President Energy PLC, formerly President Petroleum Company PLC, is engaged in are the exploration for and the evaluation and production of oil and gas. Pursuant to the acquisition in East White Lake, the Company drilled two development wells. During the year ended December 31, 2011, the Company produced 25.1 million cubic feet of natural gas; 15,625 barrels of oil and 19.8 thousand barrels of oil equivalent of total hydrocarbons in East Lake Verret, and 93.2 million cubic feet of natural gas; 22,878 barrels of oil and 38.4 thousand barrels of oil equivalent of total hydrocarbons. The Company�s subsidiaries includes President Petroleum (UK) Limited, President Petroleum Company Holdings BV, President Petroleum Holding UK Ltd, Froschouw Holding AG, Sibla Invest AG, President Petroleum (USA) Inc. President Petroleum Pty Limited and President Petroleum SA. On July 1, 2011 the Company acquired a 50% of interest in the CNO-8 Puesto Guardian.