Mr. Lucky Janda reports

AAN ENTERS INTO OIL DRILING JOINT VENTURE

AAN Ventures Inc.'s wholly subsidiary, Ona Power Oil & Gas Corp., has entered into a joint venture agreement to drill up to 10 oil and gas wells in the state of Tennessee upon various leases that have been located and have existing wells on them. The leases have been secured by Keblo Energy LLC, the joint venture partner.

A term of the joint venture agreement is that Ona will finance 100 per cent of the drilling and completion costs, and will earn 75-per-cent net revenue interest until it has recovered and paid out all such costs. Once Ona has been paid out, as aforesaid, it will receive 47-per-cent net revenue interest.

We seek Safe Harbor.