Hillcrest Petroleum Ltd., formerly Hillcrest Resources Ltd., is in the business of acquiring, exploring and developing exploration interests in oil and gas projects in the United States. The Company has interests in the following significant oil and gas properties: Hartburg Project, Texas, and Gulf of Mexico Properties. The Hartburg Project is located in Newton County, Texas, which includes leases comprising 288 gross acres of developed lands and 762 gross acres of undeveloped lands. The Company, through its wholly owned subsidiary, Hillcrest GOM Inc., owns a portfolio of non-operated oil and gas properties in the Gulf of Mexico, within the shallow water shelf region offshore Louisiana. These comprise 10 leases containing five producing fields.