Stockhouse Short Report: "Hot" oil play about to go cold?

American Liberty has no oil and natural gas reserves to speak, no revenue, and insufficient funds to carry out any exploration programs on the oil and gas leases In an August 16, 2011 Short Report, we told how about Lone Star Gold Inc.

Stock Forum), the U.S. Bulletin Board stock that was being touted as a potential takeover target of Canadian gold mining giant Goldcorp Inc. (TSX: T.G, Stock Forum)

Stock Forum) and how a Goldcorp spokesman put an end to that speculation during an interview with the Vancouver Sun newspaper. We also noted that the Goldcorp rebuttal didn't put the brakes on a paid promotion campaign that sent Lone Star's stock price soaring to a 52-week high of $1.40 last September, before the promotion wound down and the stock tumbled to around 40 cents this week. At about the same time, we mentioned that Lone Star's former President Allvaro Vollmers was purportedly working behind the scenes to raise money for American Liberty Petroleum Corp.

Stock Forum), which has seen its stock price jump to $1.34 from 95 cents, leaving it with a market cap of $140.3 million or 104.9 million shares outstanding. At the age of 38, Vollmers is American Liberty's sole director, President, secretary and treasurer. He also owns 10.5 million shares, or about 10.5% of the company, making him a key beneficiary of any stock market rally, along with John Rhoden, who owns 31.5 million shares, or 30% of the company. Continue reading this article

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