Update 12/03/09
We have just completed a revised valuation report that has been asked for by two of three funding sources that we are currently working with.  This evaluation provides us greater information, and will give us the opportunity to review each well more thoroughly, allowing us to provide a clearer picture for the entire project while better helping our funding sources with there decision making.
We also have made progress over the month on completing the necessary work on our filings and look forward to finishing this work and having them out very soon.


Current Position November 2009

Arete Industries, Inc. is currently following the path it put forth in April 2009.  We are engaged in accomplishing our goals 1. The cash flow purchase of two existing oil and gas companies. 2. The completion of all past and current fillings. 3. Pursuit of other opportunities that meet our strategic plans. 4. Creating value for all of our shareholders.
 
We will give updates when appropriate while following public and company guidelines and policies.


Purchase of Oil and Gas Properties

We have just announced through a press release and an 8-KSB SEC Filing  that the Company signed a definitive agreement to purchase oil and gas properties in Wyoming, Colorado, Kansas, and Montana from DNR Oil & Gas Company and Tindall Operating Company for cash and additional consideration (See Press Releases)

Filings

We also stated that we intend to have all filings complete by the end of June 2009. We have engaged an auditor to complete audits on our 2006, 2007 and 2008 financials. With the intent of getting current staying current and keeping our shareholders informed of past and current financial information. With their completion we will be able to show that we are and have been an operating company since the purchase of our Top Gathering pipeline from PRB. This has been a long time coming and we have worked very hard to make this happen.


We continue to look for and at opportunities that would meet our current business model and benefit our Shareholders.