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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.69 points to 764.05 Tuesday. Seven-year-old capital pool shell Antler Hill Oil & Gas Ltd., which in 2013 changed its name from PrimeWest Exploration Inc., has changed its name again. Today it traded for the first time as Antler Hill Mining Ltd. (AHM), closing unchanged at one cent on 5,000 shares.

PrimeWest was founded by Greg Noval, a one-time shell-maker who is probably better remembered for his controversial oil and gas promotions. In 1998 his Canadian 88 Energy Corp. peaked at $7.55 on the Toronto Stock Exchange, then a year later it was down to $2. In 2008 his Canadian Superior Energy Inc. peaked at $5.01 on the TSX, but within months it had fallen to 49 cents. Canadian Superior filed for bankruptcy in early 2009. Mr. Noval was forced out of both companies by shareholders who were unhappy about cost overruns or other financial woes.

Mr. Noval listed PrimeWest in April, 2010, with a $250,000 initial public offering at 25 cents. He resigned from the shell in March, 2011, after the TSX-V noticed that PrimeWest was paying too much to companies owned by Mr. Noval (for example, $15,000 a month for rent). Mr. Noval has since remained out of the spotlight. He left PrimeWest in the hands of another oil and gas promoter, Vic Luhowy, who changed the shell's name to Antler Hill Oil & Gas in 2013. Last year Mr. Luhowy lined up a Kansas oil and gas deal for the shell's qualifying transaction, but the parties called off the deal a few weeks ago. They did not provide a reason, but a common reason for dropping shell deals is the inability to raise money. Under the QT agreement, the shell was supposed to sell a $1-million private placement at 6.4 cents. Following the cancellation of the QT, Mr. Luhowy resigned. He now sits on the board of just one public company, Western Canadian oil producer BlackPearl Resources Inc. (PXX: $0.98).

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