FREEDOM 51 !!!!!!!!!!!!!!!!!!!!!!!!
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Adira Energy awarded significant interest in new petroleum license offshore Israel
2010-06-17 14:38 ET - News Release
FRANKFURT: AORLB8; OTCBB: ADENF
TORONTO, June 17 /CNW/ - ADIRA ENERGY LTD. (OTCBB: ADENF; FRANKFURT: AORLB8). Adira Energy Ltd. ("Adira Energy" or the "Company") is pleased to announce that the Israeli Petroleum Commissioner's office has notified the Company that, during the most recent sitting of the Israeli Petroleum Board, a consortium led by Adira Energy was awarded a petroleum license offshore Israel (the "Samuel License").
Adira Energy holds a combined minimum interest of 38.25% in the Samuel License held through subsidiaries Adira Oil Technologies Ltd. (100%) and Adira GeoGlobal Ltd (60%).
The other consortium members are comprised of GeoGlobal Resources (India) Inc., Brownstone Ventures Inc., and Pinetree Capital Ltd.
A gross overriding royalty in an amount equal to 3% shall be granted to and registered in the name of Adira GeoGlobal Ltd.
Adira GeoGlobal Ltd. and GeoGlobal Resources (India) Inc have been designated as joint Operators of the Samuel License. Adira GeoGlobal Ltd. shall be paid an aggregate operating fee equal to 7.5% of the cumulative direct costs incurred in connection with operating the Samuel License.
About the Samuel License
The Samuel License area is located adjacent to the coast of Israel and runs between Ashkelon and Bat Yam. The Samuel License is contiguous and south east of the Company's Gabriella License. The license area is in shallow water with many of the key targets in less than 100 meters of water. Shallow water drilling significantly decreases drilling costs and operating risks and allows the Company to make use of jack up rigs. The prospects are located along the existing Mari B pipeline and close to shore providing a significant cost and time savings in the full development of this prospect. The Samuel License has been granted for an initial period of three years.
Jean Paul Roy, CEO and President of GeoGlobal Resources group and a joint executive of Adira GeoGlobal Ltd stated: "GGR is excited to work with Adira Energy as joint Operators on the Samuel License. We have found unbreached paleo structures within the Laventine Basin. Direct Hydrocarbon Indicators on numerous 2D seismic lines suggest the 3D program will define the limits of resource within a high data quality region of the basin. This near shore license has several high valued prospects structurally folded beneath it."
Mr. Roy and his technical team have engaged primarily in the pursuit of petroleum and natural gas through exploration and development in India (both on and off shore blocks). Mr. Roy has in excess of 28 years of geological and geophysical experience in basins worldwide as he has worked on projects throughout India, North and South America, Europe, the Middle East, the former Soviet Union and South East Asia.
Adira Energy's Chief Executive Officer, Ilan Diamond stated: "We are delighted that the Petroleum Board has decided that Adira Energy Ltd., together with its partners, GeoGlobal; Pinetree Capital and Brownstone Ventures, have qualified financially and technically to develop this very prospective offshore block despite the competition and strict qualification criterion in place. Since Adira's inception, we have been at the forefront of the burgeoning Oil & Gas sector in Israel. We look forward to commencing our 3D acquisition program later this year and if warranted, drilling our first offshore exploration well during 2011."
About Adira Energy Ltd.
Adira Energy Ltd. explores for oil and gas in and offshore Israel. It has four petroleum exploration licenses; Eitan, Gabriella, Yitzhak and Samuel. These licenses are located respectively on-shore in the Hula Valley of Northern Israel, 10 km offshore between Netanya and Ashdod,17 km offshore between Hadera and Netanya and adjacent to the shore between Ashkelon and Bat Yam. The company also has a 70% participation right in the Notera license in the Hula Valley.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
CDSI Always a good sign seeing the mm's lineup like this... an even better sign that stock is getting picked up at the ask especially with a spread this wicked....
U:TGFN iDev3 Launches the Industry's First Mobile Application Incubator in the US?
From: Stockwatch News (newsout@stockwatch.com)
Sent: May 20, 2010 2:00:42 PM
To: Stockwatch News (veteran98@hotmail.com)
iDev3 Launches the Industry's First Mobile Application Incubator in the US
Ticker Symbol: U:TGFN
iDev3 Launches the Industry's First Mobile Application Incubator in the US
Start up Seeks to Equitize the Mobile Applications Market
PR Newswire
NEW YORK, May 20
NEW YORK, May 20 /PRNewswire/ -- iDev3, a mobile applications incubator, has officially launched the Web's first mobile applications cooperative in the US. The company was created to reward smaller and independent mobile application developers by 'equitizing' their investment in their own intellectual property, allowing them to become part of the larger parent company TGFin Holdings (OTC Bulletin Board: TGFN) and therefore diversify their risk. iDev3 specializes in Apple's iPhone applications by trading stock from the parent company for the app's intellectual property and a share of the revenue of the application.
"We had a specific vision for iDev3: to diversify the rich intellectual property of mobile application developers," said Sam Gaer, Founder and CEO of iDev3. "iDev3 is the first company that increases the revenue potential for the mobile applications market by making developers and our company a marketable force rather than that of a standalone mobile application."
The first line of applications available for sale on iTunes and through iDev3 are SportsCast? Soccer, SportsCast? Baseball and SportsCast? Basketball. iDev3 funded the development, marketing and incubation of all three SportsCast? applications. This mutually beneficial ecosystem of mobile applications is already resulting in larger profit margins for all parties involved.
TechCrunch recently published a study that claims the mobile application marketplace could grow from a $1.94 billion business in 2010 to a $15.65 billion business in 2013. The study also predicts the Smartphone user base to grow from 100 million to 1 billion in that same time frame. With this growth rate of 807%, iDev3 adds a profitable layer to an already fast-growing mobile marketplace.
About iDev3
iDev3 is a mobile application incubator founded in 2010 by Sam Gaer, the former CIO of the New York Mercantile Exchange. iDev3 strives to equitize the mobile applications market by trading developers' intellectual property for stock in TGFN, iDev3's public parent company. By capitalizing on the notion that strength is in numbers, iDev3 is a mobile application incubator of marketable intellectual property and an ecosystem of mutually beneficial financial rewards. iDev3 is located in New York City. For more information, please visit http://www.iDev3.com.
SOURCE iDev3
2010-05-11 19:15 ET - News Release
OTC SYMBOL: HIPCF - (OTC:BB)
VANCOUVER, May 11 /PRNewswire-FirstCall/ - HIP Energy Corporation (OTC:BB - "HIPCF") (the "Company") is pleased to announce that it has closed on two separate private placements each at the offering price of $0.25 per share for total combined aggregate proceeds of $1,129,000. The first placement was for $629,000 representing 2,516,000 common shares and the second for $500,000 representing 2,000,000 common shares. As a condition of the second $500,000 placement, the placee has contractually committed and agreed to provide additional funding to the Company of $2,000,000 at a price of $0.50 per share if the Company achieves 30 consecutive days of average daily oil production (or gas equivalent) of an average of 100 bbl oil per day for 30 consecutive days from five well bores using the HIP Downhole Process Technology; and $4,000,000 at $1.00 per share if the Company achieves 30 consecutive days of average daily oil production (or gas equivalent) of 200 bbl per day from 10 wells using the HIP Downhole Process Technology excluding any production from the initial five production wells.
The proceeds from the private placements are intended to be used to allow the Company to proceed with the development of its well development program using the HIP Downhole Process Technology and for general working capital.
Appointment of Additional Officer:
The Company is pleased to announce the appointment of Michael Hines as Vice-President Finance: Mr. Hines (49) is a Chartered Accountant by profession has held various high level executive positions both in private and public practice. Mr. Hines is currently a principal of EHS Partners a position he has held since 2001. In addition he has served as CFO for the WJS Group of Companies; Senior Project Manager for "P3 International Trade and Investments Inc."; Executive Vice President of "Lameque Quality Group Ltd."; and a Partner and Senior Vice-President of KPMG and KPMG Inc., where he held responsibilities covering audit, consulting, forensic and insolvency engagements for clients in the public and private sectors. Mr. Hines areas of specialty include business restructuring and tax planning and forensic accounting engagements.
Mr. Hines holds a B.Com degree from Mount Allison University, Sackville NB - 1977; a CA designation form the Institute of Chartered Accountants - 1979; and was a former Trustee in Bankruptcy - Superintendent of Bankruptcy - 1994.
In commenting about these recent developments, the Company's President Mr. Richard Coglon provided the following commentary:
"With the private placement funds now in hand, management's initial focus will be to concentrate its operations on applying the HIP Technology to known existing and proven well bores and reservoirs that have become non commercial, uneconomic, depleted or damaged. By proving out the viability and success of the HIP Technology in dramatically increasing production from a defined segment of well bores and reservoirs, we believe the Company will be in an enviable position of building a diverse portfolio of oil and gas reserves, profitable production, and forward looking investment opportunities for the company, its shareholders and investors."
HIP Energy Corporation.
Per: Mr. Richard Coglon (B.Com/LL.B)
President / Director
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
FORWARD LOOKING STATEMENTS
Certain statements in this document are forward-looking statements or information (collectively "forward-looking statements"), within the meaning of the applicable securities legislation. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as: "will", "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intend," "plan," "projection," "could," "vision," "goals," "objective" and "outlook") are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. In particular, the forward-looking statements in this news release include: that the proceeds from the private placements are intended to be used to allow the Company to proceed with the development of its well development program using the HIP Downhole Process Technology and for general working capital, and that management believes that by proving out the viability and success of the HIP Technology in dramatically increasing production from a defined segment of well bores and reservoirs the Company will be in a position of building a diverse portfolio of oil and gas reserves, profitable production, and forward looking investment opportunities for the company, its shareholders and investors.
Although the Company believes that the expectations reflected by the forward-looking statements presented in this document are reasonable, the Company's forward-looking statements have been based on assumptions and factors concerning future events that may prove to be inaccurate. Those assumptions and factors are based on information currently available to the Company about itself and the businesses in which it operates. Information used in developing forward-looking statements has been acquired from various sources including third party consultants, suppliers, regulators and other sources. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, 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. The Company's Annual Report on Form 20-F and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com and the EDGAR website www.sec.gov) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. Except as required by applicable securities laws, the Company disclaims any intention or obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
SOURCE HIP Energy Corp.
CDSI could get interesting here....
8k, http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7213808
ADIRA ENERGY LTD
Symbol ADENF
Adira Energy announces signature of binding letter of intent to farm-in to contiguous onshore gas field
2010-04-21 10:32 ET - News Release
FRANKFURT: AORLB8; OTCBB: ADENF
TORONTO, April 21 /CNW/ - ADIRA ENERGY LTD. (OTCBB: ADENF; FRANKFURT: AORLB8). Adira Energy Ltd. ("Adira Energy" or the "Company") is pleased to announce that it has signed a binding conditional Letter Of Intent ("LOI") with Coalbed Gas Hachula Ltd. ("CGH") an Israel-based Coalbed Methane Development company to farm-in to 70% in its "Notera" Petroleum License No. 355 ("Notera"). Notera is approximately 19,000 acres and contiguous and directly to the south of Adira Energy's Eitan Petroleum License No. 356 ("Eitan") in the Hula Valley of northern Israel. Prior drilling and evaluation of Notera indicates a similar geologic profile and hydrocarbon development potential as Eitan, which is held 100% by Adira Energy.
The parties have agreed, subject to certain conditions, to enter into an operating and development agreement, whereby Adira Energy will pay US$200,000 to the shareholders of CGH to compensate them for previous costs incurred on the Notera block. CGH will transfer to Adira Energy a 70% Net Revenue Interest (NRI) (after Government royalty of 12.5% and a 2.5% royalty to CGH) and a 70% Working Interest (WI) in the License. Adira Energy will provide certain exploration and development science and expertise as well as to drill and complete one cored well at its sole cost, to evaluate the exploitation potential on Notera. Adira Energy will operate Notera. This agreement and working interest is completely independent of Adira Energy's wholly owned Eitan block to the north and does not affect the ownership of Eitan.
The terms of the LOI is subject to board approval of Adira Energy as well as Israeli government approval of the transfer of participation right and government approval to merge license commitments of the two licenses so that Adira Energy will not have additional obligations to maintain both Licenses in good standing.
A technical advisory committee will be formed to provide technical advice and strategic support to Adira Energy as operator and it is intended that Dr. Ilan Bruner, a director of CGH, will serve on this committee to support the combined work program. The purpose of this committee is to review technical support for the projects. Dr. Bruner is CEO of Ecolog Engineering Ltd. Ecolog is a consulting and design firm specializing in earth and engineering sciences. Ecolog provides support to governmental, municipal and private clients in diverse engineering and environmental projects in Israel, including Mekorot - Israel National Water Company: Paz Oil Company Ltd.; Israel Aircraft Industries and Israel Ministry of Defense among others. Ecolog's team consists of highly skilled individuals holding PhD degrees in geology, geophysics, hydrology and natural monopolies, and master's degrees in geology, engineering and economics.
Adira Energy will have rights of first refusal over the remaining 30% owned by CGH, and CGH will have a onetime right on certain conditions, to put its remaining 30% interest in Notera to Adira Energy within 12 months, at fair market value.
Mr. Colin Kinley, Director of Operations, Adira Energy said, "We are excited to have this opportunity to explore the potential of the Notera License, we believe that this area offers an extension of both the shallow conventional gas and deeper coal bed methane. There has been interesting prior drilling on the block that substantiates our belief in the potential for this area. We are also most fortunate to bring on board the deep experience and skill of Dr. Ilan Bruner which will complement the existing technical team in execution of the Eitan/Notera program".
Dr. Ilan Bruner, director of CGH and CEO of Ecolog Engineering Ltd. stated: "We are elated to join up with Adira Energy to combine our technical, financial and operational abilities for the purposes of proving up the Hula gas fields. Together we control the most prospective acreage in the region. The joint venture between the two companies will significantly increase the ability to produce the potential gas that exists in the region."
About Adira Energy Ltd.
Adira Energy Ltd. explores for oil and gas in and offshore Israel. It has three petroleum exploration licenses; the Eitan, Gabriella and Yitzhak Licenses, collectively covering an aggregate total of approximately 160,500 acres. These licenses are located respectively on-shore in the Hula Valley of Northern Israel, 10 km offshore between Netanya and Ashdod and 17 km offshore between Hadera and Netanya.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
TGFN a couple of big trades today
TGFN a couple of big trades today
TGFN http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7079896
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 25, 2010
TGFIN HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware
0-19470
13-4069968
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
1517 North 260 East, North Logan, Utah
84341
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (435) 755-0188
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:
¨
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 1.01-Entry into a Material Definitive Agreement
TGFIN Holdings, Inc. (TGFN.OB) (“TGFIN”) reactivated its previously inactive operating subsidiary, Tradingear.com Incorporated (“Tradingear”) in order to resume its previous business of developing software, under a new d/b/a: iDEV3. On February 25, 2010 the Board of Directors of both TGFIN and Tradingear authorized management to enter into a Material Definitive Agreement to purchase software Applications in exchange for 600,000 options to purchase shares of TGFIN Common Stock at $.03 per share at any time between August 25, 2010 and August 25, 2013. The software applications, known as “SportsCast Baseball” and SportsCast Basketball” were purchased from Gaer Consulting Group, a Related Party. Gaer Consulting Group is wholly-owned by Sam Gaer, TGFIN’s largest single shareholder. SportsCast Baseball and SportsCast basketball are new software applications with no previous operating history.
Section 5.02 (c)(d)--Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Marni Gaer, Director and In-House counsel, voluntarily resigned her positions with TGFIN and Tradingear to pursue other interests. There were (are) no disputes between her and the companies. In addition, Sam Gaer, who is married to Marni Gaer, and who is TGFIN’s largest single shareholder has been appointed to the Board of Directors of TGFIN and Tradingear as a Director, and as President and CEO of Tradingear (iDEV3) by the Board of Directors of each company.
Section 5.06 -Change in Shell Company Status.
TGFIN Holdings, Inc. (TGFN.OB) (“TGFIN”) a shell company, other than a business combination related shell company, as those terms are defined in Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2) has completed a transaction that has the effect of causing it to cease being a shell company, as defined in Rule 12b-2 by reactivated its previously inactive operating subsidiary, Tradingear.com Incorporated (“Tradingear”) in order to resume its previous business of developing software, under a new d/b/a: iDEV3. On February 24, 2010 the Board of Directors of both TGFIN and Tradingear authorized management to enter into a Material Definitive Agreement to purchase a software Applications in exchange for 600,000 options to purchase shares of TGFIN Common Stock at $.03 per share at any time between August 24, 2010 and August 24, 2013. The software applications, known as “SportsCast Baseball” and “SportsCast Basketball” were purchased from Gaer Consulting Group, a Related Party. Gaer Consulting Group is wholly-owned by Sam Gaer, TGFIN’s largest single shareholder.
Section 8.01 Other Events
TGFIN Holdings, Inc. (TGFN.OB) (“TGFIN”) announces that it has launched its subsidiary, iDEV3, to become the first publicly-traded iPhone App Incubator Company. See Press Release attached. In conjunction with this initiative, the Board of Directors of TGFIN appoints Sam Gaer, the largest single shareholder of TGFIN, as President and CEO of iDEV3 and to the Board of Directors of TGFIN and iDEV3.
TGFIN hopes to become a leading incubator for application development. See www.idev3.com. After several years of trying to find a suitable merger candidate, the company turned to the talents of its principal shareholders and resumed developing software. The company plans to offer private third party developers a standard range of shares and a potential bonus scheme based upon the success of the application in exchange for the application. In essence, the company will become a cooperative for private developers who wish to “equitize” their ideas quickly and efficiently. In addition, the company will fund the development of certain applications on its own.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit Description and Exhibit No.
10.1
Intellectual Property Assignment Agreement
99.1
Press Release dated February 25, 2010.
TGFN http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7079896
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 25, 2010
TGFIN HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware
0-19470
13-4069968
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
1517 North 260 East, North Logan, Utah
84341
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (435) 755-0188
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:
¨
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 1.01-Entry into a Material Definitive Agreement
TGFIN Holdings, Inc. (TGFN.OB) (“TGFIN”) reactivated its previously inactive operating subsidiary, Tradingear.com Incorporated (“Tradingear”) in order to resume its previous business of developing software, under a new d/b/a: iDEV3. On February 25, 2010 the Board of Directors of both TGFIN and Tradingear authorized management to enter into a Material Definitive Agreement to purchase software Applications in exchange for 600,000 options to purchase shares of TGFIN Common Stock at $.03 per share at any time between August 25, 2010 and August 25, 2013. The software applications, known as “SportsCast Baseball” and SportsCast Basketball” were purchased from Gaer Consulting Group, a Related Party. Gaer Consulting Group is wholly-owned by Sam Gaer, TGFIN’s largest single shareholder. SportsCast Baseball and SportsCast basketball are new software applications with no previous operating history.
Section 5.02 (c)(d)--Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Marni Gaer, Director and In-House counsel, voluntarily resigned her positions with TGFIN and Tradingear to pursue other interests. There were (are) no disputes between her and the companies. In addition, Sam Gaer, who is married to Marni Gaer, and who is TGFIN’s largest single shareholder has been appointed to the Board of Directors of TGFIN and Tradingear as a Director, and as President and CEO of Tradingear (iDEV3) by the Board of Directors of each company.
Section 5.06 -Change in Shell Company Status.
TGFIN Holdings, Inc. (TGFN.OB) (“TGFIN”) a shell company, other than a business combination related shell company, as those terms are defined in Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2) has completed a transaction that has the effect of causing it to cease being a shell company, as defined in Rule 12b-2 by reactivated its previously inactive operating subsidiary, Tradingear.com Incorporated (“Tradingear”) in order to resume its previous business of developing software, under a new d/b/a: iDEV3. On February 24, 2010 the Board of Directors of both TGFIN and Tradingear authorized management to enter into a Material Definitive Agreement to purchase a software Applications in exchange for 600,000 options to purchase shares of TGFIN Common Stock at $.03 per share at any time between August 24, 2010 and August 24, 2013. The software applications, known as “SportsCast Baseball” and “SportsCast Basketball” were purchased from Gaer Consulting Group, a Related Party. Gaer Consulting Group is wholly-owned by Sam Gaer, TGFIN’s largest single shareholder.
Section 8.01 Other Events
TGFIN Holdings, Inc. (TGFN.OB) (“TGFIN”) announces that it has launched its subsidiary, iDEV3, to become the first publicly-traded iPhone App Incubator Company. See Press Release attached. In conjunction with this initiative, the Board of Directors of TGFIN appoints Sam Gaer, the largest single shareholder of TGFIN, as President and CEO of iDEV3 and to the Board of Directors of TGFIN and iDEV3.
TGFIN hopes to become a leading incubator for application development. See www.idev3.com. After several years of trying to find a suitable merger candidate, the company turned to the talents of its principal shareholders and resumed developing software. The company plans to offer private third party developers a standard range of shares and a potential bonus scheme based upon the success of the application in exchange for the application. In essence, the company will become a cooperative for private developers who wish to “equitize” their ideas quickly and efficiently. In addition, the company will fund the development of certain applications on its own.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit Description and Exhibit No.
10.1
Intellectual Property Assignment Agreement
99.1
Press Release dated February 25, 2010.
EMBR looks like it's starting another move
ASNL looks like there still may be life in it. It was on the pinks for years and then in 2008 it filed a 15-12g which exempts from making filings etc. Most companies file a 15-12g when they move from the otcbb to the pinks. When a company has been on the pinks for years and then files a 15-12g it indicates there is a willingness to keep the company in good status with the SEC so that it doesn't get delisted or cease traded so to me this indicates it is trying to keep it's listing and value as a shell. The company at one point also held about 1.7 million in cash which has probably disappeared but you never know...
http://www.secinfo.com/dV3p8.t1fh.htm
ADENF(formerly AMGOF) Adira Energy announces the farmout and funding of its Gabriella license offshore Israel with major Israeli group and strategic private placement
2010-01-26 09:23 ET - News Release
FRANKFURT: AORLB8; OTCBB: ADENF
TORONTO, Jan. 26 /CNW/ - ADIRA ENERGY LTD. (OTCBB: ADENF; FRANKFURT: AORLB8). Adira Energy Ltd. ("Adira" or the "Company") announced today that its wholly owned subsidiary Adira Energy Israel Ltd. ("Adira Israel") has signed an agreement with Modiin Energy Limited Partnership ("MELP") and Modiin Energy General Partners ("MEGP") (collectively "Modiin") which will facilitate the full initial funding of Adira's Gabriella offshore license on favourable terms subject to Brownstone Ventures Inc earn-rights and funding obligations.
The Deal
The agreement reached will see MELP farm in to 70% (of 100%) (the "Modiin Earn-In Rights") of certain rights of participation in License No. 378 / "Gabriella" (the "Gabriella License"). This is in addition to Brownstone Ventures Inc's right, subject to certain conditions, to earn a 15% participating interest in the Gabriella License. (See Press Release September 14, 2009). The Gabriella License consists of an area of approximately 390 sq km, in the Mediterranean, at a distance of approximately 10 km from the Israel coast, between the city of Netanya in the North to the City of Ashdod in the South and is located in shallow waters. The Gabriella License was granted to Adira Israel on the 15th July 2009 for an initial period of 3 years. The Gabriella License provides that Adira Israel perform a specific minimum work plan that includes, inter alia, conducting a 3D seismic survey and the drilling commencement on one well to a total depth of approximately 5000m.
The material terms of the agreement include the following:
<<
1. An agreed and approved work plan on the Gabriella License, together
with a budget of US$8 million (the "Approved Work Budget") as well as
an expected implementation timeline.
2. In addition to financing its part of the Approved Work Budget, Modiin
will finance Adira's share of the Approved Work Budget up to US$ 1.2
million. The agreement provides that in the event that Modiin does
not meet its funding commitments, as stated above, it will return the
Modiin Earn-In Rights without any compensation or any other claim
against Adira.
3. MELP and MEGP will pay Adira a combined royalty of 4.5% on the total
wellhead revenue of the rights in oil and / or gas and / or other
valuable materials produced up until such time as costs are
recovered. Once costs are recovered this combined royalty will
increase to 10.5%.
4. Commencing on the 1st of February 2010, and for a period of two years
thereafter, Modiin will pay Adira a monthly fee in respect of
advisory services provided by Adira in connection with the license.
5. MEGP will pay Adira 3.75% (half) of the 7.5% operator fee which MEGP
is entitled to receive from MELP in terms of the management agreement
between the two. This payment is for a period of 24 months. Following
the initial 24 month period Adira will be entitled to receive 4.25%
of the operator fee MEPG is entitled to receive from MELP.
6. Adira have been granted an option to reacquire 15% of the Modiin
Earn-In Rights (the "Back-In Option") back from MELP at cost. Cost is
defined as cumulative expenditure on the exploration program as at
date of exercise of the Back-In Option. The Back-In Option can be
exercised during the period commencing on the date hereof and ending
on the date which is 6 months from the earlier to occur of a
discovery (as defined in the Israel Petroleum law of 1952) or until
the license period ends.
7. The parties have committed to negotiate in good faith a joint
operating agreement within 60 days of signing the agreement, with
Adira being designated as the Operator and being entitled to a 7.5%
fee based on gross expenditures.
8. The agreement includes provisions regarding the right of refusal and
tag along clauses.
9. As part of the agreement, the general partner of MEGP has committed
to invest a total of US$ 300,000 for the purchase by way of a private
placement of 600,000 Subscription Receipts to purchase shares of
Adira Energy Ltd (the "Subscription Receipts"). The Subscription
Receipts will be exchanged automatically without any further
consideration for 600,000 common shares in the capital of Adira
("Common Shares") on the date upon which the Common Shares will be
listed for trading on a recognized stock exchange in Canada.
10. The transfer of the Modiin Earn-In Rights is subject to approval of
the Petroleum Commissioner responsible for oil affairs in the
Ministry of National Infrastructures in Israel.
11. The agreement is conditional upon approval by the board of Adira and
MEGP, as well as the holders of participation rights of MELP to the
extent required shareholders to the extent required, as well as any
other applicable regulatory approvals.
>>
Ilan Diamond, CEO of Adira Energy Ltd. stated today: "Adira Energy has executed upon a number of significant milestones in a short time span, since the company's inception. We are delighted to have partnered with a group as experienced and entrenched on the financial side of the oil and gas sector in Israel as Modiin, Clal with Tzahi Sultan at the helm together with IDB one of the large conglomerates in Israel. Together we look forward to being part of this very exciting burgeoning industry in Israel as the country embarks on a new era of Oil & Gas exploration leading to self sufficiency."
Tzahi Sultan, Chairman of Clal Finance Underwriting commented: "We are delighted about partnering with Adira Energy and look forward to a fruitful and long term partnership with Adira in Oil and Gas exploration in Israel. I am very optimistic about the potential of the Gabriella license and look forward to more joint projects in the future. I am very impressed with the Adira's management and technical team and believe they can add tremendous value to Oil and Gas exploration in Israel. I look forward to a continuous work relationship with them."
About Modiin Energy
MELP is an Israeli listed limited partnership managed by MEGP which is controlled in equal shares by Tzahi Sultan and I.D.B Investments through a company called Noya Investments. Tzahi Sultan is the executive Chairman of Clal Finance Underwriting ("CFU"). CFU is the leading underwriter and investment banker in Israel with 50% of the total market. In 2009 CFU raised over 30 Billion Shekels (84bn $US).
About Tzahi Sultan
Tzahi has over 15 years experience in the field of underwriting. During his career, he's served as managing director at HSBC, was the chief executive of Gmul Sahar Underwriting, and headed the underwriting division of Poalim Capital Markets, a subsidiary of Bank Hapoalim. In the past 5 years, Tzahi serves as the CEO of Clal Finance Underwriting. Under his management, Clal has executed hundreds of issuings, public and private, including some of the high-profile IPOs and privatization processes in the Israeli market and M&A transactions.On March 2009 Tzahi had completed the acquisition of control of Clal Finance Underwriting.
About Clal Finance Underwriting
Clal Finance Underwriting Ltd., ("CFU") the investment-banking division of Clal Insurance Enterprises Holdings, is a leading player in the local financial markets. During 2007 the company managed deals in excess of 43 NIS Billion (over $13B); during 2008 it managed over NIS 12 billion (~$3B) in public offerings and private placements for leading players in Israel's corporate sector; and in 2009, CFU raised over NIS 30 Billion (~$8B) in over 75 transactions for its clients. Bloomberg and "Themarker.com" economical web site and magazine declared CFU the leading underwriting and investment banker in Israel for 2008. In 2009 Clal Finance Underwriting issued 18 public companies in the life science sector in Israel, and raised about NIS 370M. Clal finance Underwriting acted as Lead manager in 16 issued companies, in 9 of them Clal acted as sole underwriter.
About IDB
The IDB Group is Israel's largest, top-tier, leading, diversified business group with total assets of over US$ 30 billion. IDB was recently ranked by leading international institutions as the leading diversified Group in Israel. The IDB Group was acquired in 2003 by Mr. Nochi Dankner and the Manor and Livnat families. The Group has a presence of our subsidiaries in over 100 countries worldwide, and a total workforce of 40,000 employees. IDB's prudent, ongoing capital market activity is demonstrated by 25 portfolio companies, which are traded on the Tel Aviv Stock Exchange (TASE), as well as on the American and European stock exchanges (NASDAQ, NYSE, AMEX and AIM London).
About Adira Energy Ltd.
Adira Energy Ltd. explores for oil and gas in and offshore Israel . It has three petroleum exploration licenses; the Eitan, Gabriella and Yitzhak Licenses, collectively covering an aggregate total of approximately 160,500 acres. These licenses are located respectively on-shore in the Hula Valley of Northern Israel, 10 km offshore between Netanya and Ashdod and 17 km offshore between Hadera and Netanya.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
Looks like NITE moved up on the ask ......
ASK 0.158 5,000 NITE 01-11 15:24
Bid moving up on the pink sheets and more mm's showing up on the otcbb but they aren't quoting .....
OTCBB Level 2 Display For CAML
Market Maker Quotes
Source Time MM id Size Price
BID Otcbb 07:30:15 JLEO 50 0.04
Otcbb 07:30:15 AUTO
Otcbb 09:41:04 ARCA
Price Size MM id Time Source
ASK AUTO 07:30:15 Otcbb
JLEO 07:30:15 Otcbb
ARCA 09:41:04 Otcbb
Pink Sheets Level 2 For CAML
Time MM id Volume Price Price Volume MM id Time
BID
01-11 13:13 NITE 5,000 0.05
01-11 10:34 UBSS 5,000 0.044
01-07 14:34 DOMS 5,000 0.011
01-04 11:45 STXG 5,000 0.01
11-09 14:01 HDSN 5,000 0.001
11-24 10:21 LAFC 5,000 0.0001
12-18 12:32 ETMM 5,000 0.0001
ASK
0.07 5,000 NITE 01-11 13:13
0.16 5,000 MAXM 01-11 11:42
0.55 2,500 DOMS 01-07 14:34
1.00 2,500 ETMM 12-18 12:32
1.01 500 HDSN 11-09 14:01
1.01 500 LAFC 11-24 10:21
1.48 500 UBSS 01-11 10:34
2.00 500 STXG 01-04 11:45
2.49 500 AUTO 01-11 09:35
OTCBB Level 2 Display For CAML
Market Maker Quotes
Source Time MM id Size Price
BID Otcbb 07:30:15 JLEO 50 0.04
Otcbb 09:30:18 AUTO
Price Size MM id Time Source
ASK 2.39 5 AUTO 09:30:18 Otcbb
JLEO 07:30:15 Otcbb
Pink Sheets Level 2 For CAML
Time MM id Volume Price Price Volume MM id Time
BID
01-05 13:41 NITE 5,000 0.0308
01-07 14:34 DOMS 5,000 0.011
01-04 11:45 STXG 5,000 0.01
11-09 14:01 HDSN 5,000 0.001
11-24 10:21 LAFC 5,000 0.0001
12-18 12:32 ETMM 5,000 0.0001
ASK
0.09 5,000 NITE 01-05 13:41
0.55 2,500 DOMS 01-07 14:34
1.00 2,500 ETMM 12-18 12:32
1.01 500 HDSN 11-09 14:01
1.01 500 LAFC 11-24 10:21
2.00 500 STXG 01-04 11:45
OTCBB Level 2 Display For CAML
BID Time MM id Size Price
Otcbb 07:30:15 JLEO 50 0.04
Otcbb 16:02:01 AUTO
Price Size MM id Time Source
ASK JLEO 07:30:15 Otcbb
AUTO 16:02:01 Otcbb
Pink Sheets Level 2 For CAML
Time MM id Volume Price Price Volume MM id Time
Bid
01-05 13:41 cNITE 5,000 0.0308
12-30 10:26 cDOMS 5,000 0.011
01-04 11:45 cSTXG 5,000 0.01
11-09 14:01 cHDSN 5,000 0.001
11-24 10:21 cLAFC 5,000 0.0001
12-18 12:32 cETMM 5,000 0.0001
Ask
0.09 5,000 cNITE 01-05 13:41
0.14 5,000 cDOMS 12-30 10:26
0.15 5,000 cUBSS 01-05 09:52
1.00 2,500 cETMM 12-18 12:32
1.01 500 cHDSN 11-09 14:01
1.01 500 cLAFC 11-24 10:21
2.00 500 cSTXG 01-04 11:45
CAML is still quoted predominately on pink sheets and even though CAML is now otcbb quoted it looks as it looks like the mm's haven't migrated to the otcbb yet.....
Pink Sheets Level 2 For CAML
Bid Ask
Time MM id Volume Price Price Volume MM id Time
12-29 10:12 NITE 5,000 0.05
12-29 09:30 UBSS 5,000 0.016
11-25 10:39 DOMS 5,000 0.011
10-01 13:41 STXG 5,000 0.01
11-09 14:01 HDSN 5,000 0.001
11-24 10:21 LAFC 5,000 0.0001
12-18 12:32 ETMM 5,000 0.0001
0.08 5,000 DOMS 11-25 10:39
0.09 5,000 NITE 12-29 10:12
0.15 5,000 STXG 10-01 13:41
0.50 5,000 UBSS 12-29 09:30
1.00 2,500 ETMM 12-18 12:32
1.01 500 HDSN 11-09 14:01
1.01 500 LAFC 11-24 10:21
- OW in the bid price means Offer Wanted
- BW in the ask price means Bid Wanted
- U means the bid or ask is unpriced
- Closed quotes are displayed in red and with a c in front of the MM id
- Unsolicited quotes are displayed with a u following the MM id
Adira Energy announces results of annual and special meeting of shareholders, corporate name change and restructure of board of directors
2009-12-24 11:14 ET - News Release
FRANKFURT: AORLB8; OTCBB: AMGOF
TORONTO, Dec. 24 /CNW/ - ADIRA ENERGY LTD. (OTCBB: AMGOF; FRANKFURT: AORLB8). Adira Energy Ltd. ("Adira" or the "Company") announced today that at its annual and special meeting of shareholders held on December 17, 2009 (the "Meeting"), Messrs Ohad Marani and Colin Kinley were elected to Adira's Board of Directors. Mr. Glen Perry has resigned as officer and from the Company's board of directors effective December 24, 2009, for personal reasons. Shareholders also approved a change of the Company's name from "AMG Oil Ltd." to "Adira Energy Ltd." at the Meeting.
"We are pleased to welcome Mr Marani and Mr Kinley, as members of Adira's board," stated Dennis Bennie, Adira's Chairman. "With their experience and expertise, we see these two gentlemen becoming valuable contributors to Adira's future. We would also like to take this opportunity to acknowledge and thank Mr. Perry for his time and commitment to Adira during his tenure as a director and wish him all the best in his future endeavours."
About Mr. Ohad Marani.
Mr. Marani is currently Chairman of the Board of Israel Natural Gas Lines Ltd., a company that builds and operates the natural gas pipelines and related infrastructure in Israel. Since November 2008, Mr. Marani has acted as Chairman of the Board of Alumot Investment House, a fast growing financial institution that manages provident funds, trust funds, and private investments. From March 2004 to July 2007Mr. Marani served as Executive Chairman of the Board of Israel Oil Refineries Ltd., the second largest industrial conglomerate in Israel whose holdings include oil refineries and petrochemical industries. The conglomerate has $4 billion annual sales volume and Mr. Marani was responsible for its privatization in the process leading the largest ever equity raise in Israel. Prior to March 2004, Mr. Marani served in various Israeli government ministries including the Israel Finance Ministry, initially as head of the Budget Department and subsequently as Director General of the Israel Finance Ministry, under Mr. Benjamin Netanyahu, then Finance Minister and Israel's Prime Minister today.
Mr. Marani has also served as Head of the Finance Department in the Israeli Embassy in Washington DC, USA, responsible for matters of foreign aid (civilian and military); contact with international financial bodies, the World Bank and the International Monetary Fund (IMF).
Mr. Marani has a Masters Degree in Public Administration (major in economics and finance) from Harvard University, an MBA (majoring in finance) from Hebrew University of Jerusalem and a BA in Economics from Hebrew University of Jerusalem.
About Mr. Colin Kinley.
Mr. Kinley is currently Executive Vice President, Operations and Chief executive officer of Kinley Exploration LLC, a specialized unconventional gas company providing exploration program management and reserves assessment for both new and established CBM projects. Prior to Kinley Exploration, Mr. Kinley worked as President of a Botswana-based Coal Bed Methane exploration and development company, and he provided the project management skills necessary to prove up an unconventional gas field in the central Kalahari Desert in sub-Saharan Africa.
Prior thereto, Mr. Kinley spent 26 years as an executive for Layne Christensen and its predecessor companies. He was responsible for the management of specialized engineered drilling and development projects, executive oversight of multiple service companies and exploration and production operations, both domestically and internationally. He was instrumental in helping Layne achieve recognition as one of America's best and fastest growing companies, listed by DeMarche Associates and Forbes respectively. Mr. Kinley has experience in leading companies in both the public and private sector and understands the complexities involved.
These two new directors join the three returning directors: Dennis Bennie (Chair), Ilan Diamond (CEO) and Alan Friedman.
At the Meeting Adira's shareholders also: increased the number of directors from four to six, re-appointed Smythe Ratcliffe LLP, Certified Public Accountants, as the auditors of Adira, approved a new stock option plan for Adira and stock options previously granted thereunder, approved the changing of the Company's authorized capital from 100,000,000 common shares to an unlimited amount of common shares and approved the change of the Company's registered office from British Columbia to Ontario, all as more particularly disclosed in Adira's management information circular dated November 19, 2009.
About Adira Energy Ltd.
Through its wholly-owned subsidiary Adira Energy Holding Corp., an Ontario corporation, the Company explores for oil and gas in Israel. It has three separate Petroleum exploration licenses; the Eitan, Gabriella and Yitzhak Licenses, covering an aggregate total of approximately 160,500 acres. These licenses are located on-shore in the Hula Valley of Northern Israel, 10 km offshore between Netanya and Ashdod and 17 km offshore between Hadera and Netanya.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
Wettreich certainly has a huge incentive to get CAML filled as a shell as he owns almost all the shares outstanding
Item 12. Security Ownership of Certain Beneficial Owners and Management
The following table sets forth as of April 30,2009 information known to the management of the Company concerning the beneficial ownership of Common Stock by
(a) each person who is known by the Company to be the beneficial owner of more than five percent of the shares of Common Stock outstanding, (b) each director at that time, of the Company (including principal directors of subsidiaries) owning Common Stock, and (c) all directors and officers of the Company (including principal directors of subsidiaries) as a group (1 person).
Name and Address of Amount and Nature of Percent
Beneficial Owner Beneficial Ownership of Class
----------------- -------------------- --------
Daniel Wettreich 43,000,000 87.33%
18170 Hillcrest Road, Suite 100
Dallas, Texas 75248
All Officers and Directors 43,000,000 87.33%
as a group (1 person)
AMG Oil, through its wholly-owned subsidiary Adira Energy, awarded additional petroleum license offshore Israel
Ticker Symbol: U:AMGOF
FRANKFURT: AORLB8; OTCBB: AMGOF
VANCOUVER, Nov. 2 /CNW/ - AMG OIL LTD. (OTCBB: AMGO; FRANKFURT: AORLB8) (the "Company") is pleased to announce that the Israeli Petroleum Commissioner's office has notified the Company that, during the most recent sitting of the Israeli Petroleum Board, the Company, through its wholly-owned subsidiary Adira Energy Corp., was awarded a second petroleum license in offshore Israel (the "Yitzhak License").
About the Yitzhak License
The Yitzhak License area is centered approximately 17 km off the Israeli coast and stretches from Netanya in the South to Hadera in the North (about 11 km). The Yitzhak License covers a total license area of 127,700 Dunam (approximately - 127.7 square kilometers or 31,555 acres). The Yitzhak License is directly to the North of, and contiguous to the company's Gabriella License.
The license area is in shallow water with a depth of approximately 150 meters, which the Company believes will make drilling more cost efficient. The Yitzhak License has been granted for an initial period of three years commencing October 15, 2009.
Stephen Pierce, AMG's Senior Vice President of Geology, said: "During early 1970 an oil well located in the area covered by the Yitzhak License called "Delta-1" was drilled. The total depth of Delta-1 was 4423m, and ended in the Upper Jurassic. However, this depth is above the oil encountered in the Jurassic Bathonian age limestones in the Yam Yafo-1 (4894m - 4955m) and Yam-2 wells (5315m). It remains unclear as to why drilling stopped at this depth. However, the Delta-1 well was drilled in 1970 before the later discoveries of Yam Yafo-1 and Yam-2. Subsequent to Delta-1 being drilled, seismic mapping demonstrated a structural high extending from Delta-1 to the oil discoveries at Yam Yafo-1 to Yam-2. We believe that we have a good prospect that is an attractive target for hydrocarbon exploration."
The Company's successful application for the Yitzhak License expands AMG's portfolio of petroleum licenses from its current two licenses ("Eitan" and Gabriella") to include a prospective offshore area within a region that is known to host significant evidence of hydrocarbons.
AMG's Chief Executive Officer, Ilan Diamond stated: "We are very pleased to have been successfully granted the Yitzhak License, the second block in the region. Both the Company's offshore licenses, "Gabriella" and "Yitzchak" are within the broader region of the Nobel/Delek Tamar gas discoveries, which are 60 km west of Hadera (Dalit) and 90 km west of Haifa (Tamar). Evaluation work on our "Gabriella" license has recently commenced and we are excited to continue work on this license. In addition, we continue to plan for the start of our exploration and drilling program on our "Eitan" license in the Hula Valley, northern region of Israel. We have completed the purchase of the drill rig and associated equipment, and are in the process of moving the rig to site. We have contracted the services of a full time drilling team who have significant experience operating rigs of similar nature and who have worked in the area previously."
About AMG Oil Ltd.
Through its wholly-owned subsidiary Adira Energy Corp., an Ontario corporation, the Company explores for oil and gas in Israel in areas located on-shore in the Hula Valley, Northern Israel, 10km offshore between Netanya and Ashdod, and 17km offshore between Hadera and Netanya. The Company currently holds three petroleum exploration licenses, the Eitan, Gabriella and Yitzhak Licenses, covering an aggregate total of approximately 160,550 acres. Brownstone Ventures Inc a Canadian-based, TSX Venture Exchange listed, energy investment company, has the right, subject to certain conditions, to earn a 15% participating interest in the Company's' offshore blocks.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
Contact:
Alan Friedman, EVP, Corp. Development, info@adiraenergy.com, (416) 250-1955
CHHE.... 10K looks pretty good
Almost 11 million in sales, 2.8 million profit and more than 7 million in cash on hand..............
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6855566
AMG Oil announces the closing of additional private placement, the appointment of a new CFO and the granting of options
2009-09-24 18:35 ET - News Release
FRANKFURT: AORLB8; OTCBB: AMGOF
VANCOUVER, Sept. 24 /CNW/ - AMG OIL LTD. (OTCBB: AMGOF; FRANKFURT: AORLB8) (the "Company") is pleased to announce that on September 23, 2009, it completed the private placement of an additional 400,000 units ("Units") on a non-brokered basis at a price of U.S. $0.25 per Unit for aggregate gross proceeds of US$100,000. Each Unit was comprised of one common share of the Company and one-half of one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one additional common share of the Company at the exercise price of U.S. $0.50 per share for a two year period following closing.
When combined, the closing of this portion of the private placement and the private placement announced on September 1, 2009, have resulted in the Company raising gross proceeds of U.S. $2,000,000 for exploration for oil and gas in Israel on the Company's Eitan Petroleum License as well as evaluation of the Gabriella License block.
The Company is also pleased to announce that it has appointed Mr. Alan Rootenberg as its new Chief Financial Officer, effective immediately. Mr. Rootenberg is a chartered accountant with experience in the resource and technology industries. He has served as a senior executive in a number of publicly traded companies, serving as Chief Financial Officer to OTCBB, TSX and TSXV listed mineral exploration companies. Alan was President and Chief Executive Officer of a publicly traded (TSXV) technology company from 1999 to 2007. Alan has a Bachelor of Commerce degree from the University of the Witwatersrand in Johannesburg, South Africa and received his Chartered Accountant designation in both South Africa and in Ontario, Canada.
The Company also announced that it has granted an aggregate of 650,000 stock options to an executive officer and certain consultants of the Company on September 23, 2009. The options have an exercise price of U.S. $0.25 per share, subject to various vesting and termination provisions, and expire August 2014.
About AMG Oil Ltd.
Through its wholly-owned subsidiary Adira Energy Corp., an Ontario corporation, the Company explores for oil and gas in Israel in an areas located on-shore in the Hula Valley and is currently evaluating an offshore block, 10 km offshore Israel between Netanya and Ashdod. The Company currently holds two petroleum exploration licenses, the Eitan License and the Gabriella License, covering an aggregate total of approximately 129,000 acres.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised in financings may differ materially from those projected in forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
AMG Oil, through its wholly-owned subsidiary Adira Energy, enters into Letter of Intent with Brownstone Ventures Inc.
2009-09-14 08:43 ET - News Release
FRANKFURT: AORLB8; OTCBB: AMGOF
TORONTO, Sept. 14 /CNW/ - AMG OIL LTD. (OTCBB: AMGOF; FRANKFURT: AORLB8) (the "Company") is pleased to announce that it has entered into a Letter of Intent ("LOI") with Brownstone Ventures Inc. ("Brownstone"), a Canadian-based, TSX Venture Exchange listed, energy investment company that holds direct interests in numerous international oil and gas properties.
Pursuant to the LOI, Brownstone will have the right to earn a 15% participating interest in any existing or future oil and gas blocks acquired by the Company in offshore Israel for a three year period commencing July 15, 2009 (the "Term") and shall contribute 15% of all costs associated with such projects, in addition to its expertise and industry experience. The LOI also provides that Brownstone and the Company (the "Parties") will work towards an agreement under which both Parties are entitled to participate in certain new Israeli offshore oil and gas exploration and development blocks the other party may become involved. The terms of the LOI are subject to Israel governmental regulation, including approval from the Israel Petroleum Commissioner.
As announced September 9, 2009, the Company is currently the owner of a petroleum license in offshore Israel (the "Gabriella License") covering a total license area of 390,000 Dunam (approximately - 390 square kilometers or 97,000 acres). The Gabriella License area is centered approximately 10 km off the Israeli coast and stretches from Netanya in the North to Ashdod in the South (about 40 km). The Gabriella License area is in shallow water with a depth of between 80 and 120 meters, and includes the site of an oil well drilled in the early 1990's which had production in the 500-800 barrel per day range, before technical problems and funding issues prevented commercial production. The LOI does not apply to the Company's existing Eitan License in the Hula Valley which is onshore.
The Parties plan to evaluate the Gabriella License as their first joint exploration opportunity with a view to fulfilling the license obligations.
AMG's Chief Executive Officer, Ilan Diamond stated: "We are very pleased to have Brownstone as our partner as we evaluate the Gabriella License area with a view towards moving the exploration program forward. Brownstone and its principals have extensive experience in the oil and gas industry and bring with them tremendous skill in the specialized area of offshore drilling as well as access to significant capital. We think the Company will benefit from the exciting opportunity in this prospective new frontier of oil and gas exploration in the Mediterranean."
Sheldon Inwentash, CEO of Brownstone stated: "This new partnership with AMG Oil/Adira Energy, provides us with the long awaited opportunity of entering the oil and gas region offshore Israel to assist in the development of Israel's oil and gas resources. With the most recent discovery by the Noble/Delek Consortium less than 60 kilometres away from the Gabriella License, the possibility of significant hydrocarbon reserves exist, and together with our partners, Adira Energy, we believe we have the necessary access to financial and technical resources to maximise the opportunity."
About AMG Oil Ltd.
Through its wholly-owned subsidiary Adira Energy Corp., an Ontario corporation, the Company explores for oil and gas in Israel in areas located on-shore in the Hula Valley and in Israel 10 km offshore between Netanya and Ashdod. The Company currently holds two petroleum exploration licenses, the Eitan License and the Gabriella License, covering an aggregate total of approximately 129,000 acres.
About Brownstone Ventures Inc.
Brownstone Ventures Inc. is a Canadian-based, energy focused investment company with equity interests and direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah; 72,896 acres in the Assam/Arakan Basin, Northeast India; 253,000 acres in Rio Negro, Argentina; interests in several projects in Brazil and a 50% interest in approximately 395,368 acres in the Quebec Lowlands. For additional information, please see Brownstone's website: www.brownstoneventures.com.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised in financings may differ materially from those projected in forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
AMG Oil, through its wholly-owned subsidiary Adira Energy, awarded petroleum license in offshore Israel
2009-09-09 09:06 ET - News Release
VANCOUVER, Sept. 9 /CNW/ - AMG OIL LTD. (OTCBB: AMGOF; FRANKFURT: AORLB8) (the "Company") is pleased to announce that the Israeli Petroleum Commissioner's office has notified the Company that, during the most recent sitting of the Israeli Petroleum Board, the Company, through its wholly-owned subsidiary Adira Energy Corp., was awarded a petroleum license in offshore Israel (the "Gabriella License").
About the Gabriella License
The Gabriella License area is centered approximately 10 km off the Israeli coast and stretches from Netanya in the North to Ashdod in the South (about 40 km). The Gabriella License covers a total license area of 390,000 Dunam (approximately - 390 square kilometers or 97,000 acres).
The license area is in shallow water with a depth between 80 and 120 meters, which the Company believes will make drilling more cost efficient. The Gabriella License has been granted for an initial period of three years commencing July 15, 2009.
Stephen Pierce, AMG's Senior Vice President of Geology, said: "During the early 1990's an oil well located in the area covered by the Gabriella License called "Yam Yafo -1" was drilled and tested. We understand that production tests of the "Yam Yafo -1" well yielded approximately 500-800 barrels per day, but that technical problems and lack of funds prevented commercial production. We also understand that there is a stratigraphic high with seemingly good closure. With some nine wells within 34 km radius of the central part of the block, we believe that we have a good prospect that is an attractive target for hydrocarbon exploration."
The Company's successful application for the Gabriella License expands AMG's portfolio of petroleum licenses from a single onshore project to include an interesting prospective offshore area within a region that is known to host significant evidence of hydrocarbons.
AMG's Chief Executive Officer, Ilan Diamond stated: "We are very pleased to have been successfully granted the Gabriella License. Since the Nobel/Delek Tamar gas discoveries - 60 km west of Hadera (Dalit) and 90 km west of Haifa (Tamar) the region where our license is located has become well known to people in the oil and gas community as a very prospective area. The Company is fortunate to have a significant block in the region. We continue to plan for the start of our exploration and drilling program. The drilling operations on our "Eitan" license in the Hula valley region of Israel are likely to start ahead of schedule and we now anticipate that drilling will commence during October 2009. Having recently completed the business combination between Adira Energy Corp. and the Company, as well as successfully completing a previously announced private placement, we are well positioned to commence our drilling operations on the Eitan license in the Hula Valley, Northern Israel, and begin evaluation work on the Gabriella License area."
About AMG Oil Ltd.
Through its wholly-owned subsidiary Adira Energy Corp., an Ontario corporation, the Company explores for oil and gas in Israel in areas located on-shore in the Hula Valley and in Israel 10km offshore between Netanya and Ashdod. The Company currently holds two petroleum exploration licenses, the Eitan License and the Gabriella License, covering an aggregate total of approximately 129,000 acres.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings, available at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
Re:CDSI..... I've got a pile of shells and other baghold crap left from pre-crash. Most of the junk barely trades anymore and it wasn't worth selling I've noticed that my screen is starting to fill up with trades on many of the issues lately. I'm sure if this market holds up the sleezy mm's are starting to crawl out of their holes and maybe ready to start pumping again. In past years when things have been really tough the activity is often led by tightly held shells which can often have explosive moves. Thats the thing about shells they have no liquidity when times are tough but move quickly when condition turn around hopefully CDSI has got something in the works as it is one of the better shells out there..... I find it interesting that out of the blue CDSI trades almost 40,000 shares at the ask if nothing was happening ???
Stockwatch: U:AMGOF AMG Announces Signing of Letter of Intent With Natural Gas Exploration Company Holding Petroleum License in Israel
From: Stockwatch News (newsout@stockwatch.com)
Sent: April 29, 2009 11:37:25 AM
To: Stockwatch News (newsout@stockwatch.com)
AMG Announces Signing of Letter of Intent With Natural Gas Exploration Company Holding Petroleum License in Israel
Ticker Symbol: U:AMGOF
VANCOUVER, British Columbia, April 29 /PRNewswire-FirstCall/ -- AMG OIL LTD. (the "Company") is pleased to announce that it has entered into a letter of intent with Adira Energy Corp. ("Adira Energy"), a company incorporated in the province of Ontario, holding interests in certain petroleum rights in Israel (the "Proposed Transaction").
Adira Energy is a natural gas exploration company that has been granted a Petroleum License by the State of Israel, covering 12,570 acres in the Hula Valley, located in Northern Israel, an area which has demonstrated the presence of natural gas. Adira Energy aims to prove up and, if warranted, develop the natural gas and coal bed methane (CBM) gas field, generate gas-powered electricity and acquire additional exploration/development licenses in the region.
About The Proposed Transaction
The Company will offer to purchase Adira Energy by way of a share purchase transaction or other form of business combination, which will result in the Company purchasing all of the issued and outstanding securities of Adira Energy.
Upon execution of a formal agreement relating to the Proposed Transaction, the shareholders of Adira Energy will agree in writing to tender all of their common shares to the Company. Following the closing of the Proposed Transaction, the Company will change its name to "Adira Energy Corp.".
The Proposed Transaction is subject to, among other terms, the negotiation and execution of a formal agreement by June 30, 2009, or such later date as may be subsequently agreed. Upon completion of the Proposed Transaction, the board of the resulting issuer will be comprised of five appointees of Adira Energy, one appointee of the Company as approved by Adira Energy and any other appointee as designated by the board of the resulting issuer.
The Proposed Transaction is also subject to either the Company or Adira Energy completing a private placement ("Private Placement") of a minimum of US$2,000,000 by issuance of 8,000,000 Units at a price of US$0.25 per Unit. Each Unit shall consist of one (1) common share and one half of one (1/2) warrant, each full warrant shall entitle the holder to acquire an additional common share at a price of US$0.50 per common share for a period of 24 months from the closing of the Private Placement provided that the expiry date will be accelerated, if the closing price of common shares of the resulting issuer for any period of 20 consecutive trading days exceeds US$1.00 per common share (the "Acceleration Event"), to a period that is 30 days after the Acceleration Event.
As consideration for the outstanding securities of Adira Energy, the Company will issue such number of common shares (the "Payment Shares") that shall result in the current shareholders of Adira Energy holding approximately 49.8% of the resulting issuer, post Private Placement. An aggregate of approximately 31.2 million Payment Shares will be issued to the shareholders of Adira Energy on a pro rata basis, which will be in accordance with their holdings in Adira Energy.
The Proposed Transaction is also subject to receipt of the necessary approvals, a due diligence period, the companies maintaining current business and cost structures and such other standard conditions for a transaction of this nature. Both parties have agreed to confidentiality provisions and a standstill agreement. It is expected that common shares in the Company that are acquired by Adira Energy's shareholders will be subject to escrow restrictions.
The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. Securities purchased by U.S. investors pursuant to exemptions from the registration requirements may not be resold within the United States other than pursuant to further exemptions from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
For more information contact: Michael Hart
Investor Relations: (604) 682-6496
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings free of charge at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
AMG Oil Ltd.
CONTACT: Michael Hart, Investor Relations of AMG Oil Ltd
Disclosure: have a position
Stockwatch: U:AMGOF AMG Announces Signing of Letter of Intent With Natural Gas Exploration Company Holding Petroleum License in Israel
From: Stockwatch News (newsout@stockwatch.com)
Sent: April 29, 2009 11:37:25 AM
To: Stockwatch News (newsout@stockwatch.com)
AMG Announces Signing of Letter of Intent With Natural Gas Exploration Company Holding Petroleum License in Israel
Ticker Symbol: U:AMGOF
VANCOUVER, British Columbia, April 29 /PRNewswire-FirstCall/ -- AMG OIL LTD. (the "Company") is pleased to announce that it has entered into a letter of intent with Adira Energy Corp. ("Adira Energy"), a company incorporated in the province of Ontario, holding interests in certain petroleum rights in Israel (the "Proposed Transaction").
Adira Energy is a natural gas exploration company that has been granted a Petroleum License by the State of Israel, covering 12,570 acres in the Hula Valley, located in Northern Israel, an area which has demonstrated the presence of natural gas. Adira Energy aims to prove up and, if warranted, develop the natural gas and coal bed methane (CBM) gas field, generate gas-powered electricity and acquire additional exploration/development licenses in the region.
About The Proposed Transaction
The Company will offer to purchase Adira Energy by way of a share purchase transaction or other form of business combination, which will result in the Company purchasing all of the issued and outstanding securities of Adira Energy.
Upon execution of a formal agreement relating to the Proposed Transaction, the shareholders of Adira Energy will agree in writing to tender all of their common shares to the Company. Following the closing of the Proposed Transaction, the Company will change its name to "Adira Energy Corp.".
The Proposed Transaction is subject to, among other terms, the negotiation and execution of a formal agreement by June 30, 2009, or such later date as may be subsequently agreed. Upon completion of the Proposed Transaction, the board of the resulting issuer will be comprised of five appointees of Adira Energy, one appointee of the Company as approved by Adira Energy and any other appointee as designated by the board of the resulting issuer.
The Proposed Transaction is also subject to either the Company or Adira Energy completing a private placement ("Private Placement") of a minimum of US$2,000,000 by issuance of 8,000,000 Units at a price of US$0.25 per Unit. Each Unit shall consist of one (1) common share and one half of one (1/2) warrant, each full warrant shall entitle the holder to acquire an additional common share at a price of US$0.50 per common share for a period of 24 months from the closing of the Private Placement provided that the expiry date will be accelerated, if the closing price of common shares of the resulting issuer for any period of 20 consecutive trading days exceeds US$1.00 per common share (the "Acceleration Event"), to a period that is 30 days after the Acceleration Event.
As consideration for the outstanding securities of Adira Energy, the Company will issue such number of common shares (the "Payment Shares") that shall result in the current shareholders of Adira Energy holding approximately 49.8% of the resulting issuer, post Private Placement. An aggregate of approximately 31.2 million Payment Shares will be issued to the shareholders of Adira Energy on a pro rata basis, which will be in accordance with their holdings in Adira Energy.
The Proposed Transaction is also subject to receipt of the necessary approvals, a due diligence period, the companies maintaining current business and cost structures and such other standard conditions for a transaction of this nature. Both parties have agreed to confidentiality provisions and a standstill agreement. It is expected that common shares in the Company that are acquired by Adira Energy's shareholders will be subject to escrow restrictions.
The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. Securities purchased by U.S. investors pursuant to exemptions from the registration requirements may not be resold within the United States other than pursuant to further exemptions from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
For more information contact: Michael Hart
Investor Relations: (604) 682-6496
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to complete them as a result of general market conditions, adverse developments unique to such investors, or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings free of charge at www.sedar.com and www.sec.gov. This announcement does not constitute an offering of securities nor a solicitation to purchase securities. An offer of securities will only be made by subscription agreement and subject to applicable law.
AMG Oil Ltd.
CONTACT: Michael Hart, Investor Relations of AMG Oil Ltd
BB's have been to dead to play lately but I came across this video on youtube it reminded me of you and made me think of this board again....
Dangerous business this fishing YIIKESSS!!!!
Bear Attacks Fisherman – In His Boat
Published Date: 2008/9/11 0:10:00Article ID : 5023
Version 1.00
By Scott Sutherland
The Canadian Press
VICTORIA — Salmon fishermen are no longer throwing fish guts on shore for black bears around Port Renfrew, B.C. after one climbed onto a dock, jumped into a man's boat and mauled him.
“All the bears in Port Renfrew are pretty docile,” said Fire Chief Dan Tennant. “They're more afraid of people than people are of them and normally turn and high-tail it when they see people,” said Tennant.
He said he first thought the bear attack call received by his department and an ambulance crew was a “miscommunication.”
“But sure enough when we got on scene there was a man who had some deep lacerations on his right shoulder and scratches all over his body,” said Tennant.
The man was conscious and in shock, but that his wounds did not appear to be life threatening, he said.
Authorities said the man, 52, was a resident of Saltspring Island and was airlifted by helicopter to a hospital in Victoria, about 70 kilometres east of the community.
Gordon Hitchcock, a B.C. conservation officer, said the bear swam across Gordon River and climbed onto a dock before jumping into the man's boat and mauling him.
Witnesses told him it was difficult to get the bear off the victim.
“Individuals that came to the aid of the victim used a combination of (fishing) gaffs, knives and a hammer to remove or pull the bear off the victim,” he said.
The man's friends managed to kill the bear, said Tennant.
The area is popular with recreational fishermen seeking salmon, halibut and groundfish and there are a “couple of hundred” boats tied up at the marina at any given time.
Tennant said it was not a large bear, but the incident was extremely unusual.
“Never, ever have I heard of anything like that here, and I doubt I ever will again,” he said.
He said there have been large numbers of black bear and deer in the area this summer, but there have been no incidents.
People have been throwing fish remains on to the shore for years, and that has to stop, he said.
“They've all been told, now, not to do that anymore,” he said.
A necropsy on the bear was conducted Wednesday by provincial veterinarian Helen Schwantje in Nanaimo.
“Initial findings indicate that it was a very old bear in very poor health,” said Environment Ministry spokeswoman Kate Thompson.
I was hoping for a lot more. I bought a few more and broke even but made good coin on what I had left from earlier days.With it's low float and o/s if SIBM was listed on a Canadian exchange it would have doubled or tripled.... I'm all out now as well but like you I'm keeping an eye on it... I still think some of these otcbb resource plays are going to be played one day but they sure are dead for now. As a matter of fact the entire otcbb is dead money and I barely play otcbb stocks any more except for selling the occasional baghold that arises from the dead. I used to make good ka-ching following this message board but almost 90% of the posts are just worthless noise now and the other 10% are posters pumping and trying to get out of their positions and then the pos mentioned goes in the tank again. THMG is another one I thought would have traded at much higher multiples but still waiting here as well no point in giving it away....
FREEDOM 51 !!!!!
ZABRF .035 x .04 ... Bedo has got MCI .58 x .60 on the venture exchange rocking on a potash deal. I'm betting he's going to reactivate Zab Resources as well.
SIBM .34 x .36
Silver Butte to Enter Coal Industry
2008-06-24 10:34 MT - News Release
SANDPOINT, Idaho, June 24 /PRNewswire-FirstCall/ -- On June 23, 2008 Silver Butte entered into a Letter of Intent for a share exchange with Blue Arch Coal Company, a Wyoming corporation ("Blue Arch"). Blue Arch Coal Company is a privately held corporation that currently owns options to acquire four state coal leases in the Powder River Basin of Wyoming. The leases are estimated to contain 148.3 million tons of proven sub-bituminous coal reserves.
Under the terms of the proposed share exchange, at closing, each of the approximately 220,500,000 then outstanding shares of Blue Ach will be exchanged for shares of Silver Butte on a one for one basis (i.e. one share of Silver Butte will be issued in exchange for one share of Blue Arch). Closing of the transaction is contingent upon completion of Due Diligence by each corporation and negotiation of a definitive Share Exchange Agreement which must be approved by the Board of Directors of Silver Butte and Blue Arch and by the shareholders of Blue Arch holding majority of the outstanding shares of Blue Arch Common Stock. The Share Exchange Agreement will contain, among other conditions, a requirement that prior to closing Blue Arch shall have obtained equity financing in the minimum amount of $3million. After closing of the transaction it is anticipated that there will be a 1:5 reverse split of the Silver Butte Common stock and that Silver Butte shall amend its Articles of Incorporation changing the name of the Corporation to Blue Arch Energy, Inc.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.
Silver Butte Company, Inc.
CONTACT: Terry McConnaughey, President of Silver Butte Company, Inc.,
+1-208-290-0289
It's called pump and dump. We've seen the pump and now we are seeing the dump
WAIV .04 interesting 8K seems to be sparking some interest
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5986159
Re: PCTU.... I'm still bagholding this one.....
NCT Hearing Products, Inc. Sells Controlling Interest In Pro Tech Communications, Inc.
2008-06-11 06:30 MT - News Release
Also News Release (U-NCTI) NCT GROUP INC
Also News Release (U-PTCU)
NEW YORK, June 11 /PRNewswire-FirstCall/ -- ProTech Communications, Inc. announced today that Four Crystal Funding, LLC has purchased 85% of its common shares by transferring Mexican Sovereign Bonds, with a total face value as estimated by the Mexican Government of approximately $4,000,000,000 to ProTech. As part of the transaction, NCT Hearing Products, Inc. ("NCTH") retained 9,415,493 shares of ProTech common stock, which represents 3.5% of the Company's outstanding shares. Four Crystal Funding, LLC received 228,818,183 shares of the common stock and 10,000 shares of preferred shares, which shall have to vote at the rate of 50,000 common shares for each preferred share. Simultaneous with this agreement, the Company changed its name to Four Crystal Funding, Inc. and has applied for a new symbol.
The Company has determined a book value of approximately $15 per share by dividing the total outstanding common shares of 269,197,861 into the current bond value of approximately $4,000,000,000. However, since the bonds were originally issued in 1930 it is very difficult for the Company to monetize the actual value of the bonds. Consequently, the bonds could be significantly discounted when, and if, they are liquidated. As part of the transaction NCT Hearing canceled the debt it held in ProTech and, then in turn, ProTech transferred its pre-investment assets to NCTH.
Commenting on the announcement, Michael Parrella, Chairman and CEO of Four Crystal Funding, Inc. said, "We are excited about the change in our business and will be attacking our target markets. We are already looking at three energy transactions that meet our investment criteria and will be building a broad portfolio of clients."
ABOUT FOUR CRYSTAL FUNDING, INC.
Four Crystal Funding, Inc. is an investment fund founded in 2008, whose purpose is to search for suitable investment opportunities both in the United States and Internationally. The fund has substantial resources and is looking for opportunities in new start up markets in a wide variety of industries as well as the more mature corporate markets. Our goal is to invest in companies that will not only provide great returns to our investors, improve our clients' profitability, but will also be of great benefit to society at large. For further information on Four Crystal Funding, Inc. please visit our website at: www.fourcrystal.com.
Contact: Mark Cohen
CEO
Cohen Consulting
718-428-7651
E-mail: pnaclgrup@aol.com
FORWARD LOOKING STATEMENT
Statements in this press release other than historical facts are "forward- looking" statements within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Exchange Act of 1934. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. Future operating results of the Company are impossible to predict and no representation, guaranty or warranty is to be inferred from those forward-looking statements. Readers are advised to review the "forward- looking" statements' included in our reports which are filed with the Securities and Exchange Commission.
Four Crystal Funding, Inc.
CONTACT: Mark Cohen, CEO, Cohen Consulting, +1-718-428-7651,
pnaclgrup@aol.com, for Four Crystal Funding, Inc.
Web site: http://www.fourcrystal.com/
PCTU
NCT Hearing Products, Inc. Sells Controlling Interest In Pro Tech Communications, Inc.
2008-06-11 06:30 MT - News Release
Also News Release (U-NCTI) NCT GROUP INC
Also News Release (U-PTCU)
NEW YORK, June 11 /PRNewswire-FirstCall/ -- ProTech Communications, Inc. announced today that Four Crystal Funding, LLC has purchased 85% of its common shares by transferring Mexican Sovereign Bonds, with a total face value as estimated by the Mexican Government of approximately $4,000,000,000 to ProTech. As part of the transaction, NCT Hearing Products, Inc. ("NCTH") retained 9,415,493 shares of ProTech common stock, which represents 3.5% of the Company's outstanding shares. Four Crystal Funding, LLC received 228,818,183 shares of the common stock and 10,000 shares of preferred shares, which shall have to vote at the rate of 50,000 common shares for each preferred share. Simultaneous with this agreement, the Company changed its name to Four Crystal Funding, Inc. and has applied for a new symbol.
The Company has determined a book value of approximately $15 per share by dividing the total outstanding common shares of 269,197,861 into the current bond value of approximately $4,000,000,000. However, since the bonds were originally issued in 1930 it is very difficult for the Company to monetize the actual value of the bonds. Consequently, the bonds could be significantly discounted when, and if, they are liquidated. As part of the transaction NCT Hearing canceled the debt it held in ProTech and, then in turn, ProTech transferred its pre-investment assets to NCTH.
Commenting on the announcement, Michael Parrella, Chairman and CEO of Four Crystal Funding, Inc. said, "We are excited about the change in our business and will be attacking our target markets. We are already looking at three energy transactions that meet our investment criteria and will be building a broad portfolio of clients."
ABOUT FOUR CRYSTAL FUNDING, INC.
Four Crystal Funding, Inc. is an investment fund founded in 2008, whose purpose is to search for suitable investment opportunities both in the United States and Internationally. The fund has substantial resources and is looking for opportunities in new start up markets in a wide variety of industries as well as the more mature corporate markets. Our goal is to invest in companies that will not only provide great returns to our investors, improve our clients' profitability, but will also be of great benefit to society at large. For further information on Four Crystal Funding, Inc. please visit our website at: www.fourcrystal.com.
Contact: Mark Cohen
CEO
Cohen Consulting
718-428-7651
E-mail: pnaclgrup@aol.com
FORWARD LOOKING STATEMENT
Statements in this press release other than historical facts are "forward- looking" statements within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Exchange Act of 1934. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. Future operating results of the Company are impossible to predict and no representation, guaranty or warranty is to be inferred from those forward-looking statements. Readers are advised to review the "forward- looking" statements' included in our reports which are filed with the Securities and Exchange Commission.
Four Crystal Funding, Inc.
CONTACT: Mark Cohen, CEO, Cohen Consulting, +1-718-428-7651,
pnaclgrup@aol.com, for Four Crystal Funding, Inc.
Web site: http://www.fourcrystal.com/
Jim are you growing sour lemons out their ?? :):):)
Lemons in B.C.? Blame it on climate change
Balmy Victoria temperatures allowing wider range of fruits and plants to grow
Sandra McCulloch
Victoria Times Colonist; Canwest News Service
Sunday, May 25, 2008
When climate change hands you lemons, make lemonade.
Retired entomologist Bob Duncan and his wife, Verna, are growing big, beautiful lemons against a south-facing wall in his North Saanich, B.C. backyard, something he couldn't have done decades ago when skating on Victoria ponds in winter was a common occurrence.
News that lemons now flourish here doesn't surprise University of Victoria climatologist Andrew Weaver, who adds that gardeners no longer need to bring their geraniums inside over winter.
"We know the climate has continued to warm," said Weaver.
"It takes time for people to wake up and smell the roses, and there are more of those roses now to smell. This is nothing, this is just the beginning."
The Duncans' impressive collection of 200 different apple varieties and 200 other sub-tropical varieties are compactly arranged on a one-third-hectare lot.
This is a homegrown example of climate change, and has Bob Duncan travelling the world doing lectures to horticulture experts.
His goal in the beginning was "to grow as diverse a variety of fruit trees as our climatic conditions would allow -- and those climatic conditions are evolving as we speak," he added.
The idea of pushing the limits of climatic tolerance appealed to Duncan, who retired in December after 30 years of scientific work with the Canadian Forest Service.
"What is possible to grow is anything with a temperate Mediterranean or sub-tropical origin," said Duncan.
You only have to wander through his backyard to realize exactly what he's talking about: there are olives, lemons, pomegranates, persimmons, kiwi fruit, avocado, Chinese dates and guava, among others.
The dwarf fruit trees are growing at an angle along a framework, their branches spaced evenly to maximize their fruit-bearing potential. Duncan calls the setup "a fruity wall."
Managing the garden "is a constant process of trying new things and trying to find out how well they do under our conditions. If they're inferior, it gives me room to try something else."
These plants are alive and well because the area hasn't seen a cold snap of a week or 10 days where temperatures drop to -10 C and don't get above freezing during the day.
Decades ago "you could skate on the local ponds," he said. "The last winter we had like that was 1989."
Now we're seeing nighttime frosts -- a common phenomenon in the Mediterranean, so it suits these kinds of plants.
"If you went into Spain, Greece, southern Japan, frosts are a normal occurrence. There are lovely citrus and all kinds of other sub-tropical plants growing there."
While growing lemons may excite local gardeners, scientists are growing more concerned about weather patterns.
"There's almost a sense that there's a forest fire nearby, and you wait until the fire gets to your house before you leap, and that's too late," said Weaver.
"Dealing with global warming requires everyone to be involved to make a difference."
© The Edmonton Journal 2008
Yup filings confirm this.......
ITEM 12 – SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
The following table sets forth, as of June 29, 2007, certain information with respect to our equity securities owned of record or beneficially by (i) each Officer and Director of the Company; (ii) each person who owns beneficially more than 5% of each class of the Company’s outstanding equity securities; and (iii) all Directors and Executive Officers as a group.
Name and Address (1) Nature of
Affiliation Common Stock
Ownership Percentage of
Common Stock
Ownership (2)
George Morris (3) Director 809,926 62.3%
Roger Casas
108 E. 228 th Street
Carson, CA 90745 Director 1,786 <1%
Shirlene Bradshaw
1900 W. Artesia #38
Gardena, CA 90745 Director 1,714 <1%
L&M Media, Inc. (3) >10% Owner 217,714 16.7%
All Officers and Directors as a Group (3 Persons) 1,080,795 83.1%