IPR North America Holdings Corp. acquired 100% of the stock ownership of Santos USA Corp’s natural gas exploration and production assets and select holdings of Santos TPY Corp. on April 1, 2007, through a competitive domestic sales divesture brokered by Scotia Waterous, giving IPR its first entry into the USA oil and gas operations. Significant upside potential exists in oil and gas and near term delineation and development opportunities in onshore geological trends, mostly along the Gulf of Mexico Coast. IPR gained immediate access to over 75 operated and non-operated leases in 10 states with over 135 wells, with ongoing and budgeted work programs in very promising areas. IPR continues to explore and develop prospects which were not pursued by it’s predecessors. Active drilling in Jefferson and Matagorda Counties is hopeful to bring accelerated production and newly looked reserves.