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PERMITS AND LEASES IN ALASKA
My brother has done all the research on this matter relating to the Kircher #1.
The State AOGCC permit expired in May of 2010 and was issued to Fowler Oil & Gas Corporation. There is a link to the status of issued permits on the AOGCC website.
There were many additional permits from various state and federal agencies linked to this application that expired along with it.
The most CRITICAL was the Matsu Borough permit that was issued to Fowler Oil & Gas Corporation on Oct 3, 2007 and expired on Oct 3 2012. There is no link to the status of this permit. You just have to call the Borough and ask.
He called the Kircher family and they told him that their leases with Fowler Oil & Gas Corporation expired in the summer of 2008 since no extension fees were paid which would have extended them to the summer of 2010. Since they didn't receive the fees the leases were cancelled in 2008.
It is quite obvious that they may have intentionally been misleading their own investors, potential investors, creditors, Zack's and the SEC.
Hopefully, this clarifies the situation for all involved.
NO PERMITS IN ALASKA ANYMORE. I just received a call from my brother who lives in Anchorage and has been following this saga (He calls it the Abbot & Costello Show). He checked with the State Permitting Agency (AOGCC), all of the other agencies that require permits for oil and gas permits (both federal and state) and with the Matsu Borough and ALL of these permits have expired and will not be automatically renewed. And no new applications have been submitted.
He also checked with the Kircher family, who leased most of the land and mineral rights to Fowler Oil & Gas Corporation (purchased by NAEG)for the Kircher #1, and all of these leases expired in 2008-09.
So we now know with certainty that NAEG now DOES NOT have any interest in any cbm natural gas projects in the Cook Inlet Basin in Alaska.
They should just "fess up" and not mislead their shareholders, creditors and regulatory agencies any longer. I for one, as a small shareholder, want to hear facts and not fiction to help determine if I will ever get my money back on the POS company.
Sorry, I don't know if an investigation is going on. It would appear to be since they referred the inquiry to the FBI.
Montana Leases & the FBI
I have a friend in Texas who is a shareholder in NAEG who called and told me that he called the Montana Board of Oil & Gas and asked if their drilling bonds and permits were still active. He was told to call the FBI for information on the NAEG wells.
GAS LEASES IN ALASKA.
My brother from Anchorage just called to tell me that all of the Kircher #1 leases expired in the early fall of 2010. He checked with the Mat-Su Borough where they are on file and was also told that the Borough drill permit is currently under review for revocation since the underlying leases have expired.
Funny that Abbot and Costello neglected to tell us this, or even put it in their SEC filings.
Alaska Superior Court Palmer District
Case# 3PA-10-01549CI
Defendant: Native American Energy Group
Plaintiff: Mat Valley Properties
Civil Action
Anyone can request copies for a small fee from:
Clerk of Court
435 South Denali Street
Palmer, AK 99645-6437
907-746-8109
FAX 907-746-4151
Your written request for copies should include:
* the names of the parties
* the case number
* the case type (for example: civil, criminal, probate)
* your name
* your address
* your phone number
Speaking of Lawsuits
My brother in Anchorage just reviewed the court documents for the Alaska lawsuit and said it is for about $2.2 million with a request for punitive damages of 3x this amount. So this is a potential judgment of almost $9 million!
Add the shareholder lawsuit of over $2 million (maybe punitive damages as well) and where would they get the money to pay both of them.
It looks like BK to me.
Here are the results from some more Googling I did on Fowler.
www.alaskacbmgas.com
These are really good articles he wrote about Cbm Gas. Wish I could talk to this guy but my brother tried and said he was not willing to discuss past issues relating to NAEG. He did talk about the future of cbm gas and what he is planning but that is another chapter.
Here is the link for Fowler from Google.
www.fowlernaturalresources.com
ANCHORAGE DD. I WILL TRY AGAIN
My brother said that he couldn't agree more with Onemaninnj since he lives there and knows quite a lot about the original permitting process for the Kircher #1. It was a VERY HIGH PROFILE project.
Fowler was the key person who worked for almost 2 years to get the permits needed to drill for cbm gas in the Matsu Valley. This was following the Evergreen Energy fiasco when they were "run out of town". He worked with the local enviro groups and they testified at the permit hearings in favor of the project. And NAEG did not participate in this process at all. Fowler's family has been the Valley forever so their reputation must have contributed to the approval of the permits.
This was a huge event when the permits were granted and was written up in the Anchorage Daily News and the Petroleum News.
Then after the blowup between Fowler and NAEG in the summer of 2009 the permit was never used by NAEG and expired.
What a waste of a valuable permit. I guess this is just another example of the dreams of Abbott & Costello that never turn into reality.
It would interesting for Shining Star to explain why he deleted my recent post regarding DD comments that my brother made about Fowler and NAEG. Were these offensive comments Shining Star or do you not like to hear another side to your story?
The Kircher #1 drill permit has expired.
Thanks for the info. My brother contacted the AOGCC in Anchorage today and they confirmed that the Kircher #1 permit has expired and cannot be renewed.
They also confirmed that NAEG does not hold any other oil or gas drilling permits.
Another grand plan of Abbott & Costello up in smoke.
OOPS !
It appears that the current bid price of (0.0002)is now reflecting all the legal turmoils that the company is now involved in as well as the possibility of a Chapter 11 filing very soon.
Does Anyone Know??
I think I will do some DD on their purported Alaska operations through my brother who is an attorney in Anchorage.
1)Does anyone know the names of any of their wells and locations?
2)How about drill permits?
3)Where is their office?
Bankruptcy Soon?
Well with all the lawsuits and the latest suspension I predict that they will file for bankruptcy soon. Then they will hope that they can convince the trustee and judge that they are worth a reorganization under Chapter 11 but that will be very difficult based on their track record. If the trustee suspects any funny business he will call in the FBI to investigate.
Why in the world would a CFO use so many names? Tejbir Singh, Raj Nanvaan, Richard Powers and Raj Anderson. Food for thought. hmm
http://www.sec.gov/litigation/admin/34-50348-o.pdf
LETS KEEP NAEG IN PERSPECTIVE !
1) they are charged with a $2 million plus fraud in the New York lawsuit 2) they are charged with breach of contract in the huge Alaska lawsuit 3) the Ft Peck Tribe decided to work with another company, not NAEG (see link posted earlier), 4) they were thrown off the reservation in the Dakotas where they were going to mine uranium 5) none of their affordable housing projects were ever started 6) they wiped out all their smaller shareholders with the 10,000:1 reverse split and now 7) trading has been suspended again which can only come from the SEC.
It is hard to comprehend why any of us on this forum would regard NAEG as a good investment and would believe in Abbot & Costello to lead the parade. We all hope for a miracle that can keep this ship afloat and save out investments but unfortunately it has already sunk.
What has who done?
Here is an interesting article. It looks like the Ft Peck Tribe does not want to work with NAEG anymore. And Raj and Joe have been hyping up the Ft Peck oil for so many years. I googled the new company and they are not associated with NAEG in any way. Another busted idea from the Abbott and Costello show.
http://fortpeckenergy.com/images/042109_Reuters.pdf
The court documents say it is a default on a large office lease in Alaska
Here is another lawsuit that has just popped up
http://www.courtrecords.alaska.gov/pa/pa.urd/pamw2000.o_case_sum?64127916