by Stockwatch Business Reporter
The TSX Venture Exchange added six points to 1,245 on Wednesday. It was another slow day for the Canadian shell sector, without any new listings or qualifying transactions. Robert Dales's most recent shell graduate, the halted Drako Capital Corp. (DKC), has amalgamated with Trilateral Energy Ltd. and will resume trading soon under a new name, Amarok Energy Inc., symbol AMR.
Drako completed a bland, unDales-like QT in March by farming in on a three-well drilling program in Alberta being conducted by a different Dales shell graduate, Manitok Energy Inc. (MEI: $1.85), a recent recommendation of TD Securities Inc. analyst Juan Jurrah. Before Drako, shareholders of Mr. Dales's shells had become accustomed to a good and easy life, whereby Mr. Dales would introduce new oil and gas properties to the market and in no time he had his new companies trading over $1. In addition to Manitok, his two other shell graduates are Arcan Resources Ltd. (ARN: $1.37), which traded over $7 last year, and Celtic Exploration Ltd. (CLT: $16.94).