To+the+Executives

April 12, 1948

Atlantic Oil Company Well No. 3, Leduc County Alberta, Canada T4X OJ6

Dear Shareholders:

Thank you for your continued loyalty to our company. Due to certain circumstances, we have encountered some complications upon drilling in Well No. 3. We are putting forth our best efforts in maintaining these matters. For the time being, dikes and pits have been built in order to contain the oil. These new developments have been a huge success with supplying an estimate of 15,000 barrels of oil per day. With this advantage, large amounts of oil are now being shipped and sold to the market daily.

Fortunately, the project coordinator believes that all difficulties dealing with Well No. 3.will soon be sustained. Our workers on site are being advised to take major precautions. Although this incident has not led to any deaths, we will continue to ensure the safety of all lives. The dangerous factors that are presented to us at this time will be taken into consideration when drilling in the future.

Cordially yours,

Alexandra Martin Site Engineer Well No. 3, Leduc County Alberta Canada T4X OJ6

--- Aquileidy Perez Site Engineer Well No. 3, Leduc County Alberta Canada T4X OJ6

--- Cynthia Swiderski Site Engineer Well No. 3, Leduc County Alberta Canada T4X OJ6