I was told that the TRGC Newsletter was coming and it did not. Sorry, even though it was not my fault. If you didn't read the BOBZ post, here it is again.
1) Mr. Tom O'Dell, CEO of Trinity etc., IS THE KEY PLAYER. A committee
member, Mr.Art
Teichgraeber, an extremely savvy oil and gas company owner, brought
Mr. O'Dell to the
committee. Mr. O'Dell, I believe, is owner of Carlton Energy in
Houston. He worked many
years for Conoco, left and started his own private oil and gas
concern several years ago. He
appears to be WELL CONNECTED in this risky business.
2) Mr.Michael Wallace is a 42 year old attorney, single for whatever
reason, who has worked
in Houston previously, was working until this year for a utility in
the north, who was asked to
take the position of President for our company. He is intelligent,
business-wise and aggressive.
3) Both these gentlemen are to receive 10 million shares @ $ 0.25/share
at one year as
compensation ( additionally, $ 10,000.00 / month salary for
M.Wallace ) so there is incentive!
4) Trinity has a Letter of Intent with the government of Chad through
their Minister of Interior
to lease 252,000 square miles. Both Trinity officers were recently
in Chad ( Mr. Tom O'Dell
left for that country immediately after Judge Ackerd's Trinity's
confirmation in early November )
for negotiations and plan to return to Chad in January for the
formal signing of this rather large
lease. Important information is that the country abuts Libya and
Sudan, Exxon has a large oil and
gas play in Chad on which it is currently producing and Trinity's
properties are adjacent to
Exxon's elephant-sized exploration. Mr. Wallace stated it was
currently believed the lease-to-be
has at least $ 500,000,000 worth of hydrocarbon if a conservative
$3.00/barrel was assigned.
Air magnetic seismic studies are required and will be done as soon
as possible because he
did not Trinity to carry the costs of the lease for an indefinitely
long time. My logical ( if that
is important ) conclusion is that a JV would be around the corner.
5) Trinity signed a Letter of Intent to purchase a domestic property
which will bring in revenue
of $100,000.00/month to the company. The formal 15 day cooling-off
or hold period
ends Monday and the deal will be done.
6) Further plays were being considered ( Paraguay was not mentioned )
for Trinity but I did not
inquire into them.
7) The Colombian play may be revisited in January with Ecopetrol.
8) Judge Ackerd in pleadings essentially ruled that Sid Sers had no
future claims against the
new Trinity corporation and Mr.Michael Wallace seemed very pleased
that no further litigation
with this GUY was probable. Haynes and Boone no longer represent
this GUY.
9) The $3-4 million of frozen, shall I say, Trinity assets by the SEC
are still in question and may be
litigated by our favorite government agency with the help of, guess
who?, Andrews, Kurth
and Van Oliver. Probably lost monies in my opinion, but not
critical to the company at this
time.
10)A news release concerning the new Trinity Energy Resources Inc. and
its activity should follow
shortly. Exactly what form or media will be used, I do not know,
perhaps, when all shareholders
are informed by letter and option to exercise the rights offering.
Though TRGC may be traded, I forgot to ask about NASDAQ filings with
adequate accounting
information ( perhaps Robbins,Sampson information can be used ) and the
new transfer agent
for the company. Suggested 60 million shares ( public
and restricted ) have been
demonstrated with ownership and hopes for $ 5-10 million or 20-40
million rights-shares may be
exercised. Perhaps, the name and phone number of the transfer agent can
be obtained so that we may see if shares are being issued for the new
Trinity acquisitions - yes, dilution. |
