Rift basin resources

In August, 2011, IIROC formally initiated an investigation into the conduct of James Watson, a trader with Jones, Gable in Toronto.
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) said Monday it has accepted a settlement agreement between IIROC staff and James Watson, a proprietary trader with Jones, Gable & Co. Ltd. in Toronto.
IROC said Watson admitted that between November 2010 and April 2011, he contravened universal market integrity rules (UMIR) by entering orders for former TSX Venture Exchange company Mayen Minerals Ltd. that he knew, or ought reasonably to have known, would create, or could reasonably be expected to create, a false or misleading appearance of trading activity in the shares.
During the relevant period, Watson entered orders to effect a high closing bid price for Mayen, thereby misrepresenting the performance and actual demand for the stock, as well as the profit and loss position of the Mayen shares held in his inventory account.
In September, 2012, following a one-for-two stock split, Mayen changed its name to Rift Basin Resources Corp. Ltd. (TSX: V.RIF, Stock Forum). It traded at 9.5 cents on Monday, leaving the company with a market cap of $3.9 million, based on 41.2 million shares outstanding. The 52-week range is 15 cents and 2.5 cents.
Under the settlement agreement, Watson agreed to pay a $10,000 fine to IIROC and to a suspension of access to IIROC-regulated marketplaces for a period of 14 days. He has also consented to pay $1,500 in costs.
IIROC formally initiated the investigation into Watson"s conduct in August 2011. The conduct occurred when he was a registered representative in the Toronto head office of Jones, Gable.
He remains a Jones, Gable

www.infomine.com/index/pr/PB109260.PDF

Umbenennung von mayen in rift

Nächste Abzocke ?

a further US$300,000 within 10 days of a request by Alpine to Rift Basin International in accordance with the work program and budget issued under the joint operating agreement for the Permit that relates to such seismic acquisition.
London-based Gulfsands Petroleum plc (AIM:GPX) ("Gulfsands"), the Company's strategic partner (as announced in the Company's news release of November 16, 2012), is currently acquiring an additional 30% participating interest in the Permit, subject to various regulatory approvals, to ultimately hold a 70% participating interest and be the Operator for the Permit.

As noted above, the Permit is under a PSC and the PSC requires a minimum work program comprised of drilling one well to 2,500 meters total depth during the first renewable period July 13, 2012 to July 12, 2015. Estimated costs to drill and test one well are CDN$7,000,000 (or approximately $1,050,000 net to Rift Basin Internationals' 15% working interest).

The Acquisition is subject to a number of conditions, including but not limited to, applicable regulatory approval (including approval of the TSX Venture Exchange ("TSX-V") and ETAP). There can be no assurance that the Acquisition will be completed as proposed or at all.