Entry Into a Material Definitive Agreement On June 12, 2009, the Registrant executed and held a closing under an AGREEMENT AND PLAN OF REORGANIZATION by and between Tamm Oil and Gas Corp (“TAMO”) and the Company wherein the Company exchanged the membership interest in its subsidiary Union Energy (Alberta) LLC, a Colorado limited liability company, which owns eight contiguous sections (totaling 5,120 acres) of oil sands leases in the Peace River Oil Sands Area of northern Alberta, Canada which…

Chief Financial Officer — Stephen Siedow: Stephen Siedow was promoted to Chief Financial Officer.

Chief Financial Officer — Stephen Siedow: Stephen Siedow was promoted to Chief Financial Officer.

Other Events On February 28, 2008, the Registrant's wholly owned subsidiary, Union Energy (Alaska) LLC ("UEA"), learned that its bids for nine tracts of 5,760 acres each and an aggregate of 51,840 acres had won in the State of Alaska North Slope Foothills Areawide 2008 oil and gas lease sale. UEA bid $29,952 for each of the nine tracts and paid a deposit of $6,000 with each bid. UEA will be required to pay the State of Alaska approximately $215,568 to complete the acquisition of these leases.…

Director and Officer — Peter Destler, Deborah Destler: Both Peter Destler and Deborah Destler resigned as officers and directors to pursue other interests.

Completion of Acquisition or Disposition of Assets On December 17, 2007, James Fitzsimons caused an entity that he controls (Union Energy (Alaska) LLC (“UEA”)), to contribute its 100% working interest and 87.5% net revenue interest in its rights to three seven-year oil and gas leases from the State of Alaska in tracts designated 254, 258 and 259 in the North Slope of Alaska covering approximately 17,280 gross (14,807.41 net) acres in total (the “Leases”) to the Registrant. UEA has already pai…

COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS FARM OUT AGREEMENTS WITH JAMES FITZSIMONS On September 20, 2007, we entered into three separate oil and gas farm out agreements with James Fitzsimons. The agreements represent leasehold oil and gas interests totaling 980 gross acres located in Okfuskee County, Oklahoma. Pursuant to the terms of the agreements, we acquired the right to earn 22 oil and gas leases. We obtained the right to earn each of the oil and gas leases in exchange for our…

CHANGES IN CONTROL OF THE REGISTRANT On September 20, 2007, Peter Destler, Deborah Destler and Jonathan Destler sold a total of 890,000 shares of our restricted common stock to James Fitzsimons. Mr. Fitzsimons was elected a director. The number of shares sold to Mr. Fitzsimons represents approximately 84.5%% of our issued and outstanding common stock. Mr. Fitzsimons paid a total of $454,000 to the Destler’s in connection with the share purchase. There are no arrangements or understandings amo…

ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On September 20, 2007, we entered into three separate oil and gas farm out agreements with James Fitzsimons respecting leasehold properties totalling approximately 980 gross acres located in Okfuskee County, Oklahoma. The material terms of these agreements are detailed in

Director — James Fitzsimons: Appointment of a new director with significant industry experience.