Spring 2008

International Oil Tools, LLC has contracted with two quality Chinese manufacturers to form International Oil Tools China, LTD. This Joint Venture has purchased approximately 50 acres of property in the Economic Development Area near SICHUAN GUANGHAN China. IOT China LTD will start the construction of a new API and ISO certified factory in the second quarter of 2008 and be in production by the fourth quarter of 2008. This JV and new factory is to keep up with the world demand of oil and gas related equipment. All equipment at the new factory will meet or exceed US QA/QC standards.

December 1st 2007

Mr. Paul Wang V.P. Engeeniring and Technology and Matt O’Rosky V.P. Operations (IOT) sign documents to purchase 50 acres of land in the Economic Development Area for JV to build modern manufacturing facility for oil and gas related equipment.