TNOG: A Letter to our Shareholders. A Letter to our Shareholders
July 29, 2005
Titanites!
From the Office of Kent Jacobson, President and CEO of Titan Oil and Gas, Inc.
Dear Shareholders,
You may recall in an earlier letter that I had mentioned a conversation that I’d had with 2 lawyers from the Securities and Exchange Commission, located in the Denver Office.
At the time, they expressed concern that illegal market manipulators were targeting us. These illegal participants were said to be using chat boards in a criminal manner in an attempt to negatively influence the Company’s stock price. Three specific names were given to me at the time, including that of a market maker, which is notorious for abusive short selling activities. I was advised that the SEC were not only aware of these activities, but were actively investigating them. At the end of this letter, I will provide some advice on how you personally can help us combat illegal market manipulation. First of all, a few comments are in order, and these are really a matter of common sense.
An accusation has been made that the Company had not filed all necessary permits with the Texas Railroad Commission in order to legally sell our oil to market from the Kosciusko # 1 well.
This is blatantly false. As this well was a re-entry, the necessary forms were filed years ago. One remaining item, our 24 hr test on form W-10, was filed with an effective date of June 1, 2005. All necessary permits have been filed to legally sell our oil.
Another accusation has been made that suggests we are dealing with some imaginary “environmental disaster.” There has been an attempt to create frenzy over an image of a simple flare pit. As we have recently announced, drilling operations are continuing at the Kosciusko # 1 well. To quote our Petroleum Engineer, Peter Maupin, directly: "At the end of drilling operations, we will empty and backfill all pits on the lease."
Another attempt revolved around the mandated signs that must be posted when there is the possibility of even the most miniscule trace of H2S gas. The implication seemed to be that whole populations may be killed off, instead of honestly presenting the facts – even if only the tiniest trace may be present, we are required to post signs.
Per my earlier reference to “common sense” – does anybody really believe that an oil patch veteran of over 30 years, described by a reporter at the San Antonio Business Journal as one of the top 3 oilmen in the region, would fail to file permits to sell oil legally, or create some environmental disaster?
Illegal market manipulators who attempt to enhance their short positions by lying to honest people on chat boards may have millions upon millions of dollars riding on the outcome. They win when they scare investors into making foolish decisions, are thoroughly unscrupulous, and will tell any lie necessary to accomplish their objectives.
Once again, please use common sense. What honest shareholder takes a position in a company, and then makes relentlessly negative comments to try to drive down the price of his own stock? When you see activity like this, you may rightly expect illegal market manipulation.
As earlier noted, we are asking your assistance to bring these criminals to justice. We are very busy with oil and gas operations and do not physically have the time to read these chat boards and track down all illegal activity. The more people who are on the lookout, the better.
When you note illegal chat board activity, please do not only report it to the operators of the chat board, though that is a good first step. These individuals merely adopt new aliases and continue their illegal activity unabashed. Please go one step further, and copy all details of any illegal posting, including the time, name of board, and URL, if possible, to the SEC at the Denver office. Since they have told me they are taking an interest in this activity against our company, they will undoubtedly take action when you provide them with this information.
Illegal market manipulators hide behind aliases and anonymous websites, you will notice that they will never give their real names or contact information. The SEC has investigative powers that allow them to demand the I.P. addresses of illegal participants from the message board providers in order to track them down and bring them to justice. The SEC Denver office may be reached at (303) 844-1000 or e-mail: denver@sec.gov .
Please assist your Company as we vigorously seek to crack down on these illegal activities. On behalf of the management of Titan Oil and Gas, Inc., I thank you in advance for assisting us in this matter.
Yours Truly, Kent Jacobson President and CEO Titan Oil and Gas, Inc.
Titan Oil and Gas: Need to Know.
Titan Oil and Gas has done extremely well as we all know venturing from a bottomed out, valueless level of .001 to soar to heights of .059 to recent levels supported just below .02. The vision of the company is strong and we are very confident on the long-term growth of the company.
We are a very transparent company and encourage all questions, suggestions, or concerns to be addressed directly to the investor relations office. We are working together with the shareholders for a mutual vision and will be making the needed information readily available. A new question and answer area on the www.novakcapit al.com site will be available as early as next week. Please summit your impute and questions.
Titan Oil and Gas Official Website. TNOG Stock Information.
July 22, 2005 - Titan Oil and Gas, Inc. - Stanley # 1B Back in Production Kosciusko # 1 Oil to Market
July 7, 2005 - Kosciusko #1 Well Initial Production Report
July 1, 2005 - Titan Oil and Gas, Inc. - Kosciusko #1 Well in Production
June 24, 2005 - Titan Oil and Gas, Inc. - Stanley # 1B Well in Production Kosciusko Update
Full News Release Database.
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