...."In June 2004, the Company formed a new subsidiary, OIL ID Systems, Inc., which subsequently acquired 38 wells in east Texas and is now headquartered in Dallas.
This subsidiary subsequently changed its name to Curado Energy Resources, Inc.
The principals involved in this subsidiary have 25 years of experience in the
marketing of and exploration for petroleum products and services.
On September 30, 2004, the Company entered into a share purchase agreement with
Kolt Oil and Gas, a Texas Corporation, to acquire the business, operations and
prospects of Kolt. Subsequently, Kolt was not able to deliver all of the
consideration promised; therefore, the Company agreed that the only asset which
Kolt would have is a Texas operator's license for oil and gas properties. The
Company issued 150,000 shares of restricted stock in exchange for this asset."...
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