lucky, mydog
13 years ago
nodummy Friday, October 07, 2011 3:28:46 PM
Re: None Post # of 16162
SEC settles with Wall Street Capital
2011-10-07 14:03 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-FDEI) Fidelis Energy Inc
Also Street Wire (U-PGNE) Primegen Energy Corp
Also Street Wire (U-SAEI) Supatcha Resources Inc
by Mike Caswell
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:*SEC-1888223&symbol=*SEC&news_region=C
The U.S. Securities and Exchange Commission has reached a $300,000 settlement with the principals of Wall Street Capital Funding LLC, a Florida touting firm that aided several questionable promotions. (All figures are in U.S. dollars.) The stocks named in the case included three with links to former Vancouver promoter William Scott Marshall. In proposed judgments filed in Miami on Thursday, Oct. 6, the firm and its principals agreed to the fines and to orders barring them from promoting stocks with market caps under $50-million.
The SEC claimed that Wall Street Capital regularly issued overly optimistic stock opinions for many companies, even when it knew the underlying promotions were dubious. In one case, it supported a "pure scam," the regulator said. The stocks that it promoted included PrimeGen Energy Corp. and Fidelis Energy Inc., which had Mr. Marshall as an officer in 2007. Another, Supatcha Resources Inc., listed him as a director in December, 2010. The SEC did not name Mr. Marshall in the case and it did not accuse him of any wrongdoing.
The settlements are contained in separate consent judgments against Wall Street Capital, its two owners and an employee. The two owners, Philip Cardwell and Roy Campbell, each agreed to pay $125,000 in disgorgement and civil penalties, while the employee, Aaron Hume, agreed to pay $50,000 in disgorgement. None of the men admitted to any wrongdoing in settling the case. The judge still must approve the settlements.
SEC's complaint
The case began on Feb. 7, 2011, when the SEC filed a civil complaint in the Southern District of Florida against Wall Street Capital and the three men. The suit claimed that Wall Street Capital, which did business as Wall Street News Alerts, knowingly aided in numerous penny stock penny stock scams over its 10-year existence.
One of the examples listed in the complaint was PrimeGen Energy, a New Jersey company that purportedly had oil and gas properties in Russia. The company claimed to have brought 12 wells into production and to have generated millions of dollars in revenue. According to the SEC, the company was a complete scam. Its corporate headquarters was a rented mail box in a UPS store and its phone line was unattended. Moreover, its website was a copy of another company's site.
Despite this, Wall Street Capital issued as many as 50 misleading investment opinions for the company, the SEC claimed. In a July 9, 2009, opinion it listed PrimeGen as a "stock to watch" along with three New York Stock Exchange listings, including Exxon Mobile Corp. Touting the company in this way created an "impression of substance," the SEC said.
The opinions also went out as spam e-mails, according to the complaint. The messages carried the typical headers found in such e-mails, such as "Revenues for PGNE to soar with newest 42 Well project" and "When PGNE explodes will you be there to enjoy the ride?" Wall Street Capital purchased mass e-mail lists from third parties, which contained as many as 52 million addresses, the SEC claimed.
The touting took place between April, 2009, and January, 2010. During that time, the stock had a low of 1.4 cents and a high of 38 cents.
The SEC said that the touting continued even as Wall Street Capital became aware that people were complaining about the accuracy of the news. Among other things, the firm received an e-mail on Sept. 17, 2009, which stated that there are "serious concerns that the above Co. is acting fraudulently." This did nothing to deter Wall Street Capital and its principals who, according to the SEC, would "close their eyes and publish."
While the complaint mostly described the PrimeGen promotion, it said that Wall Street Capital had disseminated misinformation for hundreds of penny stocks during its 10-year existence. Typically, the beneficiaries of these promotions were insiders of the companies, who dumped stock for a profit, the SEC claimed.
The SEC sought penny stock bans, disgorgement of ill-gotten gains and appropriate civil penalties.
Wall Street Capital's answer
Wall Street Capital and the other defendants denied any wrongdoing. In a joint answer filed on Feb. 28, 2011, they issued bare denials of the allegations, and sought a trial by jury.
While the answer contained few details, it did state that Wall Street Capital did not have a duty to investigate the stocks it promoted. As the defendants saw it, a reasonable investor would not have considered such an investigation important in making an investment decision. They attributed any losses that investors suffered to external market factors. The men also argued that if investors suffered any losses, the SEC failed to mitigate those losses by allowing the stocks to continue trading.
William Scott Marshall
While Mr. Marshall was not a defendant in the SEC case, he has was under investigation for the Silver Star Energy Inc. promotion. In 2004, the RCMP obtained a search warrant for the company's Vancouver office, claiming that he and five others had run it as a pump-and-dump. The search made many headlines but, ultimately, did not lead to any charges.
Mr. Marshall left Vancouver in 2007, after somebody shot at his Shaughnessy home.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:*SEC-1888223&symbol=*SEC&news_region=C
Renee
13 years ago
Related to PGNE :
SEC settles with Wall Street Capital
2011-08-15 13:43 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
by Mike Caswell
The U.S. Securities and Exchange Commission has reached a settlement with Wall Street Capital Funding LLC, a Florida tout service facing civil fraud charges for promoting questionable pink sheets companies. The SEC claimed that the firm issued overly optimistic recommendations for four companies in 2009 and 2010. They included a purported oil and gas explorer called PrimeGen Energy Corp., which had former Vancouver promoter William Scott Marshall as an officer. (The SEC did not name Mr. Marshall as a defendant or accuse him of any wrongdoing.)
According to the SEC, Wall Street Capital told investors that PrimeGen was a "stock to watch," despite the company being a "pure scam." Its corporate headquarters was a rented mail box in a UPS store, its phone line was unattended and its website was a copy of another company's site. The stock had a high of 38 cents during the touting, and was last at one cent. (All figures are in U.S. dollars.)
Details of the settlement, which covers Wall Street Capital and three people associated with the firm, are not yet available, as the SEC commissioners must first approve it. The SEC had sought orders banning the defendants from participating in penny stock offerings, as well as appropriate civil penalties. As in most settlements, the defendants will likely not admit to any wrongdoing.
In a joint motion filed on Thursday, Aug. 11, both sides asked that the judge stay pretrial proceedings while the SEC reviews the deal.
SEC's complaint
The case began on Feb. 7, 2011, when the SEC filed a civil complaint against Wall Street Capital and three others. The defendants included the firm's two owners, Beverly Hills resident Philip Cardwell, 47, and Miami resident Roy Campbell, 33. Also listed was one of the firm's employees, Aaron Hume, 32.
The SEC claimed that Wall Street Capital knowingly aided several penny stock scams during its 10-year existence. Besides PrimeGen, the SEC names three examples: Supatcha Resources Inc., Fidelis Energy Inc. and Caliber Energy Inc. (Of those four companies, three have links to Mr. Marshall. He was an officer of PrimeGen and Fidelis in 2007, while Supatcha listed him as a director in December, 2010.)Wall Street's touting of PrimeGen, as described in the complaint, occurred between April, 2009, and January, 2010. The firm issued as many as 50 misleading investment opinions, which it disseminated through newswires, the SEC claimed. A July 9, 2009, opinion listed it as a "stock to watch" along with three New York Stock Exchange listings, including Exxon Mobile Corp. The opinions typically repeated phony claims from the company's news releases, mostly purported drilling success in Russia, the SEC said.
Wall Street Capital also touted the company via spam, sending e-mails under headings such as "Revenues for PGNE to soar with newest 42 Well project" and "When PGNE explodes will you be there to enjoy the ride?" Wall Street Capital bought e-mail lists from third parties, which contained as many as 52 million addresses, the complaint stated. For its efforts, Wall Street Capital received five million shares of PrimeGen.
During the promotion, Wall Street Capital received more than one notification that PrimeGen was a questionable stock, the SEC said. It received an e-mail on Sept. 17, 2009, which stated that there are "serious concerns that the above Co. is acting fraudulently." Mr. Hume also viewed an Internet message board which stated that "PGNE is nothing more than a scam," the complaint stated.
Wall Street Capital's answer
Wall Street Capital, for its part, said it did nothing wrong. In a joint answer filed on Feb. 28, 2011, all of the defendants generally denied any wrongdoing, without providing many specifics. Wall Street Capital did admit that it received and sold shares of PrimeGen during the promotion, but said it had no duty to investigate the companies it promoted.
The defence also argued that there was no evidence that any of the stocks that Wall Street Capital promoted were fraudulent. If investors did suffer any losses, they were caused by market forces.
William Scott Marshall
While Mr. Marshall faces no charges from the scheme, he has been under investigation in Vancouver before. In 2004, the RCMP raided the office of Silver Star Energy Inc., an OTC Bulletin Board company. According to the search warrant, Mr. Marshall and five others ran the company as a pump-and-dump. The search made many headlines, but it did not lead to any charges.
Mr. Marshall left Vancouver in 2007, after somebody fired six shots at his Shaughnessy home.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:*SEC-1871786&symbol=*SEC&news_region=C
poopscooper
14 years ago
Potential investors also received opinions from Wall Street Capital as spam e-mails. These had headings such as "Revenues for PGNE to soar with newest 42 Well project" or "When PGNE explodes will you be there to enjoy the ride?" According to the complaint, Wall Street Capital purchased mass e-mail lists from third parties, which contained as many as 52 million addresses.
The SEC says that Wall Street Capital had strong incentives to boost the prices of the stocks it promoted. It typically received compensation in shares, which it sold into the promotions. With PrimeGen, it received five million shares, the complaint states.
The complaint also cites Wall Street Capital for creating the false appearance that its reports were independent. The reports stated that they were the "sole opinion" of Wall Street Capital, and that the companies had not approved the statements or their timing. According to the SEC, this was misleading, because the companies frequently read the text of the opinions and timed news releases around them.
With the PrimeGen reports, Wall Street Capital was aware that people were complaining about the accuracy of the news, the SEC says. Among other things, the firm received an e-mail on Sept. 17, 2009, which stated that there are "serious concerns that the above Co. is acting fraudulently." According to the complaint, Wall Street Capital ignored such concerns. "Even when they have ample warning signs that a scam is afoot, Defendants always do the same thing: they close their eyes and publish."
A few days later, Mr. Hume reviewed a post on an Internet message board which stated that "PGNE is nothing more than a scam," the complaint states. The SEC says Mr. Hume sent a link of the post to a contact in Canada, and told him that "things like this are posted everywhere ... some of the reasons why little trading lately."
Although the complaint mostly describes the PrimeGen promotion, it says that Wall Street Capital has been in business for 10 years and has disseminated misinformation for hundreds of penny stocks. Typically those who benefit have been insiders of the companies, who have been dumping their shares for a profit, the SEC says.
The SEC is asking for penny stock bans, disgorgement of ill-gotten gains and appropriate civil penalties.
William Scott Marshall
While Mr. Marshall is not a defendant in the SEC case, he has faced pump-and-dump allegations in the past. In 2004, the RCMP's Integrated Market Enforcement Team raided the offices of Vancouver-based OTC Bulletin Board listing Silver Star Energy Inc. The search warrant claimed that five men, including Mr. Marshall, had run the company as a pump-and-dump. The search made many headlines, but ultimately it did not lead to any charges.
Mr. Marshall left town in 2007, after somebody fired six gun shots into his Shaughnessy home.
nodummy
14 years ago
PrimeGen Energy Corp (PGNE) plagiarized press releases
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Just like with the other companies involved in this ring of companies (SAEI, FDEI, SRGE, and CLBN) PrimeGen Energy Corp (PGNE) plagiarized it's management teams bios
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58117977
and plagiarized many of it's press releases including reusing a press releases that was previously used by Southridge Enterprises Inc.
Interesting fact PrimeGen Energy Corp (PGNE) shared the same company address as Southridge Enterprises (SRGE)
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EXAMPLE #1
Nov 23, 2009 16:54 ET
http://www.marketwire.com/press-release/PrimeGen-Announces-Stock-Repurchase-Plan-for-Up-to-10-Million-1177114.htm
PrimeGen Announces Stock Repurchase Plan for Up to $10 Million
BRIDGEWATER, NJ--(Marketwire - November 23, 2009) - PrimeGen Energy Corp. (PINKSHEETS: PGNE) ("PrimeGen" or the "Company") today announced that its Board of Directors has approved a stock repurchase plan. The repurchase of up to $10,000,000 of the Company's common stock was authorized.
Robert Charlton, the Company's President, said, "We are very pleased to announce this repurchase program at a time when we believe our stock is undervalued and expect a benefit to shareholders with increased future earnings per share by reducing the number of shares outstanding. This program reflects the Board of Directors' continued confidence in the Company and commitment to enhance shareholder value. Our shareholders have been and continue to be our most important asset and rewarding them is a high priority.
"We have been astounded by the sharp decline in our share price over the past several months. Nevertheless, we believe PrimeGen's share price has become significantly undervalued. That view is based on our assessment of the oil & gas market over the next few years. Accordingly, we believe repurchasing shares at these prices represents an exceptional investment opportunity."
Acquisitions of stock under the repurchase plan will be made from time to time as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. Shares may be purchased in the open market, including through block purchases. PrimeGen will not repurchase any shares from directors, officers or other affiliates of PrimeGen. Purchases will be funded by the revenue from the Timan-Pechora Project. Plan will continue as long as periodic management reviews it to be fiscally feasible and may be discontinued at any time.
--------------------------------
Nov 5, 2007 Southridge Enterprises press release:
http://www.einpresswire.com/article/9714-southridge-announces-stock-repurchase-plan-for-up-to-5-million
Southridge Announces Stock Repurchase Plan for up to $5 Million
Share |
DALLAS--Southridge Enterprises, Inc. (OTCBB:SORD) (the "Company") today announced that its Board of Directors has approved a stock repurchase plan. The repurchase of up to $5,000,000 of the Company's common stock was authorized.
Commenting, Alex Smid, the Company's President said, "We are very pleased to announce this repurchase program and believe it benefits shareholders at a time when we believe the stock is undervalued and increasing future earnings per share by reducing the number of shares outstanding. This program reflects the Board of Directors' continued confidence in the Company and commitment to enhance shareholder value. Our shareholders have and continue to be our most important asset and rewarding them is a high priority.
"We have been astounded by the sharp decline in our share price over the past year. The entire ethanol sector has traded down during the period. Nevertheless, we believe Southridge's share price has become significantly undervalued. That view is based on our assessment of the ethanol market over the next few years and its foreseeable recovery as ethanol margins return and supply & demand get back in balance. Accordingly, we believe repurchasing shares at these prices represents an exceptional investment opportunity."
Acquisitions of stock under the repurchase plan will be made from time to time as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. Purchases will be funded by the company taking on equity or debt financing. Plan will continue as long as periodic management reviews it to be fiscally feasible and may be discontinued at any time.
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EXAMPLE #2
Nov 03, 2009 16:05 ET
http://www.marketwire.com/press-release/PrimeGen-Announces-Filing-Its-Disclosure-Statement-Pink-Sheets-OTC-Disclosure-News-Service-1172724.htm
PrimeGen Announces the Filing of Its Disclosure Statement to the Pink Sheets OTC Disclosure and News Service
BRIDGEWATER, NJ--(Marketwire - November 3, 2009) - PrimeGen Energy Corp. (PINKSHEETS: PGNE) ("PrimeGen" or the "Company") today announced the filing of its Initial Company Information and Disclosure Statement with the Pink Sheets OTC Disclosure and News Service as part of the reporting of its quarterly and annual financial information at www.pinksheets.com.
PrimeGen has submitted its annual and quarterly reports through the service and is fully up to date on its financial filings. With the Initial Company Information and Disclosure Statement posted, the company also posted a required attorney opinion letter to meet all the requirements necessary to be placed in the "Current Information" classification. The Current Information designation falls in the "Transparent" category as defined by the Pink Sheets. Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market.
The Initial Company Information and Disclosure Statement includes details of the company's history, its current share structure, financial information, and management's plan of operation.
"While this filing is just part of the process of achieving 'Current Information' status, it contains information that we believe is of interest to our shareholders," Robert Charlton, CEO of PrimeGen Energy Corp.
-------------------------------
March 31, 2009 S3 Investment press release:
http://newsblaze.com/story/2009033106485500004.mwir/topstory.html
S3 Investment Company Announces Filing With OTC Disclosure Service
S3 Investment Company, Inc. (PINKSHEETS: SIVC) today announced the filing of its Initial Company Information and Disclosure Statement with the Pink Sheets OTC Disclosure and News Service as part of the reporting of its quarterly and annual financial information at www.pinksheets.com.
S3 has submitted its annual and quarterly reports through the service and is fully up to date on its financial filings. With the Initial Company Information and Disclosure Statement posted, the company is preparing to submit a signed attorney letter agreement and post a required attorney opinion letter to meet all the requirements necessary to be placed in the "Current Information" classification. The Current Information designation falls in the "Transparent" category as defined by the Pink Sheets. Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market.
The Initial Company Information and Disclosure Statement includes details of the company's history, its current share structure, financial information, and management's plan of operation. An exhibit to the statement provides information regarding S3's wholly owned Redwood Capital subsidiary, including its China merchant banking credentials, successfully completed China deals by Redwood and its team, and professional affiliations with top leading legal and auditing firms.
"While this filing is just part of the process of achieving 'Current Information' status, it contains information that we believe is of interest to our shareholders," Jim Bickel, CEO of S3 Investments, Inc.
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EXAMPLE #3
Nov 04, 2009 07:00 ET
http://www.marketwire.com/press-release/PrimeGen-Awarded-Layevozhskoye-License-in-Russia-1172728.htm
PrimeGen Awarded Layevozhskoye License in Russia
BRIDGEWATER, NJ--(Marketwire - November 4, 2009) - PrimeGen Energy Corp. (PINKSHEETS: PGNE) ("PrimeGen" or the "Company") announced today that its wholly owned Russian subsidiary OOO Verkhne Michayu Group ("Verkhne") has been awarded the Layevozhskoye oil and gas exploration license in the Baltic Basin in Western Russia.
The vast majority of the area of the Baltic basin is under license or under application by numerous domestic and international companies. This award therefore gives PrimeGen access to a highly desirable region, during a period of considerable competition. The concession totaling 2065.32 km2 is located in the Baltic Basin western Russia including portions of license blocks 36, 45, 46, 73 and 74.
The License is valid for up to 10 years and covers a work program which includes geological studies, seismic acquisition and a one well drilling obligation. If a discovery is made the term extends to 25 years with an additional 25 years, if required.
The primary reason for applying for this license is the high potential of the Paleozoic shales that could lead to a commercial shale gas development similar to the Barnett Shale in the United States. In addition, PrimeGen believes that while testing the shale gas potential of the area there are conventional oil targets above and below the shale intervals further reducing the risk of exploration.
Robert Charlton, CEO of PrimeGen commented, "We are excited to expand our portfolio in Russia into the underexplored Baltic Basin. There is a potentially significant unconventional gas play in the Paleozoic shales that we believe will unlock an overlooked high potential play in the wider region. We also believe there is significant potential that has been overlooked in several conventional targets on the license."
In the initial exploration phase, an environmental study is planned to be carried out. Taking account of 2D material already available, a 3D seismic test is then to be conducted across an area 500 square kilometers in size. In addition, an exploration well is to be drilled once the seismic testing has been completed.
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July 2, 2009 San Leon Press Release:
http://www.scandoil.com/moxie-bm2/news/san-leon-bags-braniewo-license-onshore-poland.shtml
San Leon bags Braniewo license onshore Poland
Published Jul 2, 2009
San Leon's wholly owned Polish subsidiary Oculis Investments Sp. z o.o. (Oculis) has been awarded the Braniewo oil and gas exploration license in the Baltic Basin onshore northern Poland.
The vast majority of the onshore area of the Baltic basin is under license or under application by numerous domestic and international players. This award therefore gives San Leon access to a highly desirable region, during a period of considerable competition.
The concession totaling 1042.69 km2 is located in the Baltic Basin onshore northern Poland including portions of license blocks 52, 72, 73, 92 and 93.
The License is valid for up to 5 years and covers a work program which includes geological studies, seismic acquisition and a one well drilling obligation. If a discovery is made the term extends to 30 years with an additional 30 years, if required.
The primary reason for applying for this licence is the high potential of the Paleozoic shales that could lead to a commercial shale gas development akin to the Barnett Shale in the USA. In addition, San Leon believes that while testing the shale gas potential of the area there are conventional oil targets above and below the shale intervals further reducing the risk of exploration.
Philip Thompson, CEO of San Leon said, "We are excited to expand our portfolio in Poland into the underexplored Baltic Basin. There is a potentially significant unconventional gas play in the Palaeozoic shales that we believe will unlock an overlooked high potential play in the wider region. We also believe there is significant potential that has been overlooked in several conventional targets on the license."
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EXAMPLE #4
Nov 09, 2009 16:00 ET
http://www.marketwire.com/press-release/PrimeGen-Energy-Rodnikovskogo-Project-Drilling-to-Commence-1173941.htm
PrimeGen Energy Rodnikovskogo Project Drilling to Commence
BRIDGEWATER, NJ--(Marketwire - November 9, 2009) - PrimeGen Energy Corp. (PINKSHEETS: PGNE) ("PrimeGen" or the "Company") wishes to advise that as part of the recent previously announced acquisition on March 31, 2009, of a 100% interest regarding an oil and gas project in Rodnikovskogo, Russia, the operator, Seneko, has notified PrimeGen of their mobilization of equipment for the commencement of drilling within the participatory lands.
The well has been titled as the "Rod 10-21" and is scheduled for immediate drilling with preliminary results anticipated within one week from commencement. The operator has advised that the equipment is currently on its way to the targeted location and drilling will begin shortly.
The property is located in the Krasnoarmeiskome District, Saratovskoi Oblast in Russia, one of the most significant oil and gas regions in the country with advanced infrastructure and more than 60 years of oil and gas production history. Saratov lies in the European part of Russia and borders Kazakhstan, the largest oil producing country in Central Asia. The property covers an expansive area of approximately 250 sq. km.
Continuing 3D seismic data collection and analysis of the property is scheduled for 2010 and will be running concurrently with the drilling program. Several additional high potential drill targets have already been identified and will be further defined and evaluated for feasibility during the next phase of work on the property. The license is within a highly prospective region with existing oil production on adjacent licenses and the super-giant THK-BP gas field.
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April 26, 2009 Galloway Energy Press Release:
http://www.energy-pedia.com/article.aspx?articleid=134842
US: Galloway Energy begins West Texas drilling project
26 Apr 2009
Galloway Energy Inc has advised that as part of the recently announced participation agreement regarding a gas producing project in West Texas, the operator has updated Galloway of their mobilization of equipment for the commencement of drilling within the participatory lands.
The new well is located adjacent to the town of Ozona in Crockett County, Texas. The well has been titled as the "Adams Feed" and is scheduled for immediate drilling with preliminary results anticipated within one week from commencement. The operator has advised that drill equipment is currently on its way to the prospect and drilling will begin shortly.
March 23, 2009 Crown Press Release:
http://www.scandoil.com/moxie-bm2/news/crown-finalizes-langford-russian-acquisition.shtml
Langford holds, through its subsidiaries, exploration and development licenses for the Tereshkinsky, Kikinsko-Gusikhinsky and Krasnoarmeisky-2 properties. The properties are located in the Saratov region of Russia, one of the major oil and gas regions in the country with advanced infrastructure and more than 60 years history of oil and gas production. Saratov lies in the European part of Russia on the border with Kazakhstan, the largest oil producing country in Central Asia. The three properties combined total approximately 500,000 acres. Continuing seismic work and analysis is scheduled for 2009 followed by exploration drilling.
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EXAMPLE #5
Nov 16, 2009 16:00 ET
http://www.marketwire.com/press-release/PrimeGen-Energy-Initial-Production-Timan-Pechora-Kochmesskoye-No-7-Well-Averages-1442-1175549.htm
PrimeGen Energy -- Initial Production at Timan-Pechora Kochmesskoye No. 7 Well Averages 1,442 Barrels per Day
BRIDGEWATER, NJ--(Marketwire - November 16, 2009) - PrimeGen Energy Corp. (PINKSHEETS: PGNE) ("PrimeGen" or the "Company") today announces the initial production for the Kochmesskoye # 7 well at Timan-Pechora, Russia. The well commenced commercial oil production on October 26, 2009, and the Company has received production results for the first 20 days. Total oil produced and sold was 28,840 barrels with an average daily production rate of 1,442 barrels per day.
"The Kochmesskoye # 7 well is the seventh of a multi-well program drilled at Timan-Pechora by PrimeGen. The 2009-10 development program calls for the drilling of a minimum of 30 wells to develop the field. When fully developed, the 30 wells could yield a daily production rate at Timan-Pechora of 35,000 barrels per day. The fourth well of the project was drilled and completed on August 24, 2009, and resulted in setting a new production record for the field of 1,670 barrels of oil per day. In addition, well numbers 1 through 6 are producing at full capacity.
Using current pricing for Timan-Pechora crude oil, PrimeGen has confirmed that the new well alone has generated $2.0 million in revenue or a projected $36.8 million per year. Currently, oil at Timan-Pechora has been priced at over $70.00 per barrel.
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Apr 04, 2005 March Production Press Release
http://investorshub.advfn.com/boards/post_new.aspx?board_id=9150
March Production at Joarcam 13-27 Well Totals 1414 Barrels Oil -- Initial Production Averages 49 Barrels per Day
LOS ANGELES, CA -- (MARKET WIRE) -- April 4, 2005 -- Silver Star Energy, Inc. (OTC BB: SVSE) today announces the March production for the 13-27 well at Joarcam, Alberta. The well commenced commercial oil production on March 1, 2005, and the Company has received production results for the first 29 days. Total oil produced and shipped for sale was 1414 barrels with an average daily production rate of 49 barrels per day.
The 13-27 well is the first of a multi-well program drilled at Joarcam by Silver Star. The 2005 development program calls for the drilling of a minimum of 10 wells to develop the field. The Company has previously announced that the 5-22 well is ready to drill as soon as conditions allow following spring breakup in Alberta. When fully developed, the 10 wells should give a daily production rate at Joarcam of 500 barrels per day.
Using current "West Edmonton Light" pricing for Joarcam light crude oil, Silver Star has now projected that the well has generated $80,600 in revenue or $967,000 per year and will payout its entire cost in 7 months. The long-life reserves in the Viking allow wells to be in commercial production for 20 years. Currently, the 38-degree API light oil at Joarcam has been priced at over $57.00 per barrel ($67.00 CDN). The prospect lands are located about 25 miles southeast of Edmonton, Alberta and there is year-round access to the property.
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They repeat basically the same statements in several press releases so I didn't see the point of posting some of the same plagiarisms over and over again
nodummy
14 years ago
PrimeGen Energy Group (PGNE) another domain registered by Dale Bernhart is also guilty of plagiarizing its officers bios.
This stock got suspended on March 1, 2020:
http://www.sec.gov/litigation/suspensions/2010/34-61603-o.pdf
http://www.sec.gov/litigation/suspensions.shtml
From the Initial Company Disclosure filing:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=25735
Robert Charlton, Chief Executive Officer and Director
Robert Charlton, by virtue of his entrepreneurial skills and significant experience in the natural resources sector, has executed a number of acquisitions for restricted common share interests in the Company. Under his direction, the Company initiated is on track for production capacity gains through new drilling and additional acquisitions.
Viktor Tymoshenko, Chief Financial Officer and Director
Mr Tymoshenko has 27 years experience in oil & gas exploration, operations management and the acquisition, processing and interpretation of seismic data. He has worked at Galileo, Copparea, Enterprises Oil, and Ampull International From 1996 to 2002.
Yury Rybachuk, Director
As a founding director and shareholder of PrimeGen Energy Corp., Mr. Rybachuk was responsible for acquiring the Russian assets and the Company’s IPO. He has over 25 years corporate experience in financing, restructuring of industrial, petroleum and mineral resources companies, including the establishment from start up of substantial operating businesses, public offerings and the listing of
Information and Disclosure Statement 14
companies valued at over $1 bn. Has held senior executive positions in listed public companies with a wide range of interests including petroleum, mining, industrial and high technology interests such as Acronin Petroleum, Catalina PL, amongst others.
Nicolas Busta, Director
Mr. Nicolas Busta brings a wealth of expertise and experience in the energy sector to the company. He has over 20 years experience in the investment banking industry, during which he focused primarily on the eastern European power and energy sector. His experience includes multiple equity and debt transactions in the sector. Mr. Nicolas Busta has worked extensively with Russian energy and power companies. Mr. Busta is the chairman of the advisory committee and also a member of the Audit committee.
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Robert Charlton's bio was stolen from here:
http://www.stocksjournal.com/PLTG.cfm
Blair Merriam, President and CEO
Blair Merriam, by virtue of his entrepreneurial skills and significant experience in the natural resources sector, has executed a number of acquisitions for restricted common share interests in the Company. Under his direction, the Company initiated its production and is on track for production capacity gains through new drilling and additional acquisitions.
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Viktor Tymoshenko bio was stolen from here:
http://www.medoilgas.com/corporate/board-members/
Mr. Sergio Morandi
(Chief Executive Officer)
Mr Morandi has 27 years experience in oil & gas exploration, operations management and the acquisition, processing and interpretation of seismic data. He has worked at ENI, Coparex, ELF, Enterprise Oil, Shell Italia E&P and Shell International E&P. From 1997 to 2003, he was a lecturer of Applied Seismology at Basillicata University in Italy and in 2002 and 2003 he was a Board Member of the Italian National Upstream Association (Associazione Mineraria Italiana).
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Yury Rybachuk's bio was stolen from here:
http://www.medoilgas.com/resources/0506.pdf
Anthony A Trevisan Executive Director Mr. A. Trevisan has over 20 years corporate experience in financing, M&A and the restructuring of industrial, petroleum and mineral resources companies, including the establishment from start up of substantial operating businesses, public offerings and the floating of companies valued at over $1bn. He has held senior executive positions in listed public companies with a wide range of interests including petroleum, mining, industrial and high technology interests such as Arabex Petroleum (Rubiales Petroleum Discovery), Callina NL (petroleum workover project at Komi Oil Field, Russia), Trident Petroleum Joint Venture with Conoco (now Conoco Phillips) in Papua New Ginea, Aqua Vital (Australia) Ltd (now owned by Coca Cola), amongst others.
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Nicolas Busta's bio was stolen from here:
http://www.medoilgas.com/corporate/board-members/
Mr. Michael Bonte-Friedheim
(Non-Executive Chairman)
Mr Michael Bonte-Friedheim brings a wealth of expertise and experience in the energy sector to the company. He has over 15 years experience in the Investment Banking Industry, during which he focused primarily on the European Power and Energy Sector. Most recently, he was a Managing Director in Goldman Sachs' Energy and Power Team in the European Investment Banking Division. He previously worked in Morgan Stanley’s European Power and Utilities Team and, before that, at Credit Suisse First Boston. He left Goldman Sachs in August 2006. His experience includes multiple M&A, equity and debt transactions in the sector. Mr. Bonte-Friedheim has worked extensively with Italian energy and power companies. Mr. Bonte-Friedheim is the chairman of the Remuneration committee and also a member of the Audit committee.
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They were really sloppy on this one they stole 3 bios from the same company!
Like with Supatcha Resources Inc (SAEI), Southridge Minerals (SRGE), Fidelis Energy Inc (FDEI), and Navajo Wind Energy (CLBN) - Dale Bernhart is behind registering the domain name for this company from out of Panama.
The Kenneth Eade Connection:
PrimeGen Energy Group (PGNE) shared the same office address as Southridge Minerals (SRGE) which is connected to Kenneth G. Eade because he was the legal counsel of that company.
scion
15 years ago
Trading Suspensions: 34-61603 Mar. 1, 2010 PrimeGen Energy Corporation
http://www.sec.gov/litigation/suspensions/2010/34-61603.pdf
See also Order
http://www.sec.gov/litigation/suspensions/2010/34-61603-o.pdf
http://www.sec.gov/litigation/suspensions.shtml
SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 61603 / March 1, 2010
SEC SUSPENDS TRADING IN THE SECURITIES OF PRIMEGEN ENERGY CORPORATION
The Securities and Exchange Commission (the “SEC”) today announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of PrimeGen Energy Corporation, a company organized under the laws of Nevada, commencing at 9:30 a.m. EST on March 1, 2010, and terminating at 11:59 p.m. EST on March 12, 2010.
The Commission temporarily suspended trading in the securities of PrimeGen because of questions that have arisen regarding the adequacy and accuracy of publicly disseminated information concerning, among other things, PrimeGen’s current financial condition, management, and business operations, and the promotion of PrimeGen’s stock. PrimeGen is quoted on the Pink Sheets under the symbol “PGNE.”
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the companies.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not it has complied with the rule, it should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 5515760. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, it should refrain from entering quotations relating to PrimeGen’s securities until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation that is in violation of the rule, the Commission will consider the need for prompt enforcement action.
The SEC’s Office of Investor Education and Advocacy has information for investors and members of the general public on topics directly related to this action by the SEC. See http://www.sec.gov/investor/antispaminitiative.htm for a compilation of helpful links
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