Berkley Renewables Inc C.BKS

Berkley cancels pre-hearing – future doubtful

[keithAB59]

On Dec 3,2007 Berkley called for a postponement on the EUB Pre-Hearing for the Crossfield sour gas development (EUB application no. 1506785). The Pre-Hearing was scheduled for Dec 5. 2007. Berkley's request was granted and no future date was identified. On November 14, 2007, Berkley filed Form 20-F/A with the SEC. This is an ammended filing and it contains the following note attached to the financial statements: 1. Nature of Operations and Going Concern “These financial statements have been prepared on the basis of accounting principles applicable to a going concern which assumes that Berkley will continue in operation for the foreseeable future in regards to its oil and gas operations … Adverse conditions and events cast substantial doubt upon the validity of this assumption. The Company has incurred significant operating losses over the past several fiscal years and as at December 31, 2006 the Company does not have sufficient financial resources to meet its flow through expenditure requirements in 2007.” Berkley Resources Inc. Form 20-F/A Filing Date: 11/14/2007 page 54 For more information, go to https://livermore.brand.edgar-online.com/fetchFilingFrameset.aspx?Type=HTML&FilingID=5545708&text=restatement Search on “going concern” for this information and other similar quotes relating to Berkley's uncertain financial viability.

[Umpolung]

"On November 14, 2007, Berkley filed Form 20-F/A with the SEC. This is an ammended filing and it contains the following note attached to the financial statements:" This section shouldn't surprise anyone who's followed Venture stocks for any period of time. What raises my eyebrow is the fact insiders were buying on the eve of what they likely knew was going to be perceived

[tradewatchers]

The Nature of Operations and Going Concern Note you mention was also in last years Financial Statements.  The Sept.30/97 Interim Statements filed on SEDAR on Nov.29/07 state in Note 10 page 13 that the Company is still short $950,000 in exploration expenditures renounced to investors under the tax flow-through look back rule and that the Company has until December 31, 2007 to incur the

[judroninc]

Maybe what this company needs is a bunch of shareholders with enough balls to get behind and encourage. The Crossfield project holds excellent potential for a "producing" well. Otherwise why would some be objecting so strongly?? Could it be that the objections are not coming from the local citizens, but rather from land speculators who've recently moved in to sell estate

[keithAB59]

I sense some frustration in the last posting. There certainly is an issue of Hotshots with a serious case of personal greed looking for a fast buck. Reality is that they are from Vancouver – not Toronto - and they are treating their investors with the same contempt as the residents up here in the Crossfield area. Unfortunately, you have made a lot of bad assumptions about Berkley Resources and