Canada has the third largest hydrocarbon reserve in the world after Saudi Arabia and Venezuela – a large part of that is due to new technologies for shale and the oil sands. Shale is not unique to Canada and although there are very economic plays in Canada, the oil sands are a resource that is uniquely Canadian (oil sands exist elsewhere but Canada has by far the largest deposits).
TVOG "In addition, the company has initiated steps to remove the Cease Trade Order in Canada."
Cease Trade Order
As part of these important regulatory and reporting steps, the Company is working aggressively to meet any filing requirements with the Canadian regulatory and reporting agencies to remove the Cease Trade Order due to previously discontinued filings which restricted any trading from Canadian accounts. Now that the Company is a fully reporting SEC filer, the Company believes that it meets any such requirements and is therefore submitting a letter and filing to this effect as soon as possible. Company representatives met with legal groups in Vancouver last week in order to advance this promptly.