New Brunswick Securities Commission

Securities regulator takes action on purported Texas Oil & Gas scheme (10/04/20)

NB 570

April 20, 2010

SAINT JOHN (CNB) - A cease-trade order has been issued by the New Brunswick Securities Commission (NBSC) against several companies and individuals involved in a purported oil and gas investment scheme.

The order, issued by a panel of the NBSC, bans the following companies from operating in the securities industry in the province and provides that any exemptions to New Brunswick securities laws do not apply. This order recognizes an order issued by the Saskatchewan Financial Services Commission (SFSC) and is in effect for as long as the SFSC orders are active:

The NBSC issued an investor alert about these companies and individuals in November 2009.

The SFSC order indicates that Oil International LLC was engaged to sell Black Gold International Ltd. securities. It also indicates that Morgan and Andrew may work for one or more of these firms, may be soliciting on their behalf, and that Trinidad Oil and Gas Corp. is a company with an office in Texas.

At present, there are no known New Brunswick investors. The NBSC co-operated with SFSC and other securities regulators on this matter.

New Brunswickers are urged to report any contact by the companies or individuals listed to the NBSC at 1-866-933-2222 or at information@nbsc-cvmnb.ca.

As an independent provincial Crown corporation, the New Brunswick Securities Commission oversees the capital markets in New Brunswick and regulates those that sell or manage securities. The NBSC is funded by regulatory fees paid by those operating in the investment industry including public companies, mutual funds and more than 7,000 registered individuals and firms.

10/04/20

MEDIA CONTACT: Michelle Robichaud, communications, New Brunswick Securities Commission, 506-643-7045.

10/04/20