This week, I stumbled upon a curious securities filing from US Oil Sands Inc. dating back to 2012. It contains an intriguing detail:
There’s nothing strange about investment companies buying shares in an oil firm. Ice Rose Holdings is overseen by Serafino Iacono, co-chairman of Pacific Rubiales Energy Corp., while ID Introduction Ltd. is led by Jose Francisco Arata, as confirmed here. Arata is also the president of Pacific Rubiales. Typical oil industry dynamics, right?
What piqued my interest was the address of Arata’s company. Torre Kyra PH-1—now where have I seen that address before? Yes, that’s right: Derwick Associates. After spending numerous hours digging into both Pacific Rubiales and Derwick Associates, without ever suspecting any connection*, I was left in shock.
A Pacific Rubiales executive using Derwick’s address back in 2012 would have been quite a story.
As I often do, I reached out to Pacific Rubiales for clarification. To my surprise, they actually responded. A polite note (despite mistakenly thinking I was someone else). Here’s their statement:
Regarding Derwick Associates, Mr. Arata claims he doesn’t know the company or its management and has no ties to it. The address in question was previously used by companies Mr. Arata was linked to in Caracas, but that office was sold in 2009 and hasn’t been utilized by him since. The 2012 filing was simply an oversight on our end, as we failed to update ID Introduction’s corporate address while assisting Mr. Arata with his notice of private placement. The correct corporate address is now in Panama.
We appreciate the heads-up on this issue, and we are double-checking all our filings to ensure that ID Introduction’s correct address is accurately reflected in all future documents.
Now, onto another individual using the address of Torre Kyra, PH-1. Mr. Alvarado, I’d love to hear from you as well, but I couldn’t find any contact details. Please reach out and let me know how I can get in touch.
* Unless you consider that both have connections to David Osio’s financial institutions. But who doesn’t, right?