EX-99.1 3 ex99-1.txt PRO FORMA FINANCIAL INFORMATION Exhibit 99.1 PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the year ended December 31, 2000 and Three Months Ended March 31, 2001 (Unaudited) The Company entered into an Agreement and Plan of Reorganization in which the Company will merge with Enpetro Mineral Pool, Inc. ("Enpetro"). Prior to the merger, Enpetro acquired certain oil and gas properties and intends to develop these properties. Enpetro had no operations prior to the acquisition of these oil and gas properties. The agreement stipulates that the Company will acquire all of the outstanding voting shares of Enpetro for 228,000,000 post reverse split common shares of the Company. The shareholders of Enpetro will own a substantial controlling interest in the Company. The merger will be accounted for as a reverse acquisition. BALANCE SHEETS MARCH 31, 2001

---------- 1. Reflects the adjustment for the one for two reverse stock split and issuance of shares in the merger transaction. 1 Statements of Operations Year Ended December 31, 2000

2 Statements of Operations Three Months Ended March 31, 2001

* Less than $0.01 per share 3 FOOTNOTES TO PROFORMA FINANCIAL INFORMATION: There are no significant proforma adjustments. Enpetro had no operations prior to the Company's acquisition of Enpetro. The value of Enpetro's acquisition of oil and gas properties was determined by the analysis and report of an independent petroleum engineer. The valuation is based on certain oil and gas leases, and underlying reserves, acquired by Enpetro. The merger transaction was valued on the basis of the valuation of those oil and gas properties. Enpetro had no other significant assets or liabilities. Legal and professional fees associated with the merger are excluded from the proforma financial information. 4

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