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29/11/11 – Notice of AGM 2011

29/11/11 – Final Annual Report

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30/06/2010 – Kratos Energy Annual Report 2010

Kratos Energy has entered into various agreements with US-based South Bay Resources LLC (“South Bay”) to farm-in to a range of advanced oil and gas prospects located in Alberta, Canada.

It has initially committed to drilling one well at each of the Bull Trend and Radway Prospects. The Company will initially pay 33% of drilling and completion costs to earn a 25% interest in each of the two wells.  Thereafter, assuming success, the Company will pay 25% of drilling and completion costs to earn a 25% interest in future development wells

The Company has also secured an Option with South Bay to participate in the drilling of an additional well at the Bull Trend Prospect. Kratos would pay 25% of drilling andcompletion costs to earn a 25% interest in this well. Thereafter, assuming success, the Company would continue to pay 25% in future development wells.

Kratos has also secured an Option with South Bay to participate in the drilling of an initial well at the Nisku “7″ Pack Prospect area. The Company would pay 33% of drilling and completion costs to earn a 25% interest in this well. The Company can then elect to participate in the remaining 6 Nisku Prospects by contributing 25% of costs to earn 25%.

The Bull Trend Prospect is located in a proven hydrocarbon province approximately 130kms NE of Calgary in Alberta, Canada. The prospect has been identified by South Bay Resources after processing 3D seismic surveys previously shot by EnCana Corporation.

The Bull Trend prospect covers an area of approximately 2,000 acres and three individual play types have been identified as follows:

1)  two deep ‘Leduc Reef’ features which have been estimated to contain a mean recoverable resource of 10.4 million barrels of oil;

2) two shallower ‘Nisku Reef’ features draped over the Leduc, which have an aggregate mean recoverable resource of 13.1 million barrels of oil; and

3)  a shallow Cretaceous gas feature overlying the Leduc and Nisku Reefs which has been estimated to contain a mean recoverable resource of 1.5BCF of gas.

Kratos’ share of dry hole costs to drill the targets is approximately $210k with a target depth of approximately 2,200m .

The Big Bend well in the Bull Trend was drilled in May 2010 and subsequently plugged and abandoned. The re-processed data from this well has confirmed the  viability of  the remaining prospects in the Bull trend.

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Annual Financial Report 2009