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Etoco, L.P. is a private oil and gas company with a small group of experienced personnel that acquire leases, explore for oil and gas and operate producing properties in Texas and Louisiana. The Company plans to continue expanding its operations within Texas and Louisiana and plans to expand its operations into Colorado and Mississippi. For the fiscal year ended June 30, 2008, the Company spent over $61 million for property, equipment, drilling and capital expenditures, had gross income from oil and gas sales of over $82 million, only 4.2 percent of its gross revenue was spent on general administrative costs, its current assets exceed its current liabilities by almost $12 million and the net value of its oil and gas properties, after depletion, depreciation and amortization, was over $97 million.
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