For those of you who don't know, Patrick Power was president of both Austin and Montello, back when the farmout agreement was signed for the workover on the JB#1, and left April 11, 2006, just after Jeannine Davies resigned as a director March 30-06. Pat Power brought in Dwayne Tyrkalo and Bill Cawker.

The following are easily found on the web, and a link is at the end.

Investment banker and YBM director, Owen Mitchell, receives a five-year ban from acting as a director or officer and must pay investigation and hearing costs of $250,000. Directors Kenneth Davies and Harry Antes each receive three-year director bans and were ordered to pay costs of $75,000.

YBM was a front for Russian money laundering when the company pushed ahead with a $100-million secondary offering in November 1997.

Schmidt and Davies are founding directors of the Alberta Stock Exchange shell company that acquired YBM, a Pennsylvania-based magnet maker, thereby giving it an instant listing.

To acquire the company, Pratecs issued 110 million shares to YBM shareholders. Those shareholders included Semeon Mogilevitch, a high-ranking member of the Russian mafia, and an associate, Konstantin Karat

The beginnings of Montello

The trio then turned its attention to Montello Resources. Patrick Power (who was now Jeannine Davies' fiancé) became president. Jeannine was appointed a director and Ken Davies signed on as a consultant for $5,000 a month