Canadian Stocks/Doreal Energy

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Question
Hi,

I have about 30,000 shares of Doreal Energy purchased in 2000. I saw it was delisted in 2002. DO you know the reason for the delist? And is there any thing I can do with it now?

Answer
Waiyin, from the information I have available:

Doreal was cease-traded and delisted in 2002 for failure to file their financial statements. But, the Company was in big trouble before that. Back in June 2002, their last communication with shareholders was:

"Doreal Energy Corporation announces that after careful review of its various assets and outstanding liabilities, its board of directors has regrettably concluded that Doreal has no realistic prospect of satisfying all of its obligations. Accordingly, Doreal will be seeking advice as to the available alternatives to address this situation."

The cease-trade orders from 2002 remain in effect. The company was so heavily in debt, they just stopped filing and disappeared. Therefore, the shares have no current value.

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