| THE SECURITIES ACT | ) |
Order No. 5845 |
) |
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| Section 148 and 19(5) | ) |
January 14, 2009 |
GLOBAL PETROLEUM STRATEGIES, LLC,
PETROLEUM UNLIMITED, LLC, AURORA ESCROW SERVICES, LLC,
ROGER A. KIMMEL, JR., and ROSEMARY SALVEGGI
WHEREAS:
(A) On July 29, 2008, the Saskatchewan Financial Services Commission, Securities Division (“SFSC”) issued an Extending Order (“SFSC Order”) against various respondents including Global Petroleum Strategies, LLC (“GLOBAL PETROLEUM”), Petroleum Unlimited, LLC (“PETROLEUM UNLIMITED”), Aurora Escrow Services, LLC (“AURORA ESCROW”), and Roger A. Kimmel, Jr. (“KIMMEL”);
(B) On July 17, 2008 the Alberta Securities Commission issued an Interim Cease Trade Order: Extension dated July 17, 2008 against various respondents including PETROLEUM UNLIMITED and Rosemary Salveggi (“SALVEGGI”);
(C) The Manitoba Securities Commission (“MSC”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider whether or not it was in the public interest pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) to grant orders with respect to GLOBAL PETROLEUM, PETROLEUM UNLIMITED, AURORA ESCROW, KIMMEL, and/or SALVEGGI;
(D) On January 14, 2009, the hearing commenced before a panel of the MSC;
(E) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the MSC including staff’s intentions to discontinue the proceedings against SALVEGGI, no one appearing for the respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, the MSC is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 148 of the Act, all trading in securities by GLOBAL PETROLEUM, PETROLEUM UNLIMITED, AURORA ESCROW, and KIMMEL cease forthwith and continue until the MSC is provided with satisfactory information to enable it to make a further order.
2. THAT, pursuant to subsection 19(5) of the Act:
(a) subsection 19(1) of the Act does not, with respect to such of the trades referred to in that subsection, apply to GLOBAL PETROLEUM, PETROLEUM UNLIMITED, AURORA ESCROW, and KIMMEL; and
(b) subsection 19(2) of the Act does not, with respect to such securities referred to in that subsection, apply to GLOBAL PETROLEUM, PETROLEUM UNLIMITED, AURORA ESCROW, and KIMMEL,
commencing forthwith and continuing thereafter until the MSC is provided with satisfactory information to enable it to make a further order.
BY ORDER OF THE COMMISSION
Director, Legal and Enforcement