Equitorial Exploration Corp. announced that it has received an update on the lateral drilling of the Clayton #1H well in Runnels County, Texas from Cardiff Energy Corp. (“Cardiff”) as part of the Joint Venture Agreement between the Company and Cardiff previously announced in the Company's news release of September 30, 2015.

Cardiff has also reported that they have acquired an additional 100 Acre prime oil and gas lease bordering the Clayton #1H and have entered into a letter of intent to acquire an additional 400 Acre oil and gas lease adjacent to the Clayton #1H on behalf of the joint venture. Furthermore, Cardiff continues to negotiate other strategic oil and gas lease acquisitions in Runnels County, Texas. The Company has recently executed an amendment to the joint venture agreement with Cardiff previously announced in the Company's news release of October 9, 2015.

Under the newly executed terms the Company has agreed to fund 40% of future lease acquisitions and future wells drilled on those properties.