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Gold/Mining/Energy : TRINITY GAS CORP. [TRGC]
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To: flash who wrote (795)5/13/1998 7:19:00 AM
From: Pete Schueler   of 1081
 
I have to agree with Flash that Sid has intentionally duped all TRGC investors including myself with respect to the ownership of the Colombian concession.

I bought TRGC stock in early June 97 after receiving a corporate information package from Dick Guillemin. This package contained a 26 page (two sided sheets) "Trinity Gas Corporation Executive Summary" divided into 4 sections covering 1)Company Synopsis 2)Colombian Operations 3)Domestic Operations 4)Financials. The Balance sheet for 12/31/95 shows an entry under Other Assets for "Investment in Trinity Columbia" (sic) in the amount of $120,637. In the notes to the financials Note 7 says "During 1995, the Company expended efforts to acquire the exclusive oil and gas exploration rights held by Trinity Gas Columbia." Under note 8 it further said "Trinity Gas Columbia transferred to the Company the exclusive rights to drill for oil and natural gas in the southwestern region of Columbia, South America. The investment is valued at the cost of the amounts expended to acquire the drilling rights."

Now we are told that TRGC doesn't own these rights. Aside from the fact that "Trinity Columbia" couldn't spell the name of the country properly there is no indication in any of this material that TRGC did not have a direct stake in the area. This is the apparent fraud.

Can Verdad or someone else explain this inconsistency?
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