January 16th 2008
Dear Shareholder,
On Monday January 14th 2008 the Ontario Securities commission issued a temporary cease trade order against Shallow Oil & Gas Inc. The OSC claims that certain filings have not been complied with to date. In this regard, we plan on having our solicitors review the claim and make recommendations. Hopefully, we can resume our activities very soon.
On a positive note, I have put my signature to an offer to lease a parcel of property in Ontario that we believe does contain very high concentrations of hydrocarbons. We look forward to completing this first of many land acquistion transactions.
I will keep you up to date as the process unfolds.
Best Regards,
Eric O'Brien, President
Shallow Oil & Gas Inc.
January 9th 2008
We are very pleased to report that after an exhaustive search we have awarded the contract and retained the services of ELS & Company ( www.elsandcompany.com ) to assist with our land management and acquisition functions.
Currently, we are examining 5 Ontario parcels which have been identified as sites containing potential hydrocarbon reserves in such quantities as to make their exploitation extremely economically viable. Decisions on these specific sites will be completed within the next several weeks and we will report to you the exact locations and exploitation schedule contemplated.
Of course, we continue to examine various sites, farm in deals and joint ventures nationally and internationally and look forward to making specific announcements as to those acquisitions and mergers as they occur.