SEC IMPOSES A PENNY STOCK BAR AND OFFICER AND DIRECTOR BAR AGAINST FORMER CEO

FROM:  SECURITIES AND EXCHANGE COMMISSION

The Securities and Exchange Commission announced that on November 14, 2012, the Honorable Colleen McMahon, United States District Court Judge for the Southern District of New York, granted the Commission's motion for summary judgment against Defendant Christopher Metcalf, and issued a final judgment imposing a $50,000 penalty against Metcalf and barring him from participating in an offering of penny stock and from acting as an officer or director of a public company for a period of five years. Metcalf had previously consented to the entry of partial judgment against him, permanently enjoining him from future violations of Sections 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

The Commission's complaint, filed on January 24, 2011 in federal court in Manhattan, alleges that Metcalf, former President and CEO of Pantera Petroleum, Inc. ("Pantera"), and stock promoter Bozidar "Bob" Vukovich engaged in a fraudulent broker-bribery scheme designed to manipulate the market for Pantera common stock.

After considering the undisputed facts, the Court found that Metcalf "knowingly and enthusiastically engaged in a broker bribery/stock manipulation scheme involving Pantera's stock while serving as Pantera's President and CEO." The Court found a clear record of Metcalf's violations of the anti-fraud provisions of the federal securities laws and imposed a $50,000 civil penalty and a penny stock bar and officer and director bar against him.

The SEC acknowledges the assistance of the United States Attorney's Office for the Southern District of New York and the Federal Bureau of Investigation in this matter.