Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
sounds like we have no recourse...thanks for sharing Echo
great information Echo...wondering if any legal action is possible against CGHI Board including Dale Paul who was in charge early on. I recall that he had a large investment in CGHIthroug a family owned investmetn fund.
Guessing he recovered some of this investment while the average stock holder was left with nothing but valueless stock.
Echo..similar expereince...I lost a lot of money on this stock beleiving they had a great chace to reap big profits with the Alaska gas exploration. Never did understand how CGHI spun this company off w/out investors gettng anything in return ...same with primrose gold mine sale. Ivestors simply were take for a ride.
If CGHI owned a part of OOGIE, shouldn't CGHI shareholders have part ownership of OOGIE. Arhtur Johnson is listed as the OOGIE CEO ...He is also CGHI's
If he somehow structured the deal to exclude CGHI shareholders it smacks of a conflict if interests and a breach of his duties to CGHI shareholders.
Echo, question regarding OOGI.
Why didn't CGHI shareholders receive stock in OOGI or maybe they did?
can anyone provide an update On CGHI's balance sheet. Do they still own any assetts ? A few years ago they aquired several Platinum Gold , Copper and Silver mines. Have they all been sold and if yes ...where did the money from these sales go? What about Dale Paul's ownership in the company...as I recall his family alos had an investment fund that sunk millions into CGHI...was he somehow compensated at the expense of the other shareholders?
Hi Echo, just sent e-mail per your request
Ditto for me Echo, I will support whatever you can get.
will send a letter Echo...thanks for all of your hard work on this matter.
wondering how Dale Paul and Arthrur Johnson fot into this picture...It feels like their may be collusion beteen the the 3 of them. Can we determine whether they have any compensation or personal gain associated with teh Keith Hart deal.
I think I confused laurus with Daros. Per Below, I beleive Daros Limited has a significant financial stake in CGHI and I think Dale Paul and his family owned Daros.
PARTIES
DAROS LIMITED, a company registered under the laws of the British Virgin Islands
with company number 583614 whose administrative office is at Pausillipe Chemin
des Trois-Portes 11 CH2000 Neuchatel Switzerland ("Daros"); and
CENTURION GOLD HOLDINGS, INC, a company registered under the laws of Florida USA
with company number 65-1129207 whose registered office is at Mainreef Road,
Primrose, South Africa ("Centurion
interesting that the Laurus Fund is not looking to join us
I think Dale Paul and his family own the Laurus fund.
I wonder how his interests line up with this whole issue.
Echo, I just resent the 2nd of my my original e-mails to the following address
Please send an email to curtispmail-lanf@yahoo.com or curtispmail-xlan@yahoo.com.
Let me know if received...thanks.
Wow, it is clear that the CGHI shareholders have been "shafted".
thanks Echo...i'll start sending e-mails
what do you think our chances are of forcing them to compensate us. How do we force the issue. Seems like we need some type of legal action brought against them but this could be costly.
given the amount of money Primrose is making annually, I think $2 per share would be affordable for them although not sure if the amounts you cite represent their annual profit or total revenue before deducting for expenses.
Regarding how much is enough ...I would be happy with anything we could get above 50 cents per share.
Is there anything we "disgruntled investors" can do to help push for $damages?
I am with you there...as it stands ...I will hold until good things happen or the company goes belly up.
I am thinking that the volume does not translate to much in the way of significant Money being invested.
10 million shares at .006 is $60,000
neilhk...curious to hear your thoughts on Daros Limited...it seemes to me that Dale Paul and family....would want to make the cook inlet venture work and have CGHI participate in its success?
Assume CGHI's throwing in the towel means that Dale Paul is also done...I thought for sure they would find the funding somewhere?
CGHI Ownership and Funding
"The principal stock holder of CGHI is Daros Limited (a Swiss based Company owned by the Daros Trust) which currently holds 40.7 per cent of its common stock." See page 36.
and:
"The shareholder of Daros Limited is the Daros Trust, a Trust registered in the British Virgin Islands for the benefit of Dale Paul’s family." See page 36.
and:
"CGHI is currently funded by Daros Limited." See page 37
Neilhk...many thanks...I truly appreciate your work and insights and I agree with your assessments regarding CGHI.I remain optimistic that the the funding will come through and the investments in Cook Inlet will prove to be very lucrative down the road.
http://www.alaskajournal.comWeb posted Sunday, November 12, 2006
Escopeta: Jack-up rig is coming, despite dispute
By Phil Hermanek
Peninsula Clarion/Morris News Service-Alaska
KENAI - Contrary to what was being discussed on local talk radio Oct. 30, Escopeta Oil Co. is moving forward with plans to bring a leased jack-up rig to Cook Inlet next spring, but the plans are not without a hitch.
Kenai Peninsula talk shows reportedly had a caller saying the company that owned the Songa Tellus jack-up rig had been sold, and the rig would not be coming to Alaska waters.
"The Songa Drilling Co. - the company that owns the Songa Tellus - was sold earlier this year to the Abbot Group," said Steve Sutherlin, an Anchorage-based adviser for Escopeta.
"We believe that actually made Songa a stronger company," he said, and added that the contract between Songa and Escopeta remains firm.
Escopeta chief executive officer Danny Davis, however, said Abbot, an English oil services company that now owns Songa, is not honoring the contract Escopeta had with Songa.
"We paid Songa a half million dollars up front and they were supposed to get the rig ready and we were to have the boat there to pick it up," Davis said.
"It was supposed to be ready June 1, June 15," Davis said. "The rig wasn't ready, and still isn't."
"Abbot wanted more money, but they can't change the contract now. We had a deal," he said.
When reached on his mobile phone in England on Oct. 31, Abbot Group executive chairman Alasdair Locke said, "It's entirely up to (Davis). If he wants to fulfill the contract ... it has nothing to do with us."
Davis said he thinks Songa took the $500,000 believing Escopeta would not be able to obtain a Jones Act waiver allowing a foreign-flag vessel to pickup the jack-up rig at an American port for delivery to another American port - a practice forbidden by the Jones Act.
Escopeta, however, managed to get a waiver and contracted with Coscol Investment and Development Co. of Hong Kong for the Tai An Kou heavy lift vessel to bring the Songa Tellus from Port Arthur, Texas, in the Gulf of Mexico to Cook Inlet.
When the vessel arrived at Port Arthur this summer, the rig, which was being completely refurbished to operate in Cook Inlet, was not ready, Davis said.
In Cook Inlet, drillers are not allowed to discharge process water and other liquids from drilling operations, so Songa Tellus is being equipped to meet the requirement, Sutherlin said.
"Songa Tellus is the right rig for Cook Inlet," he said.
Exploration wells are to be drilled in approximately 70 feet of water, six miles north of the Kenai Peninsula.
The first well will be drilled and tested to 17,000 feet, Davis said earlier.
Known as the Kitchen Prospects, the Escopeta-Centurion targets include the East Kitchen, North Alexander, Kitchen and South Kitchen wells, which could contain recoverable reserves of up to 7 trillion cubic feet of natural gas and between 435 million and 1.2 billion barrels of oil.
Escopeta partnered with Centurion Gold Holdings Inc., a South African resource development company, to finance the venture.
The company's in-house geologist estimates 450 million barrels of oil and 2.7 trillion cubic feet of natural gas to exist in the No. 1 East Kitchen target and 800 million barrels of oil and 4 trillion cubic feet of gas in the No. 1 Kitchen target.
The Songa Tellus is an independent leg, cantilever jack-up rig that can work in 250 feet of water with a drilling depth of up to 20,000 feet.
The contract dispute between Escopeta and Abbot Group is now being litigated in a Texas courtroom.
"If he wants to negotiate through the press ... he needs to contact the company, which he has refused to up to this point," Locke said of Davis.
Davis said Abbot wants more money for use of the Songa Tellus jack-up rig, but he believes when Abbot bought Songa Drilling, they also bought the contract as negotiated.
"That's why we're now in court," Davis said.
"Trust me, if we can work something out, we will be up there (in Cook Inlet) in April," he said. /stories/111206/oil_20061112058.shtml
Adam, based on the information you provided, I am inclined to agree with you and I am no longer interested in the options deal.
I can simply hold onto what I have already bought and hope that somehow the track record of disappointments delivered by CGHI management somehow reverses itself with positive news on the funding needed to move forward.
That said, I find your arguments to be very convincing and they were presented objectively.
I would be interested in this Adam ...can you provide more details on how you envison this being set up.
I have been backing the truck up for nealy 3 years on this one and I will stay long until the true valuations are reflected in the price. I continue to be amazed at how low this stock has fallen.
so...any news on the IPO? Unless I missed something...Centurion never filed their financials...my guess is they decided to wait until after the IPO.
Does anyone have a feel for how long the IPO sale takes i.e offering on 10/04 ..should be completed by xx/xx/06.
when it gets to $.20 I might also do some profit taking but I guess I am going to have to wait until we do the IPO and start drilling.
still no filing??? a few days is turning into a few weeks
have not seen any infomation in web search...assume the filing will take place this week...any word on recent resignation...interested in knowing whether it was voluntary or forced.
I am guessing the filing will show disappointing mining results...they should have increasing revenues by now out of their gold field assetts and Kieth Hart was the guy in charge.
any news on the pending IPO ...still in quite period?
I am hoping to see an improved revenue stream on the gold mining efforts.
thanks for the info on Dale Paul...it makes sense and I agree that if they get the IPO done and adequate funding for their plans ...this stock could quicly go up to 20 cents and steadily improve upward when the real assets start driving profitable revenue.
Maybe the increased revenues from their numerous gold, platinum and tin mines is so large...it is taking a long time to add them all up. Kidding aside, I am hoping for 2 things...revenue stream shows improvement on the precious metals side of the house and additonal funding is obtained to advance and support the oil venture...I would expect some of the Escopeta debt obligation to be restructured for a later payment given the delay in retrofitting for delivery of the rig.
Also, can anyone comment on why Dale Paul left CGHI?
Somewhat dated but this link provides some interesting detail on the drilling plan...although this willnow be pushed back due to the refurbishing effort.
http://www.borough.kenai.ak.us/kenairivercenter/Agencies/coastal/PDFs/UnderReview/04-27-06FinalKitch...
hello...I am new to this site but I am impressed with your level of info regarding CGHI...I am hoping you might have info you would share on why Dale Paul resighned as president.
I was under the impression that he was the driving force behind the Escopeta O/G business venture.
I would assume he had the business relationship with Danny Davis ...Escopeta President.
Surpised Dale Paul left before this venture was completed.
thoughts?