Statesman Resources Ltd. (Statesman) is an oil and gas exploration company. The Company is engaged in the acquisition and exploration of petroleum and natural gas property interests. As of March 31, 2012, the Company�s principal interests are located in the United States. The Company�s property interests include South Buena Vista Prospect, San Joaquin Basin, Russell County and Rush County. Statesman has a 75% working interest (60% net revenue interest) in leases (Bear Leases) that are held by production from the Reichel Gas Field, Rush County, Kansas. Statesman also has a 100% working interest (80% net revenue interest) in oil and gas leases covering approximately 5,700 acres, the majority of which surround and complement the Bear Lease. Subsequent to the fiscal year ended March 31, 2012, Statesman acquired four companies in the British Virgin Islands, which included Statesman Africa Limited, Statesman Resources Limited, Sudan Energy Holdings Limited and Sudan Energy Holdings Limited.