PREMIER ENERGY CORP.

Premier Energy's quarterly report for the period ended September 30, 2010 - filed just after the Karbon divestment was announced - showed a net loss of $2,367,806 for the quarter ($3,320,748 for the nine months), a sharp jump consistent with writing down the Russian assets it was about to give away.

quarterly activities report

Premier Energy unwound its entire Russian oil venture: it gave up Karbon, CJSC back to Auxerre Trading Ltd., which in turn surrendered its 107,406,000 shares (about 51% of Premier) for cancellation and agreed to assume and indemnify Premier against all of Karbon's existing liabilities - closing the loop on the reverse merger from February 2009 and leaving Premier once again without an operating business.

asset acquisition disposition

Premier Energy agreed to buy 100% of Speckrit LLC, another Russian limited liability company, from Rossgaz LLC for $65,000,000 - a huge sum relative to the company's size - with its own filing admitting there was no guarantee it could raise the money; the deal does not appear again in the company's subsequent filings and appears to have lapsed.

material agreement

Premier Energy disclosed that the PCAOB had revoked former auditor Moore & Associates Chartered's registration in August 2009 for real audit-quality violations - PCAOB rule and auditing-standard breaches and non-cooperation with a Board investigation - retroactively casting doubt on the reliability of Premier's own pre-2009 audited financials.

auditor change

Premier Energy completed its pivot into real oil-and-gas operations: a reverse merger acquiring 51% of Karbon, CJSC - a Russian producer at the North-Kopanskoye Oilfield in the Volga-Urals basin with an estimated 30.9 million barrels of reserves and an existing export offtake contract with global trader Trafigura Group - from BVI intermediary Auxerre Trading Ltd. in exchange for 107,406,000 shares (about 51% of the combined company); Auxerre thereby became Premier's controlling shareholder, and Michael Yuster's ZRV-linked shares were cancelled as part of the same transaction.

business combination

Premier Energy issued a press release confirming its new strategic focus on oil and gas exploration and production under incoming CEO Anton Prodanovic, following the discontinuation of its former (nursing-products) business.

other

Premier Energy hired Dr. Anton Prodanovic - a veteran of Mobil Corporation and Exxon Production Research with decades of oil-and-gas project experience - as CEO and director, the clearest signal yet that the company intended to become a real energy operator rather than just carry the name.

director officer appointment

New owner Michael Yuster renamed the company from Premier Nursing Products Corp. to Premier Energy Corp., signaling a pivot away from its original nursing-products plan well before any actual energy business was acquired.

bylaws amendment

Founder Sheldon Rose sold 162,000,000 shares (about 77% of the company) to ZRV Consulting Inc. - owned by Michael Yuster - for $300,000 cash, resigning all his positions as Yuster took over as President, CEO and director; the company's original nursing-products plan was effectively abandoned at this point.

director officer appointment

Premier Nursing Products Corp., a newly incorporated Florida shell planning to manufacture and sell breastfeeding/nursing products (nursing pads, pillows, privacy shawls), filed to register 3,000,000 shares at $0.01 each (up to $30,000) for its IPO under sole officer/director Sheldon R. Rose.

securities registration