hey! we might actually get our stolen leases back!
...or at least some of the $40M that ACLY owes us for them!
I don't think they were stolen. It was all part of the shell game of the now you see them, now you don't smoke and mirrors game.
They are all in bed together!
Ralph sold them to Jeffrey Fanning and Lariat Energy. Lariat backed them into Arcland. Fanning received $7 million in shares or notes.
Fanning and Pinedo both have exposure to Arcland and Chancery.
I think Arcland has all the assets after r/m piggy backing into Implantable Vision. Not sure if the docs over there are still suing?
The whole thing is a mess between American Petroleum, General Energy, Lariat Energy, Pilgrim Petroleum and Arcland.
Who owns what is the million dollar question. Make no mistakes, Ralphy is still pulling all the strings!
Arcland has done something that warrants an 8-k so it should be interesting to see what develops. ACLY may be the lesser of all evils to make money from going forward.
If somebody has better info please post! I have been playing the dips but got bored of following the story.
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