Sensor and one of its joint venture partners, Oxy USA Inc. ("Oxy"), entered into a non-exclusive seismic data use license agreement (the "License Agreement") with Twin Bridges Resources LLC ("Twin Bridges") for 14.58 square miles out of 120 square miles of proprietary 3D seismic data. Subject to the terms and conditions of the License Agreement, Sensor granted to Twin Bridges a non-exclusive, non-transferable, paid-up license to use Sensor's seismic data for a term of 25 years. In return, Twin Bridges agreed to pay a gross sum of $116,640.

The Company owns 67.5% of the seismic data being licensed while Oxy owns 32.5%. The Company had engaged American Geophysical Corporation to actively market the proprietary 3D seismic data in Pondera and Teton Counties in Northwestern Montana. The goal of the Company is to license its 3D seismic data, leading to future opportunities for potential joint ventures, partnerships or farm in agreements.