Proceedings

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IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED


IN THE MATTER OF

GLOBAL ENERGY GROUP, LTD. AND NEW GOLD LIMITED
PARTNERSHIPS

ORDER
(Section 127)


WHEREAS on July 10, 2008 the Ontario Securities Commission (the "Commission") issued a Temporary Order pursuant to subsections 127(1) and (5) of the Securities Act R.S.O. 1990, c. S.5, as amended (the “Act”) that all trading by Global Energy Group Ltd. (“Global Energy”) and the New Gold Limited Partnerships (the “New Gold Partnerships”) and their officers, directors, employees and/or agents in securities of the New Gold Partnerships shall cease (the "Temporary Order");

AND WHEREAS on July 10, 2008 the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;

AND WHEREAS on July 15, 2008 the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, such hearing to be held on July 23, 2008 at 11:00 a.m.;

AND WHEREAS the Notice of Hearing sets out that the Hearing is to consider, inter alia, whether in the opinion of the Commission it is in the public interest, pursuant to subsections 127(7) and (8) of the Act, to extend the Temporary Order until such time as considered necessary by the Commission;

AND WHEREAS a hearing was held on July 23, 2008 at 11:00 a.m. where Staff and counsel for Global Energy appeared but no counsel appeared for the New Gold Partnerships;

AND WHEREAS on July 23, 2008, the Temporary Order was continued until August 6, 2008 on consent of Staff and counsel for Global Energy;

AND WHEREAS on July 23, 2008, the hearing in this matter was adjourned until August 5, 2008 at 3:00 p.m. on consent of Staff and counsel for Global Energy;

AND WHEREAS a hearing was held on August 5, 2008 commencing at 3:00 p.m. to consider whether to extend the Temporary Order;

AND WHEREAS on August 5, 2008, Staff and counsel for Global Energy appeared but no counsel appeared for the New Gold Partnerships;

AND WHEREAS counsel for Global Energy did not oppose Staff’s request for the extension of the Temporary Order;

AND WHEREAS the Panel of the Commission considered the evidence and submissions made to it and is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED pursuant to subsection 127(8) of the Act that the Temporary Order is extended to December 4, 2008; and

IT IS FURTHER ORDERED that the hearing in this matter is adjourned to December 3, 2008, at 10:00 a.m.

      DATED at Toronto this 5th day of August, 2008


" James E. A. Turner "
James E. A. Turner
" Paul K. Bates "
Paul K. Bates