CALGARY, Aug. 14 /CNW/ - The Alberta Securities Commission (ASC) has
concluded a settlement with John James Rickard Noble regarding allegations of
illegal insider trading of Duvernay Oil Corp. securities. Noble paid the ASC
$75,000 to settle the allegations and $5,000 towards costs. Noble also
undertook to cease trading in or purchasing of securities for six months.
In the settlement, Noble admitted that when he acquired 100 Duvernay Oil
call option contracts on July 10, 2008, he ought to have known he was in
possession of material undisclosed information regarding the pending July 14,
2008 acquisition of Duvernay Oil by Shell Canada Inc. On July 14, Noble became
aware that he was prohibited from trading in Duvernay Oil securities and
attempted to cancel his purchase, ultimately not profiting from it.
A copy of the Settlement Agreement is available on the ASC website at
The ASC is the regulatory agency responsible for administering the
province's securities laws. Its role is to foster a fair and efficient capital
markets 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.
For further information:
For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488