Market report

Published Saturday November 28th, 2009

Securities commission issues warning

The New Brunswick Securities Commission is warning investors to be cautious about what it believes is a Texas-based oil and gas investment scheme. The provincial watchdog says authorities in Saskatchewan and Quebec have recently issued cease-trade orders for Oil International LLC, Trinidad Oil and Gas Corp., and Black Gold International Ltd. Oil International, purported to be based in Panama City, is allegedly contacting Canadian residents by telephone and email, trying to raise money for Black Gold International, a company registered in Belize with an office in Nassau. Investors were allegedly told to wire investment funds to a Texas account.

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