Pardee Resources Company’s ownership of coal, timber, surface lands and oil & gas has expanded significantly in recent years as a result of our aggressive acquisition efforts dedicated to acquiring diversified natural resource properties that possess future opportunities for growth. The natural resource development opportunities identified prior to completing the acquisition are formulated into detailed development plans which are immediately implemented following the closing. Many of the properties we acquire have potential for coal, timber, oil & gas, and rural real estate development, sometimes all on the same tract. Though our primary focus continues to be the acquisition of real property possessing potential for traditional development opportunities, the Company is currently analyzing opportunities to further diversify it’s energy related investments by expanding into the renewable energy industry, including wind, biomass, and solar. The Company anticipates continued future growth through new acquisitions and responsible development of its current holdings.