Catalyst 2 Delayed, Pistol now drilling is the de

Catalyst 2

Delayed, Pistol now drilling is the delay.  Funding released after first 2 wells completed. Roughly 300k to complete more drills out of lease. Funds released thereafter according to funding agreement.

We plan to commence the drilling of the first 2 shallow Wooldridge wells, which are already permitted, the week of December 1^st, 2012.  Once the first two wells are placed into production the remaining financing will be available and we will begin the process of permitting and drilling the remaining 10 wells in the project.  We expect this project to be fully completed in early 2013, and add an estimated 100 BOPD in production.