OIL AND GAS PROPERTIES	12 Months Ended
May 31, 2012
OIL AND GAS PROPERTIES
OIL AND GAS PROPERTIES	NOTE 2. OIL AND GAS PROPERTIES During the fiscal year ended May 31, 2010, the Company entered into a working interest purchase agreement with Enercor, Inc. (a Nevada corporation), with respect to a lease which is a State of Utah BLM (Bureau of Land Management) lease in which other parties retain a 37.5% working interest after our purchase of a 62.5% working interest from Enercor. This lease had oil and gas drilling rights. This lease was acquired in July of 2009 through the issuance of Company stock valued at $312,000. At the fiscal year end on May 31, 2010, the fair market value was determined to be $60,000, with the Company taking a write down expense of $252,000. At the fiscal year end on May 31, 2011, management determined that this lease would not be able to generate any future benefit to the Company and therefore the fair market value was determined to be $0, with the Company taking a further write down expense of $60,000. The acquisition of each of these leases was accomplished primarily through the issuance of new shares of Company common stock.

OIL AND GAS PROPERTIES

12 Months Ended

May 31, 2012

NOTE 2. OIL AND GAS PROPERTIES

During the fiscal year ended May 31, 2010, the Company entered into a working interest purchase agreement with Enercor, Inc. (a Nevada corporation), with respect to a lease which is a State of Utah BLM (Bureau of Land Management) lease in which other parties retain a 37.5% working interest after our purchase of a 62.5% working interest from Enercor. This lease had oil and gas drilling rights. This lease was acquired in July of 2009 through the issuance of Company stock valued at $312,000. At the fiscal year end on May 31, 2010, the fair market value was determined to be $60,000, with the Company taking a write down expense of $252,000. At the fiscal year end on May 31, 2011, management determined that this lease would not be able to generate any future benefit to the Company and therefore the fair market value was determined to be $0, with the Company taking a further write down expense of $60,000.

The acquisition of each of these leases was accomplished primarily through the issuance of new shares of Company common stock.