Speedteq-Ti, Inc. (Pink Sheets:SDTQ), is very pleased to announce that they have acquired all of the outstanding shares of "Neville Trevor and Associates" in a Share Exchange Agreement. As per the Agreement, the Company has acquired 100% of the outstanding shares of "Neville Trevor and Associates" in exchange for 25 million shares of the Company's restricted common stock.
"Neville Trevor and Associates" has developed a plan to recover oil in the Caspian Sea Region by method of absorption. Over the past five years they have worked within Azerbaijan with both government and oil authorities, testing and optimizing their plan.
In addition to the acquisition, the Board has appointed Neville Trevor as Chairman and CEO, and Terry Yakimovich as President. Both Trevor and Yakimovich researched and developed the oil absorption process. Mr. Trevor is currently setting up operations in Baku, Azerbaijan.
To better reflect the Company's new business model, the Board has agreed to change its name to Cengroup Petroleum Corporation. Earlier this year the Company had ended its agreement with Bradley Miller and Speedteq-Ti of Arizona to seek a more profitable business model for shareholders.
Also, to improve liquidity within the Company's stock, the Board has approved a two-for-one forward stock split. Both the stock split and symbol change are expected to occur within the next two weeks.
For further investment information please call Rick Neild at 1-800-488-4544.
Special Note Regarding Forward-Looking Statements
Forward-looking statements in this news release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this news release that are not strictly historical statements, including, without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the company and its strategic partners, constitute forward-looking statements. These forward-looking statements are not guarantees of the company's future performance and are subject to a number of risks and uncertainties, such as their success in acquiring funding for machinery and materials, maintaining needed relationships with governments and customers, and successfully executing their business plan, which could cause the company's actual results in the future materially to differ from the forward-looking statements.
SOURCE: Speedteq-Ti, Inc.
For Speedteq-Ti, Inc. Rick Neild, 1-800-488-4544
Copyright Business Wire 2006
Posted by Repoman75 on :
Reverse merger?
Posted by JOELGA on :
Big spread
Posted by Repoman75 on :
up 400% now.
Posted by JOELGA on :
Yeah and then back down. Trying to pick up a few at .05
Posted by joker669 on :
Look at it go!
Posted by joker669 on :
according to ameritrade bid is now .45 and ask is 1.00
Posted by Repoman75 on :
Can't be right.
Posted by The Phat Man on :
.045 and .10
Posted by joker669 on :
keep refreshing staying the same.
Posted by JOELGA on :
There is no volume right now.
Posted by joker669 on :
okay thanks phat was wondering look: Bid 1.00 B/A Size 100X100 Ask 1.50 Last Size 721900 Last 0.10 Last Trade 6/9/2006 12:43:50 PM EDT Open 0.05 Asset Type Stock Close 0.02 P/E 0.00 Change 0.08 52-wk High 0.50 Change % 400.00% 52-wk Low 0.01 High 0.10 Exchange OTC Low 0.04 Dividend Amount 0.00 Volume 359,327 Dividend Yield 0.00
Posted by vinnie1 on :
.13
Posted by The Phat Man on :
just jumped 150% on a 300 trade... a little whack... but hope you're making major $$$ bid .10 ask .15
Posted by joker669 on :
looking like this one is about to rocket!!! moves up with every buy ask at .15 now .25 after that and only 1 mm on each.
Posted by Repoman75 on :
Hmm.. might be worth a few hundred... if it's a reverse merger.
Posted by joker669 on :
Ameritrade keeps freaking me out lol now reading bid 1.00 and ask 1.50 lol. Wish that was right!!
Posted by Repoman75 on :
It's not, but it is up to .14 now.
Posted by JOELGA on :
Bid down to .o5?
Posted by joker669 on :
Crazy stock but I am loving it!
Posted by The Phat Man on :
bid now at .04 ask .10 is jumping around the chart like a pole dancer
Posted by JOELGA on :
quote:Originally posted by The Phat Man: bid now at .04 ask .10 is jumping around the chart like a pole dancer
lol
Posted by MoneyMoneyMoney on :
This was also in the PR from above:
"Also, to improve liquidity within the Company's stock, the Board has approved a two-for-one forward stock split. Both the stock split and symbol change are expected to occur within the next two weeks."
Posted by joker669 on :
Nice catch Money didn't see that!
Posted by Repoman75 on :
Could be the next SPEA...
Posted by joker669 on :
think it will get that high? What is the float on this anyhow?
Posted by JOELGA on :
The B/A needs to tighten on this
Posted by Repoman75 on :
it will tighten after the name change... that's the key here.
Posted by JOELGA on :
Volume picking up on this
Posted by MoneyMoneyMoney on :
I got mine to play with. We'll see what happens.
Posted by Johnwayne on :
No way this can run with the spread. Has it been this wide all day? Looks like a few buys at .119
Posted by Repoman75 on :
Duke, won't run until AFTER the name change.... again, getting in early is the key. I'm radaring.
Posted by Johnwayne on :
Makes sense. Just get in before the forward split. Scottrade usually makes me a bag holder on forward splits.
Posted by JOELGA on :
The bid finally came up!
Posted by JOELGA on :
Is anyone in this for the next couple of weeks?
Posted by joker669 on :
I will be. I think this one could go nicely
Posted by joker669 on :
With only 2 mm's on this it could make a run fast and hard with some attention.
Posted by JOELGA on :
quote:Originally posted by joker669: With only 2 mm's on this it could make a run fast and hard with some attention.
The volume was huge for this stock on Friday, and like you said, it moves easily. Should see a nice steady run-up over the next two weeks. Probably will see at least one pr with more info on the merger and F/S early next week, so hopefully this will pop up on everyone's radar. Got 10K shares.....Roll the dice
Posted by Johnwayne on :
This will get interesting. Shakerzzz is radaring it.
Posted by Johnwayne on :
Some on IHUB say it's going to.50
Posted by MoneyMoneyMoney on :
quote:Originally posted by JOELGA: Is anyone in this for the next couple of weeks?
I'm hanging and interested to see whats to happen.
Here comes the storms. First Hurricane Alberto??
Posted by JOELGA on :
Yes, bienvenidos Alberto. First of many to come this year. Hopefully they are a bit more gentle than the last!
Im looking forward to SDTQ next week. Lots of possibilities with this.
Posted by joker669 on :
I really like this stock I think it really has potential especially with the merger and split etc. When is the split effective? I believe some investors will see what happened with this over the weekend and get in monday morning. With the attention I believe this will close out next week strong probably around .25 or so. That's just IMO but seeing the way it jumps easily and with only 2 MM's a lot of potential!!
Posted by JOELGA on :
quote:Originally posted by joker669: I really like this stock I think it really has potential especially with the merger and split etc. When is the split effective? I believe some investors will see what happened with this over the weekend and get in monday morning. With the attention I believe this will close out next week strong probably around .25 or so. That's just IMO but seeing the way it jumps easily and with only 2 MM's a lot of potential!!
Also, to improve liquidity within the Company's stock, the Board has approved a two-for-one forward stock split. Both the stock split and symbol change are expected to occur within the next two weeks.
We should see some pr's out this week with more specific detail on the split.
Posted by ajman on :
anyone know the current presplit stock structure for this company
Posted by JOELGA on :
quote:Originally posted by ajman: anyone know the current presplit stock structure for this company
Outstanding Shares: 24,000,000 as of 2004-11-08
Estimated Market Cap: Not Available Authorized Shares: 200,000,000 as of 2004-11-08
Posted by MoneyMoneyMoney on :
From the Jun 9th PR: "As per the Agreement, the Company has acquired 100% of the outstanding shares of "Neville Trevor and Associates" in exchange for 25 million shares of the Company's restricted common stock."
So 25mill + _____ I'll be looking and post if I find it.
Long ago but closest I have so far. Outstanding Shares: 24,000,000 as of 2004-11-08
Posted by JOELGA on :
Well they are going to the right place for oil, that's for sure!
"Today, Baku is more well-known as an oil boom town. Azerbaijan is a major producer of oil. At the beginning of the 20th century, it produced more than 50% of the world's oil. Alfred Nobel made his fortunes here, and many oil barons built great palaces in Baku. Its fortunes declined after the Bolshevik Revolution, but things have since changed after the collapse of the USSR. Independent Azerbaijan was overwhelmed by an invasion of international oil companies and suitors of all kinds. Lucrative contracts were signed and Baku turned into a party town with expats and oilmen. The fever has since lessened a little (after fluctuations of oil prices and disappointing digs at some places) but Baku has changed beyond recognition. Restaurants, bars, a modern airport, hotels, ATMs and all the conveniences international businessmen and expats desire, plus the appearance of a large pool of English-speakers. At least, there seems to be more English speakers than in Moscow."
Posted by ajman on :
Would like to find a more current share structure. Maybe we can get the info from the TA on Monday.
Posted by ajman on :
We know there is at least 49.2 OS now. At least 25M of that is known to be restricted, probably more.
Posted by JOELGA on :
Ask at .20!
Posted by joker669 on :
Have a good feeling about this one, think it is going to run hard!!!
Posted by JOELGA on :
quote:Originally posted by joker669: Have a good feeling about this one, think it is going to run hard!!!
Same here joker. Did you get in this on Friday?
Posted by joker669 on :
yeah at .05
Posted by joker669 on :
here we go!!!!!
Posted by JOELGA on :
quote:Originally posted by joker669: yeah at .05
Nice! I have 10K shares to fool around with. .50 would be really nice. Do you have LII's you can post?
Posted by JOELGA on :
Any plans of trying to flip this joker?
Posted by joker669 on :
Thinking about it! the l2's are 3 mm at .20 and 1 at .21 on ask. Bid is 1 at .09 1 at .07 and 1 at .06.
Posted by JOELGA on :
.15 X .20 now
Posted by Egg Inspector on :
do you believe this! $.10 right off the bat...I never had a chance
Posted by Egg Inspector on :
it's +$.10 this morning, Last .20
Posted by joker669 on :
Just hit the dip, better try and get in now!!
Posted by Egg Inspector on :
+ $.05, last .15
Posted by Egg Inspector on :
not taking my order 1000 * .15
Posted by joker669 on :
cause the ask back up to .20
Posted by Egg Inspector on :
OK, I'm in...not much. It's all I had to sell 1000sh * .15
Posted by Egg Inspector on :
the dip last .13
Posted by joker669 on :
bid moved up to .11 should get some push now.
Posted by Egg Inspector on :
what a day for my Server to be out!
Posted by Egg Inspector on :
is there anyone here. Did I walk in to a private party? seems like when I showed, the posts ended. :(
Posted by joker669 on :
I'm still here, just waiting for the volume to come in.
Posted by JOELGA on :
I'm here. Just not a lot to discuss on this one now. Watching and waiting!
Posted by Egg Inspector on :
Oky doke...my server is down, I can't get L2's steamer, anything!....
Egg says:
............bad day for this.........
Posted by JOELGA on :
quote:Originally posted by Egg Inspector: Oky doke...my server is down, I can't get L2's steamer, anything!....
Egg says:
............bad day for this.........
Uhhgg! I hate when that happens. Especially on a Monday
Posted by JOELGA on :
B/A is closing in. .13 X .15 now
Posted by joker669 on :
B/A 16 x 18 looks to be ready to move again!!
Posted by joker669 on :
nvm back to 13x18
Posted by JOELGA on :
Yeah this thing is all over the boards, but one thing is for sure...it's movin on up!
Posted by joker669 on :
Ask is up to .22
Posted by Egg Inspector on :
ANYTHING?
Posted by JOELGA on :
From IHUB: Tuesday, June 06, 2006 Azerbaijan oil sales to yield $140bln at $50 per barrel BAKU, June 6 (RIA Novosti) - Azerbaijan will receive $140 billion from oil sales in the next few years if the price of oil averages $50 per barrel, the president of the oil-rich Caucasus republic said Tuesday. "According to international expert estimates, Azerbaijan will receive $140 billion profits in coming years at oil prices of $50 per barrel," Ilham Aliyev told an international oil exhibition in Baku. Aliyev said the financial resources would be used to boost Azerbaijan's development, and that the country's capabilities as a hydrocarbon exporter were rising. "With the commissioning of the Baku-Tbilisi-Ceyhan oil pipeline and the launch of the Baku-Tbilisi-Erzerum gas pipeline, Azerbaijan will turn into a significant oil and gas exporter," Aliyev said.
Watch this I think it's gonna go boom! 2 mm's at .20 and 1 at .21 then no more mm's. Will expect they will be raising soon.
Posted by JOELGA on :
Yeah, need a little move volume and interest, and this thing is gone with the wind. A timely PR would be nice.
Posted by joker669 on :
I believe this is the dip before the run!
Posted by JOELGA on :
Some scared folks are getting out.
Posted by Egg Inspector on :
am not scared............... JUST BEWILDERED!
Posted by JOELGA on :
From IHUB: Just spoke with Rick. He sounded very upbeat about things, but did not disclose much more than what was in the press release. He said to expect something within the next week on the symbol change and forward split. I asked about the share structure, currently there are 24.5M shares out with only 6M in the float now, post forward split there will be 99M O/S and about 12M in the float. This could be a major mover IMO with such a tiny float.
Posted by joker669 on :
Has anyone seen the ask on this it's at 1.75
Posted by joker669 on :
![[Smile]](smile.gif)