Fox Petroleum, Inc. (FXPT.OB)

Looks like a pump and dump to me. Subject of many junk emails. Even if you tried to analyze them as a legitimate company, just look at their income statement. They've yet to establish any operations that would yield revenue. Now they're desperately trying to raise short term income from the Spears Gas Unit 2 so they can stop completely financing their oil efforts with deals like the EuroEnergy one. Even if there is oil in their new Alaskan land, are they going to have the capital to extract it? They claim their North Sea license could hold 213 million barrels of oil, but you have to read past the front page of their website to find that they only have a 33% stake in that holding. Everything about this company seems shady.

I don’t know how I got on the mailing list, but I got a copy of the Natural Contrarian in the mail today touting this stock. What was best of all was the disclaimer:

“This stock profile should be viewed as a paid advertisement.” Oh, I thought they really wanted to help me out of the kindness of their heart. “In order to enhance public awareness of Fox Petroleum and its securities through the distribution of this report, Montrey International Ventures paid the publisher, Nat-Con Publishing, the sum of $900,000.” Ummm, what is Montrey International Ventures? Tried googling them up and nothing. The only references I found were to this newsletter, and thanks to google, probably now this post.

Also took a look at the Form 4 (Insider buying and selling) and on Sept. 5th they gave a grant (here ya go) of 20 million shares to Anthony Richard Bullock because “The shares were issued to Mr. Bullock pursuant to an agreement between Fox Petroleum Inc. and Fox Petroleum L.L.C. (a company controlled by Mr. Bullock). Mr. Bullock received the shares in return for issuing oil and gas leases to Fox Petroleum Inc.” By the way there were about 52 million shares outstanding before this. I know they are going oil and gas exploration in the ocean, but does this smell fishy?

I’ve seen the pump, now it’s time to dump. This fox is going down dooby do down down.