Articles by Asensio.com

Solv-Ex’s management claims that its Bitumount and Fort Hills oil sands leases contain valuable reserves. Solv-Ex has not stated the estimated dollar value of its reserves but has made statements concerning so-called “reserves” per share. […]

Last week Manuel P. Asensio, President of Asensio & Company, Inc., gave his testimony as a non-party witness in Solv-Ex Corporation’s civil lawsuit against two highly regarded institutional investment management companies. These two prominent investors […]

On May 14th Solv-Ex Corporation filed its Form 10Q for the third quarter ended March 31, 1997 with the U.S. Securities and Exchange Commission (“SEC”). In the Form 10Q Solv-Ex admits its plant has only […]

On May 14th Solv-Ex Corporation filed its Form 10Q for the third quarter ended March 31, 1997 with the U.S. Securities and Exchange Commission (“SEC”). Solv-Ex did not announce the SEC filing to its shareholders. […]

Three officials from the U.S. Securities and Exchange Commission’s Division of Enforcement (“SEC”) and two from the British Serious Fraud Office conducted an on-site investigation of Solv-Ex Corporation’s plant last week. The interviews and plant […]

Asensio & Company, Inc. believes that Solv-Ex Corporation’s lawsuit against certain short sellers is entirely without merit. We believe that the sole purpose of this lawsuit is to distort the facts. We believe that it […]

On April 30, 1997 Solv-Ex issued a press release stating that it “received further approval from the Alberta Energy and Utilities Board.” This statement is completely and totally false and untrue. A new shareholder lawsuit […]

New documents and photographs have been entered in a lawsuit dated April 25, 1997 against Solv-Ex Corporation, John S. Rendall and W. Jack Butler. According to the new lawsuit Solv-Ex’s plant is not even close […]

Solv-Ex Corporation has an approval from Alberta Environmental Protection (“AEP”) # 17233-00-04 that is not applicable to its existing so-called “plant”. In its application for this approval, Solv-Ex described a Utility Supply Facility (water, steam […]

Larry Brocke, Director of the Land Reclamation Division of the Alberta Department of Environmental Affairs (“ADEA”) has confirmed that the ADEA has not granted Solv-Ex any permit or authorization to commence production. ADEA’s regulatory approval […]

Solv-Ex Corporation’s managers are telling reporters that its critics claim it can’t produce oil from tar sands. Solv-Ex is claiming that it will “prove” it can produce bitumen. In fact, no one has ever said […]

Solv-Ex Corporation (“Solv-Ex”) has defaulted on its $33 million Loan Agreement. The default makes Solv-Ex liable for immediate repayment of the full $33 million loan plus interest. Solv-Ex has no capacity to refinance or repay […]

VIA FAX ONLY   March 11, 1997   Perry Peregoy Vice President National Association of Securities Dealers NASDAQ Issuer Services 1735 K Street N.W. 3rd Floor Washington, D.C. 20006-1506 Dear Mr. Peregoy:  We believe Solv-Ex […]

Solv-Ex has been forced to cancel an announced shareholder and broker conference call scheduled for this morning. Solv-Ex had claimed that an independent expert would report to stockholders that the “first stage” of its production […]

Solv-Ex claims it is on schedule to commence oil production. In reality, Solv-Ex has stopped all work on its attempt to build a permanent facility. Instead, Solv-Ex is attempting to temporarily rigits completely unfinished plant […]

VIA FAX (212) 469-8602 AND HAND DELIVERY March 7, 1997 Deutsche Bank North American Holding Corp. 31 West 52nd Street New York, NY 10019 Attention: Robert Lynch, Esq. Compliance Officer Dear Gentlemen: Asensio & Company, […]

Last Thursday, Solv-Ex announced that it had “documentary evidence” that short sellers of Solv-Ex stock had “engaged in serious wrong doing”. Regulators halted trading and forced the Company to produce its documentary evidence. Contrary to […]

We have confirmed reports that Solv-Ex continues to lay off employees after announcing a dismissal of 240 workers. We have obtained official confirmation from Solv-Ex that the company has laidoff its Process Planner and his […]