DD Support Board and Research Team

[nodummy]

PGIE - Intertorco - more mixed up than you think

If you read the PGIE / Intertorco agreement and the accompanying press release, Intertorco is named as both the trading partner and the buyer.

The press release states that Intertorco and PGIE are trading partners:

http://ih.advfn.com/p.php?pid=nmona&article=48589948

PGI Energy has entered into an allocation agreement with its limited joint venture partner Intertorco Europe S.A. as the exclusive trading desk for six million (6,000,000) Bbl per month for twelve (12) months with option for 60 months extensions to sale Saudi Light Crude Oil from Saudi Aramco

The agreement between PGIE and Intertorco says that Intertorco is the buyer of the oil and PGIE is the seller:

http://www.pgienergy.us/disclosure/saudi-aramco%20agg.pdf

On Page 1 they establish that PGI Energy is the “Allocation Holder” and Intertorco is the “Allocation Provider”:



Then on page 6 it says this:

The Allocation Holder with Full Legal and Corporate Responsibility agrees to sell to the Allocation Provider the herein specified SAUDI LIGHT CRUDE OIL in the quantity and quality as agreed. The Allocation Provider, with Full Legal and Corporate Responsibility, agrees and irrevocably commits to purchase the said SAUDI LIGHT CRUDE OIL, in accordance with Annex "A" in the quantity and quality herein stipulated.


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Then the next Press Release put out by PGIE says that Intertorco is the owner of large oil fields in Sudan and is looking to purchase some $800 million dollars in equipment through PGIE for those oil fields.

http://ih.advfn.com/p.php?pid=nmona&article=48664824

Here is that purchase order:

http://www.pgienergy.us/disclosure/Intertorco%20Oil%20Equipment%20PO.pdf


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So what is it? Does Intertorco own oil fields? If so why do they need to buy oil through PGIE?

The Intertorco website clearly shows that Intertorco is only involved in one past project that is focused on agriculture and the rest of their "projects" are future projects none of which ever involved oil until PGIE came along.


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I've already started to put together information about how Intertorco Europe S.A. is no where near the company that PGIE is making them out to be.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65798230

$800 million equipment orders, Multi-billion dollar oil purchases.

I don't think so.

Intertorco Europe S.A. is a 3 year old company (formed on 8/7/08)

http://www.einforma.com/servlet/app/prod/DATOS_DE/EMPRESA/INTERTORCO-EUROPE-S.A.-C_QTM1OTk4OTQ3_de-PALMAS-%28LAS%29.html#1REGISTRO

Their website is only 2 years old.

They have only one officer.

http://www.informacion-empresas.com/Empresa_INTERTORCO-EUROPE.html


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I have been keeping tabs on PGIE since day one.

In my personal opinion PGIE is mostly just a fraud company set up to enrich its founders and insiders and I plan on organizing all my notes and pointing out all the shady connections this group has had in the past and all the previous misleading statements this company has made.

Even PGIE has pointed out the stock awareness campaign going on

In light of the significant liquidity in our stock we consider our new IR campaign a success and intend to fully extend the program with ISG for six months. We have had discussions with them about expanding our market reach with the campaign and have agreed to put up additional funds for the campaign expansion.

And PGIE continues to tell investors in advance when press releases will be coming out.


Does that sounds like how a real company putting together real operations would behave?