L and M Petroleum Limited

L&M Petroleum Limited (L&M Petroleum) is a developing energy company. It is engaged in upstream activities of the energy value chain. It carries out exploration programs to discover major oil and gas reserves in South Island, New Zealand and a multi-well drilling campaign to confirm the coal seam gas resources in its onshore permits in the Western Southland Basin. It has four petroleum exploration permits onshore and offshore in the Western Southland Basin of the South Island of New Zealand. Of these four permits, the company holds 100% interest in three permits and 50% interest in the fourth permit. L&M Petroleum is headquartered in Wellington, New Zealand.The company reported revenues of (N.Z. Dollars) NZD 0.40 million during the fiscal year ended 2008, a decrease of 92.41% from 2007. The operating loss of the company was NZD 6.87 million during the fiscal year 2008, as compared to an operating loss of NZD 1.96 million during 2007. The net loss of the company was NZD 5.69 million during the fiscal year 2008, as compared to a net loss of NZD 0.89 million during 2007.