The Golden Lounge

[joelegs]

Speaking of BS stories:

James Monroe Capital Corp. Explains the $270 Million Dollars Worth of Waste/Sludge Oil Deal and Royalty Trust
Last update: 5/10/2007 2:14:19 PM
KILLEEN, Texas, May 10, 2007 (BUSINESS WIRE) -- James Monroe Capital Corp. (Pink Sheets:JMCP) President, Frank Love states, "The Company is in negotiations to form a strong alliance through our Joint Venture with a US company having operations in the oil and gas industry of the Russian Federation, to participate in this very lucrative market. Closing this agreement will be one heck of a first cast of the net for James Monroe Capital Corp. into the Oil & Gas market. The Company having access to oil waste that could generate several $100 Million dollars of revenue, contained in above ground pits was a second awesome cast of the net. When we were notified of the potential to acquiring rights to oil wastes sites is practically unlimited, we were absolutely floored.
The oil waste sites the JV will be pursuing initially, are ones that are mainly an oil and water mixture, where the water is spun out via a mobile centrifuge plant that can process at least 10 metric tons per hour, this equates to roughly 40-50 barrels of waste oil per hour, per centrifuge plant. Mobile centrifuge plants cost roughly $500K each and can be easily moved from location to location via 18-wheeler transports and are operated by a two-man crew. Today's oil prices in the $60 per barrel range equate to potentially substantial gains."
Frank Love explains the Royalty Trust, "The James Monroe Capital Corp. Royalty Trust will be a balanced mix of James Monroe Capital Corp. revenue producing oil properties, located throughout the world, Gas & Oil royalties like Sabine Basin Royalty (SBR), Energy Trusts such as Prime West Energy (PWI), and Pengrowth Energy Trust (PGH). This allows our royalty trust to earn revenues in the form of dividends, interest and royalties from the various operations and joint ventures we participate in whether in North America or across the globe in Russia.
"By having these NYSE Blue Chip REITs, Royalties and Trust embedded into the James Monroe Royalty Trust, with each paying dividends month after month, year after year and in some cases decades. We establish our James Monroe Capital Corp. Royalty Trust with the power of the NYSE as our foundation."
Frank Love further states, "June 1, 2007 will be another great milestone for James Monroe Capital Corp. Having any and all short positions closed from that date forward, because nobody wants to be caught short when your dealing with dividend paying NYSE; REITS, Royalties and Trust, will allow us to see an actual picture of what our stock will look like as we move into the buy back phase of our companies common shares. We will announce our monthly buy backs via a press release and only buy back shares in the open market. Our transfer agent, 1st Global Transfer Agency, will then cut a treasury certificate for the retired shares of which will be publicized as retired with certificate number. We will not reverse split our stock."
For the record Frank Love states, "I own no common shares, I have money that I made with my other business ventures. I will only take pay once this company is profitable. This is the way I do business. When I took the position as President of James Monroe Capital Corp. there were 45 Billion shares issued and basically no assets left in the company and the stock sitting at .0001. I feel James Monroe Capital Corp. is strategically positioned to carry our company and extremely loyal shareholders well into a very successful future."
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
SOURCE: James Monroe Capital Corp.

For James Monroe Capital Corp.:Harold Engel, [e-mail]

Copyright Business Wire 2007