Credo Petroleum Corporation (Credo) and it’s wholly owned subsidiaries, SECO Energy Corporation (SECO) and United Oil Corporation (United) are independent oil and gas companies engaged in oil and gas exploration, development and production activities in the Mid-Continent and Rocky Mountain areas of the United States. During the fiscal year ended October 31, 2009 (fiscal 2009), the Company’s operations were focused on its two projects drilling in the Mid-Continent and Rocky Mountain areas of the United States and application of its Calliope Gas Recovery System (Calliope). The Company has operating activities in nine states.