Goldnev’s growth and operational strategy for 2012 is to continue to exploit and develop its conventional oil and gas prospects at Turner Valley and in particular focus on continuing to develop its large oil shale resource project in Pasquia Hills, Saskatchewan.

Management believes that global energy demand will continue to grow and that the fundamentals for the unconventional oil shale and oil sands industries will remain strong for the foreseeable future. Oil shale is one of the world’s most abundant energy sources and significant investments in oil shale projects are being made around the world by both major petroleum producers and the investment community. Globally there are significant oil shale production operations in Estonia, Brazil and China and over 20 major projects are underway for operations in the USA, Jordan, Morocco and Australia which indicates the growing importance of this resource in meeting global energy demand.

The Company’s ability to execute on its strategy has been significantly impacted by the issuance on August 15, 2011 by the TSX Venture Exchange of a trading halt and more recently on November 21, 2011, the issuance of a trading suspension pending compliance with Exchange requirements including the receipt, review and approval of share issuances by the Company.

The Company is pursuing several options to raise the capital required to complete the pre-feasibility study and pay off a substantial amount of its outstanding debt including its secured debt holders. These options include the possible sale of its Turner Valley oil and gas assets and recovery and repayment of approximately $850,000 owed to the Company from its terminated Pincher Creek property acquisition.

The Company is facing several operational challenges that management is diligently working to resolve in order to generate positive shareholder growth and value in 2012, these include:

a resumption of trading in the Company’s securities;

elimination and/or significantly reducing the amount of the Company’s debts,

realizing and/or monetizing on the value of its Turner Valley assets by either getting the property back onto production and/or possibly selling the all or some of its interests in the assets in order to reduce or eliminate the Company’s debts;

Recovery and/or monetize its past investment in the Pincher Creek oil and gas assets;

completion of the Pasquia Hills oil shale pre-feasibility.

Management is of the opinion that the business outlook for the Company in 2012 will significantly inprove and that these business and operational challenges will be overcome in the near future. The Company will continue to focus on the development of its unconventional oil shale project and is encouraged that there has been a significant increase in recent months in the business outlook, market awareness and investments made by several oil and gas companies in oil shale projects in North America. The Company believes that these positive developments will assist in generating market awareness and industry participation for the development of its Pasquia Hills oil shale project which is expected to have a positive impact on the Company and shareholder value