Black Rock Petroleum Co (BKRP) company history: the story so far

History

Black Rock Petroleum, a small shell-like explorer, was shaken by auditor disputes, a merger with unknown outcome and a reversed California oilfield deal, and now holds no stated oil or gas assets.

2017-2018: Auditor troubles

The record opens in February 2017 with a dispute over the company's accounts. Three notices that month said the auditor, MaloneBailey, was no longer in place. The first said the company had ended the relationship. Two amended notices said MaloneBailey had resigned as of February 23, 2017, because the company filed its April 2016 annual report and July 2016 quarterly report on January 26, 2017 without its review and used its audit opinion without consent. The company said it would seek a new auditor and re-file amended reports.

In July 2018 the problem widened. The company said its quarterly and annual reports dated January 31, 2015 to January 31, 2018 had not been reviewed by an independent accountant and could not be relied on. Michael Gillespie & Associates was now reviewing and auditing them, and amended reports were promised. The record does not confirm they were filed.

2020-2021: A merger and an oilfield

After a quiet stretch, the company signed a merger agreement on March 15, 2020 with Optimum Mining, Inc. Black Rock would acquire all 100,000,000 Optimum securities in exchange for 99,500,000 of its 120,850,000 shares. Walter J. Weekes, Sr. was to join as President and CFO, and Kimberly S. Halvorson became Secretary. The filings do not say what Optimum did, and no completion was reported.

In March 2021 the company reported buying Torrance Petroleum LLC, which held a 520-acre oilfield in Torrance, California. It paid not with new shares but with 60,425,000 shares owned by CEO Zoltan Nagy, transferred to the seller, Affluence Projects LLC. A planned issue of 50,000,000 preferred shares was dropped, and Affluence's Sivakumar Coramutla joined the board.

In November 2021 the company said the deal was not fully complete because ownership of the mineral rights was unresolved. A week later it rescinded the purchase, saying Torrance had not delivered what was needed. The rights went back to the seller, Coramutla agreed to return the shares to Nagy, and he was removed from the board. The company also deregistered its securities, ending its duty to file reports with the SEC.

2022-2026: Where it stood

The record for these years is thin. The share count rose from 120,850,000 to 160,850,000 in 2022 and to 200,000,000 in 2023, though the beats do not explain these changes. As of the latest context, in July 2026, the company listed no oil or gas assets, and the outcome of the Optimum merger remained unreported. Zoltan Nagy was the chief executive, and auditors noted doubt about the company's ability to continue as a going concern.

Written from the 9 story beats below (2017 to 16 Nov 2021), which come from the company's own announcements and filings.

Beat by beat

The events that changed the company's story, in plain English, each written against everything known about the company at the time. The dot shows whether it was good, bad or neutral for shareholders.

shares on issue market cap (log scale)

2021121m shares · US$166m market cap

16 Nov
Company unilaterally rescinded the Torrance Petroleum acquisition, saying Torrance failed to deliver the conditions needed to complete it. The 520-acre Torrance oilfield mineral rights go back to the seller and Sivakumar Coramutla agreed to return the 60,425,000 shares to Zoltan Nagy; Coramutla was removed from the board. The company says it is filing Form 15 to become an alternate reporter on OTC Markets. This reverses the March 2021 acquisition.
asset acquisition disposition
121m shUS$166m
16 Nov
Black Rock Petroleum Co deregistered its securities, ending its obligation to file reports with the SEC.
listing compliance notice
121m shUS$166m
9 Nov
Company says the Torrance Petroleum deal has not been fully consummated: ownership of the mineral rights on the 520-acre parcel is unresolved and the final asset transfer was not complete as of November 9, 2021. It still expects to complete it in the near future. This qualifies the March 2021 report of a completed acquisition.
asset acquisition disposition
121m shUS$166m
16 Mar
Company reports it acquired 100% of Torrance Petroleum LLC, which holds a 520-acre Torrance, California oilfield, deemed closed March 15, 2021. The price was 60,425,000 shares owned by CEO Zoltan Nagy transferred to seller Affluence Projects LLC, so no new shares were issued; the planned 50,000,000 Series A Preferred shares were dropped in an amendment. Sivakumar Coramutla of Affluence was added to the board. The Optimum Mining deal is not mentioned here.
asset acquisition disposition
121m shUS$717m

2020121m shares

9 Apr
Company says it signed a merger agreement on March 15, 2020 with Optimum Mining, Inc., to acquire all 100,000,000 Optimum securities in exchange for 99,500,000 of 120,850,000 Black Rock common shares outstanding. Walter J. Weekes, Sr. is to join the board as President and CFO, and Kimberly S. Halvorson was appointed Secretary. The filing does not state Optimum's business or the deal's closing conditions.
business combination
121m sh

2018121m shares

20 July
Company says quarterly and annual reports dated January 31, 2015 to January 31, 2018 were not reviewed by an independent accountant and cannot be relied on. It says Michael Gillespie & Associates is now conducting a review and audit and that amended reports will be re-filed once finished. It gives February 1, 2015 as the date MaloneBailey ceased to be auditor, whereas the 2017 filings said February 2017; it also widens the unreliable-report period beyond the 2017 filings.
auditor change
121m sh

2017121m shares

27 Feb
Second amended notice repeating that MaloneBailey resigned as of February 23, 2017 over the unreviewed 10-K and 10-Q filed January 26, 2017, and adding that the sole director approved seeking new accountants on February 1, 2017. Includes the MaloneBailey letter saying the 10-K/A will remove its opinion and note the reports were not audited by it. No new auditor is named yet.
auditor change
121m sh
27 Feb
Original notice that MaloneBailey is no longer the auditor, stating it was engaged until February 1, 2017. It says the April 30, 2016 10-K and July 31, 2016 10-Q filed January 26, 2017 were not reviewed by an independent accountant and were filed in error. Attached letter says MaloneBailey had not approved them and that a 10-K/A will remove its opinion. This account of the departure (a company decision) differs from the amended filings, which say MaloneBailey resigned.
auditor change
121m sh
27 Feb
Amended notice that auditor MaloneBailey resigned as of February 23, 2017. The filing says it resigned because the company filed its January 26, 2017 10-K and 10-Q without MaloneBailey's review and used its audit opinion without consent. The company says it is seeking a new auditor and will re-file amended reports; MaloneBailey's letter agrees with the statements about it.
auditor change
121m sh