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Excalibur Exploration, Inc. was formed in 1985 by a core group of young
professionals at a time of economic upheavels in the oil and gas industry. Price
collapses and subsequent surpluses of oil and natural gas forced many companies
into bankruptcies or mergers. The Principals of Excalibur Exploration, Inc.
recognized that in the midst of this unsettled time, opportunites would arise for a
company unburdened by debt, striving to work hard, and willing to put all of its
profits back into exploration and production. This theory has proven correct, and
Excalibur Exploration, Inc. has enjoyed steady growth and success.