Porto Energy Corp. is an international oil and gas company engaged in the exploration of crude oil and natural gas in Portugal, including the appraisal of a gas discovery. Through its wholly owned subsidiary, Mohave Oil And Gas Corporation (a Texas corporation with branch offices in Portugal), the Company holds 100% working interests in seven concessions in Portugal’s Lusitanian Basin totaling approximately 1.3 million net contiguous acres. Through its exploration efforts to date, the Company has identified seven major exploration trends and defined over 45 prospects and leads over its concessions including conventional and unconventional oil and gas resource targets. Through modern exploration and development techniques never before deployed in Portugal, an experienced management team, and established oil and gas infrastructure, Porto Energy Corp. is poised to become an oil and gas producing company in the European Union.