Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective July 31, 2009, William P. Brand, Jr. was elected to serve as the Chief Financial Officer of the registrant.

William P. Brand, Jr. became our Chief Financial Officer effective July 31, 2009. From February 2009 until July 31, 2009, he served as Manager of HR Energy, LLC, a privately-owned oil and gas exploration company. From June 2008 until December 2008, he served as Interim Chief Financial Officer, Interim Secretary and Interim Treasurer of Galaxy Energy Corporation, and on October 1, 2008 joined Galaxy on a full time basis. From December 2006 through April 2007, he served as Controller and Chief Accounting Office of Teton Energy Corporation in Denver, Colorado. From August 2005 through July 2006 he was Vice President Finance for PRB Energy Inc., in Denver, Colorado. From November 2003 through July 2005 he served as a project Consultant and worked on several projects in the Denver area, including the restatement team for Qwest Communications International as well as several SOX 404 compliance projects, in Denver, Colorado. He served as Controller and Finance Director from January 2001 until August 2003 for Orica USA Inc., an international manufacturer of mining services products, and from November 1994 through December 2000, he served as Finance Manager/Director for US West International and successor companies, MediaOne Inc. and AT&T Wireless International, in Denver, Colorado and Seattle, Washington. Prior to that he served in several capacities with Monsanto Company, Monsanto Oil Company, and successor, BHP Petroleum Americas Inc., in St. Louis, Missouri, Denver, Colorado and Houston, Texas. He holds a Bachelor of Science degree and an MBA degree from Southern Illinois University, Carbondale Illinois, and is a CPA, inactive, State of Texas.

Mr. Brand will receive an annual salary of $120,000.