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by Stockwatch Business Reporter

The TSX Venture Exchange lost 4.58 points to 763.10 Thursday, ending the month down 20.53 points. Toby Pierce has listed his fourth capital pool shell, Foreshore Exploration Partners Corp. (FORE: $0.10), following a $215,000 initial public offering at 10 cents through Haywood Securities Inc. It has yet to trade. Mr. Pierce, who previously spent two years as the lead oil and gas analyst at GMP Securities Europe LLP, is also the chief executive officer of TAG Oil Ltd. (TAO: $0.37), an oil and gas producer in New Zealand and Australia.

In 2012, Mr. Pierce named his first capital pool shell Crest Petroleum Corp. and hoped to close an oil and gas deal for the shell's qualifying transaction. He lined up potential QTs with an oil field services company in Texas and with an oil and gas explorer in California, but both deals fell through. He left Crest without closing a QT. In January, 2018, Mr. Pierce left his second shell without having arranged a single potential QT. He did, however, make an $18,000 profit by selling his escrowed shares. Finally, last month, he closed his first QT. That QT was a blockchain deal for his third shell, Seaside Exploration Partners Corp., which now trades as Delphx Capital Markets Inc. (DELX: $0.72). Seaside's IPO shareholders, who paid 10 cents a share, are doing well so far. Mr. Pierce also did well for himself by selling his Seaside escrowed shares for a profit of $42,000.

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