AP Petroleum owns 100% interest in the Prairie Dell gas field, 31 producing wells, production facilities, 81,300 (gross) or 78,500 (net) acres of prospective oil and gas leases in Montana, and over 10 miles of 2D seismic and 3 square miles of 3D seismic data. The overriding royalty is 12.5% on all of the leases owned by AP Petroleum.

The total consideration paid for this acquisition was C$3.66 million, comprised of C$2.7 million cash and 1.21 million units. Each unit consists of one common share and one share purchase warrant exercisable into one common share at a price of C$1.10 until January 18, 2009.