ASC Settles Illegal Insider Trading Allegations with Geological Consultant

CALGARY, June 9 /CNW/ - The Alberta Securities Commission (ASC) has concluded a settlement with Robert George Bain regarding allegations of illegal insider trading of Vast Exploration Inc. securities. Under the settlement agreement Bain paid the ASC $11,000 to settle the allegations and $8,000 towards costs. Bain also agreed to cease trading in or purchasing of securities for a period of 15 months.

In the settlement agreement, Bain, a geological consultant for a business partner of Vast Exploration, admitted he had knowledge of undisclosed information relating to a significant oil and gas production sharing contract when he bought 20,000 shares of Vast Exploration on May 16, 2008. The accrued gain of Bain's share purchases was $6,400.

A copy of the settlement agreement is posted on the ASC website at

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

For further information: For further information: For Media Inquiries: Lorinda Brinton, Senior Advisor, Investor Education, (403) 297-2665; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488

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