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Note 6 - Subsequent Events
3 Months Ended
Mar. 31, 2013
Notes  
Note 6 - Subsequent Events

Note 6. Subsequent Events

 

On April 10, 2013, the Government of Equatorial Guinea in West Africa ratified a Production Sharing Contract with Brenham Equatorial Guinea, LLC, a subsidiary of Brenham Oil & Gas Corp.  Pursuant to the terms of the Agreement, Brenham received a 15% participating interest in newly-created Block Y, which consolidates four offshore exploration blocks into a single, half-million acre license.  Xuan Energy is the operator of Block Y.  On May 8, 2013 XUAN Energy made a proposal to Brenham Equatorial Guinea, LLC to exchange its 15% interest in Block Y into a 3% carried interest.  Brenham Equatorial Guinea, LLC accepted the XUAN Energy offer.  Subsequently, Xuan Energy advised Brenham Equatorial Guinea, LLC that it did not intend to go through with the offer.