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Nice chart developing
Tony F M. Can you put up the EBOF chart
looks like a bottom is in and a turn is in progress
TIA
A
Sun Cal Energy Announces Commencement of Commercial Gas Sales
From Its Sibley 84 #1 Well in the West Gomez FieldLast update: 8/20/2008 9:00:08 AMSAN FRANCISCO, Aug 20, 2008 (BUSINESS WIRE) -- Sun Cal Energy Inc. (SCEY), an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana and the Green River Basin of Wyoming, is pleased to announce that the first of several wells to be drilled in the multi-pay prospect in the West Gomez Field, the Sibley 84 #1 well, has reached its target depth, and has been placed into commercial production. On August 16, gas initially flowed from the well at a rate of 2.7 million cubic feet of gas per day. The on-site engineers subsequently increased the choke to 16/64" from 12/64" resulting in a flow rate of 4 million cubic feet of gas per day. The well was then shut-in to install a separator to facilitate the handling of any fluids that may be produced with the gas. Final shut-in pressures were 4,400 psig and 760 psig on the casing and tubing-head respectively. Continuing on this success, the operator is expected to begin drilling operations shortly on a second well located on the same block, the Sibley 84 #2 well, as it was staked last week following the completion of all road and lease construction work. As stated by George Drazenovic, CFO of Sun Cal Energy Inc.: "We are excited that the Sibley 84 #1 well has been completed and brought into production. This is yet another significant milestone for our company and shareholders as we continue to build cash flow and realize the potential of our oil and gas assets. We look forward to even greater successes, particularly on our high impact assets in California and Wyoming." Having produced in excess of 5 TCF of natural gas, the West Gomez Field is one of the most prolific gas plays in the United States. The prospect, "83 84", consists of two re-entry wells, the Gulf-Baker 83 #1 (originally owned by Gulf and operated by Getty Oil Co.) and the Sibley 84 #1, as well as a new well, the Sibley 84 #2, on a 1280 acre lease in Pecos County, Texas. Based on published production data and geological and engineering calculations, recoverable reserves are estimated to be more than 27 billion cubic feet of gas and 50,000 barrels of oil. Sun Cal's interest will be 2% while any cost over-runs will be assumed by the operator. The 83 84 Project is adjacent to proven production properties operated by the world's leading oil and gas producers including Exxon Mobil Corp., Conoco Phillips Co., Chevron USA Inc., Hunt Oil Co., Chesapeake Operating Inc., Cimarex Energy Co. and Texaco Inc. Supported by a data review of the Composite Borehole Compensated Sonic Log from Schlumberger, Gamma Ray & Sidewall Neutron Porosity Logs, drilling and completion reports, and the production history in the area overall, the 83 84 Project could produce upwards of 6,500 MCFGPD and 80 BOPD. Further Information Shareholders and prospective investors are encouraged to visit Sun Cal Energy's website: and download Sun Cal Energy's Investor Summary. Please feel free to call investor relations toll-free at 1-800-798-8334 to receive a full corporate investor's package. About Sun Cal Energy Inc. Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California. Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana, and the Green River Basin of Wyoming. Sun Cal Energy Inc. trades under the ticker symbol: SCEY - "Sun Cal Energy Inc. - Providing Energy Solutions to America." On behalf of the Board Lewis Dillman, President and CEO Forward-Looking Statements Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas resources, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission. Cautionary Note to U.S. Investors The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this news release, such as "prospective resources", "stock tank oil initially in place", "STOIIP", "likely recovery factors", "recovery factor" "prospective reserves", "prospective resource", "risk", "likely reservoir", "recoverable oil", "possible resource", "potential reserve" and "recoverable reserve potential that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10-KSB and quarterly reports on Form 10-QSB available from us or the SEC." This release contains information about adjacent properties on which we have no right to explore. We advise U.S. investors that the United States Securities and Exchange Commission's oil and gas guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that oil and gas deposits on adjacent properties are not indicative of oil and gas deposits on our properties. SOURCE: Sun Cal Energy Inc.
Sun Cal Energy Inc.Lewis Dillman, CEO, 1-800-798-8334Investor Relationsir@suncaloil.comCopyright Business Wire 2008 Copyright © 2008 MarketWatch, Inc. All rights reserved. Please see our Terms of Use.
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Form 4 Sept. 6,'07 dates
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5440911
FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
CAL-BAY INTERNATIONAL INC 2. Issuer Name and Ticker or Trading Symbol
CAL-BAY INTERNATIONAL INC [ CBAY ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director __ X __ 10% Owner
__ X __ Officer (give title below) _____ Other (specify below)
President & CEO
(Last) (First) (Middle)
PO BOX 502548 3. Date of Earliest Transaction (MM/DD/YYYY)9/6/2007
(Street)
SAN DIEGO, CA 92150-2458
(City) (State) (Zip) 4. If Amendment, Date Original Filed (MM/DD/YYYY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
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(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Cal-Bay International, INC. - Common Stock 9/24/2007 9/24/2007 P 700000000 A $0.0003 1900000000 D
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(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
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Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
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Director 10% Owner Officer Other
CAL-BAY INTERNATIONAL INC
PO BOX 502548
SAN DIEGO, CA 92150-2458 X X President & CEO
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Watch the Bio-Willie History Channel video below...
To the woodshed...
anyone out there know how much more the big seller has to dump?
Tony_f_M can you throw up the EBOF chart...thx
EBOF 8K & news out
http://ih.advfn.com/p.php?pid=nmona&cb=1216148357&article=27339468&symbol=NB%5EEBOF
Earth Biofuels Restructures Debt on Biodiesel Facility
DALLAS, Jul 15, 2008 (BUSINESS WIRE) -- Earth Biofuels, Inc. (OTCBB: EBOF) today announced a restructuring of certain promissory notes which has resulted in the reduction of $4,000,000 of senior secured debt on its biodiesel production facility located in Durant, Oklahoma. This reduction is part of the Company's plan to produce biodiesel at the facility using yellow grease and animal fats feedstocks.
Through the execution of an Amended and Restated Credit Agreement, Guarantee and Collateral Agreement with Fourth Third, LLC as part of the Company's liquefied natural gas ("LNG") spin-off transaction announced last week, an existing $9,000,000 Promissory Note with Fourth Third was replaced by a new $5,000,000 Promissory Note with Fourth Third. The new $5,000,000 Promissory Note is secured by Earth Biofuels' biodiesel production facility in Durant, Oklahoma. The $4,000,000 debt reduction was converted to the $34 million Promissory Note held by Fourth Third from PNG Ventures, Inc., which is secured by PNG Ventures' LNG processing facility in Topock, Arizona.
Earth Biofuels is actively pursuing an engineering upgrade to its Durant biodiesel facility to allow for the pre-treatment of high free fatty acid ("FFA") feedstock oils and to increase its production capacity to 20 million gallons per year.
Earth Biofuels, Inc. endeavors to produce and distribute biodiesel fuel and cellulosic ethanol through wholesale and retail outlets. The biodiesel fuel is sold under Willie Nelson's brand name, "BioWillie(R)." The Company's Web site is www.earthbiofuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE: Earth Biofuels, Inc.
CONTACT: Earth Biofuels, Inc.
Shawne Horn, 866-765-4940
investors@earthbiofuels.net
Copyright Business Wire 2008
stalled at 10dma
EBOF...wide B/A spread, be careful.
EBOF +33% on 2 mill vol.
EBOF near a tradeable bottom?
EBOF the more I look at this the better it looks for an accumulation:
PNG Ventures Acquires LNG Business in Exchange for Stock
1:42p ET July 8, 2008 (Business Wire)
PNG Ventures, Inc. (OTCBB: PNGX) today announced the closing of a share exchange with Earth Biofuels, Inc. (OTCBB: EBOF) whereby PNG Ventures has acquired Earth Biofuels' liquefied natural gas ("LNG") subsidiary, Applied LNG Technologies USA, LLC ("ALT") and its related entities in exchange for the transfer to Earth Biofuels of a majority ownership of PNG Ventures.
ALT's LNG business includes its vehicle-grade LNG production facility located just across the California border in Topock, AZ. The Topock facility is the largest vehicle-grade LNG production facility in the western United States. Also included are the LNG supply contracts with numerous commercial and municipal fleets along the California coast from Oakland to San Diego. These fleets' use of LNG as a transportation fuel for their converted vehicles provides lower fuel costs and compliance with the strictest state clean air initiatives in the nation.
"PNG Ventures will continue to operate the LNG business under the name, 'Applied LNG Technologies,' or 'ALT,'" stated the Company's interim CEO, Kevin Markey. "ALT will continue to provide reliable product delivery to its current customers. We are aggressively pursuing the growth of ALT through production expansion and new agreements with new domestic and international customers."
Over the past 10 years, use of LNG as a fuel for large municipal truck and commercial fleet vehicles has gained popularity in certain transportation markets due to its substantial price advantages over petroleum diesel fuel. The price advantages are primarily due to the cost of natural gas compared to oil and the various state and federal tax incentive programs that encourage the use of LNG. Fleet operations that utilize a common refueling station make the most sense for LNG use by a fleet operator.
Another advantage of LNG as a transportation fuel is the significant reduction of emissions of greenhouse gases and particulate matter compared to petroleum diesel use. Internal combustion engines that run on LNG emit 20% less greenhouse gases, 50% less nitrogen oxide (NOx), and over 70% less particulate matter than equivalent engines running on petroleum diesel. In September of 2006, the California ports of Long Beach and Los Angeles adopted the San Pedro Clean Air Action Plan, a sweeping plan aimed at significantly reducing the health risks posed by air pollution from port-related ships, trains, trucks, terminal equipment and harbor craft. The Clean Air Action Plan accelerates the efforts of a California Air Resources Board pollution reduction plan by requiring faster replacement of existing cargo-handling equipment with new equipment that will meet the toughest U.S. Environmental Protection Agency emissions standards. The use of LNG is a logical and economical solution for fleet operators to comply with this plan.
PNG Ventures, Inc. produces liquefied natural gas ("LNG") from its production facility in Topock, AZ and distributes its product to municipal and commercial transportation markets in the western United States. The Company's new web site is currently under construction. ALT's website is www.altlngusa.com. PNG Ventures currently has 11,398,309 common shares issued and outstanding, no preferred shares or warrants issued and outstanding.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE: PNG Ventures, Inc.
PNG Ventures, Inc. Kevin Markey, 214-634-6246 Interim CEO
NCEY here's why its getting wacked (no position):
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ncey
click on "Filings"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 7, 2008
New Century Energy Corp.
(Exact name of Registrant as specified in its charter)
Colorado 1311 93-1192725
(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification Number)
5851 San Felipe, Suite 775
Houston, Texas 77057
(Address of principal executive offices)
Registrant’s telephone number, including area code: (713) 266-4344
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------------------------------------
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On June 30, 2008, certain obligations of New Century Energy Corp. (the “Company,” “we,” and “us”) owed to Laurus Master Fund, Ltd. and its assigns and agents (“Laurus”), including a Secured Convertible Term Note entered into on June 30, 2005, in the original principal amount of $15,000,000, which had an outstanding balance (not including any accrued and unpaid interest) of approximately $12,000,000 as of March 31, 2008 (as amended and restated from time to time, the “Convertible Note”) and a Secured Term Note entered into on September 19, 2005, in the original principal amount of $9,500,000, which had a balance of approximately $6,351,391 as of March 31, 2008 (as amended and restated from time to time, the “Term Note”) became due. The Company failed to repay the outstanding amounts of the Convertible Note and the Term Note (the “Notes”) on June 30, 2008.
Pursuant to the terms of the Notes, the Company had three (3) days to cure any default in repayment of the Notes, which cure period expired July 3, 2008, and which Notes remain unpaid as of the date of this filing. As such, the Company is currently in default of the Notes, which default may trigger an event of default and default payments equal to an additional 30% of any amounts due (the “Default Payments”) under the other outstanding promissory notes, warrants, options and other related agreements which the Company has previously entered into with Laurus and parties affiliated with Laurus (the “Laurus Agreements”).
Payment Default Notice and Short -Term Forbearance Agreement
On or around July 7, 2008, Laurus communicated notice of the Company’s event of default under the Notes, alleged event of default under the other Laurus Agreements, and the fact that the Laurus Agreements began to accrue interest at the default rate (as provided in each Laurus Agreement) beginning on July 3, 2008, to the Company.
Laurus also agreed to forbear from exercising its rights and remedies (other than the implementation of the increased rates of interest and the requirement that the Company pay Default Payments) under the Laurus Agreements until 5:00 PM (New York time) on July 18, 2008 (the “Forbearance Period”), or such later time as Laurus may agree in its sole discretion. Laurus did not agree to forbear from administering the credit facility and/or from collecting, receiving and/or applying proceeds from the Company’s accounts receivable to the amounts owed to Laurus. The notice also stated that in the event the Company is able to repay the amounts owing to Laurus and under the Laurus Agreements prior to the end of the Forbearance Period, Laurus would waive any default interest and the requirement that the Company pay the Default Payments. The above terms are not binding on Laurus in the event that an event of default has occurred under the notice, including if an event of default other than those described above have occurred under any Laurus Agreement, if any representation made by the Company under any Laurus Agreement was false in any material respect when made, the Company’s failure to comply with any covenant in any Laurus Agreement, and/or if any person or entity other than Laurus exercises any rights to remedies against any of our assets or properties.
The Company is actively seeking alternative financing and is currently in ongoing discussions with Laurus regarding the entry into a separate forbearance agreement (the “Forbearance Agreement”) pursuant to which the Company plans to seek to stay Laurus’ enforcement of the defaults and provide the Company sufficient additional time (approximately sixty (60) additional days from the end of the Forbearance Period) to either (a) refinance amounts due to Laurus; or (b) restructure its currently outstanding liabilities with Laurus through the entry into new notes with Laurus. The Company is also in discussions with various third parties regarding alternative financing for the Company.
The Company can provide no assurances that it will have sufficient funds to repay the amounts due under the Laurus Agreements, following the Forbearance Period or during the term of any Forbearance Agreement, assuming one is entered into; and/or that the Company will be able to obtain any additional third party financing to repay its current obligations owed to Laurus and its affiliated parties. In the event the Company is unable to stay the payment of the Laurus debt beyond the Forbearance Period and/or obtain alternative financing, the Company could be forced to abandon its current business activities, sell or transfer a substantial portion of its assets to Laurus, Laurus could take control of substantially all of the Company’s assets and/or the Company could be forced to declare bankruptcy.
-2-
--------------------------------------------------------------------------------
SIGNATURE
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 hereunto duly authorized.
NEW CENTURY ENERGY CORP.
Date: July 8, 2008 By: /s/ Edward DeStefano
Edward DeStefano
Chief Executive Officer
"When all you have is a hammer, the whole world looks like a nail..."
S&P turn on fibs math...
My fibs math suggest that 5 fib waves down from 5/19/08 1440.24 is complete and the S&P is on it's way upward for a correction of that whole move.
This jell with anyone else's math? These numbers are actuals with the projected fib turns in brackets:
W1 5/19/8
1440.24
1373.72
actual distance travelled
W2 5/27
1373.07
1406.32 - actual (1398/1414 fib range .382/.618)
W3 5/29
1406.32
1304.42 - actual (fibs - 1.618*W1 = 1298.76)
W4 6/24
1304.42
1335.63 - actual (fibs - .382 = 1343 )
W5 6/25/8
1335.63
1260.68 - today 7/1/8 (fibs - W5 = W1 1269.11)
correction of whole move of
1440.24 @ 5/27/08 down to
1260.68 @ 7/1/08
suggests turns to watch:
.236 = 1303.06
.382 = 1329.27
.618 = 1371.64
break .786 at 1401.81 to suggest new bull impulse.
All just for fun and imho...probably worth what you're paying for it...
PSPN spread $0.25 x $3.49 $3.50 last...
post split crazy
$3.50 last trade?
$0.25 x $4.00 quite a bid/ask spread...
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SCEY nearing 0.42 - 50dma cross point...
currently .39 x .41
Maybe this time it's for real? Worth a watch
Section 8 OTHER EVENTS: Reverse Split & Symbol Change
Effective June 21, 2008, in order to meet a requirement of the Stock Purchase Agreement, as amended, between Airport Road Associates One, LLC (“Airport, LLC”) and East Coast Realty Ventures, LLC (“ECRV, LLC”), as previously reported on Form 8-K filed March 20, 2008, the Board of Directors of the Company has declared a 100 to 1 round lot reverse split of the Company’s Common Stock. In accordance with the reverse split, each shareholder will receive one (1) share of Common Stock for each one hundred (100) shares currently held. No fractional shares shall be issued; all fractional shares shall be rounded up to the next whole share. Any shareholder that should own less than one hundred (100) shares after completion of the reverse split shall be issued a sufficient number of additional shares so that each such shareholder shall own a minimum of one hundred (100) shares. The reverse split is effective as of the opening of trading on June 2, 2008.
Additionally, also effective June 2, 2008, the Company’s trading symbol was changed to “PSPN” in conjunction with the reverse split of the Company’s common stock.
50 dma = 0.42 so near another break point. Someone knows something, imo. This kind of spike is either:
1. A news leak sparking aggressive buying. Look for confirmation or refuting this one w/in a week...or,
2. A few buyers sparking some short covering and some momo pressure piling on.
3. A combo of #1 & #2
If they are positioned in energy as claimed, they will grow to multiples of this level.
ALL, IMHO...and saying that, I have to add that price point and chart don't lie...the snapshot is what it is.
Could go back to sleep tomorrow for the next six months...who knows...
Somethings up...chart turning
Shhhhh...
some buying pressure showing up.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) February 12, 2008
PSPP HOLDINGS, INC.
(Exact name of Registrant as Specified in its Charter)
Nevada 000-24723 88-0393257
(State or Other Jurisdiction (Commission file Number) (IRS Employer
of Incorporation) Identification No.)
3435 Ocean Boulevard, Santa Monica, California 90405
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code (310) 207-9745
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 5
Corporate Governance and Management
Item 5.01
Change of Control of Registrant
On February 12, 2008, Airport Road Associates One, LLC (“Airport LLC”), the controlling stockholder of PSPP Holdings, Inc. (the “registrant”), entered into a Stock Purchase Agreement with East Coast Realty Ventures, LLC (“ECRV”), pursuant to which ECRV acquired from Airport LLC (a) 900,000 shares of the registrant’s Series A Preferred Stock (the “Series A Shares”) and (b) 25,865,000 shares of the registrant’s common stock in consideration of a cash payment of $153,750 from ECRV and the assumption by ECRV of $500,000 owed by Airport LLC to certain persons who previously controlled the registrant. The source of the funds used by ECRV to pay the consideration to Airport LLC came from ECRV’s cash on hand. The transaction closed on the date of signing (February 12, 2008).
The Series A Shares are convertible into such number of shares of common stock that equals 45.9% of the outstanding common stock of the registrant immediately after the conversion. Based on 59,449,346 shares of the registrant’s common stock currently outstanding, the Series A Shares are convertible into 55,688,282 shares of common stock. As a result of the acquisition of the Series A Shares and the 25,865,000 shares of common stock, ECRV is the beneficial owner of 70.8% of the registrant’s common stock.
Additionally, the Series A Shares have voting rights on all matters submitted to stockholders equal to 60.3% of the total votes that can be cast. Based on 59,449,346 shares of the registrant’s common stock currently outstanding, the Series A Shares have 116,098,855 votes on any matter submitted to the stockholders. The Series A Shares vote as a separate class. As a result of the acquisition of the Series A Shares and the 25,865,000 shares of common stock, ECRV now controls 60.0% of the voting power of the registrant’s outstanding voting securities.
Pursuant to the Stock Purchase Agreement, upon the execution of a merger agreement between ECRV and the registrant, (i) Teresa Palumbo, the sole member of Airport LLC and an officer and director of the registrant, and Mary Radomsky, an officer and director of the registrant, will each receive a grant of 25,000 restricted shares of common stock of the registrant and (ii) Airport LLC will receive from ECRV a 20% equity interest in ECRV which interest shall have anti-dilution rights for a period of one year from the date of closing (February 12, 2008). In addition, ECRV will also have anti-dilution rights for a period of one year from the date of closing (February 12, 2008).
For a period of one year from the date of closing (February 12, 2008), Airport LLC has a right of first refusal exercisable if and when ECRV elects to sell, gift or assign a majority interest in the registrant to an unaffiliated third party. ECRV must give notice to Airport LLC of any such intent to sell, gift or assign a majority interest in the registrant. Airport LLC will have 30 days from the date of such notice to exercise its right of first refusal for the same consideration Airport LLC paid to ECRV.
The current officers and directors of the registrant, Teresa Palumbo and Mary Radomsky, will continue to serve as the officers and directors of the registrant until the registrant has completed a reverse split. After such reverse split, Ms. Palumbo and Ms. Radomsky will appoint new officers and directors and then promptly resign from their respective offices with the registrant.
1
Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are furnished as part of this Report:
Exhibit Number
Description
10.1
Stock Purchase Agreement, dated February 12, 2008, by and between Airport Road Associates One, LLC and East Coast Realty Ventures, LLC
Exhibit 10.1
STOCK PURCHASE AGREEMENT
COMMON & PREFERRED STOCK
THIS STOCK PURCHASE AGREEMENT is entered into this 12 th day of February, 2008 by and between Airport Road Associates One, LLC (the "Seller") and East Coast Realty Ventures, LLC (the “Buyer”).
RECITALS
WHEREAS, PSPP Holdings, Inc. is a corporation in good standing in the State of Nevada and is a publicly traded corporation trading on the OTC Bulletin Board Exchange and controlled by the Seller (hereinafter the “Company”);
WHEREAS, the Company currently has 59,449,364 shares of common stock issued and outstanding;
WHEREAS, the Buyer is the principal of East Coast Realty Ventures, LLC (hereinafter “ECRV”) and the proposed merger between the Company and ECRV is an inducement for the Buyer and Seller to enter into this transaction; and
WHEREAS, Seller is the legal or beneficial owner of twenty five million seven hundred fifteen thousand nine hundred thirty six (25,715,936) shares of the Company (hereinafter collectively referred to as the “Common Shares”) in the Company; and
WHEREAS, Seller is the legal or beneficial owner of one nine hundred y thousand (900,000) preferred shares of the Company (hereinafter referred to as the “Preferred Shares”); and
WHEREAS, Seller desires to sell and transfer to Buyer and Buyer desires to purchase in a private transaction in accordance with the terms and conditions provided for herein, the Common Shares and the Preferred Shares; and
2
WHEREAS, Seller is indebted to the prior control person(s) of the Company in the amount of five hundred thousand dollars ($500,000) to be repaid to the prior control person(s);
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:
ARTICLE I
PURCHASE AND SALE OF DEBTS AND SECURITIES
Section 1.1
RECITALS:
The above recitals are incorporated herein as a part of this Stock Purchase Agreement.
Section 1.2
SALE OF SECURITIES:
Subject to the terms and conditions set forth in this Agreement, Seller shall have transferred and conveyed the Securities to Buyer, free and clear of any and all liens, claims, and encumbrances, whatsoever, and Buyer shall purchase the Securities from Seller (the “Transaction”).
Section 1.3
CONSIDERATION:
(a)
As payment for the transfer of the Securities by Seller to Buyer, Buyer shall deliver at Closing the sum of one hundred fift three thousand seven hundred and fifty dollars ($153,750.00) to Seller by 5:00 PM EST on February 12, 2008; and
(b)
Seller shall assign Seller’s five hundred thousand dollar ($500,000.00) obligation to the prior control person(s) of the Company to the Buyer and Buyer shall accept such assignment; and
(c)
Buyer, upon the execution of a merger between the Company and ECRV (as defined in Section 4.2), shall deliver to Teresa Palumbo and Mary Radomsky twenty five thousand (25,000) shares each in restricted stock; and
(d)
Buyer shall, upon the execution of the merger between the Company and ECRV, shall deliver to the Seller a twenty percent (20%) equity position with the Company, which shall carry non-dilution protection for a period of two (2) years (the Buyer and Seller shall agree to enter into a mutually agreeable partnership agreement governing compensation of the parties for the operations of ECRV);
(e)
In the event the Closing is not completed by February 12, 2008 none of the Parties shall have any further obligations under this Agreement.
ARTICLE II
PRECONDITIONS TO CLOSING/DUE DILIGENCE
Section 2.1
CONDITIONS TO CONSUMMATION OF THE TRANSACTION: The respective obligations of the parties with respect to this Transaction shall be subject to satisfaction of conditions customary to transactions of this type, including without limitation, (a) execution of this Stock Purchase Agreement by all parties; (b) absence of a material adverse change in the financial condition, business, properties, assets or prospects of the Company prior to Closing, (c) satisfactory completion by the Buyer and the Seller of a due diligence investigation of the other party; and (d)
3
confirmation that the representations and warranties of each party are true and accurate in all respects.
ARTICLE III
REPRESENTATIONS AND WARRANTIES OF SELLER
Seller, and where applicable the Company, represent and warrant that at the time of the execution of this Agreement and at the Closing thereof:
Section 3.1
MARKETABLE TITLE:
The Seller shall convey to Buyer good and marketable title in and to the Securities, free and clear of any and all liens, claims, encumbrances.
Section 3.2
AUTHORITY:
The Seller has the right, power, legal capacity and authority to enter into and perform its respective obligations under this Agreement and no approvals or consents of any persons or entities are necessary in connection with it.
Section 3.3
CONTRACTS: Neither the Company nor the Seller is the party to any agreement, contract, or written understanding, which would prevent them from lawfully entering into this Agreement.
Section 3.4
FINANCIAL INFORMATION: Seller has delivered requested financial information regarding the Company and such financial information is true, complete, correct, and accurate, and there has been no material change in the financial condition of the Company.
Section 3.5
BOOKS AND RECORDS: The books and records of the Company, to be delivered to Buyer before Closing, are true, complete and accurate. The minutes book of the Company contains accurate and complete records of Board of Directors meetings held and corporate actions taken by the stockholders or by written consent, and no meeting of any such stockholders or Board of Directors has been held for which minutes have not been prepared and are not contained in such minute books. At the Closing, all of those books and records shall be delivered to the Buyer.
Section 3.6
TAXES: The Company has filed or caused to be filed tax returns that are or were required to be filed pursuant to applicable legal requirements as outlined in Section 1.3. The Company has paid, or made provision for the payment of, all taxes that have or may have become due pursuant to those tax returns
Section 3.7
NO MATERIAL ADVERSE CHANGE: Since the date of the initiation of negotiations regarding this Transaction, there has not been any material adverse change in the business, operations, properties, prospects, assets, or condition of the Company (financial or otherwise), and no event has occurred or circumstance exists that may result in such a material adverse change.
Section 3.8
DISCLOSURE: No representation or warranty of Seller in this Agreement omits to state a known material fact necessary to make the statements herein or therein, in light of the circumstances in which they were made, not misleading. There is no fact known to Seller that has specific application to either Seller or the Company (other than general economic or industry conditions) and that materially adversely affects the assets, business, prospects, financial condition, or results of operations of the Company that has not been set forth in this Agreement.
4
Section 3.9
OUTSTANDING STOCK: The Company has 59,499,364 shares of common stock issued and outstanding of which 30,140,936 are being delivered pursuant to this Agreement, 25,715,036 in certificate form and 4,425,000 in DTC which shall be transferred to the Buyer. Further, the Company has 1,000,000 shares of all classes of Preferred Stock issues and outstanding of which nine hundred thousand (900,000) are being delivered to the Buyer pursuant to this Agreement. There are no other shares of common or preferred stock outstanding as of the date of this Agreement.
Section 3.10
DEBTS: The Company has no outstanding debts, judgments, liens, encumbrances, UCC filings, notes, loans, convertible debt instruments (other than $243,474.00 that are identified in a certain Debt Purchase Agreement) or other financial obligations whatsoever, other than as mentioned in this Agreement herein. In addition, the remaining debt on the books and records of the Company is validly to be written off and not due and payable.
ARTICLE IV
REPRESENTATION AND WARRANTIES OF THE BUYER
Seller hereby represents and warrants that at the time of the execution of this Agreement and at the Closing thereof:
Section 4.1
POWER TO CONTRACT: The Buyer has the right, power, legal capacity and authority to enter into and perform its respective obligations under this Agreement and no approvals or consents of any persons or entities are necessary in connection with it. Buyer is not a party to any agreement, contract, or written understanding, which would prevent Buyer from lawfully entering into this Agreement.
Section 4.2
EAST COAST REALTY VENTURES, LLC: Buyer is the principal of East Coast Realty Ventures, LLC (hereinafter “ECRV”), a Nevada Limited Liability Company with current estimated assets of $6,000,000, estimated yearly profits of $1,500,000 and estimated yearly revenues of $11,000,000. Buyer shall contribute all of Buyer’s interest in ECRV, Clinton, LLC, ECRV Holding, Inc. and ECRV Fairfield, LLC.
Section 4.3
AUDIT & MERGER OF ECRV: Buyer shall direct that an audit of ECRV by a PCOAB-accredited Certified Public Accountant be completed on or before 71 days of closing.
Section 4.4
RETENTION OF PREFERRED SHARES: Buyer shall not convert the 900,000 shares.
Section 4.5
ANTI-DILUTION OF SELLER WITH RESPECT TO BUYER: Upon the tender of the Common Shares and 900,000 Preferred Shares to Buyer, the Seller shall have anti-dilution rights for the securities it possesses such that the Seller shall maintain its respective percentage ownership interest in the Company PARI PASSU with Buyer (ECRV) for a period of one (1) year from the date the Buyer has been tendered its controlling interest in the Company.
Section 4.6
SELLER’S FIRST RIGHT OF REFUSAL: If Buyer chooses to sell, gift, or assign his majority interest in the Company to a third party not affiliated with the Buyer or ECRV, the Buyer shall notify the Seller and the Seller shall, for thirty (30) days, have the exclusive right of first refusal to purchase the majority interest in the Company for the consideration stated in Section 1 of this Agreement. The rights and obligations in this Section 4.6 shall last for a period of one (1) year from the date of Closing.
5
ARTICLE V
RESIGNATION OF BOARD / NO SHOP PROVISION /
CONDUCT OF BUSINESS / CONFIDENTIALITY
Section 5.1
RESIGNATION FROM BOARD OF DIRECTORS, OFFICER POSITIONS AND EMPLOYMENT: Upon payment and assumption of debt, Seller shall appoint to the Board of Directors and Officers of the Company. Our Board shall then immediately resign from the Board of Directors and as Officers of the Company.
Section 5.2
CONDUCT OF BUSINESS: Seller has and shall continue conduct its business in the normal and ordinary course, consistent with the present conduct of its business and previous practices, shall not make and/or declare any dividend (cash and/or stock), redemption, stock split (reverse or forward), and/or stock and/or cash distributions.
Section 5.3
EXPENSES:
Each of the parties shall be responsible for their own expenses in connection with this Agreement and consummation of the Transactions contemplated hereby.
Section 5.4
CONFIDENTIALITY
: Each of the parties hereto agrees that it shall not use, or permit the use of, any and all of the information relating to the Seller or the Buyer, respectively, furnished to each other in connection with this Transaction (“Confidential Information”), except publicly available or freely usable material as otherwise obtained from another source, in a manner or for a purpose detrimental to the Seller or the Buyer, as the case may be, or otherwise than in connection with this Transaction. None of the Parties hereto shall, and each party shall cause its directors, officers, employees, agents, affiliates, and representatives not to, disclose, divulge, provide, or make accessible, or available, any and all of the Confidential Information, in whole or in part, to any person or entity, other than their respective and responsible officers, employees, advisors, or attorneys, or otherwise as required by law or regulation.
ARTICLE VI
INDEMNIFICATION
Section 6.1
INDEMNIFICATION BY SELLER: Seller shall indemnify, save, defend and hold harmless Buyer and its officers, directors and members from and against any and all damages, costs, liabilities, and expenses, of any kind whatsoever (including reasonable attorneys' fees) arising out of, or in connection with, (a) any and all operations, activities, and events, of and/or impacting the Company occurring prior to the Closing; (b) any and all breaches of this Agreement and the representations and warranties by Seller; and (c) any and all claims by a third party relating to Seller’s sole actions or inaction as the case may be or gross negligence occurring prior to the Closing; (d) any claim by any person or entity for brokerage or finder’s fees, or commissions, or similar payments, based upon any written agreement or written understanding alleged to have been made by any such person or entity with either Seller or the Company in connection with the contemplated Transaction or this Agreement; and (e) any obligations of the Company or the Buyers resulting from any debt owed by the Company (except as identified in Section 3.10 above).
Section 6.2
INDEMNIFICATION BY BUYER: Buyer shall indemnify, save, defend and hold harmless Seller from and against any and all damages, costs, liabilities, and expenses, of any kind whatsoever (including reasonable attorneys' fees) arising directly out of (a) any and all activities and/or operations of the Company and the Company’s subsidiaries conducted after the Closing; (b)
6
any and all breaches of this Agreement by Buyer; and (c) any and all claims by a third party relating to Buyer’s and/or the Company’s sole actions or inaction as the case may be or gross negligence occurring after the Closing; and (d) any claim by any person or entity for brokerage or finder’s fees, or commissions, or similar payments, based upon any agreement or understanding whether actual or alleged to have been made by any such person or entity with the Buyer or his affiliates in connection with the contemplated Transaction or this Agreement.
ARTICLE VII
THE CLOSING
Section 7.1
SELLER OBLIGATIONS:
At the Closing, Seller shall deliver to Buyer and their counsel:
(a)
The stock certificates representing the Common Stock and the Preferred Stock, registered in the name of Seller or third parties, endorsed for transfer to the Buyer or accompanied by one or more irrevocable stock powers duly executed by holder and medallion guaranteed to the Buyer in the name of the Buyer as well as corporate resolutions from the corporate entities authorizing the transfer of the Securities.
(b)
All books and records of the Company, including but not limited to, the Articles of Incorporation, as amended, bylaws, any corporate minute books and bank statements,
(c)
The resignations from the Board of Directors and appointment of new Board of Directors as required in Section 5.1 hereof.
(e)
All other instruments or documents as may be reasonably required to consummate the Transaction contemplated by this Agreement.
(f)
The Seller shall instruct the transfer agent of the Securities strictly in accordance with this Agreement at the direction and request of the Buyer, to provide for the Transactions contemplated herein.
Section 7.2
BUYERS’ OBLIGATIONS:
At the Closing, Buyer shall deliver to Seller the following instruments and documents:
(a)
Wire transfer in the amount of $153,750 to Seller.
Section 7.3
THE CLOSING. The Closing shall occur on or before February 8, 2008 and may be conducted via either the transmission of facsimile documents or scanned and emailed signed documents.
ARTICLE XIII
GENERAL PROVISIONS
Section 8.1
ASSIGNMENT: Neither the Seller nor the Buyer may assign or transfer their interest and/or rights under this Agreement without the prior written consent of the other.
7
Section 8.2
BINDING EFFECT: This Agreement shall be binding upon the parties hereto and their personal representatives, executors, heirs, beneficiaries, successors, and permitted assigns, if any.
Section 8.3
NOTICES:
Unless otherwise changed by written notice, any notice or other communications required or permitted hereunder shall be deemed given if sent postage prepaid, return receipt requested, addressed to the respective party at the address set forth on the signature page of this Agreement.
Section 8.4:
GOVERNING LAW:
This Agreement shall be governed and interpreted solely in accordance with the laws of the State of Maryland, and applicable U.S. federal law, if any, and in each case without regard to their choice of laws principles. All disputes shall be resolved in the Courts of either the State of Maryland or the Federal Districts residing within the State of Maryland.
Section 8.5:
LEGAL FORM: The parties hereto agree that they have been or have had the opportunity to be represented by counsel during the negotiation and execution of this Agreement.
Section 8.6:
ENTIRE AGREEMENT:
This Agreement embodies the entire agreement between the parties hereto with respect to the subject matter hereof, and supersedes all prior, and contemporaneous, negotiations, agreements, and understandings, whether written or oral. This Agreement, or any provision herein, may not be changed, waived, discharged, or terminated, except by an express written instrument signed by the party against whom enforcement of the change, waiver, discharge or termination is sought.
IN WITNESS WHEREOF, the parties have affixed their seal as of the date first mentioned above.
SELLER:
BUYER:
AIRPORT ROAD ASSOCIATES ONE, LLC
FREDERIC RICHARDSON
By:
\s\ Teresa Palumbo
\s\ Frederic Richardson
Teresa Palumbo
By: Frederic Richardson
Managing Member
President
8
SIGNATURES
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 hereunto duly authorized on this ___ day of March 2008.
PSPP HOLDINGS, INC.
By:
/s/Teresa Palumbo
Name: Teresa Palumbo
Title:
9
the significant 8K is the March 20 version
referred to in the recent 8K. It actually lays out the terms of sale and stock distributions. Read and see the non-dilution clauses for the players during the R/S announced.
Click on "filings" and go to page 2 and the "March 20 2008" filing.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=pspn
Current Capital Change
shs decreased by 1 for 100 split
Pay Date: Jun 2, 2008
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=PSPN
mastaflash on pre-mkt trades...
Those first 25 million shares traded were registed in Euros so it is Europe's exchanges showing up on our time/sales.
click on this link
then click on Company Info tab
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cbay
From the Pink Sheet site for those too lazy to click earlier:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cbay
One of you slouths dig down on the chopper site link below and report back...remembering that this is a family venue...
CBAY — Cal-Bay International, Inc.
Com ($.001)
Primary Venue: Pink Sheets
QuoteNewsChartsCompany InfoFilingsShort InterestInsider TransactionsInside Quote Best Bid Best Ask Time of Last Inside Change
Unpriced 0.0001 (50000 shares) 7:35 AM
Trade Data / Last Trade 1:37 PM Last Sale 0.00 Change -0.0001
% Change -100.00 Tick Down
Daily High 0.0001 Daily Low 0.00
Opening Price 0.0001 Volume 3,067,300
52 wk. High 0.0039 52 wk. Low 0.0001
Prev Close 0.0001 Dividend 0.00
Yield 0.00 Beta Coefficient 0.55
Trade data delayed 15 minutes.
Refresh All DataPink Sheets News Service No News Releases exist.
Other News Sources No News found.
Contact Information Business Description
Cal-Bay International, Inc.
10120 S. Eastern Ave
Suite 200
Henderson, NV 89120
http://www.beverlyhillschoppers.com
E-mail: info@beverlyhillschoppers.com
Beverly Hills Choppers and Beverly Hills Angels Apparel were created in the summer of 2003 by Johnny Fratto. The choppers were made "infamous" by Kim Stewart, daughter of rock icon Rod Stewart, when she crashed the bike on the red carpet of the Maxim Hot 100 party along side pal Paris Hilton. Threatened with a lawsuit from the two girls, Fratto rectified the situation by customizing two pink bikes for the girls who immediately started a new gang of out and about society girls called "Beverly Hills Angels?. This lead to the start of clothing line that when complete, will exude an attitude of luxurious rebellion.
Beverly Hills Choppers have been making star appearances on the Hollywood circuit since they were introduced in late ...
More >>
Disclosure Category
No Information
Primary SIC — Industry Classification
5040 - Wholesale-Professional & Commercial Equipment & Supplies
State Of Incorporation
NV
Jurisdiction Of Incorporation
USA
Company Officers
John Costello, CEO
Christopher LeClerc, CFO
SEC Reporting Status
De-Registered
CIK
0001142526
Fiscal Year End
12/31
Estimated Market Cap
799,500 as of May 21, 2008
Outstanding Shares
7,995,000,000 as of May 16, 2008
Authorized Shares
8,000,000,000 as of May 16, 2008
Number of Share Holders of Record
300 as of May 16, 2008
Float
3,000,000,000 as of May 16, 2008
Current Capital Change
shs decreased by 1 for 25 split
Pay Date: Dec 5, 2005
Company Notes
Formerly=Var-Jazz Entertainment, Inc. until 3-01
Transfer Agent
First American Stock Transfer
706 East Bell Road
Phoenix, AZ 85022-6642
Auditor/Accountant
Corso & Company
572 Shasta Drive
Encinitas, CA 92924
The information provided here has been obtained from publicly available sources as well as directly from issuers in some cases.
Click here to update your company profile.
Everybody wants a piece - pink choppers?...
CBAY — Cal-Bay International, Inc.
Com ($.001)
Primary Venue: Pink Sheets
QuoteNewsChartsCompany InfoFilingsShort InterestInsider TransactionsInside Quote Best Bid Best Ask Time of Last Inside Change
Unpriced 0.0001 (50000 shares) 7:35 AM
Trade Data / Last Trade 1:37 PM Last Sale 0.00 Change -0.0001
% Change -100.00 Tick Down
Daily High 0.0001 Daily Low 0.00
Opening Price 0.0001 Volume 3,067,300
52 wk. High 0.0039 52 wk. Low 0.0001
Prev Close 0.0001 Dividend 0.00
Yield 0.00 Beta Coefficient 0.55
Trade data delayed 15 minutes.
Refresh All DataPink Sheets News Service No News Releases exist.
Other News Sources No News found.
Contact Information Business Description
Cal-Bay International, Inc.
10120 S. Eastern Ave
Suite 200
Henderson, NV 89120
http://www.beverlyhillschoppers.com
E-mail: info@beverlyhillschoppers.com
Beverly Hills Choppers and Beverly Hills Angels Apparel were created in the summer of 2003 by Johnny Fratto. The choppers were made "infamous" by Kim Stewart, daughter of rock icon Rod Stewart, when she crashed the bike on the red carpet of the Maxim Hot 100 party along side pal Paris Hilton. Threatened with a lawsuit from the two girls, Fratto rectified the situation by customizing two pink bikes for the girls who immediately started a new gang of out and about society girls called "Beverly Hills Angels?. This lead to the start of clothing line that when complete, will exude an attitude of luxurious rebellion.
Beverly Hills Choppers have been making star appearances on the Hollywood circuit since they were introduced in late ...
More >>
Disclosure Category
No Information
Primary SIC — Industry Classification
5040 - Wholesale-Professional & Commercial Equipment & Supplies
State Of Incorporation
NV
Jurisdiction Of Incorporation
USA
Company Officers
John Costello, CEO
Christopher LeClerc, CFO
SEC Reporting Status
De-Registered
CIK
0001142526
Fiscal Year End
12/31
Estimated Market Cap
799,500 as of May 21, 2008
Outstanding Shares
7,995,000,000 as of May 16, 2008
Authorized Shares
8,000,000,000 as of May 16, 2008
Number of Share Holders of Record
300 as of May 16, 2008
Float
3,000,000,000 as of May 16, 2008
Current Capital Change
shs decreased by 1 for 25 split
Pay Date: Dec 5, 2005
Company Notes
Formerly=Var-Jazz Entertainment, Inc. until 3-01
Transfer Agent
First American Stock Transfer
706 East Bell Road
Phoenix, AZ 85022-6642
Auditor/Accountant
Corso & Company
572 Shasta Drive
Encinitas, CA 92924
The information provided here has been obtained from publicly available sources as well as directly from issuers in some cases.
Click here to update your company profile.
SCEY + 21% somethings up (again)
SCEY heating up again...
No anti dilution rights is good.../e
Progress report news...
Sun Cal Energy Provides Operational Update and Progress ReportLast update: 4/8/2008 9:00:22 AMSAN FRANCISCO, Apr 08, 2008 (BUSINESS WIRE) -- Sun Cal Energy, Inc. (OCTBB:SCEY) is pleased to provide an operational update on recent progress made in the last quarter. Sun Cal Energy achieved a number of important milestones within the last quarter. Most notable are the completion of an outstanding reserve analysis and drilling program by Schlumberger Data and Consulting Services on Sun Cal's Jonah Prospect, as well as the announcement of daily gas flow rates on the Sturgeon 1-11, and the Cunningham 1-02 well located on the Hobart Lease Prospect. "This quarter has been positive for our company. We feel that further development on our lease holdings will increase our company's fundamental value as we continue generating opportunities on our properties." - George Drazenovic, CFO of Sun Cal. Jonah Prospect -- Jonah Field, Wyoming The Jonah Prospect's 6000 acres consists of two parcels, with 2,477.68 acres in the South East Jonah Prospect and 3,546.89 acres in the West Jonah Prospect. A recent report released by Schlumberger Data and Consulting Services on the South East Jonah Prospect expressed the Estimated Ultimate Recoveries (EUR) on the prospect to be as high as 1.28 trillion cubic feet of natural gas. George Drazenovic commented on the report, stating: "We are extremely enthusiastic about the overwhelming reserve analysis conducted by Schlumberger. With the potential reserve estimations at 1.28 TCF, we are striving to make the South East Jonah Prospect the focus of our 2008 exploration program." The Jonah Field and the nearby Pinedale Anticline are acknowledged as the premier gas fields in the Rocky Mountains. These fields are located in Wyoming's Greater Green River Basin, and according to the Wyoming State Geological Survey, contain approximately 26 TCF of natural gas. Currently, British Petroleum, Ultra Petroleum, Yates Petroleum and Encana are among the major players working in this area with Encana the largest having operated over 300 wells. Hobart Lease Prospect, Anadarko Basin -- Washita County, Oklahoma Sun Cal currently holds a 1.5% Overriding Royalty Interest (ORRI) on 1211 acres within the Anadarko Basin of Oklahoma. To date, two successful commercially viable wells have been drilled on the prospect by Marathon Oil, with a combined flow rate of over 15MMCFD. Range Resources is currently permitting a third well on the Hobart lease which may begin as early as this year, and represents the opportunity for continued development and revenue growth on the Hobart Lease Prospect. Lokern Prospect, San Joaquin Valley -- Kern County, California Sun Cal Energy holds a 45% Working Interest (75% Net Revenue) in 400 acres of oil leases in the Kern County region comprising the Lokern Prospect in the San Joaquin Valley. The Lokern prospect will be a major focus for Sun Cal Energy in the future, as 2D and 3D seismic, and well data imply a reserve potential of 75 million barrels of oil (MMBO). The Elk Hills Field, just three miles South of Sun Cal's property has produced 92.8 MMBO and 117.9 billion cubic feet (BCF) of gas. Sun Cal plans to use hydraulic fracturing technology and possible horizontal drilling to test the commercial productivity of the proven hydrocarbons beneath the Lokern structure. Breton Sound Prospect, Deep Tuscaloosa -- Breton Sound, Louisiana Sun Cal holds a 5% WI with a 70% NRI in the 9440-acre Breton Sound Prospect. The average natural gas reserves per deep field in the Tuscaloosa are 250 BCF. Sun Cal is also looking at secondary targets, should they be successful, which could prove to represent significantly larger potential reserves of up to 5 trillion cubic feet (TCF) of natural gas. The drilling of a 21,000 foot test well is anticipated in 2008. "We are pleased with the multiple-project potential that the Breton Sound Prospect gives our company. Both the primary and secondary targets give significant reserve potential." -- Lewis Dillman, CEO of Sun Cal Energy. "83/84" Prospect, West Gomez Field -- Pecos County, Texas Sun Cal recently acquired a minority joint venture interest in a three well, multi-pay prospect in Pecos County, Texas. Located within the West Gomez Field, which has produced in excess of 5 trillion cubic feet of natural gas (TCF), the "83/84" Prospect sits inside one of the most prolific gas plays in the United States. The prospect, "83/84", consists of two re-entry wells, the Gulf-Baker 83 #1 (originally owned by Gulf and operated by Getty Oil Co.) and the Sibley 84 #1, as well as the new well, the Sibley 84 #2, on a 1,280 acre lease. Published production data and geological and engineering calculations estimate recoverable reserves to be more than 27 BCF of gas and 50,000 barrels of oil. Sun Cal's interest will be 2% while any cost over-runs will be assumed by the operator. "We are excited with our acquisition of the 83/84 Project in the West Gomez Field," said Lewis Dillman, CEO of Sun Cal Energy. "This acquisition is a part of a series of transactions within North America that will provide cash flow and enable the Company to continue to transition from exploratory activities to production." Centurion Prospect -- Texas, Oklahoma, Alabama, Louisiana and Mississippi Sun Cal Energy holds a 5% ORRI in 17,000 non-contiguous acres of producing Oil and Gas assets across Texas, Oklahoma, Alabama, Louisiana and Mississippi. The Prospect is comprised of 153 producing wells with well operators such as Exxon, Hunt Oil, and Quicksilver. To date, the cash-flow for the interest has increased to 19% per annum. In Q1 2008, Sun Cal received the first of its monthly cheques from the asset. Finance Sun Cal Energy has had success in securing financing, and has raised several million dollars in equity through Banque SCS Alliance, a large European-based Investment Bank. Given Sun Cal Energy's recent activities, the introduction of production revenues, and absence of debt on its balance sheet, Sun Cal Energy does not foresee any difficulty in securing further and future financing. Management Sun Cal Energy is committed to maintaining a diversified portfolio of assets, seeking strategic partnerships for its high impact prospects, and utilizing consultant advice from E & P industry leaders where applicable. Further Information Shareholders and prospective investors are encouraged to visit Sun Cal Energy's website: and download Sun Cal Energy's Investor Summary. Please feel free to call investor relations toll-free at 1-800-798-8334 to receive a full corporate investor's package. About Sun Cal Energy Inc. Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California. Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana, and the Green River Basin of Wyoming. Sun Cal Energy Inc. trades under the ticker symbol: SCEY - "Sun Cal Energy Inc. - Providing Energy Solutions to America." On behalf of the Board Lewis Dillman, President and CEO Forward-Looking Statements Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas resources, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission. Cautionary Note to U.S. Investors The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this news release, such as "prospective resources", "stock tank oil initially in place", "STOIIP", "likely recovery factors", "recovery factor" "prospective reserves", "prospective resource", "risk", "likely reservoir", "recoverable oil", "possible resource", "potential reserve" and "recoverable reserve potential that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10-KSB and quarterly reports on Form 10-QSB available from us or the SEC." This release contains information about adjacent properties on which we have no right to explore. We advise U.S. investors that the United States Securities and Exchange Commission's oil and gas guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that oil and gas deposits on adjacent properties are not indicative of oil and gas deposits on our properties. SOURCE: Sun Cal Energy, Inc.
Sun Cal Energy Inc.Lewis Dillman, CEO, 1-800-798-8334Investor Relationsir@suncaloil.comCopyright Business Wire 2008 Copyright © 2008 MarketWatch, Inc. All rights reserved. Please see our Terms of Use.
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SCEY might get a bump on news...
Sun Cal Energy Acquires Texas Drilling Prospect in the West Gomez FieldLast update: 4/7/2008 9:00:25 AMSAN FRANCISCO, Apr 07, 2008 (BUSINESS WIRE) -- Sun Cal Energy Inc. (SCEY), an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana and the Green River Basin of Wyoming is pleased to announce the acquisition of a minority joint venture interest in a three well, multi-pay prospect in the West Gomez Field within Pecos County, Texas. Having produced in excess of 5 TCF of natural gas, the West Gomez Field is one of the most prolific gas plays in the United States. The prospect, "83/84", consists of two re-entry wells, the Gulf-Baker 83 #1 (originally owned by Gulf and operated by Getty Oil Co.) and the Sibley 84 #1, as well as a new well, the Sibley 84 #2, on a 1280 acre lease in Pecos County, Texas. Based on published production data and geological and engineering calculations, recoverable reserves are estimated to be more than 27 billion cubic feet of gas and 50,000 barrels of oil. Sun Cal's interest will be 2% while any cost over-runs will be assumed by the operator. The 83/84 Project is adjacent to proven production properties operated by the world's leading oil and gas producers including Exxon Mobil Corp., Conoco Phillips Co., Chevron USA Inc., Hunt Oil Co., Chesapeake Operating Inc., Cimarex Energy Co. and Texaco Inc. Supported by a data review of the Composite Borehole Compensated Sonic Log from Schlumberger, Gamma Ray & Sidewall Neutron Porosity Logs, drilling and completion reports, and the production history in the area overall, the 83/84 Project could produce upwards of 6,500 MCFGPD and 80 BOPD. The target spud date is expected within weeks. Based on extensive reservoir analysis, and recent field data, the Gulf-Baker 83 #1 and Sibley 84 #1 will be re-worked and completed to the total depth of 22,820 feet while the Sibley 84 #2 will be drilled to a total depth of 4,000 feet. The main objectives will be the Fusselman, Devonian, Lower Wolfcamp, Upper Wolfcamp, Atoka and Yates/ 7 River sands. The majority of wells in this field have produced or booked remarkable reserves out of these horizon intervals. Lewis Dillman, CEO of Sun Cal Energy, Inc., states: "We are excited with our acquisition of the 83/84 Project in the West Gomez Field, and to build on the successful results of similar prospects, particularly the Hobart Prospect in Oklahoma and the Centurion Property. This acquisition is a part of a series of transactions within North America that will provide cash flow and enable the Company to continue to transition from exploratory activities to production. This acquisition follows our continued, disciplined strategy to target low risk, high impact properties in North America while also allowing the Company to continue its development activities in the prolific Jonah Field in Wyoming, the Breton Sound in Louisiana, and Lokern in California." The operator, Stratco Operating Company and Lakehills Production, have recently completed successful re-entry programs in the nearby West Gomez Gas Unit and the Spears Gas Unit. The principal, Tom Stratton, has operated over 800 wells, and during 1974-1977, worked on the development of the West Gomez field for Texaco. The Geologist on the project, Mark Holtz, is one of the foremost authorities on this region and has authored many books and articles for the Bureau of Economic Geology of the University of Texas on the characteristics, structures, and production prevalent in the West Gomez Field. "We will continue to consider acquisitions that allow the Company to grow at a sustainable pace," stated Lewis Dillman. "While adding to our portfolio of assets, we are also keenly pursuing the recommendations of the Schlumberger report regarding the Jonah Prospect in Wyoming and thus providing our shareholders greater exposure to one of North America's fastest growing natural gas fields." Further Information Shareholders and prospective investors are encouraged to visit Sun Cal Energy's website: and download Sun Cal Energy's Investor Summary. Please feel free to call investor relations toll-free at 1-800-798-8334 to receive a full corporate investor's package. About Sun Cal Energy Inc. Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California. Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana, and the Green River Basin of Wyoming. Sun Cal Energy Inc. trades under the ticker symbol: SCEY - "Sun Cal Energy Inc. - Providing Energy Solutions to America." On behalf of the Board Lewis Dillman, President and CEO Forward-Looking Statements Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas resources, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission. Cautionary Note to U.S. Investors The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this news release, such as "prospective resources", "stock tank oil initially in place", "STOIIP", "likely recovery factors", "recovery factor" "prospective reserves", "prospective resource", "risk", "likely reservoir", "recoverable oil", "possible resource", "potential reserve" and "recoverable reserve potential that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10-KSB and quarterly reports on Form 10-QSB available from us or the SEC." This release contains information about adjacent properties on which we have no right to explore. We advise U.S. investors that the United States Securities and Exchange Commission's oil and gas guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that oil and gas deposits on adjacent properties are not indicative of oil and gas deposits on our properties. SOURCE: Sun Cal Energy Inc.
Sun Cal Energy Inc.Lewis Dillman, CEO, 1-800-798-8334 (Toll Free)Investor Relationsir@suncaloil.comCopyright Business Wire 2008 Copyright © 2008 MarketWatch,
NEWS...
Sun Cal Energy Acquires Texas Drilling Prospect in the West Gomez FieldLast update: 4/7/2008 9:00:25 AMSAN FRANCISCO, Apr 07, 2008 (BUSINESS WIRE) -- Sun Cal Energy Inc. (SCEY), an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana and the Green River Basin of Wyoming is pleased to announce the acquisition of a minority joint venture interest in a three well, multi-pay prospect in the West Gomez Field within Pecos County, Texas. Having produced in excess of 5 TCF of natural gas, the West Gomez Field is one of the most prolific gas plays in the United States. The prospect, "83/84", consists of two re-entry wells, the Gulf-Baker 83 #1 (originally owned by Gulf and operated by Getty Oil Co.) and the Sibley 84 #1, as well as a new well, the Sibley 84 #2, on a 1280 acre lease in Pecos County, Texas. Based on published production data and geological and engineering calculations, recoverable reserves are estimated to be more than 27 billion cubic feet of gas and 50,000 barrels of oil. Sun Cal's interest will be 2% while any cost over-runs will be assumed by the operator. The 83/84 Project is adjacent to proven production properties operated by the world's leading oil and gas producers including Exxon Mobil Corp., Conoco Phillips Co., Chevron USA Inc., Hunt Oil Co., Chesapeake Operating Inc., Cimarex Energy Co. and Texaco Inc. Supported by a data review of the Composite Borehole Compensated Sonic Log from Schlumberger, Gamma Ray & Sidewall Neutron Porosity Logs, drilling and completion reports, and the production history in the area overall, the 83/84 Project could produce upwards of 6,500 MCFGPD and 80 BOPD. The target spud date is expected within weeks. Based on extensive reservoir analysis, and recent field data, the Gulf-Baker 83 #1 and Sibley 84 #1 will be re-worked and completed to the total depth of 22,820 feet while the Sibley 84 #2 will be drilled to a total depth of 4,000 feet. The main objectives will be the Fusselman, Devonian, Lower Wolfcamp, Upper Wolfcamp, Atoka and Yates/ 7 River sands. The majority of wells in this field have produced or booked remarkable reserves out of these horizon intervals. Lewis Dillman, CEO of Sun Cal Energy, Inc., states: "We are excited with our acquisition of the 83/84 Project in the West Gomez Field, and to build on the successful results of similar prospects, particularly the Hobart Prospect in Oklahoma and the Centurion Property. This acquisition is a part of a series of transactions within North America that will provide cash flow and enable the Company to continue to transition from exploratory activities to production. This acquisition follows our continued, disciplined strategy to target low risk, high impact properties in North America while also allowing the Company to continue its development activities in the prolific Jonah Field in Wyoming, the Breton Sound in Louisiana, and Lokern in California." The operator, Stratco Operating Company and Lakehills Production, have recently completed successful re-entry programs in the nearby West Gomez Gas Unit and the Spears Gas Unit. The principal, Tom Stratton, has operated over 800 wells, and during 1974-1977, worked on the development of the West Gomez field for Texaco. The Geologist on the project, Mark Holtz, is one of the foremost authorities on this region and has authored many books and articles for the Bureau of Economic Geology of the University of Texas on the characteristics, structures, and production prevalent in the West Gomez Field. "We will continue to consider acquisitions that allow the Company to grow at a sustainable pace," stated Lewis Dillman. "While adding to our portfolio of assets, we are also keenly pursuing the recommendations of the Schlumberger report regarding the Jonah Prospect in Wyoming and thus providing our shareholders greater exposure to one of North America's fastest growing natural gas fields." Further Information Shareholders and prospective investors are encouraged to visit Sun Cal Energy's website: and download Sun Cal Energy's Investor Summary. Please feel free to call investor relations toll-free at 1-800-798-8334 to receive a full corporate investor's package. About Sun Cal Energy Inc. Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California. Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana, and the Green River Basin of Wyoming. Sun Cal Energy Inc. trades under the ticker symbol: SCEY - "Sun Cal Energy Inc. - Providing Energy Solutions to America." On behalf of the Board Lewis Dillman, President and CEO Forward-Looking Statements Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas resources, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission. Cautionary Note to U.S. Investors The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this news release, such as "prospective resources", "stock tank oil initially in place", "STOIIP", "likely recovery factors", "recovery factor" "prospective reserves", "prospective resource", "risk", "likely reservoir", "recoverable oil", "possible resource", "potential reserve" and "recoverable reserve potential that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10-KSB and quarterly reports on Form 10-QSB available from us or the SEC." This release contains information about adjacent properties on which we have no right to explore. We advise U.S. investors that the United States Securities and Exchange Commission's oil and gas guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that oil and gas deposits on adjacent properties are not indicative of oil and gas deposits on our properties. SOURCE: Sun Cal Energy Inc.
Sun Cal Energy Inc.Lewis Dillman, CEO, 1-800-798-8334 (Toll Free)Investor Relationsir@suncaloil.comCopyright Business Wire 2008 Copyright © 2008 MarketWatch,
PSPJ worth a watch
Island reversal setup /e