Material Event Form 8 K

Item 8.01 Other Events.

The Company has received necessary agency approvals to reenter the Peterson Fed 88-21P well bore in southeast Utah.

The Bureau of Land Management (BLM) and the Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM) reviewed the submission and concluded that the Company's Notice met regulations required to reenter the well. The company has also to secure a financial guarantee in the form of a bond in order to begin work.