Corporate Philosophy

Austin Developments Corp. is committed to building an oil and gas company with a production base of 3,000 boe/d in the near term. This goal will be achieved through:

• Acquiring strategic assets that demonstrate the potential to at least double in production through low-risk exploitation or re-completions.
• Farming-in on attractive drill projects that generate near-term revenue.
• Posting land and drilling internally-generated projects.

Corporate Strategy

A consolidation trend continues in the oil and gas industry, and the number of intermediate companies continues to dwindle as acquirers bid to control their assets. In many cases these acquiring companies divest non-core assets, which still represent lucrative opportunities for small enterprising companies. The profitable operation of these assets is the core business of Austin.

The key to the company's corporate mandate is to conduct business as a low-cost operator by benefiting from hands-on management, while outsourcing most exploration and development expenditures. The company is also committed to maintaining minimum infrastructure. The company's method of operation adheres to the following principles:

• Maintaining focus on specific strategic geographic areas and developing exploitation and exploration strategies


• Using leading-edge technology to evaluate, develop, and operate its properties


• Retaining hands-on management of operations when feasible


• Outsourcing services where possible

Our Directors & Management

• The president of Austin Developments Corp. is Mr. Patrick Power, who has been actively involved as a senior executive of a number of publicly traded natural resource companies for well over a decade. Most recently, he has been presiding over one of Canada's more high-profile diamond exploration juniors, Arctic Star Diamond Corp. (TSX.V-ADD).


• Rounding out Austin's seasoned management team is Mr. Mike Muzylowski, an adept financier, who also has a wealth of experience in the resource sector. He has served as a director of a number of public companies on the Toronto Stock Exchange, American Stock Exchange and Toronto (Venture) Exchange.


• Kevin Kivi, P.Geo., joined Austin as an independent director in February, 2005. Kevin has a strong background in geology, with over 20 years experience working with companies such as Kennecott Canada Exploration Inc., Rio Algom Exploration BP Exploration and Selco. Some of Kevin’s more notable achievements were his involvement with the Diavik diamond mine discovery, and establishing Kennecott’s diamond laboratory in Thunder Bay, Ontario.