EnerNorth Industries Inc. (EnerNorth) is principally engaged in the investment in, exploration and development and production of oil and gas. The Company holds oil and gas interests located in the Canadian Provinces of Alberta, Saskatchewan, British Columbia and Ontario, directly and indirectly through its wholly owned subsidiary, Alberta subsidiary Great Northern Oil & Gas Inc. (Great Northern) or through other joint venture partners. Through its wholly owned subsidiary EPS Karnataka Power Corp., a company incorporated in Ontario (EPS Karnataka), the Company owns a 45% interest in Euro India Power Canara Limited (EIPCL), which has a power purchase agreement with the Karnataka Power Transmission Corporation Limited (KPTCL), formerly the Karnataka Electricity Board, of the State of Karnataka, India. In March 2007, the Company filed an assignment in Bankruptcy under the Bankruptcy and Insolvency Act (Canada).