We are engaged in the acquisition, development, exploitation and production of oil and natural gas. Prior to December 31, 2001, our activities, conducted entirely through our predecessor, Gothic, were not significant and involved very limited oil and natural gas exploration in the southern United States. Since December 31, 2001, we have engaged in several transactions which we believe will enhance our oil and natural gas development, exploitation and production activities and our ability to finance further activities. On December 31, 2001, we acquired the oil and natural gas and related assets of Couba Operating Company (“Couba”), which prior to our acquisition of it had commenced in March 2000 an involuntary Chapter 7 Bankruptcy proceeding which was converted to a Chapter 11 debtor in possession proceeding the following month. On February 8, 2002, we completed a statutory corporate reorganization which resulted in our domestication as a corporation into the U.S. from Canada. Prior to that reorganization, our parent corporation was a Canadian corporation. We are now an Oklahoma corporation. Commencing in the second half of 2002, we have engaged in a series of financing transactions intended to enable us to initiate and pursue exploration and development activities on the properties we have acquired. During 2002 and 2003, we were able to return to production six (4.9 net) well bores drilled by prior owners on the Couba properties we acquired. Our drilling activities commenced in February 2003 and as of September 30, 2004 we had drilled and completed 7 (2.6 net) wells. All of our drilling and production activities are conducted in St. Charles Parish, Louisiana.