Arctic Oil & Gas Corp., an oil exploration venture company that has filed for the exclusive exploitation, development, marketing and extraction rights to the oil and gas resources of the seafloor and subsurface contained within the "Arctic Claims," has begun trading on the NASD OTC under the symbol "AOAG."
On November 16, 2007, Arctic Oil & Gas Corp. (formerly known as Bulldog Financial Inc.) entered into an Asset Purchase Agreement with United Oil and Gas Consortium Management Corp., a Nevada Corporation, Strategic Nine Corporation, also a Nevada Corporation and Sterling Oil and Gas (NZ), a New Zealand Corporation, pursuant to which it acquired a thirty percent interest in certain oil and gas claims as set forth in the agreement filed with the SEC.
These claims arise from a joint filing made, on May 9, 2006, by United, Strategic and Sterling with the United Nations General Assembly and the countries of Canada, Russia, United States of America, Norway and Denmark. The filing claims, as a responsible oil and gas development agent of the "common heritage of mankind," the sole and exclusive exploitation, development, marketing and extraction rights to the oil and gas resources of the sea floor and subsurface contained in the entire Arctic Ocean Common area beyond the exclusive economic zone of the Arctic Ocean's surrounding countries (the "Arctic Claims").
Peter Sterling, president of the company, stated, "The last giant oil frontier on Earth is in the arctic. The Arctic Ocean Abyssal floor is increasingly believed to hold vast reserves of untapped oil and natural gas, which is expected to become accessible as new deep-sea drilling and hydrocarbons production technology has become available. We intend to operate as the "lead manager" tasked to create a multinational joint venture consortium of major oil companies, whose technology and managerial expertise will be vital to recovering the oil and gas from the harsh, deep waters of the Arctic in an environmentally safe manner."
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