ASC Alleges Lethbridge Man Illegally Traded Gusher Oil and Gas Securities

    CALGARY, Sept. 23 /CNW/ - The Alberta Securities Commission (ASC) has set
a hearing date for William M. Mallinson Sr., of Lethbridge, Alberta, to
address allegations that he illegally traded and distributed securities of
Gusher Oil and Gas Ltd.
    In the Notice of Hearing, ASC staff allege that between 2004 and 2006,
Mallinson violated Alberta securities laws when he raised approximately
$2.8 million from 73 Alberta investors by trading Gusher Oil and Gas Ltd.
securities without registration and without a prospectus or applicable
    A hearing is set for October 10, 2008 at 9 a.m. in the ASC hearing room,
6th Floor, 300 - 5th Avenue, Calgary, Alberta.
    A copy of the Notice of Hearing can be found 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.

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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