Action Energy Inc.

Action Energy Inc. (Action Energy) is an independent emerging energy company. It is engaged in the acquisition, exploration, development and production of oil and natural gas reserves. The company carries out its activities in the Peace River Arch area of Northwest Alberta and Northeast British Columbia, the Lloydminster area of Northeast Alberta, the Galahad and Sylvan Lake areas of central Alberta and the Shackleton area of southwest Saskatchewan and the Lake Alma area of southeast Saskatchewan. It markets its crude oil, natural gas and natural gas liquids production to independent third party purchasers. During 2008, the company average per day production was around 1,499 barrels of oil equivalent (boe). The company is headquartered in Calgary, Canada.The company reported revenues of (Canadian Dollars) CAD 29.42 million during the fiscal year ended December 2008, an increase of 60.57% over 2007. The operating loss of the company was CAD 13.81 million during the fiscal year 2008, as compared to an operating loss of CAD 34.39 million during 2007. The net loss of the company was CAD 9.81 million during the fiscal year 2008, as compared to a net loss of CAD 30.08 million during 2007.