Worldwide Internet Inc., purchases 40% interest for $5million for Marcellus Shale property near Erie,Pa.

Does anyone know the location and details about the Marcellus shale property purchased near Erie, Pa

purchased by Worldwide Internet,Inc., for $5million near Erie, Pa..

http://www.power-eng.com/marketwired/2014/01/17/worldwide-completes...

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015334grltd9mPermalink Reply by 015334grltd9m on January 20, 2014 at 12:38pm

George,

I only know what you referenced, but I will tell you, this is most likely what we will see in the very near future, businesses unrelated to energy, diversifiying into investing in Minerals, more will come, just watch.

Permalink Reply by Jim Litwinowicz on January 20, 2014 at 3:12pm

There is little if any Marcellus Shale in Erie Co.  Either this company just got ripped off for $5M or the writer of the article knows of what he writes.  I am guessing they bought O & G rights which in Erie is almost all Utica or TBR.

Permalink Reply by Kangoo on January 20, 2014 at 4:53pm

It's actually not clear who is ripping off whom in this deal.

The Transaction was paid in shares and no cash was involved. The article is just a press release by World Wide Internet Inc and this company is a penny stock that as of today had a share price of $0.00440, giving the whole company a market value of $2.7 Million.

http://www.otcmarkets.com/stock/WNTR/company-info

As per their Q3 quarterly Report they had 0 employees and their address was a virtual office that they rented for $164 per year.

To sum it all up: A high risk company buys mineral rights of very questionable value (for both Marcellus and Utica) and pays in shares that might be worth $0 (since in the digital age one cannot even make a fire with penny stock shares).

 

 

 

 

 

Permalink Reply by Samuel J. Orr on January 21, 2014 at 3:02am

Kangoo: If it looks like a scam and smells like a scam and walks like a scam, it I most likely a scam. Thanks for your good work. Hopefully others will be alerted and more information can be learned about this company.

Permalink Reply by Joseph-Ohio on January 21, 2014 at 3:52am

How many acres I wonder first ?

Permalink Reply by george m vietze on January 21, 2014 at 4:15am

I too am curious where near Erie, Pa. is their a large "Marcellus" area.  Utica or Upper Devonian seemed more likely.  The Erie Times did not mention this transaction (that I could locate) and a few telephone calls

so far have not confirmed the transaction.  Frank Kristan is listed as CEO of Worldwide Internet Inc.,

and an email of    frankkristan@worldwideinternetinc.com  was listed in the press release and a telephone number of 206-984-3470.

 

Maybe someone can find more info....

Permalink Reply by george m vietze on January 21, 2014 at 4:36am

I sent an email to Frank Kristan of Worldwide Internet,Inc.

Could you confirm the location of this property near Erie, Pa.  I posted your press release on www.marcellusshale.com and a number of people have posted negative information.  It would be helpful
if verification of this transaction would shed more information.  The Erie newspaper did not print the information, at least at my reading.
Thank you for your help in this matter.
Permalink Reply by george m vietze on January 21, 2014 at 5:18am

Frank Kristan replied to my email:

George,
I appreciate the interest in the company.
The property is approximately 200 acres and the further development is subject to the terms and conditions of a confidentiality agreement.
I can confirm that there is an independent appraisal of $13m for the property.
When the company files its annual report on or before March 31, 2014, additional information will be available to all investors to evaluate.
Sincerely,
Frank Kristan
President
Worldwide Internet Inc
Phone: (757) 345-3375
Fax:    (206) 984-3470
Cell:    (757) 903-5901
-------- Original Message -------- Subject: Press release of $5million deal for property near Erie, Pa. From: Gmvietze@aol.com Date: Tue, January 21, 2014 10:32 am To: frankkristan@worldwideinternetinc.com Cc: gmvietze@aol.com
Could you confirm the location of this property near Erie, Pa.  I posted your press release on www.marcellusshale.com and a number of people have posted negative information.  It would be helpful
if verification of this transaction would shed more information.  The Erie newspaper did not print the information, at least at my reading.
Thank you for your help in this matter.


Permalink Reply by george m vietze on January 21, 2014 at 6:07am

I looked at their web page and was confused that it listed a street address but

not the city?  I have no interest, do not own this stock, and only have posted what I read on the internet.  Frank Kristan made the following statement, but I have questions and will wait and see what transpires.  Penny stock sell for pennies and you are own your own to evaluate

my concern is that my personal reputation is not connected with anyone else.

"We are excited to further develop our energy business with our potential new partners in the exploration of the Marcellus Shale. As natural gas prices increase, we see an opportunity that will increase shareholder value and provide for distributions to shareholders."      comment by Frank Kristan

 not confirmed or blessed or verified by me (George Vietze).

Permalink Reply by Samuel J. Orr on January 21, 2014 at 9:07am

George: I am glad that you posted a disclaimer. I can find little if anything about this company. The little that I have found is not reassuring. The stock price has tanked. The 206 area code is in the state of Washington. This company emits a distinctly unpleasant odor that gets stronger the more one investigates.

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