California Oil & Gas (fka COGC)

[J-Rhino]

Sales force shaky here.

[findsdot]

Why do you say that ?

[Land Agent]

TARGET -- 50 cents -- DEC. ONE -- IMHO --

[findsdot]

Something is goin on & check the volume..

[kndiman]

What's this? Do I hear a faint heartbeat?? .106 and some volume....but still no news.

[findsdot]

Anyone know about a reverse split in the future ??

[futrcash]

Company remains quiet...
Although the California jv is scheduled to actually commence drilling sometime this summer.

Best bet to get a pulse of the company is to call John Mcleod.
His phone# is listed on the website.

futrcash

[m177]

anything brewing on this one?

[findsdot]

Whats going on here, no news in months ??

[futrcash]

Contact Chevron...they're driving the boat.
Although I did have a conversation with DBRM's CFO yesterday,and he expected the meeting to occur either the last week of may or the first week of June.

The hardest part is scheduling Chevron's participation.

You know how those International NYSE companies are.

btw they've got over 20 targets shown on the 3d seismic!

This is going to be one of the best plays of the summer!

futrcash

[Land Agent]

May 22nd already -- WHEN ????

[eatmenasdaq]

Here's your answer.

On or about April 1 2008, the Company received a petition filed by Daybreak Oil & Gas, Inc. in the Nineteenth Judicial District Court of the State of Louisiana, Parish of East Baton Rouge, Suit Number 562933, Division SEC.24. In that petition, Daybreak Oil & Gas alleges that the Company owes Daybreak Oil & Gas the amount of $587,464.55, being 25% of the cost of the #60 Haas-Hirsch well in the Krotz Springs Prospect, as the result of our breach of a Joint Operating Agreement in which we agreed to pay 25% of the costs associated with the well. Daybreak Oil & Gas is also seeking interest on the amounts alleged owing plus a reasonable attorneys fee and the costs of the action. Although the Company believes that California Oil & Gas Corporation does have defences to this action, The Company is currently seeking the advice of an attorney licensed to practice law in the State of Louisiana. As of February 29, 2008 the amount of the asserted damages (less interest and attorney fees) has been accrued by the Company. Ultimately, if litigation ensues and judgement requiring immediate payment results, there could be a significant adverse impact on the Company’s operations.

One positive is the Owner sunk $105,000 into 700,000 units at .15 cents per unit. Giving him 700,000 shares plus 700,000 warrants to buy stock at .20 cents. There might be a run on this so he can cash out.

Good and bad thats why the .10 cents a share. JMO.

[futrcash]

As shareholders of COGC

We're pretty much dependent on John McLEOD's performance

JOHN G.F. McLEOD, BSc., P.Eng.

--------------------------------------------------------------------------------

SUMMARY

Over 30 years of varied Resource Extraction experience with particular emphasis on corporate management:
International oil and gas management -exploration and development .establishing and maintaining relations with investors and the financial community
Experienced in all types of oil and gas projects, with certain specialties - secondary and tertiary recovery, gas condensate, sour gas, heavy oil, cold weather and remote operations. Application of this expertise to international projects.
building a company through Exploration and Development, acquisitions and mergers
team building in a corporate environment
Specific areas of expertise include:

corporate and project economics ~ corporate management
joint venture and project development
international and domestic oil and gas operations .production and reservoir engineering .drilling
co-ordination of all aspects associated with management of a domestic or international oil and gas exploration, development and production company.
PERSONAL

Canadian citizen. Born on November 18, 1946 in Saint John, New Brunswick. Married with four children. Fluent in English and French.
EDUCATION

College Militaire Royal de St. Jean, Quebec Engineering 1964 -1967.
BSc. Mechanical Engineering, 1970, University of New Brunswick, Fredericton, New Brunswick.
Numerous company and industry technical, supervisory and management courses.
WORK EXPERIENCE

ONCO Petroleum Inc. 2005
President, CEO
Private Ontario company reactivating the Tilbury gas field and Michigan reef oil and gas production.


Rally Energy Corp. 2001 to 2005
President, CEO, Director, Vice President-Operations
TSX Venture Exchange listed company initially with a large acreage position on Prince Edward Island. Exploration project for conventional gas initially, with Coal Bed Methane and deeper targets to follow.
Acquired Scimitar Hydrocarbons in 2002 -Issaran Heavy Oilfield in Egypt and Gas Condensate project in Pakistan.
Staffed the Egyptian operation, increased production 4 fold, remapped the existing pool (558 million barrels in place), raised equity for a continuous drilling program, implemented 2 thermal (steam) recovery pilots. Farmed out the Pakistan project for a carried interest in a subsequent large gas discovery.

Canoro Resources Inc. 2000 to 2001
President, CEO, Director
CDNX listed company with concessions in Assam State, India.

Mcleod Petroleum Consulting Ltd. 1985 to present
President
Management services to the international and domestic resource industry. Recent projects include:
Technical Advisor for African exploration and development projects. Technical Director for a company involved in exploration and oil production in Georgia, Former Soviet Union.
Negotiation of international oil concessions in Africa.
Project and corporate evaluation of international resource opportunities, both corporate and project specific.
Transition to operations for a major oilfield acquisition by a large energy trust.

Creative Energy Power Ventures Corp. 1999 to present
President
Development of gas to electricity projects, domestic and international. Feasibility, finance, construction and operation of Independent Power Projects in Canada utilizing biomass as fuel source.

Constellation Oil & Gas Company 1993 to 1998
President and Chief Executive Officer
Junior Alberta oil and gas company

Arakis Energy Corporation 1995 -1997
President and Chief Executive Officer
Advanced the Sudan Petroleum Project by raising $148MM and formed an international consortium to undertake the $1+ Billion project. Talisman acquired project now producing 250,000 barrels of oil per day. Operations in Oman and Papua New Guinea.

State Petroleum Corporation
Vice-President and Chief Operating Officer 1995 -1997
Project Director- Sudan Project 1991 -1995
Responsible for all aspects of $US 750,000,000 oil exploration and development project in Sudan, from initial access to the remote field location, through exploration and drilling, facility design and design of a 1500 km 610 mm diameter oil export pipeline and tanker loading terminal.

Pengrowth Gas Corporation 1992 through 1995
Vice-President Operations
Grew energy trust from $9 million to $300 million by acquiring producing oil and gas properties in Canada.

Sugar Creek Oil & Gas Inc. June 1990 to November 1991
Executive Vice-President and Director
Following the merger of Moreland Oil & Gas Ltd. with Sugar Creek, was pat of a three man management team with specific responsibility for the operations of the company, including drilling, production, marketing, reservoir engineering, partner relations, government approvals, facility construction, etc.

Moreland Oil & Gas Ltd. November 1986 to May 1990
President and Director
Responsible for all the operations and engineering for the company, and jointly responsible, with Roger Hume, VP Exploration for the corporate growth of the company since its initiation as a junior capital pool company in 1987.

AMH Group Ltd. November 1985 to May 1990
President and Director
Responsible for reservoir engineering projects undertaken by the company, which include the following:
project: monitor for the Canadian International Development Agency for the China Petroleum Development Technical Co-operation Project
a review of the engineering and economic parameters of a large sour gas field and gas plant in southern Alberta
a review of the potential gas production offshore Ghana
an engineering review on the exploration potential of the Suakin structure in the Sudanese Red Sea.

ICG Resources 1985
Vice-President Operations


AMOCO Canada Petroleum Co. Ltd. January 1985 -February 1985
District Superintendent -Calgary, Alberta
Responsible for Crossfield District
East Crossfield field and sour gas plant .West Whitecourt sour gas plant
Ricinus area oil and gas industry
150 staff in field operations, plants, engineering, drilling administration
Chief Engineer, Calgary, Alberta January 1981 to December 1984

Responsible for career planning, salary recommendations, recruiting, training and engineering quality for 270 engineers and technologists. .Directly supervised groups of technical specialists in Enhanced oil
Recovery, plant process Design, Mechanical Equipment Design, Heavy Oil (combustion and steam flood) Reservoir Engineering, Consulting and Government negotiations
Performed as technical liaison to Amoco Research Centre (Production Research Advisory Committee) and other Amoco offices
Responsible for the implementation and utilization of new technology in the Amoco Canada organization.
Division Engineer -Calgary, Alberta October 1978 to December 1980

Managed reservoir engineering for Southwest Alberta supervised 20 engineers and technologists.
Active in the West Pembina D-2 play in which Amoco was in the first to install a hydrocarbon miscible flood, conducted unitization and partner negotiations, participated in the design and approval of three non-operated vertical miscible floods, developed depletion strategies for waterflood and primary pools and handled Alberta Energy Resources Conservation Board applications and hearings.
Senior Staff Petroleum Engineer -Tulsa, Oklahoma August 1977 to September 1978

Studied with the aid of computer models the effect of varying solvent:water ratios in horizontal hydrocarbon miscible flooding, for particular application to the South Swan Hills Unit flood, Alberta.
Area Engineer -Drayton Valley, Alberta November 1975 to August 1977

Responsible for all engineering activities in the Pembina Area which included drilling, workovers, oil and gas production facilities, waterfloods, miscible flood, construction, measurement and automation systems. The major oil production in the area is from the Pembina Cardium which is a very waxy crude.

Supervised 25 engineers and technologists from entry level to three to four years' experience. Formal and on-the-job training was a significant requirement of the position.
Assistant Area Engineer -Edmonton, Alberta September 1974 to November 1985

Reporting to the Area Engineer, responsible for all production and operational engineering associated with the South Swan Hills Unit. This included a large secondary horizontal hydrocarbon miscible flood and a high capacity mature waterflood. In this position, supervised 15 entry level engineers and relatively experienced technologists.
Reservoir Engineer -Calgary, Alberta September 1972 to August 1984

Responsible for head office production and reservoir engineering associated w'ith the Nipisi Gilwood Unit No.1, a high capacity partially developed waterflood in north central Alberta.
Completed a 3-phase, two dimensional computer model study of the Nipisi Unit which resulted in significant changes to waterflood operations and injection patterns.
Production Engineer- Drayton Valley, Alberta June 1971 to August 1972

Responsible for production Pembina Cardium waterfloods. and operations engineering on several completed major studies on four waterfloods, an existing hydrocarbon miscible flood and on hydraulic fracturing techniques. Recommended injection pattern changes for Pembina J Lease which resulted in significant production improvement.
Production Engineer- Odessa, Texas June 1970 to May 1971

Responsible for operations and production engineering for two San Andreas waterfloods.
Completed major work on scale clean out treatments, injection well profiling and pressure transient analysis.
Petroleum Engineer (JG) (Temporary) -Drayton Valley, Alberta Summer 1979

Reported on an extensive field testing program for new equipment.
Designed, recommended and obtained approval construction of 2 small water injection stations.
MEMBERSHIPS AND ASSOCIATIONS

Director

Heritage Oil Corporation (TSE)
Highview Resources Ltd. (TSX-V)
Tuscany Energy Ltd. (TSX-V)
Castle Rock Petroleum Ltd. (TSX-V)
Keeper Resources Inc. (TSX-V)
Association of Petroleum Engineers, Geologists and Geophysicists of Alberta

Elected Council Member in 1986 for a three year term
Former Chairman or Member of Enforcement and Tripartite Committees

Society of Petroleum Engineers

Canadian Institute of Mining and Metallurgy

Calgary Petroleum Club




futrcash

[copleybmt]

Why has this tanked from $1.90 to .10? Why is this the bottom or is it? Looking at an entry price?

[futrcash]

"More details will be released following partner meetings scheduled to occur in May."

http://money.cnn.com/news/newsfeeds/articles/prnewswire/200805011223PR_NEWS_USPR_____AQTH102.htm

futrcash

[futrcash]

The cryptic IMHO Prophet strikes again!lmao eom

[Land Agent]

DOWN it goes to 10 cents again -- NO OIL in sight yet -- IMHO --

[MWM]

.14 X .15 I hope she continues upward!

[futrcash]

Key quote from Daybreak's pr...

"I am excited that the East Slopes program is progressing as we now have the final seismic information and have begun to move from the prospect interpretation stage to the pre-drill stage. Depending on the timing of permit approvals, partner concurrence, and rig availability, it appears that initial drilling could begin as early as July. Permit restrictions in some areas dictate later drilling operations on prospects in the affected areas. More details will be released following partner meetings scheduled to occur in May."

The underlying link provides access to Daybreak's website,where you can find information explaining how they qualify for an interest in the East Slopes shallow oilfield development by paying for initial drilling.

http://www.daybreakoilandgas.com.

futrcash

[futrcash]

COGC-- Time & Sales...as per Always the shorter paints the tape @ eod
Price Size Exch Time
0.13 1100 OBB 15:06:45
0.14 1000 OBB 13:12:40
0.14 5000 OBB 12:53:40
0.14 4500 OBB 12:46:39
0.14 1000 OBB 12:30:50
0.14 5000 OBB 12:05:05
0.14 20000 OBB 11:51:50
0.14 25000 OBB 11:51:27
0.14 5000 OBB 11:51:22
0.14 5000 OBB 11:51:03
0.15 1000 OBB 11:49:24
0.14 5000 OBB 11:48:30
0.15 9800 OBB 11:47:56
0.15 200 OBB 11:47:49
0.14 5000 OBB 11:47:03
0.14 25000 OBB 11:46:39
0.14 10000 OBB 11:45:48
0.15 10000 OBB 11:45:48
0.14 25000 OBB 11:44:47
0.165 9200 OBB 11:44:08
0.168 28000 OBB 11:42:48
0.165 4000 OBB 11:42:48
0.169 19205 OBB 11:42:13
0.169 10000 OBB 11:41:23
0.17 5000 OBB 11:37:02
0.16 5000 OBB 11:36:55
0.16 20000 OBB 11:29:17
0.16 10000 OBB 11:28:33
0.16 20000 OBB 11:27:35
0.16 25000 OBB 11:25:47







futrcash

[MWM]

Thanks! I'm in!

[futrcash]

COGC is back in play!
Primarily as a result of DBRM's announcement yesterday with regards to receiving the cash they need to participate in the east field development.

James Mcleod's wife,he's the ceo president,bought a 700k PP of COGC back in March @ .15.
So I'm thinking any buys down here are a great bargain.
Keep in mind that currently there are only~42,000,000 shares out,and Chevron will be operating the field.

One last note Mcleod has been trying to get to this point for years 3-4,and it looks as if we might be finally close to actually drilling the prospects.
imo

futrcash

[MWM]

Louisiana

At the South Krotz Springs project located in St. Landry Parish, gas sales from the Haas-Hirsch No. 1 well (formerly the began May 16, 2007.

The cost of the Krotz Springs well in Louisiana was significantly over budget. As a result, our share of the well drilling and completion costs increased from the original estimate of $1,000,000 to $2,277,058. We have paid $1,791,462 of this amount to the operator and $485,596 remains outstanding as at February 29, 2008. The operator has demanded payment of the balance. We do not currently have the resources available to pay the operator the balance due and we assigned our share of revenue from the well to the operator to reduce the outstanding amount owing. The operator has recently filed a lawsuit in State Court in Louisiana to recover the balance due. This lawsuit is discussed in more detail in the section of this Quarterly Report on Form 10-QSB, titled “Legal Proceedings”, beginning at page 20, below.

The well is currently producing. For the period December 2007 through February 2008 the revenues from this well, net of royalty, were $41,043. We believe that there will be no activity at Krotz Springs during the next 12 months. We have written down our investment in Krotz Springs by $2,037,000 as at November 30, 2007.

Our “E” project in Louisiana involves the potential exploration of a subterranean structure. Current operations involve leasing of acreage over the structure that our partners believe may be prospective for oil, gas and/or condensate. After leasing is completed, we expect that our partners will consider acquisition of 3-D seismic data. If interpretation of the seismic data identifies prospective locations, exploration wells might be planned and drilled. We believe that it is unlikely that a well will be drilled during the 12 month period ending April 30, 2009. The project is currently on hold and we anticipate only minimal expenditures over the next 12 months.

[MWM]

On July 9, 2007 we, together with the other participants in the East Slopes project, entered into a seismic option farm-in agreement dated for reference June 21, 2007 with Chevron U.S.A. Inc. granting to Chevron an option to farm-in to a 50% interest in the East Slopes project if Chevron funded a High Definition 3-D Exploration Seismic Survey over a project area in the San Joaquin area of Southern California consisting of approximately 22,500 acres. The project area is comprised of 19,000 gross acres of mineral leaseholds to be contributed by our current partners and approximately 3,500 gross acres of mineral leaseholds contributed by Chevron, all of which has been subdivided into three prospect areas. Under the terms of the agreement, Chevron had the right, but was not obligated, to fund the high definition 3-D exploration seismic survey over the project area. The agreement provides that if Chevron chose to fund the survey (which they did), our company would act as the operator. The agreement also provides that if the survey was shot and the data are acquired, processed and delivered to the other parties to the agreement, Chevron will have earned 50% of the interest held by our partners in the 19,000 gross acres of mineral leaseholds contributed by them and our current partners would have the option to farm-in to a 50% interest in the 3,500 gross acres contributed to the project by Chevron by drilling four initial test wells on what all of our partners mutually agree to be the best exploration prospects within the seismic acquisition area. If this occurs, then our current partners as a group and Chevron will then each hold a 50% interest in the lands and wells. The agreement provides that our company would also be the operator for the purposes of drilling each of these four test wells. If after we have drilled these four test wells the parties decide to continue exploration in any of the prospect areas, Chevron will have the right, at its option, to become the operator in place of our company for the production phase. Beginning in mid-September, 2007, we began preliminary work on the 3-D seismic project and data acquisition began October 15, 2007. Field data acquisition for the 35.2 square mile seismic survey has been completed, the data have been processed and interpretation of the data is underway. With the exception of the 50% working interest recently acquired in 320 acres of leases in the Dyer Creek area, our company does not currently own any interest in this Eastern Slopes project. We have previously entered into a farm-in agreement with our current partners that gives us the ability to earn an interest. Under this agreement, and following interpretation of the seismic data derived from the High Definition 3-D Exploration Seismic Survey, we will have the option to earn a 12.5% interest (including recovery of 200% of costs) in the seismic area leases and wells by paying 25% of the cost of three wells in each of the three prospect areas covered by the seismic survey.

Under the farm-in agreement with Chevron, Chevron has a ‘call’ right to purchase any oil, gas or other hydrocarbons produced under the terms of the agreement at posted, competitive pricing.

We anticipate that we will spend approximately $1 million in an effort to earn an interest in the East Slopes project over the next 12 months.

In the North project, basic exploration techniques have identified an area that could be prospective for shallow oil production. Over the next 12 months we plan to continue our geologic analysis of the area, the acquisition of oil and gas leases in areas considered prospective, and acquisition of 2-D and 3-D seismic data in anticipation of beginning exploratory drilling. We anticipate that we will spend approximately $1,500,000 on this project over the next 12 months.

Our company, in partnership with Consolidated Beacon Resources Ltd. (TSX-V:KBC-V), a Canadian public company, acquired from third parties a 50% interest in 320 acres of oil and gas leases in each of the Dyer Creek and Southeast Edison fields in the San Joaquin Basin in California. The Dyer Creek acreage (50% working interest) is within the area covered by the 3-D seismic survey and is subject to the Chevron farm-in. The Southeast Edison leases (50% working interest) are outside all areas of mutual interest. Both fields were productive in the 1940’s and were abandoned.

We have executed a Letter of Intent with Consolidated Beacon Resources Ltd. to acquire its interests in the San Joaquin Basin, which include an approximately 10% interest in both the southern and northern areas, Consolidated Beacon’s 50% working interest in the 320 acre Dyer Creek parcel and 50% of their 50% interest in the 320 acre Southeast Edison parcel. Consideration is to be $1,250,000 ($575,000 cash and the remainder in shares of our common stock at a deemed price of $0.50 per share). This transaction is contingent on approval by Consolidated Beacon’s shareholders, the TSX Venture stock exchange, financing and other regulatory approval.

[MWM]

I guess I just found the connection in the last 10K...

On or about April 1 2008, the Company received a petition filed by Daybreak Oil & Gas, Inc. in the Nineteenth Judicial District Court of the State of Louisiana, Parish of East Baton Rouge, Suit Number 562933, Division SEC.24. In that petition, Daybreak Oil & Gas alleges that the Company owes Daybreak Oil & Gas the amount of $587,464.55, being 25% of the cost of the #60 Haas-Hirsch well in the Krotz Springs Prospect, as the result of our breach of a Joint Operating Agreement in which we agreed to pay 25% of the costs associated with the well. Daybreak Oil & Gas is also seeking interest on the amounts alleged owing plus a reasonable attorneys fee and the costs of the action. Although the Company believes that California Oil & Gas Corporation does have defences to this action, The Company is currently seeking the advice of an attorney licensed to practice law in the State of Louisiana. As of February 29, 2008 the amount of the asserted damages (less interest and attorney fees) has been accrued by the Company. Ultimately, if litigation ensues and judgement requiring immediate payment results, there could be a significant adverse impact on the Company’s operations.

[MWM]

San Joaquin connection...

California Oil & Gas Corp - Announces a Letter of Intent to acquire the California assets of Consolidated Beacon Resources Ltd.
OTCBB: 'COGC'
CALGARY, Jan. 24 /PRNewswire-FirstCall/ - California Oil & Gas Corporation (OTC.BB - COGC) ('COGC') has executed a Letter of Intent with Consolidated Beacon Resources Ltd. ('Beacon') to acquire the majority of their assets in the San Joaquin basin in Southern California for a combination of cash, COGC common shares and warrants.

This acquisition will increase COGC's interest in the Bakersfield area of the San Joaquin Basin. Included in the acquisition are interests in oil and gas leases within the 35.2 square mile seismic survey recently completed with partners in the East Slopes Project. There are additional leases in the East Slopes North Area as well as a portion of the additional acreage acquired jointly with COGC as announced November 20, 2007.

Total consideration to Beacon will be CDN$1,250,000 in a combination of cash, common shares, and warrants of COGC. The effective date of the proposed transaction is February 1, 2008, with closing anticipated March 10, 2008, or such other date as agreed by the parties. The offer is subject to approval by the regulatory authorities having jurisdiction, approval of the final Purchase and Sale Agreement by the boards of directors of both COGC and Beacon, and by the shareholders of Beacon.

[MWM]

Pretty nice volume cooming in over here...

[MWM]

Does DBRM and COGC have a connection? I see they both have interests in the San Joaquin Basin...


Daybreak Enters Into Agreement With Chevron U.S.A., Inc.
SPOKANE, Wash., July 12 /PRNewswire-FirstCall/ -- Daybreak Oil and Gas, Inc. (OTC Bulletin Board: DBRM.PK) ('Daybreak') a Washington Corporation, today announced a Seismic Option Farm-Out Agreement (the 'Agreement') with Chevron U.S.A., Inc. ('Chevron'). Under the terms of the agreement, Chevron will fund 100% of the cost of a 3-D seismic survey in the San Joaquin Basin in southern California.

Daybreak and its Partners (the 'Partners') and Chevron will contribute approximately 16,000 and 3,000 gross acres of mineral leases respectively for a 33 square mile high definition 3-D exploration seismic survey. After processing and interpretation of the seismic data, the Partners will drill 3 wells on mutually agreed prospects. The Partners as a group and Chevron will then each hold a 50% interest in the lands and wells.

The 3-D high definition survey will be the first modern data acquisition over the survey area. Drilling targets are highly porous and permeable sandstone reservoirs containing 15o API to 25o API crude oils at depths of 1,200 feet to 3,000 feet, and are therefore relatively inexpensive to drill.

It is expected that the seismic survey will commence in the third quarter of 2007.

Daybreak will retain a 25% interest in the seismic option lands with no further cost through completion of the seismic program, and will retain a 50% interest in its other oil and gas assets in California.

For information about Daybreak Oil and Gas, Inc., please contact:

[SureFire]

Daybreak Announces Amended Second Closing on Sale of Louisiana Oil and Gas Properties; Updates California Project

http://money.cnn.com/news/newsfeeds/articles/prnewswire/200805011223PR_NEWS_USPR_____AQTH102.htm

May 01, 2008: 12:23 PM EST


SPOKANE, Wash., May 1 /PRNewswire-FirstCall/ -- Daybreak Oil and Gas, Inc. (OTC Bulletin Board: DBRM) ("Daybreak" or the "Company"), a Washington corporation, today announced that the Company has completed the amended second closing on the sale of its Tuscaloosa Project properties located in Tensas and Franklin Parishes, Louisiana. On April 30, 2008, Daybreak received $500,000 in exchange for the transfer of 6.25% of the Company's original ownership interest in the properties. As reported previously, Daybreak received $2,000,000 on January 18, 2008, in exchange for 25% of its interest. Under terms of the original Purchase and Sale Agreement, Daybreak and the purchaser contemplated two separate closings for 100% of Daybreak's interests for a total purchase price of $8,000,000. As amended, the final closing in the amount of $5,500,000 for the balance of the Company's interest is scheduled to occur on or before May 31, 2008. This final closing will be subject to customary allowances.

Timothy Lindsey, President and Chief Executive Officer, commenting from Houston stated: "We are very pleased to continue to move forward toward finalizing the Louisiana property transaction. The purchaser is nearing completion of due diligence activities and record title determinations to complete the purchase process. Since announcing the sale of these properties in January, Daybreak has primarily focused on the California East Slopes Project. Final processed 3D seismic data has recently been received by all of the partners and preliminary interpretations indicate a number of potential prospect areas. The operator has begun the permitting process for approximately 12 possible drilling locations and is assessing rig availability. I am excited that the East Slopes program is progressing as we now have the final seismic information and have begun to move from the prospect interpretation stage to the pre-drill stage. Depending on the timing of permit approvals, partner concurrence, and rig availability, it appears that initial drilling could begin as early as July. Permit restrictions in some areas dictate later drilling operations on prospects in the affected areas. More details will be released following partner meetings scheduled to occur in May. The final closings on the Tuscaloosa property sale affords Daybreak the opportunity to capitalize on the current California project as well as the ability to selectively consider other projects which may provide future growth in shareholder value."

For more information about Daybreak Oil and Gas Inc., please visit its website at http://www.daybreakoilandgas.com.

"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995: Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained herein contains "forward-looking statements" which can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," "approximately," "likely," or "anticipates" or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE Daybreak Oil and Gas, Inc.

[findsdot]

Or DEAD beats..

[Land Agent]

IF the bad doesn't scare us -- the good certainly won't either -- BEST WISHES -- LAND --

[futrcash]

Every post of yours I've ever read had an implied slant of negativity!
Making your intentions most transparent.
IMVHO

futrcash

[Land Agent]

They must have tons of paperwork to complete to comply with CALIF regulations -- maybe take many more months for PERMITS from state and county and FEDS ???? -- The red tape on west oast must be horrendous -- IMHO --

[futrcash]

Perhaps the Primary reason COGC,with such a relatively low OS,and arguably excellent prospects,is trading at this level,is precisely that noone knows when they will commence drilling their Kern County leases.

futrcash

[Land Agent]

Does anyone know the scedule for when drilling commences ?? -- THANKS --

[futrcash]

As usual the shorter is painting the tape with tiny trades
Time & Sales
Price Size Exch Time
0.091 1000 OBB 12:45:31
0.10 10000 OBB 12:00:18
0.10 4000 OBB 12:00:03
0.10 650 OBB 11:58:56
0.11 10000 OBB 11:56:48
0.091 268 OBB 11:25:52
0.11 77000 OBB 09:55:52


futrcash

[futrcash]

COGC OS 40,888,471 as of 02/29/08...
Since then John Mcleod's wife purchased 700,000 @ .15 in a Private Placement.

futrcash

[futrcash]

If they finally start producing some of that Kern River Oil...The disputed half a million won't amount to a hill of beans.
imo

futrcash

[findit]

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=5875169-958-87225&type=sect&dcn=0001062993-08-001870

[SureFire]

Can you provide the link to this information?

TIA

[futrcash]

Looks to me they've got the needed $$ to start Drilling!
From today's 10Q

Mrs.Mcleod bought 700,000 restricted shares of COGC @ .15


CALIFORNIA OIL


--------------------------------------------------------------------------------

THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (“SUBSCRIPTION AGREEMENT”) RELATES TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT OR ANY U.S. STATE SECURITIES LAWS AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

Canadian Legend:

“UNLESS PERMITTED UNDER CANADIAN SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES MUST NOT TRADE THE SECURITIES IN CANADA BEFORE THE DATE THAT IS 4 MONTHS AND A DAY AFTER THE LATER OF (I) THE CLOSING DATE (AS DEFINED IN THIS SUBSCRIPTION AGREEMENT) AND (II) THE DATE THE ISSUER BECAME A REPORTING ISSUER IN ANY PROVINCE OR TERRITORY OF CANADA.”

SUBSCRIPTION AGREEMENT
(Canadian Accredited Investors Only)

TO: California Oil & Gas Corp. (the “Company”)
#260, 600 – 6th Avenue SW

Calgary, AB
T2P 0S5

Purchase of Units

1. Subscription

1.1 On the basis of the representations and warranties and subject to the terms and conditions set forth herein, Carol McLeod (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase 700,000 units (each a “Unit” and collectively the “Units”), with each Unit consisting of one share of the common stock of the Company (each a “Share”) and one-half of one non-transferable common share purchase warrant (each a “Warrant” and collectively the “Warrants”) at a price per Unit of USD $0.15 (such subscription and agreement to purchase being the “Subscription”), for an aggregate purchase price of USD$105,000 (the “Subscription Proceeds”). Each Warrant will entitle the holder to purchase one additional Share at a purchase price of $.20 for a period of 12 months from the Closing Date.

1.2 On the basis of the representations and warranties and subject to the terms and conditions set forth herein, the Company hereby irrevocably agrees to sell the Units to the Subscriber.

1.3 Subject to the terms hereof, the Subscription will be effective upon its acceptance by the Company.


--------------------------------------------------------------------------------


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Market Data powered by QuoteMedia, www.quotemedia.com, SEC filings by 10kWizard.

[findsdot]

Why doesn't Ryan Mulhern ever answer his # ??

[findit]

From 10Q released after the bell - California Oil & Gas Corporation


--------------------------------------------------------------------------------


On or about April 1 2008, the Company received a petition filed by Daybreak Oil & Gas, Inc. in the Nineteenth Judicial District Court of the State of Louisiana, Parish of East Baton Rouge, Suit Number 562933, Division SEC.24. In that petition, Daybreak Oil & Gas alleges that the Company owes Daybreak Oil & Gas the amount of $587,464.55, being 25% of the cost of the #60 Haas-Hirsch well in the Krotz Springs Prospect, as the result of our breach of a Joint Operating Agreement in which we agreed to pay 25% of the costs associated with the well. Daybreak Oil & Gas is also seeking interest on the amounts alleged owing plus a reasonable attorneys fee and the costs of the action. Although the Company believes that California Oil & Gas Corporation does have defences to this action, The Company is currently seeking the advice of an attorney licensed to practice law in the State of Louisiana. As of February 29, 2008 the amount of the asserted damages (less interest and attorney fees) has been accrued by the Company. Ultimately, if litigation ensues and judgement requiring immediate payment results, there could be a significant adverse impact on the Company’s operations.

[futrcash]

I've had several recent conversations with John McLeod as well.

Nothing was revealed other than that they're very confident about what the 3d seismic identified.

According to Mr.Mcleod, he wants to pr ,but the pr he wants to release has to be signed off on by Chevron,and thats not as straight forward as it might appear.

futrcash

[SureFire]

Like I thought, you didn't really call the company did you?

[westeffer]

Frankly, it's none of your business.

ignore

[SureFire]

Yep, pretty much... This period has been going on for quite some time now, so I was already expecting that we were probably out or coming out of it. During these periods, you will not see the company making any press releases.

That siad, by calling the number you provided, I just spoke with Mr. McLeod. I said that we haven't heard anything from the company in awhile and that I was wondering if things were moving along. He indicated that it takes time to get approvals sometimes but that things were looking really good and that we should be expecting PR very soon (not a word for word quote).

As for you having "called the number and talked to them during the past two weeks," how come you couldn't call it, again, now? Afraid of turning into a pumpkin? And, if you did talk to them, as you say, why not share the information, if any, with this board?

[westeffer]

I have called the number and talked to them during the past two weeks. Are you saying they don't answer the phone during the quiet period? That is the most ridiculous thing I have ever heard. Do you think they hide in a closet or under their desks during the quiet period?

[SureFire]

Correction: Obviously, if they DON NOT respond...

[SureFire]

Okay, so you want me to goto findsdot post and respond to his post instead? Just so you both get the idea that we're in a quiet period? Are you saying that by provided him the telephone number, you already know that someone will answer the phone? Why else would you provide him the number then? You can't call the number yourself? Obviously, if they respond to an email then they won't be answering any phone calls. It's called a "quiet" period. That is what I was trying to get across to you both.

The reason why, IMHO, the share price has taken such a beating in because the next PR will not only announce that drilling has commenced but that the company has raised funding for it's share of the drilling cost through shares issuance (sold more shares). Thus, share price dilution = share price reduction. One of the partners in this project with COGC is Daybreak (symbol: DBRM), just for your information. That co. was still kicking as of Mar. 28 (see PR), so I presume that COGC is also.