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On October 2, 2007, Cygnus Oil & Gas Corp. went out of business as per its Chapter 11 liquidation filing under bankruptcy. Cygnus Oil and Gas Corporation, a development stage energy company, engages in the exploration, development and production of oil and gas in the United States and New Zealand. It has interests in 13 oil and gas projects. The company, formerly known as Touchstone Resources USA, Inc., was founded in 2001 and is based in Houston, Texas.