CALGARY, Oct. 19 /CNW/ - The Alberta Securities Commission (ASC) has
announced a settlement of $20,500 with Nova Scotia oil and gas drilling
consultant Stanley Kroetch regarding allegations of illegal insider trading.
Kroetch has also agreed to cease trading in or purchasing securities, with
some exceptions, for a period of four years.
In a Settlement Agreement, Stanley Kroetch admitted he used insider
information to sell 58,500 shares of Marauder Resources East Coast Inc. At the
time, Kroetch was contracted by EnCana to provide drilling consulting services
for a joint EnCana/Marauder well project off the coast of Nova Scotia. Kroetch
avoided a loss of $9,004 through this transaction.
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.
For further information:
For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481, firstname.lastname@example.org; For Investor
Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488