Report
to ACOR Shareholders
Update on ACOR’s 6.7 Million Acre ATP-582 in the Georgina
Basin
“Look-A-Like” Bakken Oil Shale Unconventional Play Heats
Up
Dear Shareholder,
There has been a profound ground swell of interest in
unconventional exploration and development globally in
recent years and much of that interest stems from
developments in the US, where billions of dollars have
been spent by large oil companies to acquire parts of new
unconventional plays such as the Barnett Shale and Bakken
Shale with technically estimated recoverable resources of
approx. 50 TCF of gas and approx. 4 billion barrels of
oil.
The operators adjoining ACOR’s ATP-582 to the east and
west have recently hired outside engineering studies on
their acreage and have determined that unconventional
reservoir resource assessment of the Arthur Creek
formation have similar geological features.
The operator adjoining west to ACOR’s
ATP-582 states that their 3rd party independent
study estimates approx. 27 Billion bbls oil. This
operator has just announced a $US 32 million dollar
drilling program which includes drilling 3 horizontal
wells and 3 vertical wells to test the Arthur Creek
formation
and to be stimulated using multi-fracing
techniques. It is believed to
be the 1st time ever to use these techniques onshore in
Australia.
The operator adjoining east to ACOR’s ATP-582 states that
their 3rd party independent study estimates
approx. 5 Billion bbls oil and approx. 33 TCF of gas.
ACOR was recently represented in Perth Australia at the
Australian Petroleum Production & Exploration Association
Ltd (APPEA)
Convention, the excitement of the Arthur Creek oil shale
resource possibilities was a big part of the discussions
and the area is receiving international attention.
The APPEA
Oil and Gas Conference and Exhibition has
established itself as THE leading event for both
networking and learning for the Australian oil and gas
sectors, drawing both local and international attendees.
ACOR management is very excited to see the same horizontal
drilling and multi-fracing techniques that have proven
successful in the US & Canada finally about to be applied
in Australia adjoining ACOR’s ATP-582.
ATP-582
is located in Queensland Australia with part of this giant
oil & gas concession located in the Georgina Basin and
part in the prolific Cooper/Eromanga Basin. The permit
area covers approximately 6,716,000 gross acres.
ACOR
owns a 50% carried working interest under approx.
6,716,000 gross acres of ATP-582.
Sincerely, Robert
Kamon
Secretary
ACOR’s PEL 444, PEL 112 & PEL 111 are Located in an Oil
Boom in the Western Oil Rim of the Cooper/Eromanga Basin
in South Australia
Dear Shareholder,
ACOR is well positioned in the exciting new oil
producing trend in the western rim of the Cooper/Eromanga
Basin, which is Australia’s largest oil and gas
producing basin. ACOR has carried working interests and
overriding royalties under thousands of acres along this
western oil rim.
The Western Oil Rim is an attractive exploration target
for three reasons.
1. It is one of the few places where hydrocarbons from Cooper Basin
source rocks can migrate into traps in the overlying
Eromanga Basin. In most places, a cap rock at the
unconformity between the Cooper and Eromanga prevents
this happening, but along the western margin the cap
rock is faulted, eroded or otherwise missing.
2. The western margin is only lightly explored. Santos
made oil discoveries at Charo and Callabonna in the
early 1990s, but it left thousands of miles unexplored
because of its priority on gas exploration.
3.
The Permian source beds sub crop under the Jurassic
Reservoir beds with porosities up to 25% and
permeabilities up to 10,000 millidarcies.
Exploration in recent years has produced a series of oil
discoveries within the western oil rim. As of April
2010, approximately
23,630,870
barrels of oil has been produced in the western oil rim
or $US1,654,160,900 using $US70.00 per barrels crude oil
prices.
Important Notice:
There are 10
New Field Discoveries not reported in the 23,630,870
barrels of oil production figure.
Those new
oil fields are Snatcher, Warhawk, Marino Tigercat,
Tigershark, Wirraway, Marino, Chilton, Purlubie,
Purlubie South & Butlers.
Concession Adjoining
ACOR’s PEL 112 Draws Highest Guaranteed Bid in Acreage
Release
The South Australian Government recently announced
successful bidders on five new Petroleum Exploration
Licenses within the Cooper Basin.
The highest guaranteed bid was offered on Block CO2009-A
which directly abuts the northern borders of ACOR’s PEL
112 concession (see map). The winning bid requires
ACOR’s newest neighbor to drill 12 exploration wells and
shoot 650 square kilometers of seismic on the acquired
acreage at an estimated cost of approximately
$AU25,000,000.
"The highly competitive bidding reflects the petroleum
industry's continuing view that the South Australian
Cooper Basin represents a real asset in their
exploration portfolios... it clearly indicates their
perception of the potential for further oil and gas
discoveries...," stated Hon. Paul Holloway, South
Australia's Minister for Mineral Resources. "Success
rates for oil are high and discoveries can be
commercialized within months," Holloway continued. "The
country's exploration industry has been reshaped by the
turnover of Cooper Basin acreage since 1998 through a
number of 'Company-Making' discoveries... The CO2009
acreage release confirms that the Cooper Basin remains a
very attractive exploration address."
About PEL 111
Snatcher Oil Field Commenced 1st Oil
Production in January 2010.
The Snatcher Oil Field is situated on the Western Oil
Rim, with the Snatcher-1 and Snatcher-2 wells producing
oil from a channel system present within the Jurassic
Birkhead Formation.
The Snatcher-3 oil discovery will be placed on
production in 2010.
ACOR owns a 1/10th of 1% ORRI under PEL 111, which
includes the Snatcher Oil Field, covering approximately
292,819 gross acres.
About PEL 112 & PEL 444
In June, the operator of PEL 112 & PEL 444, released a
press release stating the results of an independent
petroleum study which increases the probable (P90)
reserves in ACOR’s PEL 112 & PEL 444, located in
Australia's Cooper/Eromanga Basin by 600%.
The study, received by the operator on June 12th
2009, analyzed only
10 of 45 drilling leads
and concluded undeveloped P90 and mean risked reserves
related to those leads were approximately 25,300,000
barrels of oil and approximately 31,600,000 million
barrels of oil, respectively.
The independent study was conducted by ISIS Petroleum
Consultants Pty. Ltd. of Australia, an internationally
recognized petroleum engineering firm. The reported
increase in reserves results, in largest part, from the
likely migration of oil past the Cooper Basin's Permian
zero edge resulting in the recognition of the Namur
Sandstone as the Company's primary reservoir.
The operator of PEL 112 & PEL 444 states that seismic
acquisition and a 5-well drilling program to begin
exploration of the leases will require expenditures in
excess of $11,000,000.
ACOR owns a 13.83% working interest under PEL 112 & PEL
444 and is 100% fully carried for its 13.83% working
interest in the next 2 wells drilled on either block.
ACOR will pay their proportionate part on any
exploration cost thereafter. PEL 112 and PEL 444
comprise of approximately 4,544 Sq. kilometers or
approximately 1.125 million gross acres.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO
LONG-TERM DEBT. ACOR's principal assets consist of
15,440,116 gross surface acres of overriding royalty
interest and 8,561,007 gross acres of working interests,
located Onshore Australia in the Cooper-Eromanga Basin
and Offshore Australia in the Gippsland Basin in the
Bass Strait.
ACOR is a publicly traded oil company trading on the
NASDAQ OTC Bulletin Board Exchange under the trading
symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and
ACOR is positioned for possible "Company-Maker"
discoveries. ACOR's working interests and overriding
royalty interests are located offshore & onshore in the
best producing basins.
Disclaimer:
Except for historical information contained herein, the
statements released are forward-looking statements that
are made pursuant to the provision of the Private
Securities Litigation Reform Act of 1955.
Forward-looking statements involve known and unknown
risks and uncertainties that may cause the Company's
actual results in future periods to differ materially
from forecasted results. Such risks and uncertainties
include, but are not limited to, market conditions,
competitive factors, the ability to successfully
complete additional financings and other risks.
Contact:
Australian-Canadian Oil Royalties Ltd.
Investor Relations, 254-442-2638
acor@classicnet.net
Sincerely, Robert
Kamon
Secretary
AUSTRALIAN-CANADIAN OIL
ROYALTIES LTD.
Notice of Annual Meeting of Stockholders
to be held December 15, 2010
Cisco, Texas
November 22, 2010
PLEASE TAKE NOTICE that the Annual Meeting of the
Stockholders of Australian-Canadian Oil Royalties Ltd.
will be held on December 15, 2010 at 1301 Avenue M, Cisco,
Texas. The meeting will convene at 10:00 a.m. (CST) for
the following purposes:
1) For the election of directors;
2) To ratify the selection of Killman, Murrell &
Company, P.C. as independent auditor for 2010; and
3) For the transaction of such business as may properly
come before this meeting.
The transfer books of the Company will not be closed,
but only stockholders of record at the close of business
on November 15, 2010, will be entitled to vote at the
meeting.
STOCKHOLDERS ARE CORDIALLY INVITED TO ATTEND THE
MEETING IN PERSON. WHETHER OR NOT YOU EXPECT TO ATTEND THE
MEETING IN PERSON, PLEASE SIGN AND DATE THE ACCOMPANYING
PROXY AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE TO
ASSURE YOUR REPRESENTATION AT THE MEETING. YOU MAY REVOKE
YOUR PROXY AT ANY TIME PRIOR TO ITS EXERCISE BY GIVING
NOTICE TO THE COMPANY OR BY ATTENDING THE MEETING AND
VOTING IN PERSON. YOUR VOTE IS IMPORTANT.
Andre Sakhai
President
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY
MATERIALS
FOR THE SHAREHOLDERS’ MEETING TO BE HELD ON DECEMBER
15, 2010
Copies of this Proxy Statement for the 2010 Annual
Meeting
and the Annual Report on Form 10-K
for fiscal year 2009 are also available on the
Company’s website at
www.aussieoil.com
PROXY STATEMENT
AUSTRALIAN-CANADIAN OIL ROYALTIES LTD.
1301 Avenue M
Cisco, Texas 76437
The following information is furnished to stockholders
of Australian-Canadian Oil Royalties Ltd. in connection
with the solicitation by the Board of Directors of the
Company of proxies to be used at the Annual Meeting of
Stockholders to be held on December 15, 2010 and at any
adjournment thereof. All properly executed proxies will be
voted in accordance with the instructions contained
thereon, and if no choice is specified, the proxies will
be voted for the election of all the directors named and
in favor of each proposal set forth in the Notice of
Meeting.
Any Australian-Canadian Oil Royalties Ltd. shareholder
has the power to revoke his Proxy before its exercise at
the Annual Meeting or any adjournment thereof by: (1)
giving written notice of revocation to the Secretary of
the Company, Robert Kamon, P.O. Box 1629, Cisco, Texas
76437, prior to the Annual meeting; (2) giving written
notice of revocation to the Secretary at the Annual
Meeting; or (3) signing and delivering a Proxy bearing a
later date. However, the mere presence at the Annual
Meeting of a shareholder who has executed and delivered a
valid Proxy will not revoke such Proxy.
There are no dissenters =
rights of
appraisal. Neither the By-Laws nor corporate law of the
Company=s
state of Incorporation call for any dissenters=
rights of
appraisal.
This proxy statement will be transmitted to
stockholders on or about November 22, 2010.
RECORD DATE
Holders of shares of common stock of the Company of
record at the close of business on November 15, 2010 will
be entitled to vote at the Annual Meeting of Stockholders.
VOTING
The voting securities of the Company entitled to vote
at the meeting consist of shares of the no par value
common stock of the Company with each share entitling its
owner to one vote. Cumulative voting is not allowed. The
number of outstanding shares (exclusive of treasury
shares) at the close of business on November 15, 2010 was
20,048,284 shares.
The holders of record of 50.1% of the outstanding
shares of Common Stock of the Company will constitute a
quorum for the transaction of business at the Meeting, but
if a quorum should not be present, the Meeting may adjourn
from time to time until a quorum is obtained.
A majority of the shares represented and entitled to
vote at the meeting are required for an affirmative vote.
An abstain vote will be counted in determining a quorum,
but will not be counted as a vote either for or against
the issues.
ELECTION OF DIRECTORS
At the Meeting, six directors are to be elected who
shall hold office until the next following Annual Meeting
of Shareholders or until their successors are duly elected
and qualified. In the absence of specific directions, it
is the intention of the persons named in the enclosed form
of proxy to vote such proxy for the election of the
nominees named below. However, should the person solicited
make certain specifications as to any matter to be voted,
these shares will be voted in accordance with the
specifications so made. If one or more of the nominees
named below is not a candidate for election as a director
or directors at the meeting - an event which the Company
does not anticipate - the proxy will be voted for a
substitute nominee or nominees and the others named below.
Management =s
nominees for these directorships are set out below giving
their ages and position to be held.
Name Age Position
Andre Sakhai 29 President & Director
Robert Kamon 83 Secretary & Director
Kenneth W. Campbell 80 Director
Howard Siegel 68 Director
Jan Soleimani 59 Director
Bernard Lipton 69 Director
Andre Sakhai , Director and
President, attended Arizona State University, which
included a curriculum of financial accounting and
microeconomics, as well as money and banking. Mr. Sakhai
is a licensed real estate salesperson in the state of New
York and has other experience in computer functions as
well as experience in all aspects of the financial
markets.
Robert Kamon , Director and
Secretary, is a petroleum-engineering graduate of the
University of Texas at Austin, Texas. Mr. Kamon has been
President of three NASDAQ listed companies. He is
currently the President of several private companies -
Australian Grazing and Pastoral Co. Pty. Ltd. since 1954,
International Oil Lease Service Corp. since 1961, and
Tensleep Oil and Production Inc. since 1989.
Kenneth W. Campbell ,
Director, is a graduate of the University of Brandon
(Manitoba, Canada). He is President of Solar Energy
Resources, Ltd., a privately held independent Canadian oil
and gas producer. Mr. Campbell is a highly respected
geologist.
Howard Siegel , Director, is a
graduate of the University of Oklahoma and has a law
degree from Saint Mary’s University Law School. Mr. Siegel
has been a member of the State of Texas Bar Association
since 1969 and became a member of the Colorado Bar
Association in 1989. Mr. Siegel has over thirty years of
experience in all matters of corporate law, oil & gas,
real estate, employee benefits, taxation and general
practice.
Jan Soleimani, Director, is
the owner of Bokara Rug Company in New York. His company
manufactures high quality handmade rugs for distribution
to elite furniture stores across the United States. Mr.
Soleimani has been an active businessman for 32 years in
the manufacturing and distribution of high quality
handmade rugs plus has been involved in other successful
business ventures including real estate development.
Bernard Lipton , Director, is
a certified public accountant certified by the State of
New York in 1968. He is the founder and managing member of
Lipton & Associates LLP and has been self-employed for the
past forty years. His practice encompasses the tri-state
area around New York and services clients in all fields
with an extensive tax practice.
Vote required and recommendation of the Board
An affirmative vote of the holders of a majority of the
issued and outstanding shares of Common stock is necessary
for the election of directors.
The Board of Directors recommends a vote for the above
named directors to be elected as directors to hold office
until the next Annual Meeting or until their successor is
duly elected and qualified.
BOARD AND COMMITTEE MEETINGS
Six meetings have been held during 2010. All directors
participated in at least 75% of the Board meetings. The
Board of Directors has no nominating committee. The audit
committee held one meeting and all members attended. The
compensation committee held one meeting and all members
attended.
MANAGEMENT
All of the Company =s
executive officers serve a term of one year or until their
successors are elected or appointed and qualified.
The following table sets forth certain information with
respect to the executive officers:
Name Age Position
Andre Sakhai 29 President
Robert Kamon 83 Secretary/Treasurer
Following the annual meeting the newly elected
directors will elect officers for the next year.
COMPENSATION
Officer Compensation - The executive officers of ACOR
have received no salary, bonus or stock compensation since
the organization of the Company, with the exception of
$3,000 paid in 2008 to the Chief Financial Officer,
Bernard Lipton. Mr. Lipton also received 33,334 restricted
shares during 2008 valued at $10,000. During 2009 the
Company paid $3,000 to its Chief Financial Officer, Mahnaz
Nourmand, who also received 76,293 restricted shares
valued at $10,000. The Company has no bonus, pension, or
profit sharing plans.
Director Compensation – In 2006 the Board approved the
issuance of 30,000 restricted shares to each director, and
in 2007 and 2008 the Board approved the issuance of 40,000
restricted shares to each director, to be issued only when
requested by the director. Howard Siegel was issued 30,000
shares in 2006, 40,000 shares in 2007 and 2008. Kenneth
Campbell, Robert Kamon and Andre Sakhai received all
110,000 shares in 2008. Jan Soleimani received 80,000
shares in 2008.
In 2009 the Board approved the issuance of 50,000
shares to each director to be issued only when requested
by the director. The Company issued 50,000 shares to
Howard Siegel and Robert Kamon in 2009 and issued 50,000
shares to Andre Sakhai and Kenneth Campbell in 2010. The
Board has not approved the issuance of any shares to
directors for 2010.
Stock Compensation Plan (the "Plan") - The Board
approved the Plan in 2008 and registered 1,000,000 shares
for the Plan. The purpose of the Plan is to provide a
means by which key employees, officers, directors, and
consultants may be given an opportunity to acquire Common
Stock of the Company in payment for services performed for
the Company. The Plan provides incentives for such persons
to exert maximum efforts for the success of the Company.
No shares have been issued under the Plan to date.
STOCK PRICE
The stock is listed on the OTC Bulletin Board (Symbol:
AUCAF). We report that the current market price is $0.02
bid, $0.18 ask and the last trade was $0.06 on November
12, 2010.
CERTAIN TRANSACTIONS
No transactions occurred during 2010 between officers
and directors and the Company, except for foreign leasing.
Several of the officers and directors of the Company have
invested in the oil and gas business, either directly or
through entities in which they have an interest. Certain
of these interests could directly compete with the
interests of the Company. Although the Company is not
aware of any present conflicts of interests, such present
or future activities on the part of the officers and
directors could directly compete with the interests of the
Company. If the Company should enter into future
transactions with its officers, directors or other related
parties, the terms of any such transactions will be as
favorable to the Company as those which could be obtained
from an unrelated party in an arm =s
length transaction.
PRINCIPAL STOCKHOLDERS
The following table sets forth as of November 15, 2010
information concerning the beneficial ownership of common
stock by all holders of over 5%, by all directors and all
directors and officers of the Company as a group based on
20,048,284 shares outstanding.
Name and Address Number of Percent
Title of Class of Beneficial Owner Shares Owned of
Class
Common Stock Robert Kamon* (3,178,834) 4,633,828 23.11%
No Par Value Tensleep Oil & Production,
Inc. (908,000)
Australian Grazing & Pastoral
Co., Pty. Ltd. (152,550)
International Oil Lease
Service Corp. (394,444)
1304 Avenue L
Cisco, Texas 76437
Common Stock Andre Sakhai** 1,257,503 6.27%
No Par Value 10 East 29th Street, Apt. 12J
New York, New York 10016
Common Stock Kenneth Campbell 410,000 2.05%
No Par Value 107 Triune Bay
Calgary, Alberta T1X 1G4
Canada
Common Stock Howard Siegel 140,715 0.70%
No Par Value P. O. Box 940572
Houston, Texas 77094
Common Stock Jan Soleimani 930,000 4.64%
No Par Value 21 Windsor Drive
New York, NY 11568
Common stock Bernard Lipton 93,334 0.47%
No Par Value 760 Jericho
Westbury, NY 11590
All directors and officers
as a group (6 persons) 7,465,380 37.24%
Common Stock Ely Sakhai 3,523,793 17.58%
No Par Value 10 Windsor Dr.
Old Westbury, NY 11568
*Robert Kamon is President of Tensleep Oil &
Production, Inc., Australian Grazing & Pastoral Co., Pty.
Ltd., and International Oil Lease Service Corp.
**Andre Sakhai and Ely Sakhai are father and son.
Note: The stockholders identified in this table have
sole voting and investment power with respect to the
shares beneficially owned by them. The owners have no
rights to acquire additional shares through options,
warrants, rights, or conversion privileges within the next
sixty days.
Management is not aware of any current arrangements,
which would result in a change of control of the Company.
RATIFICATION OF THE SELECTION OF AUDITORS
Killman, Murrell & Company, P.C. audited the Company =s
financial statements for the years ended December 31,
2006, 2007, 2008 and 2009. The Board of Directors
recommends that the shareholders ratify the selection of
Killman, Murrell & Company, P.C. to audit the accounts for
2010 of the Company and the Board of Directors recommends
that shareholders vote FOR this proposal.
Vote required and recommended by the Board
The affirmative vote of the holders of a majority of
the issued and outstanding shares of Common Stock is
necessary to ratify Killman, Murrell & Company, P.C. as
the Company's auditor for 2010.
The Board of Directors recommends a vote "FOR" approval
of this proposal.
FINANCIAL STATEMENTS
The SEC Form 10-K of the Company for the year ended
December 31, 2009, including audited financial statements,
will be mailed to all shareholders with this Proxy
Statement.
OTHER MATTERS
The Board of Directors knows of no other matters to be
brought before this Annual Meeting. However, if other
matters should come before the meeting, it is the
intention of each person named in the proxy to vote such
proxy in accordance with his judgment on such matters.
STOCKHOLDERS PROPOSALS
Any interested stockholder may submit a proposal
concerning the Company to be considered by the Board of
Directors of the Company for inclusion in the proxy
statement and form of proxy relating to next year =s
Annual Meeting of Stockholders. In order for any proposal
to be so considered by the Board for inclusion in the
proxy statement, all proposals must be in writing in
proper form and received by the Company on or before March
1, 2011. Any stockholder so interested may do so by
submitting such proposal to: Australian-Canadian Oil
Royalties Ltd., Attn: Robert Kamon, P. O. Box 1629, Cisco,
Texas 76437.
PROXY SOLICITATION
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF
DIRECTORS OF THE COMPANY. THE SOLICITATION WILL BE BY
MAIL.
The entire expense of preparing, assembling, printing
and mailing the proxy form and the material used in the
solicitation of proxies will be paid by the Company. The
Company will request banks and brokers to solicit their
customers who beneficially own common stock of the Company
listed in the names of nominees and will reimburse said
banks and brokers for the reasonable out-of-pocket
expenses of such solicitation. In addition to the use of
the mail, solicitation may be made by the employees of the
Company by telephone, e-mail and/or personal interview.
The Company does not expect to pay any compensation to
such persons, other than their regular compensation, for
their services in the solicitation of proxies.
BY ORDER OF THE BOARD OF DIRECTORS
Andre Sakhai
President
Cisco, Texas
November 22, 2010
IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY.
STOCKHOLDERS WHO DO NOT EXPECT TO ATTEND THE MEETING AND
WISH THEIR STOCK TO BE VOTED ARE URGED TO DATE, SIGN AND
MAIL THE ACCOMPANYING PROXY IN THE ENCLOSED SELF-ADDRESSED
ENVELOPE.
PROXY
AUSTRALIAN-CANADIAN OIL ROYALTIES LTD.
(A British Columbia Corporation)
1301 Avenue M
B
P. O. Box 1629
Cisco, Texas 76437-1629
THIS PROXY IS SOLICITED BY THE BOARD OF DIRECTORS OF
AUSTRALIAN-CANADIAN OIL ROYALTIES LTD.
The undersigned hereby appoints Andre Sakhai and Robert
Kamon, or either of them (with full power to act alone and
to designate substitutes), proxies of the undersigned,
with authority to vote and act with respect to all shares
of the common stock of Australian-Canadian Oil Royalties
Ltd. that the undersigned would be entitled to vote if
personally present at the Annual Meeting of Stockholders
to be held on December 15, 2010 at 10:00 a.m. (Central
Standard Time) and at any adjournment thereof, upon the
matters noted below and upon any other matters that may
properly come before the Meeting or any adjournment
thereof. Said proxies are directed to vote as checked
below upon the following matters, and otherwise in their
discretion. An abstain vote will be counted in determining
a quorum, but will not be counted as a vote either for or
against the issues.
(1) To elect as directors the following nominees: Andre
Sakhai, Robert Kamon, Kenneth Campbell, Howard Siegel, Jan
Soleimani and Bernard Lipton
[ ] FOR all the foregoing nominees
[ ] WITHHOLD AUTHORITY to vote for all of the foregoing
nominees
[ ] ABSTAIN
Note: To withhold authority for an individual nominee,
strike a line through that nominee =s
name. Unless authority to vote for all of the foregoing
nominees is withheld, this proxy will be deemed to confer
authority to vote for each nominee whose name is not
struck.
(2) To ratify the selection of Killman, Murrell &
Company, P.C., as the independent auditor for 2010.
VOTE FOR VOTE AGAINST ABSTAIN
[ ] [ ] [ ]
This Proxy, when properly executed, will be voted in
the manner directed herein by the undersigned
stockholder(s). In the absence of specific directions,
this Proxy will be voted for the election of the directors
named and for the ratification of the selection of
independent accountants. If any other business is
transacted at the Meeting, this Proxy will be voted in
accordance with the best judgment of the proxies. The
Board of Directors recommends a vote FOR each of the
listed propositions. This Proxy may be revoked prior to
its exercise.
Note: Please sign exactly as name(s) appear on the
stock certificate. An attorney, executor, administrator,
trustee or guardian or other fiduciary should sign as
such. ALL JOINT OWNERS MUST SIGN.
Dated: _______________________
_______________________________
Signature of Stockholder(s)
_______________________________
Signature of Stockholder(s)
I/We will be attending the meeting. Number attending:
_________. Please respond by December 6th or
call 1-800-290-8342 to make your reservation.
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