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.
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 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.
|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.
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.
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.
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. 😉