2008-10-20-2008-10-16

To buy 26,000 acres in Maverick oil basin in SW TX.

Sunset Island Group, Sarasota, Fla., (Pink Sheets: SIGO) plans to acquire several oil and gas leases in Texas from an undisclosed seller for an undisclosed price. The leases cover approximately 26,000 acres in the Maverick oil basin in southwestern Texas. Sunset chief executive Arnold Levine says, "We feel very pleased to be able to acquire a property in such a rich oil and gas producing area. We are finishing up our due diligence and believe that we will be able to finalize funding and close on this acquisition shortly."