royal petrol again

[no51eys]

ok now i seem to be a bit closer to understanding the royal petroleum saga that i have got myself intoit seems that the stock is otc and is difficult to sell if anyone knows how to sell it i would be grateful to know the company have given me a brokers name but i dont know if i can trust them they cant give me a price to sell them and they appear to be based in porta rica knobel lynch never answer the phone and suprise suprise the e mail is disabled

Iain

 

[anley]

Forget about 'Knoble Lynch' they've long gone.

My advice is simple, if you can't sell the shares through a fully regulated broker located in a cicilised country like the UK, Germany, US etc then you'll be scammed again.

Good luck anyway.

 

[no51eys]

OK so tell me the german broker has no problem selling he rang me and said he will do the trade even give me the price and said they would sell for 4.95 one problem they shares must be electronic so how can i turn cetificated stock to electronic when no-one will lodge the dam stock

 

[anley]

No51, I don't know how you can convert the shares but I do smell a potential rat in that some 'company' will offer to do it for you for an advanced fee. Then 95% chance that money will also disappear.

Cut your losses on this one is my advice but if you don't want to then make sure the shares you actually bought are real and not fakes. I don't know how to do this though because it's a very murky world if you deal in these types of companies.

 

[no51eys]

i just wish some one could give me a decent bit of advise or even a brokers name that will deal with this dam stock it cant be that hard to sell the shares as someone traded them recently if you look at the last time they were traded on frankfurt the company is a bonifide company with a decent prospectus they trade on nyse and everything seems fine there is also talk of a take over bid from a company called biogenetics they have had joint ventures with so WHY CANT I SELL

 

[Slorm]

I guess you could try T D Waterhouse as they will convert share certificates into an electronic nominee account (for a fee of course). Whether they will accept your certificates as valid for that service is another matter.

Might be worth a try, their website is http://www.tdwaterhouse.co.uk/ Probably best to phone them and see what they say but tbh I would get your hopes up.

 

[no51eys]

This is an email that i nhave sent to a number of brokers


Hi
I wonder if you can help me i have an account with td waterhouse and have tried to lodge some shares with them they are in a canadian oil company called royal petroleum corp they are quoted on frankfurt (R7P)
the shares seem to be OTC stock and waterhouse cant lodge them in my account i have been told by several people to try yourselves to see if you could help me sell these shares people are trading them on frankfurt althought there does not seem to be a lot of movement the problem is possibly because the stock is certificated stock and not electronic but i cant find anyone to make this stock electronic please help me

 

[AliceAkira]

I bought shares in Royal Petroleum years ago through knobel-lynch like many others. A year ago or so I was contacted again by them saying that they wanted to sell my shares and invest the profit in another upcoming company. I refused as because of the exchange rate dollar/pound I was not making any profit unlike they claimed. I since tried to look up the value of the shares and found them to be worthless and that there was something dodgy about the way they had issued new shares for the old ones.
Having thought no more about I was recently contacted by someone claiming to be from Cartright Financial who were taking over Royal Petroleum and wanted to buy my shares. They said they would call back and wanted details of the shares on the certificates to verify them.
I went to Royal Petro website and found nothing about an emerging takover. (There last news post is from 2008). I also cannot find Cartright Financial(Or rather I can just not the right one!). Does anyone know anymore about this? Is this just another scam or are Royal Petro being taken over? I am also interested in any news about how to sell said shares!

 

[anley]

Alice

You're being setup again. The people calling you are the same scammers that stole your original money. They'll be working an advanced fee fraud on you which means they'll promise a big profit on your RP shares BUT first you'll have to pay in say £5,000 into escrow to release the shares. Pay that money in and it qill be stolen from you, 100% guaranteed.

Basically tell the people that are calling you where to go because they're trying to steal your money.