Slave Point Oil Discovery 2010

• Spudded its first exploration well in the Dawson, Alberta area in December 2009 and a second well was drilled in February of 2010
• Both wells were placed on production at the end of March 2010. These two oil wells are currently producing 90 (50 net) bbl of oil per day
• The Company has no further development plans for the area and is using funds generated by the property to finance exploration and development activities on other properties