U.S. Oil & Gas Plc. provided operations update. During drilling operations at the Eblana-3 well in April 2018, multiple potential hydrocarbon-bearing zones were identified from cutting samples, mud logs, and processed wire-line logging data. After a review of all available data, six zones indicating a higher potential for hydrocarbons were selected for perforation. Downhole operations, including perforating selected formations, were conducted between June 18 and June 30, 2018 using a workover rig, and continued between 12 August and 19 August after the granting of additional regulatory permissions. Preliminary testing: The purpose of the preliminary testing was to determine which if any of the identified and perforated zones were suitable for production testing and to prepare the selected zone or zones by clearing formation debris. Possible formation damage would also be assessed and additional perforations carried out. Current operations: Workover rig operations were terminated and the rig stood down on October 24. A jack pump was then set to pump monitored fluids for an extended period with the objective of clearing the zone 5 formation and allowing oil to flow. If the well flows, extended production testing will be carried out. If pumping fails to clear the formation but the data continues to support the belief that a viable reservoir is present and that local permeability is preventing commercial flow, then alternative methods will be examined, including hydraulic fracturing of the formation. Additional acreage acquired: On the basis of the initially encouraging results from the Eblana-3 drill and the flowing of high quality oil to the surface, in June and July 2018 the company bid for further Hot Creek Valley leases in auctions held by the Bureau of Land Management (BLM). The award of those leases has now been confirmed and the total acreage position of the Company is 73,725 acres. Based on gravity survey data, at least three large potential hydrocarbon-bearing structures exist within the new acreage. The total annual lease cost to the company of the additional lands is $78,070.