207 - 1425 Marine Drive
West Vancouver, BC V7T 1B9
Telephone: (604) 357-1251
We have received complaints from residents of Norway that were solicited by representatives of Ovetii, an investment advisory firm located in Athens, Greece, to purchase shares in a company called Southern Oil, which purports to have an address in British Columbia. We have verified that the West Vancouver address posted on Southern Oil's website is a mail drop. The company that operates the mail drop advised us that Southern Oil is not one of its clients and that Southern Oil is using the West Vancouver address without its authorization.
Southern Oil is not registered to sell securities in British Columbia and has not filed a prospectus with the British Columbia Securities Commission.
On November 20, 2007, The Financial Supervisory Authority of Norway issued a warning that Ovetii was not authorized to provide investment services in Norway.
On December 21, 2007, Austria's Financial Market Authority (FMA) issued a warning that Ovetii was not licenced by the FMA to provide investment services.
On October 24, 2008, the Hellenic Capital Markets Commission (HCMC) issued a public warning, advising investors that Ovetii was not authorized by the HCMC to provide investment services in Greece.