Murchison Oil & Gas, Inc. is a privately-held independent oil and gas company engaged in the acquisition, development and production of oil and gas resources in the United States. The Company's core areas of operations are the Permian Basin in New Mexico and Texas and the San Juan Basin in Colorado. The Permian Basin is the one of the largest and most prolific basins in the United States, characterized by extensive production history and long life reserves. The basin typically accounts for 40% to 50% of onshore oil rig count in the United States. We have been a successful Permian and San Juan basin operator for over 30 years and have established a strong geographic footprint in these regions.