Here is a kink in that game that Clarke is involved with behind the scenes:
+>>>WOGI: News Out - World Oil Group Inc. Has Canceled All Consulting Agreements and Is Reducing Its Outstanding Shares by 150 Million
Baystreet.ca "Standard Equities Feed"
Debary, FL / ACCESSWIRE / January 5, 2015 /
World Oil Group, Inc. (OTC PINK: WOGI) effective January 2, 2015 WOGI has canceled all consulting agreements. The decision was made to cancel the agreement because the parties were unable to perform the services outlined in the agreement. Thereby, WOGI was not receiving fair value for in exchange for the contract.
The cancelation will save WOGI $15,000 per month and 1 million stock options a quarter that where to begin on July 1, 2015 . The Company has not paid anything towards the consulting agreement and has no intention of paying anything.
Nathan Hall has returned 150 million shares of his restricted Common shares back to the Company in exchange for a Work Performance Agreement that will allow him to earn the 150 million shares based on his performance.
Mr. Hall Stated "I am new to the public world, but I am learning quickly. After speaking with several people, I learned the reason I was issued so many shares and who really benefited from so many shares being Outstanding.
I made the decision to return the shares in exchange for me performing my duties as the CEO of the Company. I understand the frustration of the shareholders of WOGI, who had to endure 2 years of the previous management promising and not performing and then getting paid for it. I lead from the front and by example, I am willing to allow my performance to speak for itself and tie my equity to verifiable results outline below that will benefit all the shareholders."
Outline of the Work Performance Agreement
1. Hall shall be entitled to receive 25 million shares of restricted Common stock once drilling has been completed on no less the 15 wells.
2. Hall shall be entitled to receive 25 million shares of restricted Common stock once Fracking has been completed on the first 5 wells.
3. Hall shall be entitled to receive 25 million shares of restricted Common stock once pumping is operational and collectively producing 30bpd of oil.
4. Hall shall be entitled to receive 75 million shares of restricted Common stock as soon as WOGI reaches item numbers 1,2 &3 collectively or 100 barrels of oil per week collectively verifiable by receipt of oil sold aka "Run Ticket(s)".
Once these items have been completed as described, Mr. Hall would be entitled to receive all of his 150 million shares of Common stock back.
WOGI will also take measures to retrieve the balance of the shares or portion thereof Mr. Clarke walked away with from the transaction. In fact last week, after communicating with the transfer agent the Company was able to place a restriction back on a portion of shares and keep them out of the market. WOGI has come to know by the shareholders list approximately 4 million shares have been sold during the September through December time frame and believe this is why the value has eroded during this time.
