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ABBY – takes the next step towards a paid promotion

05 Nov ABBY – takes the next step towards a paid promotion

Abby, Inc (ABBY) has taken a big step towards kicking off the promotional program we anticipated with the original ABBY research report here.

On Halloween day, October 31,2012 an 8k filing hit for our featured company here.

ABBY has chosen Black Star Oil 231 to set the game in motion.

[color=red]BlackStar 321[/color]

Black Star 231 Corp. is a company that claims to be different from other independent oil & gas companies.

President and CEO of Black Star is Jim "Blacky" Pryor.  His son Jeff joined the company as field engineering/operations manager in 2008.

In 1995 Pryor founded Black Star 231 Corp., a Kansas Corporation, serving as company President since that time. Black Star 231 is an upstream oil and gas exploration and production company with U.S. operations primarily in the state of Kansas. Black Star 231 has embraced cutting edge technologies such as 3-D seismic, seismic attribute processing, and horizontal completion with coiled tubing. From 2004 to present, Black Star 231 has completed geological, geo-chemical, and remote sensing studies to identify prospects for first time application of 3-D seismic technology to identify prime candidates for discovery of reserves previously overlooked and neglected.

Here is a geographic tour of Black Star's oil leases.

Here are the advisory board and 'people of Black Star'.

Pryor Oil

Pryor Oil was Jim Pryor's oil company prior to starting Black Star. Pryor Oil Co., Inc. is a Missouri corporation, founded in 1984 by Jim. It was in the business of oil and gas leasing, exploration, development and operations. Besides Missouri, the company was registered and authorized to do business in Kansas and Tennessee.

The company had successful operations in both Kansas and Tennessee and had a 'gusher' incident at one of their wells where they were apparently unprepared for the oil strike.

The Blowout

While drilling for oil on the Howard farm near Lancing, Tennessee, on Friday, July 19, 2002, extraordinary underground pressure was encountered at around 2400 feet. The well suddenly began gushing light gravity crude oil at up to 750 barrels per hour. Although such a spectacular gusher used to be cause for celebration and made for great footage in movies like "Giant", it poses a serious environmental threat in real life. Oil spewed from the well under unprecedented pressure
Oil is 43° gravity light amber crude, almost natural diesel fuel.
Oil booms were deployed in the creek
Booms provided byTOGA had been strategically placed at Clear Creek over 36 hours before OSC arrived
The Company immediately implemented its emergency spill control plan and notified government agencies about the incident. Extra containment pits were dug and pump trucks were called in to haul away the oil. Booms and absorbents were deployed at nearby Clear Creek to contain the oil, utilizing emergency equipment from the Tennessee Oil & Gas Association (TOGA) which maintains specially equipped trailers for such emergencies at strategic locations in central Tennessee. Word of the gusher spread quickly among Association members, who began showing up to volunteer their help, working through the night.

Flaming oil shot more than 200 feet above the ground
On Saturday morning, July 20, 2002, a spark from a bulldozer ignited oil on the ground and flames quickly spread to the well. With the well still gushing over 200 barrels of oil per hour, together with gas, the flames were beyond the capacity of local fire crews. The Company called Boots & Coots, well fire specialists in Houston, Texas, and within two hours their crews and equipment were en route to the site.
Smoke from the conflagration was visible for miles
Bill Goodwin, of the Tennessee Oil & Gas Association, praised Pryor Oil Company's quick actionin containing the oil spill and minimizing the environmental impact.
On Sunday, July 21, 2002 the U.S. Environmental Protection Agency arrived in the person of Barbara Caprita, an EPA On Scene Coordinator (OSC). She promptly served a Notice of Federal Interest in the site. Shortly afterwards, following a meeting with the Boots & Coots supervisor (without Pryor's presence or input) she served Notice of Federal Assumption of the cleanup, declaring the Company's efforts to be "improper". Though Pryor requested an explanation of how its efforts had been improper, none was ever given. Having appropriated the well, she ordered all clean-up activities stopped (apparently, doing nothing was the proper thing to do), ordered all Pryor Oil's personnel and TOGA volunteers off the site, and drove off to check in to a motel 40 miles away. Pryor personnel and volunteers who had worked ceaselessly for more than 36 hours containing the incident were forced to stand helplessly idle while oil spewing from the well burned in excess of $15,000.00 an hour. What wasn't burned flowed onto the ground throughout the night, soaking into deep crevices that would ooze oil for months afterwards. Thus began the government sponsored Howard-White Circus Extravaganza.

 To read more about that saga and Pryor Oil's case vs the USA go here.

On to the deal with ABBY.

[color=red]Agreement #1[/color]

The Option:

On October 31, 2012 Abby, Inc. entered into an Option Agreement with Black Star 231 Corp. The option gives Abby the right to participate in a two well drilling program. The objective of the program is the drilling, testing, and completion of two wells for oil and/or gas.

BlackStar owns oil and gas leases in Richardson County, Nebraska. The well drilling program is known as the "Rose Dome Program". The option agreement grants Abby the right to acquire a 75% working interest and receive 75% of the revenues from the Rose Dome Program pursuant to the terms and conditions of the Participation Agreement.

ABBY paid BlackStar a non-refundable deposit of $15,000. The deposit grants Abby the right to participate in the Rose Dome Program and BlackStar will be required to reserve Abby's working interest in the Rose Dome Program until December 24, 1012. Abby may extend the option period until February 24, 2013 by making an additional $80,000 non-refundable deposit to BlackStar on or before December 24, 2012. Neither the $15,000 nor $80,000 payment shall be credited to Abby in order to participate in the Rose Dome Program.

The Participation Agreement:

The Participation Agreement provides for four equal units in the drilling program. Blackstar will retain one unit and the remaining three units may be purchased by Abby. The first cash call will be for $138,650 per unit. If Abby chooses to acquire its 75% working interest the first cash call will total $415,950.

The funds will be used for the costs and expenses of drilling and testing the well, and plugging and abandoning the well if it appears that the wells are not capable of production in commercial quantities. Such costs include, but are not limited to, lease acquisition, title and legal work, land damage, permits, bonding, geological work, geophysical, remote sensing, company overhead, roads, pits, gravel, surveying, casing, logging, workover rig, acid fracture, swabbing and testing, and plugging and restoration.

If both wells are completed for production there will be a second cash call of $133,500 per unit or $400,500 for Abby to retain its 75% working interest. For each well not completed for production in this drilling program the second call amount is reduced by $66,775 per unit of participation. The funds will be used for rig completion, well head assembly, tree, meter run, gas separator, tank battery, excavation, lead lines, tubing and rods, down hole equipment, pumping unit, motor, control box, electrical service, winch truck and for general working capital. Failure to meet the second cash call will result in a breach of the Participation Agreement and all funds previously paid will be retained as liquidated damages.

In addition to participation in the two well drilling program, Abby has been given the option to participate in other drilling programs. Non-refundable fees to exercise these options total $5,000 for each drilling program and payments are required in November and December 2012.

[color=red]Rose Dome Energy, SA - Coy Squyres - Turan Petroleum[/color]

It is not stated but, Rose Dome Energy, S.A. is a collaborative project Black Star has in Honduras which included Harold Witcher and Coy Squyres (who passed in March). Curious that they chose the Rose Dome Project as the name for the deal with ABBY. I can only imagine these prospects in Nebraska are worthless and just providing a way for Jim Pryor to get some money for his worthless leases and a story line for ABBY to push the stock.

Coy Squyers was involved in one of the wildest storylines I have ever seen, Turan Petroleum (TURP). Coy was appointed the Chief Exploration officer and Vice President of Exploration in 2005.  Turan was sanctioned in just about every way imaginable by the state of California. To read a tale of violence, attempted murder, racketeering, securities fraud and just about anything you can imagine go here to check in on the saga that was Turan Petroleum.

Just the fact that Coy was willing to work with these individuals and was involved in that deal speaks volumes.

I believe that Coy helped set up the deal with ABBY and they likely have named the project with them the 'Rose Dome Project' in memory of Coy.

[color=red]Agreement #2[/color]

On October 30th, 2012, Abby Inc. signed an Investor Relations contract with Price Target Media. The contract states that: Abby Inc. Will pay Price Target Media

$5000.00 per month for a period of six months. Abby Inc. will issue Price Target Media 200,000 shares of restricted stock also. Get the stock pumped up and in 6 months when that stock is free trading they can cash in for their work.

Price Target Media is affiliated with many awareness players including XtremePicks, The Bull Report, Small Cap Voice and many more. Take a look here.

[color=red]Conclusion[/color]

Currently Abby does not have sufficient funds to participate in the Rose Dome drilling program or to pay Price Target Media the $5000 a month they have signed on for, so it is time to make the stock move. They have the deals in place with BlackStar for one reason and one reason only - they need a storyline to push the stock. Oil and Gas is not the sexiest story, but the deal is in place and they are ready to give it a go. We have millions of cheap free trading shares, a story line in place and an IR firm in  place to bring a Price Target to the Media. 😉

 

3 Comments
  • alive
    ALiVE
    Posted at 08:41h, 06 November Reply

    ABBY 8k 11.6 Rogers Oil & Gas will operate as the Canadian oil and gas exploration and development arm of Abby, Inc

    Rogers currently owns a 25% working interests in 15 oil wells within the Williston Basin. The Bakken Formation, located in the Williston Basin, is spread throughout Saskatchewan, Montana, and North Dakota.

    Descriptions of the Williston Basin fields:

    Wordsworth:

    Rogers’ current 25% working interests in Wordsworth includes 4 producing wells, one satellite separator plant, and one water disposal well.

    West Wildwood:

    Rogers’ 25% working interests in West Wildwood include one producing well.

    West Queensdale

    Rogers’ 25% working interests in West Queensdale include 12 producing wells, one central oil treatment facility, and one water disposal well.

    1.01 Entry into a Material Definitive Agreement

    Rogers Oil and Gas, Inc. (“Rogers”) is a corporation organized in the province of Alberta, Canada with a principal place of business located in Calgary, Alberta. Pursuant to the Companies Creditors Arrangement Act, Canada, Rogers submitted a Plan of Arrangement and Compromise of Rogers’ Creditor Claims (the “Plan”) to the Queen’s Bench Court located in Alberta.

    The Plan contemplates Rogers recapitalizing its outstanding equity so that there will be 100 shares of common stock issued and outstanding (the “Rogers Shares”). In consideration for the acquisition of the Rogers Shares, Abby shall issue 20,233,615 shares of the Company’s Series A Preferred Shares to the Rogers debenture holders. Currently, each Series A preferred share can be exchanged for one Abby common share. However, prior to execution of a letter agreement, Abby may be required to further amend its certificate of incorporation to provide for a different exchange ratio for the holders of the Series A preferred stock. Investors are urged to review the Plan in its entirety and is attached hereto as Exhibit 10.1

    Following approval of the Plan, execution of a Letter Agreement, delivery of Rogers audited financial statements, at the closing of the transaction, the operations and management of the Rogers Property shall be the obligation of Abby. Abby shall be responsible for all costs and expenses incurred in the operation of the Rogers property.

    There can be no assurance that all conditions precedent to Closing will occur or that we will obtain final approval from the Court should Rogers be required to file amendments to the Plan.

    For a period of one year following the approval of the Plan, Abby shall provide the Monitor, Ernst & Young, with a monthly accounting of all revenues and expenses generated by the Rogers Property and deliver the accounting to the Monitor together with payment representing 50% of the net revenues. Abby shall deliver the Cash Pool to the Monitor on a monthly basis. Payments to the Monitor shall be based on cash received by Abby and not based on account receivable. Notwithstanding the foregoing, any revenues received by Abby following the twelve month anniversary date of the Agreement, which were earned during the twelvemonth period shall be delivered to the Monitor except that Abby shall have no further obligation to deliver the Cash Pool to the Monitor at any time following 18 months following approval of the Plan.

    Holders of the Series A may convert the Series A Preferred Shares into common stock at anytime following the Plan Implementation Date. At the one year anniversary, all Series A preferred shares will be converted into common shares without any further action by the holders of the Series A preferred stock.

    http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8897008

  • alive
    ALiVE
    Posted at 13:33h, 06 November Reply

    Highest vol day in ABBY’s short history 101k – 4 hrs into trading 11.6.12

  • alive
    ALiVE
    Posted at 20:28h, 06 November Reply

    ABBY loses the D 11.7.12

    16:29 11/7/2012 ABBYD Abby, Inc NEW Common Stock ABBY Abby, Inc Common Stock **

    http://otcbb.com/asp/dailylist_detail.asp?d=11/06/2012&mkt_ctg=ALL

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