A 2-employee Las Vegas-based company claims to have legal rights to Arctic oil and gas. hummmm.... Market cap of the company: $288 million (yes!). Judge for yourself at: www.arcticoag.com
“Arctic Oil & Gas Corp. (Pink Sheets: AOAG) is an oil exploration venture company that has filed for the exclusive exploitation, development, marketing and extraction rights to the oil and gas resources of the seafloor and subsurface contained within the ”Arctic Claims“.
An Exclusive Rights Claim to the Hydrocarbon Resources of the Arctic Oceans Commons was formally lodged by the Company and its partners with the United Nations and the five Arctic countries on May 9th 2006....”