Holiday Island Holdings, Inc. accepted a Letter of Intent to enter into a Joint Venture wherein it will receive $2.5 million from a highly experienced international oil company - Supeca Oil - to develop the Drummond Oil Field located in West Texas. Projections on this field, as reported by Benchmark Petroleum Partners, indicated a significant increase in gross revenue of oil production over its life. Mr. Asencio and his team are looking forward to this JV, which is expected to be the first of many with Supeca Oil.

EP3OIL and Supeca Oil will perform due diligence over the next 30 days to solidify their Joint Venture.