Summary

LogSearch has been in the development stage since its formation on March 2, 2004. LogSearch plans to market software pursuant to a Commercialization Agreement with Unitech Energy Corp. for the United States market. The Commercialization Agreement covers a database management and analysis system known as LeadScan ("LeadScan"). The LeadScan system is currently being used by its developer and owner, Unitech, to locate oil and gas in the Western Canadian Sedimentary Basin.

Recent increases in oil and gas prices have kept the oil and gas software market very active, and we believe, based on our subjective observations of the U.S. oil and gas market, that...