BSPE Revoked

https://www.sec.gov/litigation/admin/2018/34-82764.pdf

BSPE SEC Suspension for delinquent Financials/Filings:

https://www.sec.gov/litigation/suspensions/2018/34-82464.pdf

Order:

https://www.sec.gov/litigation/suspensions/2018/34-82464-o.pdf

Admin Proceeding:

https://www.sec.gov/litigation/admin/2018/34-82463.pdf

Low of 1.01

Consolidated Results of Operations for the Nine Months Ended July 31, 2012 Compared to the Nine Months Ended July 31, 2011

Revenues for the nine months ended July 31, 2012 totaled $1,321,934 as compared to $1,408,718 during the nine months ended July 31, 2011. The decrease, totaling $86,784, was primarily the result of the decrease in the price of oil during the quarter ended July 31, 2012.

Selling general and administrative expenses decreased $359,964 from $1,862,065 during the nine months ended July 31, 2011 to $1,502,101 during the nine months ended July 31, 2012. This decrease is primarily the result of a decrease of approximately $370,000 in stock based compensation as the result of the vesting of stock option grants.

Depreciation, depletion and accretion increased by $204,484 to $677,603 during the nine months July 31, 2012 as compared to $473,119 during the nine months ended July 31, 2011. The increase was the result of the production from the BVR Well No. 6-1 and Everett No. 3 wells we drilled in the past 12 months.

Lease operating expenses increased $70,149 from $582,229 during the nine months ended July 31, 2011 to $652,378 during the nine months ended July 31, 2012. The increase was the result of the higher cost of operations from the Copano Bay, BVR Well No. 6-1 and Everett 3 wells.

During the period ended July 31, 2011, we incurred exploration expenses of $106,394. These costs related primarily to the 2-D seismic work done on the Pedregosa property. There were no exploration costs in the period ended July 31, 2012.

We incurred interest expense totaling $1,901,588 during the nine months ended July 31, 2011. The interest was incurred on promissory notes totaling $1,560,000 and bridge notes totaling $1,745,300 as well as on the discount and beneficial conversion features on the bridge notes. Interest expense totaling $213,599 in the period ended July 31, 2012 was primarily the result of borrowings on the notes due to Silver Bullet and amortization of the discount on the Contribution Agreement.

We incurred a net loss for the period ended July 31, 2012 of $1,723,747, compared to a net loss of $3,647,105 for the period ended July 31, 2011.

have a question for you!
has nothing to do with BGOI bspe?
or fake
thank you

Looks like a good business model.

Nice improvement to oil & gas revenues period over period.


Consolidated Results of Operations

Management discussion of operations.

Highlights

Beech Creek Gas Unit (known as “Beech Creek Field”) Acquisition in April 2010

On April 5th, 2010, the Company purchased different working interests in the Beech Creek Gas Unit located in Hardin County, Texas for $740,798 in cash. These property interests were previously owned by a group of five different working interest owners. The Gas Unit includes two (2) active gas wells, each included in a 44 acre oil unit located in Hardin County, Texas. A 30.0587% working interest was acquired in the Beech Creek #1 well. A 24.4337% working interest was acquired in the Beech Creek #2 well. We do not operate these wells. Total revenues and lease operating expenses associated with these properties during the six months ended April 30, 2010 were $32,935 and $3,546, respectively.


J.E. Pettus Gas Unit (known as “Cabeza Creek Field”) Acquisition in November 2009

On November 9th, 2009, the Company purchased the J.E. Pettus Gas Unit located in Goliad County, Texas for $402,569 in cash. We also incurred approximately $25,000 in fees associated with the acquisition, which were expensed when incurred. These properties were previously owned by Pioneer Natural Resources USA, Inc. The Gas Unit includes four (4) active gas wells and 24 non producing gas wells located on 3,689 acres in Goliad County, Texas. The interest acquired by BSPE is 100% all right, title and interest from the surface to 8,500 feet below the surface and 10.67% below 8,500 feet. We became the operator at depths upon closing of the acquisition, which is outsourced to an unrelated third party. In connection with these outsourced services, we pay an administrative fee of $500 per gas well per month, as well as a consulting fee of $8,000 per month. Total revenues and lease operating expenses associated with these properties during the three months ended April 30, 2010 were $392,279 and $125,452, respectively. Total revenues and lease operating expenses associated with these properties during the six months ended April 30, 2010 were $461,157 and $201,310, respectively.

Access Energy

On April 30, 2010, the Company sold 441 of the 600 shares it held in Access Energy to the other stockholder of Access Energy, Mr. Reg Burden. Following the transfer, Blacksands holds 19.9% of the outstanding Access shares and Mr. Burden holds 80.1%. As consideration for the transfer, the Company is relieved of its contractual obligation to fund Access’ annual plan and budget including Access’ commitments to First Nations’ communities, and Mr. Burden’s warrants to purchase the Access Warrants would be cancelled.

Did you see any updates on this well yet? TIA

BSPE sure has been on the move lately, anyone know anything here? I found it through DGOI's last PR...

Bonanza Oil & Gas Enters Exploration Agreement on Apclark

Press Release Source: Bonanza Oil & Gas, Inc. On Wednesday September 8, 2010, 10:38 am EDT

HOUSTON, TX--(Marketwire - 09/08/10) - Bonanza Oil & Gas, Inc. (OTC.BB:BGOI - News), a Nevada Corporation and an independent oil and gas development company (the "Company" or "Bonanza") based in Houston, Texas, today announced that the Company has entered into an Exploration Agreement on its Apclark Field properties with Blacksands Petroleum Texas, LLC., an affiliate of Blacksands Petroleum, Inc. Bonanza and Blacksands anticipate the drilling of multiple wells to fully develop the Apclark Properties in Borden County, Texas.

The primary objective of this agreement is to further the Company's oil development of the Apclark Field properties in Borden County, Texas.

Bill Wiseman, President and Chief Executive Officer of Bonanza Oil & Gas, Inc., said of the deal, "The Company is excited about the agreement with Blacksands and the anticipation for continued oil development of its proven undeveloped (PUDs) properties in Borden County, Texas. The first well is expected to be drilled in the fall of this year."

For more information on this and other activities of the Company, please see the Bonanza Oil & Gas, Inc. web site at: www.bonanzaog.biz.

About Bonanza Oil & Gas, Inc.

Bonanza Oil & Gas, Inc. is a Houston, Texas-based oil and gas development company that holds assets ranging from current producing properties and wholly owned prospects to developing working interests in Proven Undeveloped properties (PUDS).

About Blacksands Petroleum, Inc.

Blacksands Petroleum, Inc. is a public company engaged in the acquisition, exploration and development of conventional and unconventional oil and gas fields in North America. BSPE and its affiliates are engaged in exploration and production projects in Colorado, New Mexico and Texas.

I'm a bit uneasy about their relationship with Access. Most of the earlier agreements appear to have been signed by Access. And now BSPE has only a minority stake in Access?

Blacksands provides further corporate update
May 28, 2009 8:46:00 AM


Email Story Discuss on ZenoBank

View Additional ProfilesTORONTO, May 28 /PRNewswire-FirstCall/ - Blacksands Petroleum, Inc. (OTC Bulletin Board: BSPE) (the "Company" or "Blacksands") announced today that Mr. Paul A. Parisotto intends to resign as an officer and director of the Company at the Company's upcoming annual general meeting, if the shareholders approve the Company's proposal to sell a portion of its shares of Access Energy Inc. ("Access"), its majority-owned subsidiary, to the other shareholder of Access, as announced on April 30, 2009. Mr. Parisotto will remain as the President and CEO of Access.

Mr. Mark Holcombe, currently an independent director and the Chair of the Company's Audit Committee, has agreed to serve as the Company's President and CEO, if Mr. Parisotto resigns. Mr. Holcombe founded Stirling Partners Limited in 2006, was the former Head of Corporate Development and Private Equity and Chief Compliance Officer at GEM Global Equities Management, S.A., an emerging market hedge fund, and was also an investment banker at DLJ and ING Capital in New York. Mr. Holcombe has over 18 years of natural resource industry and corporate finance experience. Since 2007, he serves on the board of Sandfield Ventures Corporation, PNG LNG Ltd. and Pacific LNG Operations LTD. Mr. Holcombe holds a B.A. from Colgate University.

Mr. Parisotto will be available to assist Mr. Holcombe with the transition.

The Company expects to announce a definitive date for its upcoming annual general meeting in the near future.

As well, the Company announced on April 30, 2009 that it will be seeking shareholder approval of a 1-for-3 reverse stock split. Finally, the Company announced that the Board of Directors has rescinded its approval of the pending grant of stock options under the amended 2008 Company Stock Option Plan, yet to be approved by the shareholders.


About Blacksands


Blacksands Petroleum, through its 75% ownership of Access Energy Inc. - a private Canadian company - is engaged in the business of exploring for, developing and operating unconventional oil and gas projects. Such projects may include oil produced from tar sands, also referred to as oil sands, or bituminous sands, which are a combination of clay, sand, water, and bitumen.


"Paul A. Parisotto"
President & CEO

Cautionary Note Concerning Forward-Looking Statements


This press release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated actions and expectations of the Company discussed in this press release and the anticipated benefits of those actions. All statements, other than statements of historical fact, included herein including, without limitation, the word "expect" and similar expressions identify forward-looking statements. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include the timing of the shareholder meeting, the ability to receive shareholder approval, the ability to complete the share transfer documentation to both parties satisfaction, the completion of the share transfer and the Company's ability to refocus on gold exploration and production and other risks and uncertainties disclosed in the Company's 10-K for the year ended October 31, 2008, filed with the United States Securities and Exchange Commission, and other information released by the Company from time to time and filed with the appropriate regulatory agencies.


SOURCE Blacksands Petroleum, Inc.



----------------------------------------------
Paul A. Parisotto
President & CEO
(416) 359-7805

Blacksands provides corporate update
Apr 30, 2009 8:28:00 AM


Email Story Discuss on ZenoBank

View Additional ProfilesTORONTO, April 30 /PRNewswire-FirstCall/ - Blacksands Petroleum, Inc. (OTC Bulletin Board: BSPE) (the "Company" or "Blacksands") announced today that the Board of Directors has approved an agreement in principle to sell a portion its shares of Access Energy Inc. ("Access"), its majority-owned subsidiary, to the other shareholder of Access. This transaction is subject to Blacksands' shareholder approval at the upcoming annual general meeting of shareholders.

As well, the Company announced today that it will be seeking shareholder approval of a 1-for-3 reverse stock split. Finally, the Company announced that the Board of Directors has rescinded its approval of the pending grant of stock options under the amended 2008 Company Stock Option Plan, yet to be approved by the shareholders.


Sale of Shares of Access


The Company currently holds 75% of the outstanding shares of Access. The Company has reached an agreement in principle with Mr. Reg Burden, the other Access shareholder, for the Company to transfer a portion of its Access shares to Mr. Burden. The sale would be subject to the approval of the shareholders of Blacksands. Following the transfer, Blacksands would hold 25% of the outstanding Access shares and Mr. Burden would hold 75%. As consideration for the transfer, the Company would be relieved of its contractual obligation to fund Access' annual plan and budget including Access' commitments to First Nations' communities, Mr. Burden would pay Blacksands nominal consideration, and Mr. Burden's warrants to purchase 1.5 million shares of Blacksands (the "Access Warrants") would be cancelled.

The Company expects to close the sale of the Access shares, subject to completion of documentation and receipt of Blacksands' shareholder approval, as soon as practicable following the Blacksands' shareholder meeting.

Following the share transfer, the Company intends to pursue other opportunities in the resource sector.


1-for-3 Reverse Stock Split


At the next annual general meeting, the Company plans to seek shareholder approval for a reverse split of its Common Stock, which it currently anticipates will be a 1-for-3 split. If the reverse stock split is approved by shareholders, each holder of the Company's Common Stock on the effective date of the reverse stock split will be entitled to receive one share of new Common Stock in exchange for every three shares of old Common Stock held by such holder. The Company's authorized Common Stock would be similarly reduced.


Cancellation of Stock Options


The Board of Directors, at its meeting on April 27, 2009, rescinded its February 15, 2008 approval of the granting of stock options to directors, officers and consultants to the Company for options representing 2.2 million shares. These options have not yet been granted pending the approval of the amended 2008 Company Stock Option Plan by the shareholders at the Company's next annual general meeting. With the decision to rescind the Board's prior approval of the granting, the Company will have no stock options granted or to be granted when the amended 2008 Company Stock Option Plan is approved by the shareholders. The Company has no other outstanding stock options at this time. The amended 2008 Company Stock Option Plan remains subject to shareholder approval at the forthcoming annual general meeting. Any future options to directors, officers, employees and consultants will be granted on terms in accordance with the amended 2008 Company Stock Option Plan once approved.


About Blacksands


Blacksands Petroleum, through its 75% ownership of Access Energy Inc. - a private Canadian company - is engaged in the business of exploring for, developing and operating unconventional oil and gas projects. Such projects may include oil produced from tar sands, also referred to as oil sands, or bituminous sands, which are a combination of clay, sand, water, and bitumen.


"Paul A. Parisotto"
President & CEO

Cautionary Note Concerning Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated actions and expectations of the Company discussed in this press release and the anticipated benefits of those actions. All statements, other than statements of historical fact, included herein including, without limitation, the word "expect" and similar expressions identify forward-looking statements. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include the ability to receive shareholder approval, the ability to complete the share transfer documentation to both parties satisfaction, the completion of the share transfer and the Company's ability to refocus on gold exploration and production and other risks and uncertainties disclosed in the Company's 10-K for the year ended October 31, 2008, filed with the United States Securities and Exchange Commission, and other information released by the Company from time to time and filed with the appropriate regulatory agencies.


SOURCE Blacksands Petroleum, Inc.



----------------------------------------------
Paul A. Parisotto
President & CEO
(416) 359-7805