XUN ENERGY, INC. (XNRG)
MAJORITY OF THE INFORMATION ON THEIR WEBSITE IS OUTDATED AND INACCURATE
XUN OIL MARKETING~(XOM)~A XUN ENERGY DIVISION
A/S Per T/A = 15,000,000,000 a/o June 29, 2015
O/S Per T/A = 8,100,158,163 a/o June 29, 2015
Restricted Per T/A = 371,206,667 a/o June 29, 2015
Float Per OTC Markets = 7,903,708,500 a/o Jun 22, 2015
11/15/16--8K from XNRG on current situation and plans going forward:
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On November 15, 2016 we submitted an Offer of Settlement (the “ Offer of Settlement ” ) to the Securities and Exchange Commission (the “ SEC ” ) pursuant to Rule 240(a) of the Rules of Practice of the SEC with respect to administrative proceedings initiated against us by the SEC on November 2, 2016 (File No. 3-17659) pursuant to Section 12(j) of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ” ). In the Offer of Settlement, we consented to the entry of an order by the SEC (the “ Order ” ) finding that we had failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder because we had failed to file any periodic reports with the SEC since the period ended August 31, 2014 and further consented that the registration of our common stock under Section 12 of the Exchange Act be revoked pursuant to Section 12(j) of the Exchange Act.
We plan to, subject to completion of adequate financing or cash flow, re-register our common stock under Section 12(g) of the Exchange Act after the May 31, 2017 fiscal year end audit is completed, expected timeframe being September 2017, barring any delays.
Plan of Operation for Remaining Fiscal Year
During the timeframe leading up to our fiscal year end of May 31, 2017, subject to adequate financing or cash flow, we plan to complete or initiate the following:
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Close on a financing transaction that is currently in progress.
Re-instate the Company in the State of Nevada.
Close on two of four ULSD (Ultra Low Sulphur Diesel) physical commodity trades that are in progress with the potential to lead to a monthly demand of 60 Million gallons per month over a 12 month contract period.
Close on a contemplated acquisition of land and permits for a 102 Mega Watt (MW) power project, currently in progress.
Discharge our Convertible Debenture obligations through cash settlements.
Discharge our obligations relating to our trade payables including the November 17, 2014 Superior Court of Connecticut, Judicial District of Danbury Order approving the voluntary Stipulation for Settlement of Claims ($1,834,935 in debt obligations) through cash payments.
Change the domicile of the Company from Nevada to an as yet undetermined State.
Restructure the capital stock of the Company, including but not limited to a reverse stock split.
THERE ARE NO ASSURANCES THAT THERE WILL BE A SUCCESSFUL CLOSE ON THE FINANCING, ON THE ULSD PHYSICAL COMMODITY TRADES OR ON THE ACQUISITION OF THE 102 MW POWER PROJECT. THERE CAN BE NO ASSURANCE THAT THE SALE OF THE ULSD WILL BE PROFITABLE OR THAT THE COMPANY WILL BE ABLE TO GENERATE SUFFICIENT REVENUES TO OPERATE PROFITABLY FROM THE PURCHASE AND SALE OF ULSD.
THERE ARE NO ASSURANCES THAT SHOULD THE COMPANY CLOSE ON THE FINANCING THAT THE FINANCING WILL BE SUFFICIENT TO DISCHARGE ITS DEBT OBLIGATIONS OR BE SUFFICIENT TO GENERATE REVENUES FOR THE COMPANY.
THERE ARE NO ASSURANCES THAT SHOULD THE COMPANY CLOSE ON THE ACQUISITION OF THE LAND AND PERMITS FOR THE 102 MW POWER PROJECT THAT THE COMPANY WILL BE SUCCESSFUL IN RAISING THE FUNDS NECESSARY TO COMPLETE THE CAPITAL COST OF THE PROJECT AND THERE ARE NO ASSURANCES THAT SHOULD THE COMPANY BE SUCESSFUL IN RAISING THE NECESSARY FUNDS TO COMPLETE THE 102 MW POWER PROJECT, THAT THE 102 MW POWER PROJECT WILL BE ABLE TO GENERATE SUFFICIENT REVENUES TO OPERATE PROFITABLY.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: November 16, 2016
XUN ENERGY, INC.
/s/ Jerry G. Mikolajczyk
By: Jerry G. Mikolajczyk
Title: President and CEO
********************LATEST PRESS RELEASES:********************
IT HAS BEEN ALMOST 2 YEARS SINCE THIS PRESS RELEASE CAME OUT. AND THERE HAS BEEN NO DEALS OR SHARE HOLDER VALUE. BUYER BEWARE.
♦ Dec 24, 2014 Xun Energy Actuates Physical Commodity Trades Division
PORTLAND, OR--(Marketwired - December 24, 2014) - Xun Energy, Inc., (OTC PINK: XNRG) (the "Company") is pleased to announce that the Board of Directors approved the actuation of the physical commodity trades division, Xun Oil Marketing (XOM), on December 24, 2014. The Company has been researching and testing the concept over the last several months and believes it is in the best interests of the Company and its shareholders to engage the physical commodity trades market with its own proprietary and creative business model.
With the Board's approval Xun Oil Marketing begins its assignment to execute the objectives of its business model. The new division's business model is that of a Buyer and Seller of a wide range of petroleum products sourced internationally and sold to Exit Buyers. It is the task of this new division to undertake the purchase of refined petroleum products at the lowest possible price and sell at the highest; to establish long term contracts with international suppliers and creditable Buyers, primarily "Majors" (major airlines, Fedex, UPS, DHL, etc.); and to earn an exemplary reputation for industry standard delivery performance, service and flexibility. XOM will collaborate with qualified financiers to fund our refined product purchases, assemble joint ventures and partnerships with individuals and companies that can facilitate these transactions. Jerry G. Mikolajczyk, President and CEO of Xun Energy, will head the management team of XOM and says of the XOM launch, "Xun Energy has the management capabilities to guide the new division through the successful purchasing, marketing and logistics of refined petroleum products. Over several years, I have made connections and facilitated refined product sales by others. I feel it is time for the Company to capitalize on the work and expertise I've gained." He further states: "Our focus will be primarily on Aviation Jet Fuel (AJF) physical commodity trades as the demand for AJF is greater than the supply and each transaction involves large quantities. A small margin multiplied by large quantities can generate substantial cash flow for the Company in a relatively short timeframe between the time of purchase of the AJF and the sale of the AJF, a matter of hours, not days or months."
As part of its activation process, the Company will launch a dedicated website for XOM. The dedicated website, www.xunoil.com, outlines the business model and will provide performance data as physical commodity trades are completed by the Company.
"We are excited to announce our new division and the XOM web site! Here Buyers and Sellers of refined petroleum products, as well as financiers, can view information on the full range of Xun Oil Marketing objectives and its performance," says Mr. Mikolajczyk.
About Xun Energy, Inc.
Xun Energy, Inc. is an oil operating company in development stage. Its primary assets are located in Venango County, Pennsylvania, USA. Our projects are subject to completing its financing and the success of the drilling and completions program. Additional information may be found at http://www.xunenergy.com and http://www.xunoil.com
This Press Release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections, and contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that production or other factors pertaining to the oil operations will be sustained at the expected rates or levels over time. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date of this news release, and we undertake no obligation to update this informatio
Xun Energy, Inc. and its subsidiaries (the Company) are primarily engaged in the acquisition of producing or near producing oil and gas properties and the development of said properties. The Company will continue to acquire producing or near producing oil and gas properties for the purpose of producing cash flow and upside development. Such activities are concentrated in North America onshore, primarily in the United States.
Xun Energy acquired 30 oil and gas well locations in Pennsylvania, 1 of which was drilled and produced 195 barrels of oil at Rice #15 in Venango County, PA that was announced by the company on July 4, 2014. Xun Energy's well, named Rice Well #15, has been temporarily shut-in due to "uneconomical at the low WTI crude oil prices," which was posted on the company forum on December 6, 2015.
Currently Xun Energy is scouting and evaluating properties in Texas, Oklahoma, Pennsylvania, Kansas and in Canada.
Xun Energy was incorporated on December 20, 2007 in the State of Nevada. Xun is a development stage company with limited revenue and significant assets.
According to the company website, there are, in addition to its primary division of Oil & Gas, three more divisions coming soon. These divisions are Energy, Mining & Capital and can be noted by visiting the Operations page of the Xun Energy website.
Xun Energy provides a company forum that is managed by the company. This forum provides a means for shareholders to communicate directly with the company management as well as receive real-time information as provided by company management and can be found at: Xun Energy Forum
Xun Energy, Inc. Corporate Profile:
Mr. Jerry G. Mikolajczyk, President, CEO & CFO:
Appointed President, CEO, CFO, and a director of the Company on May 31, 2011, Mr. Mikolajczyk was a key consultant to the Company who identified the opportunities available in Kentucky, helped negotiate contracts, and assisted the Company with its financial reporting including SEC filings and financial statements from February 2010 to May 2011.
Mr. Mikolajczyk has had an extensive career in the oil and gas, construction, and mining industries. Having worked for Fortune 500 companies such as BP Resources (British Petroleum), SCI Group of Companies, Husky Oil, Syncrude, Bechtel, Guy F. Atkinson and INCO. He has worked as a heavy equipment operator on surface and open pit mining operations, he has an aggregate of forty-one years experience in the industry.
In 2008, Mr. Mikolajczyk was awarded “CFO of the Year” for the application of his knowledge and expertise in a turnaround assignment for the Santa Clara Valley Transportation Authority (VTA), a $3.3 Billion asset transportation authority in Silicon Valley (San Jose, California).
Through his consulting expertise, Mr. Mikolajczyk has provided services to many companies including (but not limited to):
>Global Power and Water Industries, Inc.
>VTA (Santa Clara Valley Transportation Authority)
>MineCore International, Inc.
>Platinum Works, Inc.
>Blue Green Corp
>J.M.E.L. International Inc.
Wayne St. Cyr - Executive Vice President:
Mr. Wayne St. Cyr is our Executive Vice President of Marketing and Strategic Development and Corporate Secretary. Mr. St. Cyr joined the Company as an executive on January 1, 2011. Prior to joining Xun Energy, Inc., he was employed for ten years as District Manager, New England Division, Royal Bank of Scotland (RBS). His responsibilities included, but not limited to, managing the merchant transactions for approximately 430 Citizen Bank branches and their partners as well as developing key alliances with Citizens Bank. During his tenure with RBS, Mr. St. Cyr was a six-time recipient of the President's Award for exceeding company objectives.
Mr. St. Cyr’s education includes an Associate's degree in Business Administration and a Bachelor of Science degree in Marketing.
Peter Matousek; VP of Investor Relations:
Peter Matousek is an internationally seasoned consultant and entrepreneur with a European background. Formal education includes attendance at University of Maryland University College and Warner Pacific College, where he earned degrees in Associates of Arts and Bachelors of Business Administration.
He has been a proud member of the United States Navy and is a Veteran of Foreign War having recently served in Operation Iraqi Freedom. The Army Achievement Medal, Navy Achievement Medal and Honorable Discharge are among his many awards and recognition.
Professionally, Mr. Matousek has demonstrated both passion and ability, working extensively with the public markets for companies throughout the United States and Canada. During this time, he has cultivated relationships with shareholders, private investors, venture capital firms and investment advisors, in addition to a wealth of business professionals and strategic partners worldwide. These relationships have allowed him to excel within the natural resource sector including oil & gas and precious metal mining.
With over 20 years of experience in the financial and natural resource sector, Mr. Matousek has utilized his in-depth knowledge and skills to foster unparalleled success in the public arena. He has held directorships, key officer positions, and has represented numerous companies in the capacity of Investor & Public Relations. His ability to communicate in a number of languages including German, Czech, English and to understand other cultures and traditions has enabled Peter to establish lasting relationships and effective synergies.
He has also been a frequent contributor to charitable organizations, such as Ministries to Mexico and contributed to the erection of a War Heroes Memorial.
William D. Spier, PHD - Treasurer:
Dr. Spier has been an advisor in economics and business development to private equity funds in the U.S. and Europe for the past six years. Prior to that, he was a business growth consultant to major proprietary and public institutions of higher education with 5-1 year appointments.
Acting as Senior Vice President for Whitman Medical and Executive Director for Ultrasound Technical Services (a reporting issuer) for 13 years, he was responsible for the founding and growth of the pioneering institute for medical ultrasound training which expanded to 15 major markets in the U.S.
From 1982-1984 Dr. Spier was affiliated with Diamond Turk & Company, a specialist firm on the American Stock Exchange.
From 1969 to 1981, Dr. Spier held various positions with the New York Board of Education, was a graduate instructor at Washington University, St. Louis, Assistant Professor of Sociology, St. Louis University and a member of the United States Teacher Corps.
Dr. Spier received his Bachelor of Arts degree from Hobart College, his Master’s degree from Washington University, St. Louis, and his Doctorate in Sociology with concentration in political economy from Washington University, St. Louis.
With an extensive history of publications, Dr. Spier has authored more than fifty business plans for both start-ups and established companies. He is a member of economic, education and medical societies and participates on the board of various public companies as well as being a visiting instructor at NYC and metropolitan-area institutions of higher education for graduate level teaching.
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