ProspEx Resources Ltd. is a Canadian-based company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas. It owns rights to 122,000 net undeveloped acres of land located within the gas saturated deep basin fairway along the western margin of Alberta. It has three core areas: West Central Alberta, the Deep Basin, and Southern Alberta. It owns 80,000 net acres of undeveloped lands in West Central Alberta, and operates in four areas, including Harmattan, Ricinus, Willesden Green and Garrington. THE DEEP BASIN offers multiple productive horizons in a pervasively gas saturated environment. On February 1, 2009, the Company disposed of certain non core properties in the Wapiti area of Alberta. On January 22, 2008, the Company acquired certain assets in the Ricinus area of Alberta, which included 16 (11.9 net) wells with production of approximately 360 barrels of oil equivalent per day.