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This Initial Decision revokes the registrations of the registered securities of Pro-Tech Industries, Inc. (WMNS)
http://www.sec.gov/alj/aljdec/2014/id612cff.pdf
WMNS SEC Suspension:
http://www.sec.gov/litigation/suspensions/2014/34-72236.pdf
Order:
http://www.sec.gov/litigation/suspensions/2014/34-72236-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2014/34-72237.pdf
What happens to all those wells that were seeing better results?We did have assets when he died?Someone knows what happened,who?
It was all a scam.
The CEO committed suicide.
I have been here since 2010.They had great properties,and the plan to open old wells with new technology.This to me was a great plan.But what is the status of the properties and other assets.Did they loose it,a company cant just stop and go home.Someone knows whats the story.How do we fish them out?Can we hire a private eye?I am good for a $100
$wmns is going to bust out...not sure what is going on but somebody has been buying shares!
Someone tell me what happened to all the properties.Frack solve.Was it resold under another name?You just dont walk away with no comments or answers.Who was left when Fisher died.WTF kind of people just up and leave,we are people too and still want a life.This is how his family leaves his reputation.Now Fisher legacy goes down as a looser and a thief.I guess nobody gives a shit.I hope his friends and family can remember how they screwed up many people life.
surprised this isn't Triple Zero already.
jmo
After seeing Bourne Idenity yesterday, and other books on government wacking scientists... It could've been a disgrunted shareholder who for example carries out NSD's (national security directives)...
I'm soo glad I finally gave up and listened to EarnstDD and Atlanta1, and facts not going up after approved Frac-Solv and not deals.... it hurts since I could've 3X'd my money last Summer waiting on Frac-Solv...
With it being another company that made Frac-solv... could there still be hope for this company if the contract to market it is still valid? (or was that a Fischer con too?)
I'm just glad to see some action here on this board, even if it's just amongst the members! I'm going to use all the worthless Westmont paper to insulate the walls of my house this winter....
I don't think you understand.
THE COMPANY IS A FRAUD.
Put the CEO behind you. Wait one week. We will see if we touch .004 or not.
yes. but he was a liar and a fraudster..
and a coward, for taking the easy way out instead of facing the consequences of his actions like a man.
It is terrible what happen to the CEO.
dude, the company is a total fraud.
the ceo committed suicide because he was about to be exposed.
don't throw away your money. if you are going to roll the dice, take a gamble on a real company.
Just look at the charts. This one is looking like it just might make it up somewhat.
yes - you & I know that. I was asking the poster who is expecting the stock to bounce.
It's worthless...
do you know anything about this company?
Might see.004 next week.
oh really? what do you see that makes you think a bounce is coming?
I see a bounce coming... Something interesting is brewing i think. I could be wrong
Hard to argue with that...I've got 500 worthless shares myself that I keep as inspiration to do better next time!
WMNS ... dead after Fischer messed with it.
jmo
WMNS ... another Fischer tragedy.
jmo
Agreed ... another Fischer Dump Scam.
jmo
I got my haircut on this one some time ago. It's starting to grow back now. No big deal. Win some. Lose some. Thanks for asking!
To thine own self be true
anybody figure out that this stock is a figment of your imagination? There is and has never been anything here but a Doc. fisher selling the new share fishermen under the table!
Same Fischer but no proof he is dead.
jmo
Would that be the same Fischer mentioned in post 2864 & 2865?
One day at a time
Fischer is a con man imo.
He has diluted every company he ever owned to NO BID.
jmo
I'm gonna guess that your not a big fan of WMNS huh? Any particular reason?
One day at a time
Heading to Triple zero's soon enough.
jmo
Really not fun to watch these cheap shares being given away when I don't have any powder to burn.
One day at a time
Little more action in this sleepy stock the last couple days. The PPS could use a boost.
One day at a time
Confirmed with the King County Medical Examiner today.
Bruce E. Fischer committed suicide by helium asphyxiation.
Feel free to call them and confirm for yourselves.
King County Medical Examiner: 206-731-3232
Web site: http://www.kingcounty.gov/healthservices/health/examiner.aspx
Bruce Fischer committed suicide today.
I did not have time to confirm with the King County Medical examiner, I will tomorrow and confirm this report.
WMNS is a sleepy little stock so far this year. Tried to buy at .0045 today. Someone jumped over me by a tick. They didn't get a fill either. I think I'll play leapfrog tomorrow and add a little more here. Oil prices are staying high. Should be good for the small oil guys too.
One day at a time
Hmmmmm??? I guess your "patient" has run thin?
I have not spoken with anyone since April/February.
Bellevue office is closed and communication stopped after i demanded my investment back.
Been keeping it on the down low for a bit to let things calm down.
The Hammer will drop soon on Fischer's head.
Bruce Fischer's cell number: 425-354-8282
Glenn Mcquiston's cell number: 206-351-2259
Fischer has NOTHING ... so he Massively Dilutes all of the stocks he becomes associated with.
jmo
It seems that almost or maybe everything that Fischer touches in the penny stock world turns to dust for it's noble wanting and wanting to believe shareholders. You'd think it was part of his plan or scam if that is what it is. I still think the guy belongs behind bars.
Is there something you know that I don't? Care to share?
To thine own self be true
More paint to start the day. This Co. is not worth anything.
I was talking about the 175 share trade at the open. PPS seems to moving up a little now. That couldn't be a bad thing.
To thine own self be true
Only a $70 trade ... pretty sad actually.
jmo
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Westmont Resources, Inc.
1621 Freeway Drive
Suite 209
Mount Vernon, WA 98273
As of August 2,2010
Authorized Preferred Shares Class A : 10,000,000 Class B : 15,000,000 Authorized Common Shares 775,000,000 | Issued Preferred Shares Class A : 130,000 Class B : 1,000,000 Issued Common Shares 52,798,660 |
It would cost almost $5 million to drill one new well. For every 10 wells you drill, only 6 of them will produce oil. With similar funds this company will be able to rehabilitate 92 proven wells that are known to produce oil and natural gas. Therefore, they will have much lower startup costs, much less risk and will reach profitability much sooner. Technology, developed since these wells were abandoned, now indicates significantly more reserves and enables their extraction. The two senior-most executives of the Company are both from Pennsylvania and have extensive industry contacts there and have intimate knowledge of the unique local business culture. Therefore, they have a decided advantage over outsiders in locating the necessary existing wells with high oil and gas prospects and negotiating the leases for the same. For this reason the Company expects to successfully out maneuver others to secure the most desirable available leases. It is a niche market that through their industry contacts, business relationships, extensive research, study and planning they are uniquely positioned for success.
While the Company’s focus is to “roll-up” the low hanging lease fruits below and beyond the radar of the majors, they equally have concluded that, once they meet critical mass, their most likely exit strategy will be a major. That’s where the Company sees an opportunity to profit. Instead of trying to compete with the major oil companies head on they plan to position the Company as an acquisition candidate when the timing is right for both parties. Simultaneously, the major oil companies offer a profitable exit strategy for investors.
A number of small companies have successfully followed this strategy of buying up leases too small for the majors. These are then aggregated into a larger “rolled up” pool, with the resulting pool sold to the majors at a significantly higher multiple and at a significantly higher profit. During the initial Phase One, the Company expects to produce approximately six barrels of oil and 75 MCF of natural gas each day from each of its 92 Wells, for a total of 552 barrels of oil and 6,900 MCF of natural gas per day. While these are very conservative figures, the profits are significant. Consider that several major oil Companies have done test drillings on land featuring the same geological structure within ¼ mile of the Company’s lease holdings. These test wells are producing, on average, 22 barrels of oil and 300 MCF per day.
Westmont Resources Directs Accounting Firm to Perform Audit on 92 Well Acquisition in the Chattanooga Basin; Westmont's Management Currently Estimates the Potential and Probable Reserves Associated With This Acquisition to be Valued in Excess of $200 Million
SEATTLE, July 29, 2010 /PRNewswire via COMTEX/ -- Westmont Resources, Inc. (OTC Bulletin Board: WMNS) ("Westmont"), is pleased to announce it is directing its auditors, Malone & Bailey (M&B) of Houston Texas, to perform an audit of Westmont's previously announced acquisition of 92 oil and gas wells in the Chattanooga Basin. Westmont's management currently estimates the potential and probable reserves associated with this acquisition to be valued in excess of $200 million.
Westmont is focused on "wringing value from" long-lived, low risk natural gas and oil properties. Currently the company's efforts are primarily in the emerging Marcellus and Chattanooga Shale Plays in the Appalachian Basin and in the vicinity of other major oil company discovery wells. "Our current operations are centered on taking existing properties from others and creating more value from them for our shareholders. We specialize in applying cutting-edge technology to squeeze more oil out of mature basins. Its our core competence," said Westmont's incoming President, Glenn McQuiston
Malone & Bailey, based in Houston, is one of the most experienced public accounting firms in the oil & gas sector and has extensive experience and expertise with publicly traded companies. The firm is registered with the Public Company Accounting Oversight Board and is an independent member firm associated TIAG and MSNA.
The firm will perform their work under the direction of Marcie Corbin, Westmont's Vice President for Corporate Development and Finance. "Both Marcie and I are very happy to have an experienced and very qualified firm to complete the audit of our acquisition of 92 wells in the Marcellus/Chattanooga shale basin," said Mr. McQuiston. "We look forward to moving forward with our business integration and planned growth strategy of acquiring additional wells after timely completion of this work.
Ms. Corbin added: "An important component is the audit by Malone & Bailey which will include this transaction and enable us to account for the significant reserves which the management expect to be valued in excess of $200 million."
Westmont Resources Completes Letter of Intent to Acquire 1,800 Acres of Natural Gas Leases in the Marcellus Shale Play with 60 Existing Wells and Potential Reserves Associated With This Acquisition in Excess of $54 Million
BELLEVUE, Wash., Aug 02, 2010 /PRNewswire via COMTEX/ -- Westmont Resources Inc. (OTC Bulletin Board: WMNS) today announced that they have completed an agreement that will extend Westmont's reach and resources with the acquisition of 1,800 acres and 60 existing wells in the Marcellus Shale region in the southwest tier of Pennsylvania.
Preliminary estimates indicate that the value of the reserves associated with these 1,800 lease acres in Westmoreland County of Western Pennsylvania from the existing 60 wells located on the leases could amount to nearly $36 million. Westmont believes that with additional exploration an additional 30 wells could be drilled on the leased acreage increasing the potential reserves for the entire project by an estimated $18 million, or a combined estimated value for the new Pennsylvania leases of $54 million USD. This is based on the company's review of other assessments and production in the immediate area.
Westmont Resources has been working to obtain oil and gas leases in the Marcellus and Chattanooga Shale Region. Representing roughly 61,000 square miles, stretches from Upper New York, through western Pennsylvania and into eastern Ohio and most of Kentucky and West Virginia and parts of Virginia and Eastern Tennessee. It is believed one of the richest natural gas fields in the World. In early 2008, geoscientists at Penn State Univ, and SUNY Fredonia estimated that the Marcellus & Chattanooga contains more than 500 trillion cubic feet of natural gas. These reserves represent more than 2 times the current reserves located in Saudi Arabia. The shale contains largely untapped natural gas reserves, and its proximity to the high-demand markets along the East Coast makes it an attractive target for energy development.
Westmont's portfolio, in addition to this most recent acquisition in the Pennsylvania Marcellus Shale region, includes development of two significant blocks in the Chattanooga Shale region in northern Tennessee consisting of 92 wells, and an additional 1,650 lease acres in West Virginia. "Our specialty is applying cutting-edge technology in order to 'wring additional value from' long-lived, low risk natural gas and oil properties - To squeeze more oil out of mature basins. These new Pennsylvania assets are an excellent fit with our existing core areas and will expand our portfolio," said Glenn McQuiston, Westmont's President.
Westmont Resources Inc has initiated a regional geologic study to identify prime leasehold areas along with the identification of passed up production in existing wells. Westmont Resources Inc Corp has identified several acquisition targets operating in the Cumberland Plateau region of Tennessee. The Company has completed the acquisition on 92 under developed natural gas and oil wells as an initial entry into the region.
Many of Westmont Resources Inc’s acquisition targets are wells and leases not adequately served by pipelines. By having the capability to build its own gas gathering systems and pipelines, Westmont Resources Inc is in a position to acquire and exploit shut-in gas wells and those wells whose profitability has declined due to interrupted service.
Additionally, revenue is generated by transporting gas to market for other producers maximizing production with a functioning gathering system in place, Westmont Resources Inc will be positioned to maximize production of existing wells by proper engineering practices such as well stimulation in the form of nitrogen or acid fracturing.
The leaseholds property owned by Westmont Resources Inc, are located in Scott and Morgan Counties in Tennessee, which is comprised of 92 independent leasehold permits. The independent leasehold permits are being recorded with the County and the Bureau of Land Management.
Initially, Westmont Resources Inc is focusing its attention on the Appalachian Basin in Tennessee.Tennessee's Appalachian Basin is a topographic feature capped with approximately 600 feet of Pennsylvania Sandstone. Oil and gas production from wells in Westmont Resources Inc's area of interest comes from the Monteagle Limestone, Fort Payne Limestone, Chattanooga Shale, Trenton-Black River and Know groups.
Monteagle Limestone - Consisting of 200-250 feet of massive limestone with shale beds. It is consistent oil and gas producing formation. The average barrels of recoverable reserves per well is in the 20,000 barrels range. However, many Monteagle gas wells have produced 5x this amount of gas due to natural fracturing. Other Monteagle gas wells in the area are still producing commercial quantities of gas after 30 years.
Fort Payne Limestone - This formation consists of massive limestone with considerable chert. The thickness is 10 to 150 feet. It is a very prolific producer of oil with a small amount of associated gas cap. The generally accepted standard for primarily recoverable reserves from a Fort Payne well is 50,000 to 60,000 barrels, although some wells have produced more than 200,000 barrels and are still producing.
Chattanooga Shale - This formation is usually 30 to 60 feet thick and lies just below the Fort Payne.To the north, this shale thickens to several thousand feet and is the source of the majority of gas production in eastern Kentucky. It is characterized by relative low flow rates with large recoverable reserves over a long period of time. New stimulation techniques and high natural gas prices are combining to make shale an attractive target.
Trenton, Sunnybrook, Stones River - These formations consist of thick-bedded limestone with minor inter-bedded shales. The combined thickness can be up to 1,500 feet. These formations are the major source of oil to the west, where wells of up to 1,700 barres of oil a day have been discovered at depths of less than 2,000 feet. In the Basin, these formations have not been tested. Recent increases in oil prices has sparked interest in considering drilling deeper to test these formation.
Knox - This formation is a massive, dolomitic limestone, the thickness is in excess of 2,000 feet. There is very limited oil and gas production from Knox wells in this area of interest. However, the Knox produces oil from shallower depths to the West and gas and oil from deeper depths to the East. This makes it interesting for future exploration in this area.
Recently the company acquired a 70% working interest in 92 oil and gas wells covering more than 30,000 acres. These are wells that were profitable, proven oil producers back in the 1940's and 1950's, before the remaining oil became too costly and difficult to extract and they were abandoned. In addition, most of these wells suspended drilling operations well before the now known pay zones which sit on top of and include the Chattanooga and Marcellus Shale deposits. Extraction technology and the price of oil have both advanced quite a bit since then and now there’s money to be made from these previously abandoned wells. Two hundred feet used to be a common depth to drill in this region. Drilling to 2,500ft and well beyond is common today, but, was just not practical then while that is the average depth of the majority of this region’s oil and natural gas.
In fact, today, drilling to a depth of 25,000 ft is not uncommon and oil is no longer $5.00 a barrel. The result is that those heretofore old dried up wells have become gold mines, but still too marginal for the majors to focus their massive operations which require massive productions and extractions to justify their involvement. They demand the potential of tens of thousands of BBL/Day to justify their sinking pipe.
The Appalachian Basin is America's oldest producing basin. Renewed interest in this region has led to the discovery of other production opportunities. Historically most of the drilling has been done at relatively very shallow depths. Over the last several year’s deeper production zones have been discovered, such as the Chattanooga and Marcellus Shales. There is reportedly strong evidence of major production zones deeper beneath the Marcellus Shale of even greater potential yields.
Place all wells back into production at current well depth, by repairing well equipment, lines and cleaning well casing - estimated production levels 25 to 40 Mcf per well per day and 3 barrels of oil per day.
Redevelop all wells to an estimated 1,500-2,000 ft vertical depth to take advantage of the three known pay zones in the region (Monteagle Limestone; Fort Payne Limestone; Chattanooga Shale). Estimated production levels are anticipated to increase to 75 to 120 Mcf per well per day and in excess of 6 barrels of oil per day. These levels have been demonstrated in several completed vertical wells in the area.
Redevelop all wells using the most advanced technologies in vertical and horizontal drilling linked with modern fracturing methods to take advantage of the higher yielding Chattanooga Shale zones. Estimated production levels are anticipated to increase to 150 to 300 Mcf per well per day and 9 barrels of oil per day.
The Williston Basin is estimated to contain between 271 billion and 503 billion barrels of oil identified as the "Bakken". There is a high probability that a second major play may be under the Bakken identified as the "Second Bakken" or "Three Forks Spanish" formation. The Company has signed a letter of intent to Joint Venture with a successful operational explorational Company that has 65,000 acres under lease and over 30 years of drilling experience.
The Company recently signed a letter of intent to Joint Venture within Eddy County, New Mexico. The Company's JV partner has access to 7,800 acres of leased land for this exploration and development. The project potential is currently estimated at 3 MMBbls of oil equivalent.
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