We were originally a company involved in the placing of strength testing amusement
gaming machines called Boxers in venues such as bars, pubs and nightclubs in
the Seattle area, in the State of Washington. We acquired one Boxer that had
been placed in Lynnwood, Washington. However, the machine was de-commissioned
as it needed material repairs. We were not able to secure sufficient capital
for these repairs and our management decided to change our business focus to
on oil and gas and mineral exploration.
On October 14, 2014, we entered into an agreement to acquire a 75% working
interest in the J.E. Richey lease. This lease area has six known productive
formations. The existing three wells on the lease are fully equipped. Beginning
in May 2015 we started conducting operations on the three wells to place them
back into production. The rework/re-completion was completed on July 28, 2015
and production of oil and gas was established.
Callahan County, Texas – Shallow Oil project
On July 7, 2014, we acquired a 75% working interest in the Isenhower lease.
The Isenhower lease has three fully equipped wells completed in the Cook Sandstone
at approximately 500 feet. The lease also has one approved water injection well
and eight potential undrilled locations. Our plan is to rework all three of
the wells to place them back into production and drill new wells to fully develop
the acreage. No work was conducted during the fiscal year. Terms are being negotiated
for addition time to perform the terms of the agreement. As of the date of this
report no definitive terms have been reached.
Callahan County, Texas – Mississippi Reef project
On July 7, 2014, we acquired a 60% working interest in the J. Morgan lease.
The J. Morgan lease is located in an area with multiple formations that are
known to be oil and gas productive. No work was conducted during the fiscal
year. Terms are being negotiated for addition time to perform the terms of the
agreement.
Jones County, Texas – Palo Pinto Reef project
During the fiscal year the Company acquired the Olson lease covering 160 acres
in Jones County, Texas. This lease is 1.5 miles from the Strand Palo Pinto Reef
Field which was discovered in 1940 and has produced 1,700,000 barrels of oil
from 8 wells or 212,500 barrels of oil per well. The structure map on the Palo
Pinto shows a large buildup in the Palo Pinto Reef across the southern portion
of the lease. The Guinn #1 Olson well is 90’ high to a well 1000’
to the southeast and 42’ high to a well 1,150’ to the northwest.
Winnemucca Mountain Property
On September 14, 2012, our company entered into an option agreement (as amended
and restated on November 15, 2012, February 1, 2013 and August 26, 2013) with
AHL Holdings Ltd., a Nevada corporation, and Golden Sands Exploration Inc.,
a company incorporated under the laws of British Columbia, Canada, wherein we
acquired an option to purchase a revised 80% interest in and to certain mining
claims from AHL Holdings and Golden Sands, which claims form the Winnemucca
Mountain Property in Humboldt County, Nevada.
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