Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Ping so you cant come up with anything except this which happened over 25 years ago, and has nothing to do with the issue here.
Now Energy Drilling is suing Virtus, in a long line of customers each of whom ended up in court with this company.
If it was not for this drilling contractor, this well would have been drilled but just like all the previous ones, each one ends up in court. Maybe there is a pattern here ?
Who is Tariq Ahmad
Ping just start shoring Pacific Energy stock, good luck with that
If virtous had taken advice from me, they would not have hired Gary and his drilling company and they would not be in this mess. Since you just became a member of investors hub and started out with the litigation between Virtous and so called drilling company it is obvious you are working for Gary.
If you read all my posts it is obvious I insisted that Virtous check out this drilling contractor.
Good luck
They have a good project, but had a drilling contractor who is a jerk. The vehicle is also good. They just have to drill another well up structure from the current location to really test the structure.
Gary and his minions will see that ripping off companies will end up in justice, lying in court does not pay gary. Ripping off this company will not pay.
This time you have gone to far. Justice May be slow but it will catch up. Posting crap on this site is just like Gary.
Virtus got screwed by Gary smith, but they did find an oil field
Yea sure, Gary the Victim.
Shows virtus paid 130000 to gary smith, but does not show how much was paid in total under subsequent events.
The Sept 30 10 Q should be interesting. Begining of the End, when you hang out with Gary you get betten
I am not sure what horizontal wells need to be drilled at this prospect, this was supposed to be analogous to the Covenant field which is composed of vertical wells. You drill horizontal wells in formations which have low porosity and permeability.
Here the reports showed extremely high porosity, therefore there is no need for horizonal well
The is no oil at least for 50 miles
That is o ly if u have oil to begin with. No oil here
Virtus Oil And Gas: Behind The Scenes Of Filipino 'Boiler Rooms' And Paid Advertisements
Nov. 12, 2014 9:11 AM ET | 15 comments | About: Virtus Oil and Gas Corp. (VOIL), Includes: ASUV, GFOX, LSTG
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
Summary
Swiss straw men and the Marshall Islands.
A history of pump and dumps.
Failed resource reports.
Real world prospects in Iron County, Utah.
Please allow me to preface this article by saying that I usually do not go after oil and gas plays, as they are quite difficult to dissect; much like a biotech play with an upcoming binary event. The stock price can be held up far longer than most of your typical pumps, because "investors" are waiting for the "life-changing" binary event to occur, whether it be trial results in the case of a biotech or the spudding of a well in the case of oil and gas. It is all or nothing, and proving a case one way or another is difficult at best.
Hence, the binary event can often become like betting on red or black in Vegas, which is something that I abhor. As an investor or a trader, it is your job to skew the odds in your favor as much as possible and to stay away from the 50/50 plays. All of this being said, I believe that there is enough information out there to make a pretty strong case against Virtus Oil and Gas Corporation's (OTCQB:VOIL) chances of finding any oil in Iron County, Utah. With boiler-room-like tactics and hard mailers with material omissions being used to entice people to buy VOIL stock, it is my opinion that the binary event will either never occur or occur and be a complete and utter failure. In either case, I believe the stock will go to near zero in time ... and this is why:
As always, start from the beginning. Many times, if you look at who was instrumental in putting together the original shell, then you can get an idea of the guiding influences at work behind the scenes. So, let's start with VOIL's S-1 filing.
Notice the names Rene Berlinger and Victor Gallus and notice that they received a large number of initial shares.
This is the same Rene Berlinger who signed the documents for Rooftop Investment Ltd, a Marshall Islands entity that did a nice financing package with Gray Fox Petroleum (OTCQB:GFOX) before that stock received a whole lot of pumping via notorious some-would-say-scammers like Tobin Smith before tanking. You might remember Tobin as a member of Fox News before he was fired for pumping penny stocks. Rene was tied to US Farms, another penny stock that was the subject of SEC scrutiny involving illegal kickbacks, and was also a consultant to Harmonic Energy (OTCPK:ASUV). ASUV also received a lot of pumping before tanking into oblivion. You can read that story here.
ASUV was also pumped by "The Myers Letter", which is the side-show in another story about which you will soon read.
If you want detailed info regarding the Swiss master of puppets that is Rene Berlinger, then I suggest you familiarize yourself with this piece from PrePromotion Secrets, as we will revisit Mr. Berlinger in a few minutes.
Before we get into Victor Gallus, aka Viktor Gallus, it is important to consider the old adage that "you are the company you keep" or perhaps "birds of a feather flock together." In any instance, allow me to deviate from VOIL for a moment so that you can fully appreciate what goes on behind the scenes.
In order to better understand Victor Gallus, you must first know that he was part of an SB-2 filing relating to Hemis Group / Tecton Corp.
Hemis Group (OTCPK:HMSO) was a bad pump and dump run by Norman Meier, while Tecton Corp was part of an illegal kickback FBI undercover sting operation. You can read the SEC release here.
HMSO had a consulting agreement with Battle X, which was signed by Viktor Gallus. Victor Gallus is also the controller of Desperado Ltd, which is also tied to Meier.
This is important because as a penny stock investor you need to know about the infamous, Swiss-born, Norman Meier, aka Norman V Meier, aka Victor Burrell-Meier, son of Edwin Meier.
Now, if you want to go read about Norman Meier, his father, the alleged international rings of boiler rooms, frauds, scams, pump and dumps, FINRA problems, etc., then be my guest. It is a worthy investigation. Just Google things like: "Norman V Meier" and scam.
Wow latest press on website, the so called engineer first states there were no faults, then states the high pressure caused the well to deviate, now says fault with traces of oil.
what a scheme, add Phillipine boiler rooms, Energy Drilling, Gary Smith it makes for a great story
Guess u did not read the articles posted earlier.
I thought the SEC might want to know about this pump and dump deal, the registration of the BS shares is what financed this. Gary was part of this crazy deal. Seems that Phillipine boiler rooms were old news but they are still there.
Criminal investigation probably will start soon
The engineer on loc stated no fault he quoted veologist. What happened only the maanavement knows. Apparently smith wanted more money as usual and the well waz not drillex to td. So sad these guys were warned about gary
Engineers Statement:
"Based upon geologic samples and the formation tops encountered, a decision was made to drill the well shallower than originally planned. During the course of drilling the drill bit continued to deviate and build angle more than expected due to a fault in the subsurface. We decided it was better to drill a shallower pilot well and identify all potential formation tops and correlate this with the seismic the Company has purchased and interpreted in 2014. The data acquired from this test well is valuable and it is encouraging that oil traces were discovered at the Virtus Lone Pine confirming that is was not a dry well
so according to this great engineer, every well with trace of oil is not a dry hole, if that was true there would be no dry holes anywhere, heck there is some trace of oil on top of a structure just from migration.
If this is not a dry hole than are they going to produce it. The SEC definition of this well is that this is a dry hole.
So this is a dry hole. Even the Geologist states he had only a trace, so guys, more pump and dump.
The Sand Stone is good quality but no oil. Great Work ripping off the investors
No more posts on the drilling reports?
Gary Smith gets more money the slower the drilling goes, he will make sure nothing works, than ask for more money.
Porosity does not show up below 5020 as the geologist probably did not measure the same. But it does not matter, there are no oil shows in the Navajo.
Really feel sorry for the company as they go taken by Smith. It is already over 13 days since spud, budget was for 7 days of drilling. Reports show, Smith has problems with the BOP with his rig, normal for Smith, than he charges for the days
Chris I got your message whats up
Wonder if Gary Smith has yet asked for a wire transfer or he will quit drilling
Drilling reports don't show much. Bet the total cost is already over 700'000 dollars. Mud logs show no oil or gas in Navajo
The cpany is trying. I feel sorry for these guys getting involved with smith
The press release stated the well was spud on August 25th, today is September 9th, it is already over 14 days, Gary Smith is charging for all this time.
The well is at 5000 feet 25 feet per hour. So they have at least 5 more days to go, if Energy Drilling rig works, that is a big question, already the reports show, problems with equipment.
Over Budget already, this wont be over until the end of this month, the cost of the well will probably be over 100% over budget, that is the normal with Smith
Budget showed 7 days, started last week August 31, seven days already over. Apparently the management of Virtus did not understand how Gary Smith works.
BOP not working excuses all the while Smith collects billings
So what happened, still sucks
Registered all the shares issued, now dumping to the public, these guys are amazing first gary smith to drill a well with so called rig 8. And now making bs pr.
Pump and dump. Just read the sale.
Energy Drilling LLC, Gary Smith and now Voil, what a combo
Not a single response to all the information posted. Nothing from management as to their investigations.
Reporters will be calling soon
https://www.rfcexpress.com/lawsuits/other-fraud/utah-district-court/930277/dean-h-christensen-v-gerald-k-smith-robert-jennings-ray-ash-austin-smith-and-rod-esson/summary/
The sales guy for Energy Drilling is Robert Jennings, he was a principal in a 54 million dollar ponzi scheme and was banned by the SEC. This was in 2008-2010.
http://www.westmoorereceivership.com/recentdevelopments.html
Rig 8 is not owned by Energy Drilling LLC, rather Energy Drilling LLC is a shell company that is used by these. Gary Smith is really Gerald K. Smith, he was found in criminal contempt of court when he tried to hide assets from the court.
Press release states Energy drilling drilled 5 wells with Rig 8, three were drilled in Colorado for which Gary Smith was sued for fraud by the operator. Overland Resources and Ranch oil company. http://dockets.justia.com/docket/colorado/codce/1:2012cv02882/136556
The Tool company Hi Tech Tools sued Gary Smith and finally got paid they are located in Farmington NM.
In the middle of a oil boom no one would hire them since March 2012.
Rod Esson formerly of Enhanced Oil Resources Inc. is the actual owner of the equipment under a couple of partnerships. His company with the similar name Energy Drilling Servics LLC owns the equipment. These guys are notorious for demanding funds in the middle of drilling or threaten to pull out. In fact Energy Drilling was fired by a company in the shale play last year for pulling these stunts. Hope the operator will contact all operators that this company has worked for in the past two years
Great maybe someone needs to tell the company that they just signed an agreement with a drilling contractor who is involved in multiple lawsuits
The former chairman took the bucks and now pretends to retire and continue his criminal activities. Living the good life on shareholders money. Sued for rackerteering.
Having Phillipino director, great sign of a pump and dump call center deal
yea pump and dump, a real thing for the feds to look for
Ask the SEC and FBI if there is an investigation