Regent Ventures Ltd RGVNF

Eurogas, Regents and Exchange

[Monedas1]

Curtis,

My sources indicate that you are correct - until Eurogas straightens out their audit and reporting problems with the exchange, the McCallan deal can not be finalized.  Right not, Eurogas can not be traded on any exchange.

1. Eurogas has two options, have an auditor prepare and submit the 2-3 years delinquent filings or transfer assets and re-open under another symbol.  Submitting the delinquent reports will cost money and will take 4-6 months depending on how fast Eurogas managment moves.  Setting up a new symbol under which to trade also costs money and will take about 8-10 months before Wolfgang can trade.  My sources say that Eurogas will take the route of submitting the delinquent reports. 

2. Three interesting situation result from the stop trade and curent focus of the Exchanges:
a. Rick Wislson can NOT trade away the remaining Eurogas shares for pennies as he has been doing, will not be able to trade anything for 6-10 months after Eurogas files the delinquent audit reports and Regents still owns the 45% interest.
b. The Aurelian oil drilling is progressing well, the drilling results are good now and the target zone/depth has not even been hit yet and more wells are to come.  By the time Eurogas can trade again, the results from the first Polish well should be released, another may be started and this information may cause the "opening price" for Eurogas shares to be quite high.
c. The Eurogas problem, not filling audit and management reports, is an issue that is being addressed by the Exchange for all non-filers on the basis of the earliest date that is delinquent.  I belive that Regent has the same problem and could find themselves in the same position as Eurogas with the same options.
d. I am waiting to see how Regent management has been spending the money from selling Eurogas shares and the results of the delinquent audit reports.

Not sure what can be done in either case but the above seems to be the situation.