CALGARY, Jan. 7 /CNW/ - The Alberta Securities Commission (ASC) has
issued an Amended Notice of Hearing alleging Ohio-based Roger A.Kimmel Jr.,
Petroleum Unlimited, LLC and selling agent Global Petroleum Strategies, LLC
(previously based in Florida) engaged in an illegal distribution of Petroleum
Unlimited securities to Alberta residents.
ASC staff allege that since March 2008 the named parties solicited 14
Alberta residents to buy Petroleum Unlimited securities, raising at least
$325,000. ASC staff allege that investors were promised unrealistic monthly
returns on their investments for life.
The named parties are currently under a July 2008 ASC interim cease trade
order that prohibits them from trading in any securities and denies them use
of all Alberta securities laws exemptions. The interim order will remain in
effect until a hearing into this matter is concluded and a decision rendered.
An appearance to determine a date for hearing is set for February 20,
2009 at 8:30 a.m. in the ASC Hearing Room, 6th Floor, 300 - 5 Avenue S.W.,
A copy of the Amended Notice of Hearing is available on the ASC website
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.
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