Standard Energy Corporation is engaged in the acquisition of unproven oil and gas leaseholds with the intent of reselling or drilling, and developing such leaseholds with third-parties, acquiring primarily oil and gas leaseholds, through the Bureau of Land Management (BLM) leasing program. The Company also obtains leases through purchases in bidding programs offered by various state agencies, principally the states of Utah and Wyoming. At March 31, 2009, the Company’s oil and gas leasehold inventory was at approximately 15,000 net acres. The Company is engaged in two businesses: oil and gas lease activities, including producing and non-producing lease and royalty holdings, and the commercial development of its biofuel technologies.