PA Securities Commission Halts Unregistered Activity by McKelvey Gas Co.
 
HARRISBURG, Pa., Sept. 23 /PRNewswire/ -- In its first enforcement action marking its increased scrutiny of investment activities involving natural gas drilling in the Marcellus Shale formation, the Pennsylvania Securities Commission (PSC) today announced it has ordered a halt to the offer and sale of unregistered securities in Pennsylvania by a Gibsonia (Allegheny County) firm.

The Commission issued a Summary Order to Cease and Desist against McKelvey Gas Co. (MGC) as a company and Albert T. McKelvey as an individual, both with an address in Gibsonia. MGC was offering for sale investments in a Marcellus Shale gas well drilling project. McKelvey was listed as the owner of MGC. The offer and assertions made to prospects by McKelvey represent violations of Pennsylvania securities law. ...

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