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Mineral Claims
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Mineral Claims

 

Wood Mountain North

 

Pursuant to an agreement of May 4, 2006, the Company granted a 15% option to the mineral claim to Cobra Energy, Inc. in exchange for a payment of $50,000 that was originally treated as a deposit. The deposit was brought into income in 2007 when Cobra did not commit any more funds as was required under the agreement, thereby giving up their rights to any revenue therefrom.