Terax Energy Inc., formerly known as Royal Phoenix, incorporated in October 2000, is an independent, managed risk, oil and gas exploration and development company. The Company is an exploration stage company. Its properties are located in the Fort Worth Basin in the United States. Terax Energy Inc.'s principal properties consist of two blocks of oil and gas leases, one covering approximately 11,200 gross acres in the aggregate in close proximity to each other in Erath County, Texas, and one covering a block of approximately 17,200 gross acres in the aggregate in close proximity located in Comanche County, Texas, both of which permit the Company to drill and develop the Barnett Shale formation underlying the lease acreage. On May 31, 2005, the Company entered into a share purchase agreement with Holywell Technological Investments Ltd. and First Finance Limited, pursuant to which the Company acquired Erath Energy Inc. (EEI). EEI's assets include approximately 30 oil and gas leasehold interests consisting of approximately 10,600 gross acres, located in Erath County, Texas. Terax Energy Inc. is focused on exploring the gas reserves located in the Barrnett Shale formations of the Fort Worth Basin. The Company owns 100% working interest in the oil and gas leases in the Erath County and the Comanche County. It also has oil and gas leasehold interests in the Hamilton Counties in Texas. In 2006, the Company began the development of its oil and gas leases in Erath County Texas, and drilled two wells to total depth and began installation of its gathering system.

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