Ashanti Gold Corp. GULSF

In early 2013, I phoned 3 Star Trucking in Wapella, Sask and

[TysonD]

gave them the four lease locations of Gulf Shores oil wells. They said, "We have been hauling oilwell effluent from these locations for some time." But they had never heard of Gulf Shores Resources. That was a bit of a head scratcher for a while until I realized that GUL only owns 47.5%. They are selling the oil in the name of the majority owner. I have never seen any production numbers except that when they finished drilling each well Mike Turko would put out a NR that stated the well only produced 25 bpd. Imagine! 25 barrels of free flowing oil from an unfrac'd oilwell. That is better than old Jed Clampett's discovery. The latest oil & gas disclosure states "the company has no reserves at this time" and "have no material reserves data" Of course not! They haven't completed the wells with frac and stimulation and a proper production test. The well pressures are starting to drop off too. Thus the lower operating costs (trucking) because less oil is flowing. After the underhanded 30:1 consolidation and the fact that the stock hardly trades, I think these guys are going to apply to take this company private. IMHO