On March 16, 2011, the Registrant entered into a "Seismic Option, Farm-out and Participation" agreement ("Agreement") with 1211901 Alberta Ltd., a private Alberta corporation, involving lands described in the title documents as "Twp 49 Rge 15W5M: Section 6", Peco Area, Province of Alberta, Canada ("Lands"). The Agreement is comprised of a Seismic Option, a Farm-Out and a Participation clause, each of which contractually sets out the terms that will underpin the Registrant's exploration obligations and working interest in the project. The Agreement stipulates a commencement date for the shooting of a 3D seismic program on the Lands not later than June 1, 2011.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the agreement which is filed as Exhibit 10.1 to this Current Report and incorporated herein by reference.

(d) Exhibits

  Exhibit

  Number   Exhibit Title or Description

  -------  -------------------------------------------

  10.1    Agreement dated March 16, 2011