Eternal Energy Corp. (Eternal Energy) is engaged in the acquisition, exploration and development of natural resource properties. The Company is engaged in the exploration for petroleum and natural gas in the State of Nevada, the North Sea and the Pebble Beach Project through the acquisition of contractual rights for oil and gas property leases and the participation in the drilling of exploratory wells. At December 31, 2007, the Company has entered into participation agreements related to oil and gas exploration projects in the Big Sand Spring Valley Prospect and the Cherry Creek Project, both located in Nye County, Nevada. In April 2007, the Company sold its stock in Pebble to Heartland Resources Inc., a petroleum and natural gas exploration company.(Source: 10KSB)