We have been in the development stage, and to date our activities have mainly included initial organization, capital formation, acquisition of mineral leases and/or production sharing contracts giving us the right to explore for, develop, produce and sell oil and gas or coalbed methane, and, notably, we have now drilled our first three wells in Yunnan to total depth. The drilling program will continue as described hereinbelow. In October 2003, we drilled our first well on the Enhong-Laochang coalbed methane block in the Yunnan Province of the PRC. On January 8, 2004, we spudded our second well on the Enhong-Laochang Block and the well reached total depth on February 18, 2004. Our third well in China (the FCY-EH01well) was spudded on March 16, 2004. The well is located on Far East’s Enhong Block in Yunnan Province near Shang Sheshui Village. This is the third of five exploration wells which are expected to be drilled and completed by the early summer of 2004.