Liberty Petroleum Corp. (fka LBPE)

[AAsuited]

LBPE appears to also supply 40 gas stations in the Philadelphia area according to an April 22, 2006 article. The article was about gas stations running out of fuel due to being required to adapt to ethanol fuel mixes. The person commenting for LBPE was Wayne Hummel. Not sure if Hummel is CEO or VP, but must be high on the corp. ladder to speak on behalf for LBPE.

Also caught a 1997 lawsuit article against LBPE, Hogan Energy, Willaim Hogan, and Carl Roberts. For the various violations of "unplugged wells" LBPE was fined about 1.2 mil and Hogan Energy was fined about 600k. The dispute was about who was responsible for complying with environmental New York laws during certain decades after LBPE bought those 60 oil wells.

This would explain why LBPE is sitting at pennies in 2006. The violation was unintentional by LBPE and likely hurt the company for some time. With the high price of oil and gas, I am sure LBPE has paid off this fine by now. Otherwise how could LBPE buy oil leases in the Rocky Mountains and Nevada?