June 2, 2009 Investor warnings - News Securities

Montréal – The Autorité des marchés financiers (AMF) is urging investors to be cautious about the following companies and representatives:

• Oil International LLC (Gavin Morgan and John Andrew);
• Black Gold International Ltd;
• Trinidad Oil and Gas Corporation.

Representatives of Oil International LLC, a company based in Panama City, have contacted Canadian investors by telephone or e-mail. The representatives, Gavin Morgan and John Andrew, offered investments for the development of oil wells in Texas on behalf of Black Gold International Ltd. The company, which is registered in Belize and has offices at Nassau in the Bahamas, conducts the operations of Trinidad Oil and Gas, which is based in Texas and is in charge of oil field development.

Investors were told that additional information about the investment terms and conditions was available through a toll-free number or by e-mail. It appears that investors are generally asked to transfer funds electronically for deposit in an account in trust held at a bank in Texas.

On May 8, 2009, the Saskatchewan Financial Services Commission (SFSC) issued a temporary cease trade order against the above-mentioned companies and individuals. None of them is registered with the AMF or the SFSC. The AMF is co-operating with the SFSC in this matter, although it is not yet known whether Québec investors have been solicited.

"Investors should always check with the AMF Information Centre to determine whether the firms and individuals offering investments or brokerage services have the necessary authorizations," said Anne-Marie Poitras, Superintendent, AMF Client Services and Compensation. "Investors who turn to companies that do not hold the proper permits often lose their funds and the recourses available to them are often limited," added Ms. Poitras.

For further information, read Red-Flagging Financial Fraud. You can download this brochure from the AMF website or order it through the AMF Information Centre. It will help you recognize several types of illegal tactics, and provides tips to keep you on guard against wrongdoers.

If you believe you have been approached by any of these companies, contact the AMF Information Centre.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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Information:

Media only:
Sylvain Théberge: (514) 940-2176

Information Centre:
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Montréal: 514-395-0337
Toll-free: 1-877-525-0337