For me it's pretty simple actually, it's a case of just following the money, if you think Clay Riddell knows a thing or two about the oil patch ask yourself why would he be getting involved in the previous 2 CEX PP's in a big way unless he felt there was a potential here to make some decent cash...hsb
Clay Riddell is Chairman of the Board and Chief Executive Officer of Paramount Resources Ltd(POU.to (Last price $34.75 TSX)., where he has been an executive officer since 1978. Until June 2002 he was also President of Paramount. He is a director and Chief Executive Officer of MGM Energy Corp., Chairman of Perpetual Energy Inc., and a director of Alaris Royalty Corp. and Tourmaline Oil Corp.
CEX.v Contact Exploration Inc
Symbol C : CEX
Shares Issued 194,460,910
Close 2012-07-18 C$ 0.12
Recent Sedar Documents
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Contact investor acquires 20 million more shares
2012-07-18 19:29 ET - News Release
Mr. Clayton Riddell of Treherne reports
TREHERNE RESOURCES LTD.: ACQUISITION OF COMMON SHARES OF CONTACT EXPLORATION INC.
Treherne Resources Ltd., a private company controlled by Clayton H. Riddell, on July 18, 2012, acquired ownership and control of 20 million common shares of Contact Exploration Inc., issued on a flow-through basis, representing approximately 10.28 per cent of Contact's outstanding common shares, through a non-brokered private placement. As of the date hereof, Treherne owns or controls a total of 29 million common shares of Contact representing approximately 13.52 per cent of Contact's outstanding common shares after giving effect to the offering.
The 20 million common shares of Contact were acquired by Treherne pursuant to the terms of the offering. Pursuant to the offering, Contact issued 20 million flow-through common shares at a price of 15 cents per common share. The flow-through common shares are subject to a four-month hold period from the date of their issuance in accordance with applicable Canadian securities legislation. The total consideration paid by Treherne for the common shares acquired was $3-million.
Treherne acquired the common shares of Contact for investment purposes. The acquisition pursuant to the offering was made in reliance on Section 2.3 of NI 45-106. Mr. Riddell or entities controlled by him may increase or decrease ownership of, or control over, securities of Contact depending on market conditions or any other relevant factor.
For further information, or to obtain a copy of the early warning report filed in connection with this matter, please contact Mr. Riddell.
CEX Insider Activity
As of 11:59pm ET January 10th, 2013
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Price
Dec 24/12 Dec 21/12 Hadley, Scott Direct Ownership Common Shares 11 - Acquisition carried out privately 65,000 $0.240
Dec 24/12 Dec 21/12 Hadley, Mark Gregory Direct Ownership Common Shares 11 - Acquisition carried out privately 50,000 $0.240
Dec 24/12 Dec 21/12 Harding, Steven Craig Direct Ownership Common Shares 11 - Acquisition carried out privately 145,000 $0.240
Dec 24/12 Dec 21/12 Allford, Richard Bruce Direct Ownership Common Shares 11 - Acquisition carried out privately 200,000 $0.240
Dec 24/12 Dec 21/12 Thomson, Ian Robert Direct Ownership Common Shares 11 - Acquisition carried out privately 50,000 $0.240
Dec 21/12 Dec 21/12 Bowie, Ken Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 40,000 $0.240
Dec 21/12 Dec 21/12 Riddell, Clayton H. Indirect Ownership Common Shares 16 - Acquisition under a prospectus exemption 4,166,000 $0.240
Jul 20/12 Jul 18/12 Riddell, Clayton H. Indirect Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
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TA - Cup and Handle taking place? , if the neckline at about .27 ish the target price projects to 0.27+0.19 =0.46, chart is trending up and to the right, accumulation is increasing and the ADX is incredibly stong on the weekly as seen here...the same batch of idiots that were jumping in front of one another at .14-.16 c to sell appear to be back at it at current levels , once they are absorbed the trend will continue imho... http://stockcharts.com/h-sc/ui?s=CEX.V&p=W&yr=2&mn=0&dy=0&id=p82558597123&a=2786