IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED
IN THE MATTER OF
AL-TAR ENERGY CORP., ALBERTA ENERGY CORP.,
ERIC O’BRIEN, BILL DANIELS, BILL JAKES, JOHN ANDREWS,
JULIAN SYLVESTER, MICHAEL N. WHALE, JAMES S. LUSHINGTON,
IAN W. SMALL, TIM BURTON, and JIM HENNESY
Section 127(1) & 127(5)
WHEREAS itappearsto the Ontario Securities Commission that:
1. Al-tar Energy Corp. (“Al-tar”) is an Ontario corporation with a registered office in Toronto;
2. Alberta Energy Corp. (“Alberta EC”) is an Ontario corporation with a registered office in Toronto;
3. Eric O’Brien is the sole director of Al-tar;
4. Julian Sylvester is the sole director of Alberta EC;
5. Bill Daniels, Bill Jakes, John Andrews are or were employed by Al-tar in the role of salespersons;
6. In a recent Al-tar news release, Tim Burton was listed as Manager, Corporate Relations and Jim Hennesy was Manager, Media Relations;
7. The Alberta EC website listed J.M. Sylvester, Michael N. Whale, James S. Lushington, and Ian W. Small as directors of Alberta EC;
8. Neither Al-tar nor Alberta EC nor any of the named individuals are registered with the Commission to trade in securities;
9. Securities of Al-tar have been sold to members of the public by officers, directors, employees and/or agents of Al-tar in reliance upon a prospectus and registration exemption in National Instrument 45-106;
10. Securities of Alberta EC have been offered for sale to the public by officers, directors, employees and/or agents of Alberta EC;
11. Staff of the Commission (“Staff”) are conducting an investigation into the trading of Al-tar securities and Alberta EC securities, and based on the information collected by Staff to date, it appears that Al-tar, Alberta EC and the named individuals hold themselves out as engaging in the business of trading securities in Ontario without being registered pursuant to the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”);
12. Staff investigation has revealed that the named individuals have made representations about the future listing and future value of the shares of Al-tar in order to effect sales in those shares contrary to s. 38 of the Act;
13. No prospectus receipt has been issued for the Al-tar securities or the Alberta EC securities contrary to section 53 of the Act.
14. No exemption from the registration and prospectus requirements under the Act applies to the shares of Al-tar or Alberta EC.
15. Staff investigation has revealed that false or misleading information was contained in an Al-tar press release contrary to s.126.1 of the Act.
AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in s. 127(5) of the Act;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
AND WHEREAS by Commission order made April 4, 2007 pursuant to section 3.5(3) of the Act, any one of W. David Wilson, James E.A. Turner, Lawrence E. Ritchie, Robert L. Shirriff, Harold P. Hands, Paul K. Bates and David L. Knight, acting alone, is authorized to make orders under section 127 of the Act;
IT IS ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading by Al-tar and Alberta EC and their officers, directors, employees and/or agents in securities of Al-tar and Alberta EC shall cease;
IT IS FURTHER ORDERED that pursuant to clause 2 of subsection 127(1) of the Act that the Respondents cease trading in all securities;
IT IS FURTHER ORDERED that pursuant to subsection 127(6) of the Act this order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by order of the Commission.
Dated at Toronto this 3 rd day of July, 2007
“Lawrence E. Ritchie”
Lawrence E. Ritchie