment to our articles of incorporation
to, among other things, change our name to “PetroTerra Corp.” and
effect a thirty-two-for-one reverse split. We changed our name to reflect a
proposed change in our business operations. On October 2, 2013, in connection
with a change of control in the management of the Company, the Company began
its current business operations in the oil and gas sector. On December 18, 2013,
we filed a certificate of change to effect a one-for-two reverse stock split
of our authorized and our outstanding shares of common stock and preferred stock.
On April 12, 2014, we completed our acquisition of certain property leases (the
“Leases”) held by Ardmore Investments Inc. (“Ardmore”)
for property owned by Pioneer Oil and Gas (“Pioneer”) covering 5,905.54
acres of land located in the Central Utah Thrust Belt in Beaver County and Sevier
County, Utah (the “Utah Properties”). Since January 2016, as a result
of the decline in the oil and gas markets, we ceased investing in the Utah Properties
and began seeking a strategic alternative both inside and outside of the oil
and gas market.
Our principal executive offices are located at 422 East Vermijo Avenue, Suite
313, Colorado Springs, CO 80903. The telephone number at our principal executive
offices is (719) 219-6404. Our web site is www.petroterracorp.com.
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