Kingslake Energy Inc. (fka KGLJ)

[downsideup]

Charts show 4.3 million shares traded at $0.005 yesterday.

Otherwise, I haven't a clue...

I think the properties did get sold off by White in what looked like an obviously shady if not entirely criminal deal. Never was disclosed what "deal" it was that got made that had the properties revert back to being owned by White instead of KGLJ. The terms of the sale showed that achieving "production" on a well required completing the transfer of the property ownership to KGLJ... so, given wells WERE completed to production... as confirmed to me by White himself... the producers became KGLJ owned properties.

I'd learned a while back that the properties had been offered for sale again by White after the wheels came off on the STOCK... without White ever having disclosed that there had ever been any other owner... so, he MADE the deal to put the properties in KGLJ, and he was responsible for putting KGLJ together in the first place, and was responsible for getting the illegal shell that was being used for trading the ownership interests in KGLJ, and then he tried to sell the properties off to someone else while blatantly misrepresenting them... as if he'd owned them free and clear all along and had never done a deal with KGLJ ?

Blatant fraud... not only in the STOCK given the use of the illegal shell... but also in the apparent effort to steal the properties from the company and to misrepresent them in re-vending them to someone else...

White had to pay something to KGLJ to get the KGLJ owned properties back...

Maybe he did... and then JP took the money and ran ? Or, maybe he didn't, and the whole thing was just a total fraud from start to finish ?

White apparently did get kicked off the boards of some of those other companies he'd been associated with... and the RRC did force him to register for a time...

I haven't checked up on the situation in a while...

Might be worth doing a look around again soon ? Maybe the SEC or the state are still poking at it ? I don't remember hearing what came of it after the indictments... ?