Richard Smith

The Company is seeking and reviewing new oil and gas exploration projects. The Company recorded a write-off of its interest in the Montana and North Dakota projects during the 2007 fiscal year as the exploration wells that were drilled were deemed to be commercially uneconomical During fiscal 2006, the Company acquired the rights to seismic geophysical data covering certain oil and gas prospects located in South Texas in consideration for $55,000. These costs are not related to the unproved properties already acquired. Because the Company does not have any properties with proved reserves, these costs were included in property investigation expenses.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.

The Company is seeking and reviewing new oil and gas exploration projects. The Company recorded a write-off of its interest in the Montana and North Dakota projects during the 2007 fiscal year as the exploration wells that were drilled were deemed to be commercially uneconomical During fiscal 2006, the Company acquired the rights to seismic geophysical data covering certain oil and gas prospects located in South Texas in consideration for $55,000. These costs are not related to the unproved properties already acquired. Because the Company does not have any properties with proved reserves, these costs were included in property investigation expenses.

Petrobank Energy & Resources Ltd. operates as a heavy oil exploration and production company with operations in Western Canada. It operates through two business units: Whitesands and Archon. The Whitesands unit focuses on developing Petrobank's oil assets located in the Peace River, Alberta area and Saskatchewan's heavy oil belt. The Archon unit focuses on pioneering new and improved methods of finding and producing oil. The company was founded by James D. Tocher and Jerald Lindsay Oaks on December 1, 1983 and is headquartered in Calgary, Canada.