Can you read. This will never happen!!!!!!!!!!! No one has done sufficient work on these properties. CEO is saying false statements. Do you know Morgan Creek Energy, Gran Tierra, Energulf, Ona, NFX, Contact exploration, Bravo Ventures. All pumps on the Frankfurt exchange that crashed hard. 28 million shares hit the market november 28th at .15 cents and you buy at 2.15. HAHA!!!! This company has no money and a deficit of $5 MILLION DOLLARS. They must raise over $20 million USD if they want to go to production, which will produce NOTHING!!
A qualified person has not done sufficient work to classify the historical resource as current mineral resources. The issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
TERMS - ACQUISITION AGREEMENT 1. SANGDONG The Sangdong Acquisition Agreement calls for the following: a. US$80,000 upon signing (paid), US$8,000 November 8, 2006, and US$16,000 January 7, 2007. b. US$720,000 cash and $US800,000 in Company stock issued at a deemed price of the then current 10 day market average at Closing (by February 28, 2007). c. US$2.4 million cash and US$800,000 in Company stock issued at 6 months after Closing; same amounts to be paid again 18 and 30 months after Closing. d. Spend US$800,000 in each of first and second years. e. Spend US$2.4 million in each of years 3, 4 & 5, except spend at least US$16 million if undertaking commercial production.
2. GASADO The Gasado Acquisition Agreement calls for the following: a. US$20,000 upon signing (paid), US$2,000 on November 8, 2006, and US$4,000 on January 8, 2007. b. US$180,000 cash and US$200,000 in Company stock issued at a deemed price of the then current 10 day market average at Closing (by February 28, 2007). c. US$600,000 cash and US$200,000 in Company stock issued at 6 months after Closing; same amounts to be paid again 18 and 30 months after Closing. d. Spend US$200,000 in each of first and second years. e. Spend US$600,000 in each of years 3, 4 & 5, except spend at least US$4 million if undertaking commercial production.
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