Octagon 88 Resources (OCTX)

[otc1investor]

What is happening with OCTX

[catabler]

Why’s this moving?

[willlbone]

Down 80% on less than 200k shares.

[TraderGash]

Patient short position pays off! What happened to all the Fraud Research crew?

[TraderGash]

Is this it? It this the dump we have all been waiting for? I will scale out of my short position as the price fades, and reload if they bring the pps back up again near resistance. I am willing to be patient, my position is small relative to my account.

[nodummy]

Caroline Winsor aka Caroline Meyers aka Caroline Danforth arrested

https://promotionstocksecrets.com/wp-content/uploads/2014/07/Winsor.pdf

http://www.stockwatch.com/News/Item.aspx?bid=Z-U:VIOSF-2191539&symbol=VIOSF®ion=U

http://www.securitieslawyer101.com/carolyn-winsor-arrest/


She was a key figure in the old CMPCF Awesome Penny Stocks promotion for which she was already wanted by the Alberta authorities and more recently was the key insider for the OCTX stock promotion

She was also already wanted by authorities along with Richard Walchuk for kickback/bribery charges

https://promotionstocksecrets.com/wp-content/uploads/2014/07/winsor_indictment.pdf


From the Complaint:

https://promotionstocksecrets.com/wp-content/uploads/2014/07/Winsor.pdf

"Winsor routinely conducts large securities transactions. For instance, financial records show that from March through April 2013, entities that Winsor controlled sold over 1.5 million shares of a company called Octagon 88 Resources, Inc. for over $11 million. The proceeds of these sales were then credited to a Swiss bank, Rahn & Bodmer Co."


I did a very detailed research report about Caroline Winsor's secret involvement in OCTX back on May 3, 2013 (her name never showed up in any public filings for that company):

http://promotionstocksecrets.com/octagon-88-resources-octx-the-complete-ugly-truth/



Caroline Winsor faces some pretty stiff penalties for her actions which date back to the 1990s. She has been a repeat securities violator for a very long time:

"The total maximum penalty defendant faces is 165 years imprisonment, three years of supervised release, a $21,250,000 fine, and a $900 special assessment. Her estimated advisory sentencing guideline range is 57 to 71 months imprisonment."




Meanwhile this pump&dump was never shut down by the SEC despite overwhelming evidence that it should have been.

[wshaw14]

Absolutely correct. Anybody that does not believe this, just do a little google research on the Tigue boys and their cohorts. At least then you are going into it with your eyes open.

[MToilman]

SCAM! Beware that this is a scam. There is NO commercial oil on OCTX leases, and, the company is manipulated by Swiss boiler room backed by Russian $. Take your life (savings) in your hands when dealing with OCTX.

[TraderGash]

Any shorts still out there? Is this failure of support the real thing? Is OCTX finally toast? Have all the Fraud Research crew given up and gone home?

[skrilldavy]

Yessss. Brilliant post. I award you 1,000,000 points.

[petermic]

http://seekingalpha.com/article/1869661-which-oil-stocks-to-buy-after-the-global-shuffle#comment-26470221

Octagon 88 received very bullish reports about its holdings in Alberta, the rich province in Canada. The company recently released its production video for the Elkton Eriosional Edge. There is third-party validation of potentially more than one billion barrels of oil for that block.


Jonathan Yates is the founder of EarnedMediaUnlimited. He has had thousands of articles appear under his byline in websites and periodicals such Seeking Alpha, The Washington Post, AOL Daily Finance, Foreign Policy, and The Motley Fool, among many others. The views expressed are his own. In his personal investing due to his work with SmallCapNetwork, he has started to develop a greater appreciation for the potential in undervalued small cap stocks, both for assets and revenue.

[petermic]

Your first post!

[petegray]

Big Money in Small Oil

NEW YORK (TheStreet) -- In a recent report, the U.S. Energy Information Agency predicted that global energy demand will increase over 55% by 2040. While "Big Oil" stocks have done well in the current bull market, it is "Small Oil" companies that should benefit the most from the increasing need for oil and natural gas around the world in the years ahead. Other than the dividend income increasing, there is little to expect in the way of total return growth from Exxon Mobil (XOM_), Chevron (CVX_) and other Big Oil firms.

That is a result of any future energy demand factors already being accounted for in the stock price rise of major oil and natural gas companies. The returns have also been enhanced by investment dollars flowing into the commodity sector due to quantitative easing measures from central bankers around the world. Oil assets have benefited tremendously from being purchased as inflation hedges as a result of the creation of massive amounts of fiat currencies without the corresponding economic growth.

But that has not lifted the share prices of many Small Oil stocks.



These publicly traded companies do not have the market capitalization to absorb all of the investment capital seeking the best deal for the money. Institutional investors many times cannot buy shares of entities that are below a certain price level or market capitalization size. That results in very appealing opportunities for individual investors in Small Oil.

This is presently happening with Octagon 88 (OCTX: OCTBB), an oil and natural gas firm with extensive holdings in Canada. Due to very positive reports about the potential of its assets and results from drilling, the stock price of Octagon 88 has soared more than 25% over the last quarter of market action. Over the same period, by contrast, Exxon Mobil has fallen more than 5% and Chevron has dropped by more than 3%.

While all publicly traded companies have a mandate to enhance shareholder value, Americas Petrogas (BOE.V) is taking very tangible action. Americas Petrogas has retained Jefferies for the consideration of "range of strategic alternatives." This move was initiated after bullish reports on the assets of Americas Petrogas in Argentina. For its most recent quarterly results, Americas Petrogas had double-digit increases in both revenues and production.

[petermic]

Thank you for that information. Much appreciated.

[bhumiartha]

Petermic, Garry and Bill Tighe are the principals behind OCTX, Zentrum energie Trust, and CEC North Star, the companies all related in this.
Previously, they had run successful pump-and-dump, using the same and similar properties, under thenames Cougar, Kodiak and Tamm Oil.
The OCTX holding is actually a 32 per cent share in a privately held company called CEC North Star, which in turn is financed by Zentrum Energie. both CEC North Star and Zentrum are Tighe-controlled entities.
You have seem the pump about the well they have drilled, the success they have had, how they have moved into the production phase, and even a video of the production method. And you have valuation of Ersnt Schlotter, swho says the property could produce a fortune of up to several billion dollars.
This is meant to create the impression that this a lucrative property about to produce oil and bring in lots of money for shareholders.
Then you look at what OCTX filed with the Securities and Exchange Commission, a couple of weeks ago, in their 10Q:
The Mineral Rights Agreement contains the following terms, amongst others:


·
An 8% Royalty of Gross Monthly Production to be paid to Zentrum;

·
On or before December 31, 2013, the Company shall have drilled a minimum of one (1) Exploration Well to Contract Depth at locations to be provided by Zentrum and agreed to by the Company on Section 9 89 R3W5 of the Trout Property;


·
On or before June 30, 2014, unless otherwise mutually agreed to, the Company shall perform a 3D seismic program on Sections 4,5, 6 89 R3W5 of the Trout Property. A copy and rights to the seismic data shall be provided to the Vendor within 60 days of the completion of the project;


·
On or before December 31, 2014, unless otherwise mutually agreed to, the Company shall have drilled a minimum of one (1) Exploration Well at a location to be mutually determined based on the 3D seismic above;


·
Any default in the terms above will terminate the Mineral Rights Agreement and the Company shall return the Trout Property to Zentrum.


When you have a eight per cent gross overriding royalty on production, that means almost the entire potential profit margin is consumed by the GORR. What is left for investors?
Moreover, the oil "that has moved into porudction phase" is described in the legal document as an exploration well that will lead to a 3D seismic program: a prliminary step to delineate the reservoir, which seems to be many years from production.

[petermic]

I don't understand the relationship between OCTX and 'the Tighe boys'. Would you please explain? Thanks.

[bhumiartha]

To save folks a lot of reading, this is the behaviour pattern I'm referring to, extracte from one of the judgments:

"[30] The conduct of Mr. Tighe, the primary representative of the Defendants, supports the
appointment of a receiver. Although the Defendants submit that the assets that are the subjectPage: 8
of the order are secure, there is troubling evidence that the mortgage-backed debentures appear
to have questionable value, that the $200,000 that was supposed to be in Mr. Patterson’s trust
account does not exist, that the Georgia Pacific cash account that was supposed to contain
$986,000 is not actually a cash account at all, but rather a trading account. Mr. Tighe’s
affidavits and cross-examination on affidavits do little to clear-up these matters, and instead
add to the apprehension that these assets are of less value than represented to Paragon or that
they in fact do not exist."

Considering how many times the CEC North Star lands in which OCTX has a 30 per cent interest have been cycled and recycled, there may be grounds "that these assets are of less value than represented."

[bhumiartha]

When you're ready to sue the Tighe boys for the investment you're about to lose on OCTX, the judgments against Garry listed below might give you some useful information on the tactics and strategy employed by the brothers.

http://www2.albertacourts.ab.ca/jdb/1998-2003/ca/Civil/2002/2002abca0160.pdf

http://www2.albertacourts.ab.ca/jdb/1998-2003/qb/Civil/2002/2002abqb0430.pdf

http://www2.albertacourts.ab.ca/jdb/1998-2003/ca/Civil/2002/2002abca0082.pdf

http://www2.albertacourts.ab.ca/jdb/1998-2003/ca/Civil/2002/2002abca0072.pdf

[kyle_anderson]

OCTX promotion starting today.

O/S: 26,545,473 (a/o May 20, 2013)
A/S: 400,000,000 (a/o March 31, 2009)

Good luck

[wshaw14]

I will assume you are joking. The only squeezing going on with OCTX is the juicing of shareholders by the Tigues. Do some research on these folks. OTCX will end up in the same shape as their other ventures.

[al2vkjl]

OCTX short squeeze peace - hahah
Happy Halloween ya'll, short squeeze comin!

[bhumiartha]

The strategy is working beautifully! Where is the SEC? Missing in Action again?
http://promotionstocksecrets.com/octagon-88-resources-inc-octx-pumpdump-report/

[bhumiartha]

Right you are Wshaw. Garry is the bent one; brother Bill is the doofus fall guy who is set up to face all the charges once the authorities finally wake up, and now Garry's boy Feliciano has been pulled into the scheme. As for Guido Hilekes et al, they're part of the supporting cast of villains in this piece of nastiness. Bad, Bad, Bad. Amazing people aren't running away. If people are still buying into this crap after all the warnings, they deserve to lose their money.

[wshaw14]

This is a typical Tigue company IMHO. Folks check out the folks running this company. They are bad news.

[bhumiartha]

Pays to read the fine print!
Instead of lapping up the daily pumps, read their legal documents.

This is from page 18 of their latest annual report, filed with the U.S. Securities and Exchange Commission:
"We have not and do not intend to pay any cash dividends on our common shares and, consequently, our stockholders will not be able to receive a return on their shares unless they sell them."

Or how about this from Page 13?
"Our financial condition raises substantial doubt about our ability to continue as a going concern."

And from Page 14:
"Our ability to produce sufficient quantities of oil and gas from our properties may be adversely affected by factors outside of our control."

Or this admission from Page 16:
"Our President devotes less than full time to our business, which may negatively impact our operations."

How normal is that for a stock trading at $6.40 a share with a market cap approaching $200 million?

And look at this, from Page F9 of the Financial statements:
"From inception through June 30, 2013, we have incurred operating losses of approximately $714,611, of which approximately $115,611 represents actual cash losses. At June 30, 2013, our cash on hand was $108,593.

These factors raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty."

Run Away, Run Away, Run Away!

[rookytrader]

Getting the E soon

[wshaw14]

Anything with this "Management" attached to it I would steer clear of. Folks merely to do some DD on them.

[bhumiartha]

NOTHING is random with these boys. They are very sophisticated at priming the pump, and doing minuscule volumes to manipulate opening and closing prices.
I noticed in the last outrageous pump, the fine print said iHub was paid to distribute the message.
Guess when those folks came to the iHub board they saw the warnings and declined to be fleeced.

[TraderGash]

What do you make of the fact that 200,000 shares of OCTX suddenly became available to short at Interactive Brokers a few days ago, and price action is testing support. Manipulated short trap with squeeze to follow, or just a random event?

[bhumiartha]

Because it's all a scam. The company OCTX has $7,000 in its account, warns in its SEC filings that it may not be able to access a draw down credit facility of a couple of million bucks, and it takes a minimum of $2.5 million to complete one horizontal thermal well.
Cold flow may work, but at max ten per cent recovery on a million dollar production well where are the economics that begin to make sense? How long will it take to recover a million dollars capex if you are cold flowing heavy oil at 10 barrels a day? The operator is the "private" CEC North Star and OCTX DOES NOT have operatorship of the lands it so loudly trumpets. Those are in the hands of CEC North Star, another Garry Tighe venture, which Garry will fold in a flash once he has determined that he has milked this one for all it's worth. As usual, it will be shocked investors who fail to understand the real meaning of words like "could" and fail to understand that the term "up to" includes the number zero.
By the way, the shares of CEC North Star that OCTX owns, are based on the same land where TAMM ran up a $82 million loss without being able to produce a single barrel of oil.
If you want a genuine buy, stick with DWOG. they got out of the Tighe clutches and are now a viable company with a very promising future.

[wshaw14]

Confusing to me. "then over time are stimulated with CSS and then converted to SAGD" Why not pick the optimal method and use it? Why both? Things just dont look right to me. Maybe it is the name Tigue, just makes me suspicious.

[stockmaniac22]

Management Update Bluesky/Gething Project Third Party Validation

Octagon 88 Resources Announces Bluesky/Gething Project Management Update – 400 Million Barrels PIIP (Third Party Validation)

ZUG, Switzerland--(BUSINESS WIRE)--
Octagon 88 Resources Inc., (OCTX) is pleased to announce to its shareholders that the operator CEC North Star has advised that parallel to the Elkton Erosional Edge drilling program that the Operator will be concluding a 3D seismic program on the Bluesky/Gething. This will enable the selection of two core well drillings targets to be drilled prior to the end of this quarter in 2013.


Management Update
The heavy oil and bitumen-filled sandstones are exploited by primary recovery horizontal wells and secondary steam methods such as cyclic steam stimulation (CSS). These are typically developed using horizontal wells with primary recovery, which then over time are stimulated with CSS and then converted to SAGD. These developments lead the industry in netback and returns on investment when compared to projects across North America. CEC expects that with an additional 3D seismic and a 1 to 2 well core program planned for late 2013 that this project will mature into a similar development as the South Peace Bluesky Projects. We have an internal estimate of 800 mmbbl of PIIP for the Bluesky Channel project, which has the added advantage of benefiting from the infrastructure developed by Phase 1 to 3 of the Manning projects.
-CEC North Star Ltd.
Octagon 88 Resources, Inc. has acquired substantial light and conventional heavy oil assets in Northern Alberta. The CEC North Star Ltd project has been substantially de-risked which leads the company to emerge as a development stage oil and gas company. The current program schedule entails working with the operator of these properties to bring on production and cash flow through the company’s direct working interests, and indirect investments spread throughout the projects.
Octagon 88 Resources is the largest publicly traded shareholder of CEC North Star currently holding 33 percent of its shares.


Forward-looking Statements:
This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of our 2013 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended December 31, 2012. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.

[wshaw14]

Amazing, "By the way, TAMM, CEC North Star, Zentrum Energie Trust AG and Octagon 88 resources ALL HAVE THE SAME OWNERSHIP OF INSIDERS WHO STARTED AND FLOATED EACH COMPANY" TAMM alone would be enough to scare me off. I am familiar with that scam. FOLKS, do some DD on " "Mr. Tighe"

[bhumiartha]

Dear Buccaneer
In my private mail you were kind enough to give me an insight into your character and breeding with your colourful use of Anglo-Saxon invective in two separate missives.
Difficult, isn't it, when evidence and fact trump OCTX shilling, and the hysteria bred by you and your cohorts preys on the clotted ignorance of the gullible.
My congratulations, Sir, on your commitment to this path.

[stockmaniac22]

Elkton Well Pad Construction Begins


OCTX is pleased to announce that the Manning Projects Operator (CEC North Star) has confirmed it has received (13.09.13) the final governmental approval required to file for the drilling license of the first production well on the Elkton Erosional Edge. This is two weeks earlier than previously announced, the drilling company and other required oil service providers are scheduling and will provide the anticipated spud date in the next few days. The construction of the Elkton Erosional well pad is currently underway.
The Company has verified through third party analysis that the core samples and well logs from the Elkton Erosional has been proven to be geologically unique as to the presence of unconsolidated oil sands at the edge of the consolidated limestone carbonates holding even larger quantities of oil. Recent economic simulation testing has proven that primary (Cold Flow) production will be the production method used for the Elkton Erosional Edge, this is the Company's game changing aspect as the operator will now carry on straight to production not needing thermal recovery thus saving exponentially on CAPEX costs and cash flow timelines.
Elkton Erosional Edge:
· 1,050 million barrels PIIP (third-party estimate).
· Primary recovery of oil in the Elkton Erosional Edge with 8% to 14% recovery rate with staged and scalable 5,000 bbl/d to 10,000 bbl/d projects.
· To be followed up with infill drilling and then subsequent pressure maintenance with an additional 8+% recovery rate for an estimated cumulative 200 million barrels.
· Recoverable peak production exceeding 30,000 bbl/d.
Enhanced oil recovery (EOR) exploitation targeting an additional 10% to 20% recovery rate with proven EOR technologies.
The expanded development plan below details how the Company and partners have developed a highly trusted confidence geological model for the area; specifically for the Elkton Erosional Edge from results derived from recent drilled wells, cores and seismic data.

http://finance.yahoo.com/news/octagon-88-resources-receives-final-113000402.html

[bhumiartha]

I especially like the fact where your pump says that spudding could begin on 400 horizontal wells in 2014, in phase one of the development plan.
It takes a minimum three years to get environmental and regulatory approval for a project of this scale.
More importantly, this company with $7,000 in the bank needs to come up with $1 billion (0ne billion dollars) to complete 400 horizontal wells, since these cost $2.5 million PER WELL.
There is no regulatory approval, no facilities engineering, no facilities built yet, and somehow they are going to have 400 wells pumping 30,000 barrels a day?
All with $7,000 cash?
Pump and greed has driven this worthless company to a $200 million plus market cap, and this pump will no doubt cause many people to lose their life savings.
Criminals, that's what you are.

[buccaneer1961]

I posted whats in my email...ive no position nor am I taking one...

[bhumiartha]

You are well named, Buccaneer.
Behind this loud and misleading pump is the fact that Octagon has $7,000 cash.
As to the $38 billion in assets you talked about, to get them it paid $32 (yes, thirty two dollars) and issued about five million shares in escrow[ i]to the company (Tamm) from which Octagon and another intermediary (CEC North Star) acquired the property.
Why did they get the property for nothing? because TAMM lost $81 million dollars of investor money without being able to get out a single drop of oil.
By the way, TAMM, CEC North Star, Zentrum Energie Trust AG and Octagon 88 resources ALL HAVE THE SAME OWNERSHIP OF INSIDERS WHO STARTED AND FLOATED EACH COMPANY.
That's why Wall Street hasn't "discovered" this company, Buccaneer. It is worthless.
And if the U.S. Securities and Exchange Commission had any gumption, the promoters would be behind bars for spreading this farrago of utter rubbish through company after company after company, bilking innocents along the way.
You ought to be ashamed of yourself, but then, sociopaths never are.

[buccaneer1961]

http://octagon88report.com/index.html

[bhumiartha]

To spare you grief and losses, this land came from TAMO to CEC North Star, then to OCTX. This is from TAMO's latest 10Q statement filed with the SEC.

Material Contracts

On May 31, 2012, the Company reached a binding agreement with CEC North Star Energy Ltd (ÇEC North Star”) of Calgary Alberta to transfer the oilsands leases it holds in the Manning Area in escrow pending a series of events being completed. CEC North Star will issue shares in escrow North Star common voting shares at the agreed value per shares issued from Treasury of Thirty Two Dollars ($32.00) Cdn. for a total of 5,062,500 shares. Due to family relationships between CEC North Star Energy and the Company, Mr. Tighe abstained from voting on the transaction. Due to a common board position on both companies, Mr. Hilekes abstained from voting on the transaction. North Star will be responsible for rental costs of the Manning lands going forward. Tamm acknowledges and consents to CEC transferring the balance of the farm in agreement that would apply to the P&NG leases, to North Star. The GORR in place on the Tamm leases will remain the obligation of Tamm under this arrangement The transaction has two key requirements to close – the put/call – 1. TAMM is to re-domicile to Alberta based on a shareholder vote at the next AGM and required documentation, regulatory requirements being completed. 2. Post the re-domicile, approval of the majority of the TAMM shareholders of the transaction at the same AGM would be required. Upon signing this agreement, Mr. Hilekes is appointed to the Board of Directors of CEC North Star and Mr. Tighe is appointed as COO of CEC North Star.


And why did TAMO do this, to come to a point where it sold five million shares for thirty two dollars to CEC North Star? Another extract from their 10Q:

NOTE 2 – GOING CONCERN MATTERS

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying unaudited condensed consolidated financial statements for the three months and inception to date periods ended June 30, 2013, the Company has incurred losses of $15,126 and $81,571,623, respectively. In addition, as of June 30, 2013, the Company had a working capital deficit of $391,112, and no revenue generating operations. These factors, among others, indicate that the Company may be unable to continue as a going concern.


So TAMO loses more than $81 million trying to develop this land, transfers the same land to CEC North Star with a few million shares sold for nothing, then CEC gets Octagon 88 to vend in, and Octagon 88 becomes the new pump vehicle.

The SEC filings show that this predecessor company incurred losses[ of more than $81 million dollars without being able to extract a single drop of oil. And now it is back under a new corporate name. BEWARE./b]

[bhumiartha]

And just how will it do so with just seven thousand dollars in cash?
Read their SEC financial statements.
It will take at least a million dollars to create the engineering and environmental studies needed to apply for government permission to do anything, which in itself will take at least a year and ahalf once everything is in order.
The draw down credit facility they haven't touched, "might not be available," according to OCTX's filings with the SEC.
More importantly, read the ones for TAMO, the predecessor company to CEC North Star and Octagon, launched by the same team.
Here are some questions you should ask, as this same patch of land has now been recycled to four previous pumped and dumped companies from the same promoters.
Where are the environmental studies?
Where is the application for regulatory approval?
What work has actually been done on economic modeling?
All of this, to have any credibility, requires well-known thrid parties whose signed and certified assessments should be attached, and explained in plain English.
This same team has pulled off five elegant scams in a row.
Do look at the history of CEC North Star predecessor companies TAMO, KDKN and COUG: all use the same pump technique on high-risk, unproven land.
in fact, one of the "independent engineering studies" concluded there is no known commercially viable means of extracting the oil from one of its main patches of territory, I believe that was either Kodiak or Cougar.
Octagon 88 is run by the Tighe brothers and their associates, including the paid shill Ernst Schlotter, who readily admits in his disclosures that he does no due diligence or verification of any of the claims he so loudly trumpets as "independent" research.
Please save your money.
And please don't say you weren't warned, when within two years the big dump is on (the Tighes launch these schemes by issuing millions of shares to themselves, listing the company, and selling the shares through various misleading pumps designed to beguile and bamboozle people who don't read between the lines).
It sickens me to see good, honest people taken repeatedly for rides by this band of miscreants.
So keep waiting for these "great" releases, they will continue until they have wrung out every penny they can.

[stockmaniac22]

Been waiting for this release for a while!!


Octagon 88 Resources Inc., (OCTX) is pleased to announce it has received a copy of the CEC North Star Ltd. Annual Report. The report forecasts 1.6 billion barrels PIIP (Petroleum Initially In Place) in the Manning Oil play which has been validated by an industry qualified third party oil and gas engineering firm. In the annual report CEC North Star has provided an in-depth insight to project timelines, deliverables and forecasted cash flows.

CEC North Star Annual Report 2013

A plan of development (POD) has been compiled that proposes a combined phased development of the “Manning Projects” that are located in the Peace River block of northwestern Alberta, Canada. The lands contain a projected 3+ billion barrels of Petroleum Initially in Place (PIIP).

1.6 billion barrels of this forecast has already been validated by a leading third

Party oil and gas engineering firm using conservative NI 51-101 criteria…

The Manning projects comprise the following:

First Project: Elkton Erosional Edge

1,050 million barrels PIIP (third-party estimate).
Primary recovery of oil in the Elkton Erosional Edge with 8% to 14% recovery rate with staged and scalable 5,000 bbl/d to 10,000 bbl/d projects.
To be followed up with infill drilling and then subsequent pressure maintenance with an additional 8+% recovery rate for an estimated cumulative 200 million barrels.
Recoverable peak production exceeding 30,000 bbl/d.
Enhanced oil recovery (EOR) exploitation targeting an additional 10% to 20% recovery rate with proven EOR technologies.

Second Project: Debolt Erosional Edge

Debolt erosional edge development with 400 million barrels PIIP (internal estimate).
Third Project: Bluesky Oilsands Channel

Multiple 5,000 bbl/d to 10,000 bbl/d Bluesky Primary Recovery and Thermal Project(s). Internal estimate of 800 mm barrels PIIP
Development schemes similar to the Baytex, PennWest, Shell, Husky and Murphy of the Seal and Carmon Creek areas of the Peace River block.
Fourth Project: Down dip Elkton and Debolt

a. Down dip from erosional edge Elkton and Debolt targets.

Potential additional 1+ billion barrels PIIP (internal estimate).

The main focus of the Plan of Development is the primary recovery of approximately 200 million recoverable barrels of 13-15 API heavy oil in the Elkton Member. The various models enclosed in the POD evaluate several capital inputs, which in all cases show positive cash flow, repayment of debt and ability to pay dividends. These models are extrapolated for 25 years, whereas third party engineering reports and internal analysis suggest an economic reserve life of over 35+ years.

The Debolt Erosional Edge, the Bluesky/Gething and the down dip Elkton and Debolt targets are discussed in the POD but not included in the economic models. As additional information is obtained, it will be added to the overall Manning Projects. Details of these projects are discussed in the Operations section of this report. Our company has, in a very short time with minimum capital expenditures, taken a major step down the road to achieving its ultimate goal and we look forward to continued progress in building significant asset value for our shareholders.

-CEC North Star- Annual Report 2013

The Company will file CEC North Star’s 2013 Annual Report in an 8K for full shareholder disclosure. The Annual Report can be found by clicking the following link below:

http://cecnorthstar.ch/images/PDF/2013-CEC-North-Star-Annual-Report.pdf

Octagon 88 Resources

Octagon 88 Resources, Inc. has acquired substantial light and conventional heavy oil assets in Northern Alberta. The CEC North Star Ltd project has been substantially de-risked which leads the company to emerge as a development stage oil and gas company. The current program schedule entails working with the operator of these properties to bring on production and cash flow through the company’s direct working interests, and indirect investments spread throughout the projects.

Octagon 88 Resources is the largest publicly traded shareholder of CEC North Star currently holding 33 percent of its shares.

Forward-looking Statements:

This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of our 2013 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended December 31, 2012. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.

[bhumiartha]

And the misleading statements continue, for those who don't read carefully.
It says the application PROCESS will be confirmed by the end of September.
Typically, it takes the Alberta energy Regulator at least 18 months to approve a well license, in the BEST of circumstances.
They will have many questions about cap rock pressure, water quality, sand control, water sourcing, detailed facilities engineering, etc etc. all of which together can approach $1 million in costs JUST TO ANSWER the questions required for regulatory approval.
the company has $7,300 cash!
They say work will begin depending on drilling rig availability. The "availability" is based on ability to pay a deposit upfront. It costs about $2.5 million to complete a production well for this type of formation.
They can turn $300 into $62 million of paper assets, but they cannot magically turn $7,300 into $2.5 million, plus the extra million dollars required to meet the threshold of studies the regulator will need.
Anyone who nvests is being taken for a long, dark, dirty ride before you lose everything.
When you lose EVERYTHING you have invested, please do not say you were not warned.
Flee now, you will have better odds at your nearest casino.

[RealRaynor]

NO LICENSE, just the application for it!

Recent news is again unsubstantial and intentionally phrased misleading for people who read over it quickly.

It is only a License Application Submission, NOT the license itself. Just read the news title thoroughly. Whether the license will be approved is highly questionable.

http://finance.yahoo.com/news/octagon-88-resources-provides-shareholders-110200391.html

Due to the fact that CEC North Star Energy Ltd is a privately held company and does not need to publically disclose provable information about its business, we will never be able to investigate on what facts the news Octagon 88 publishes about their CEC investment are based...

Nice company construction for a pump and dump.

[bhumiartha]

People really shouldn't invest unless they can read and understand company filings with the U.S. Securities and Exchange Commission.
Here is an extract from the company's most recent:

Note 2 – Going concern:

As at March 31, 2013, we are a passive investor in an operating oil and gas company and we hold a Mineral Rights Agreement (see note 4) which gives us the rights to certain oil and gas exploration leases. We continue to seek other oil and gas acquisitions that we can operate. While we have acquired an interest in certain mineral properties (Note 4) we expect to incur exploration stage operating losses until revenue generating operations commence, and for a period of time thereafter. We rely on our officers and directors to perform essential functions without compensation until a business operation can be commenced. We have entered into an agreement for funding of up to $2,500,000 (CDN) by way of an equity placement and a credit facility but we have not yet drawn down the first funding of $500,000 (Note 5). There can be no assurance that funds will be available from the credit facility if and when needed.

From inception through March 31, 2013, we have incurred operating losses of approximately $180,280, of which approximately $123,994 represents actual cash losses. At March 31, 2013, our cash on hand was $7,233.

These factors raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.


And this company is trading at $6 plus, despite all the warnings and all the exposure?
No sympathy for anyone who buys based on Schlotter, the Tighes, and the other crew of proven pumpers and dumpers.

[RealRaynor]

The ugly truth about Ernest Schlotter and OCTX:

http://promotionstocksecrets.com/octagon-88-resources-octx-the-complete-ugly-truth/

Can't be posted often enough, especially regarding the recent news today. Ernest Schlotter is a promoter from Switzerland who was involved in several pump and dumps of questionable oil and gas companys with dubious non-proven assets (COUGF, KDKN, TAMM etc.), which are down 99% now. Same will happen to OCTX, when the insiders dump their shares.

[bhumiartha]

Flee now.
You have been scammed by seasoned and veteran scam artists who specialize in recycling the same useless land through multiple companies.
Report below shows how OCTX value went from $300 to $60 million by paper shuffling between companies, on lands of no proven value whatsoever.
These guys specialize in ginning up "petroleum initially in place" which means they've found some rock or sand with oil in it.
Actually getting it out, if it can be done at all, needs lots of geological studies, engineering studies, reservoir modeling, test wells, results analysis, multi-year regulatory approval, all BEFORE you can start raising the real capital needed to proceed.
http://promotionstocksecrets.com/octagon-88-resources-octx-the-complete-ugly-truth/

[Dr Swade]

Don't waste your time and energy and MONEY!...octx...broken dreams.... Run to 11 will never come again.

[skrilldavy]

Was it the one with the stock photo of "core samples"?

Also, their "corporate logo" is pretty sad. Obviously someone spent about 30 minutes on microsoft paint.

[davidsson10]

The Latest: http://seekingalpha.com/article/1644162-octagon88-a-zero-in-any-book