ASC Alleges Illegal Insider Trading by Oil and Gas Operations Manager

CALGARY, Nov. 4 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing against Bradley Arthur Wilson alleging he engaged in illegal insider trading of Alberta Clipper Energy Inc. securities.

ASC staff allege that Wilson, who was Alberta Clipper's operations manager, purchased company shares in July and September of 2006 with knowledge of favourable oil and gas production testing results and an intended land purchase that had yet to be disclosed to the public. ASC staff allege that by illegally using this insider knowledge to purchase shares, Wilson was able to realize a total profit of over $28,000.

An appearance to set a date for hearing in Calgary will held on December 10, 2009, at 8:30 a.m. in the ASC Hearing Room, 6th Floor, 300 - 5th Street 5th Avenue SW, Calgary, Alberta.

A copy of the Notice of Hearing can be found on the ASC website at www.albertasecurities.com

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: Mark Dickey, Senior Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488

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Alberta Securities Commission

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