Etoco maintains a small team of experienced, multi-disciplined employees with strong engineering, technical and operational backgrounds supported by state-of-the-art technologies and management information systems. Etoco has focused upon, and intends to continue to develop, a portfolio of operated high-working-interest oil and gas properties located in the Texas Gulf Coast Region, Louisiana, Mississippi, and Colorado that will generate cash and consistently earn above average returns on capital employed.

2005 Highlights

• For the fiscal year end June 30, the Company's gross revenue increased from $27.8 million to 2003 to $41.7 million in 2004 and should exceed $60 million in 2005.
• The Company spends a large percentage of its budget for leasehold acquisitions and for drilling, completing and producing wells.  Only about six percent of its gross revenue is spent for general and administrative costs. 
• In 2004, the Company's total current assets exceed its total current liabilities by about $2.3 million, including a bank loan of $2.8 million.