For The Archives: Primary Petroleum Is No Longer Primary Petroleum; Air America Radio Personality Ed Schultz To Drift Away

On the blog there has been an occasional reference to Primary Petroleum (PETEF.PK). Ever wonder what happened to Primary Petroleum?

The press release:

Primary Petroleum Corporation (TSX VENTURE:PIE)(PETEF) ("Primary" or the "Corporation"), and Keek Inc. ("Keek"), a private Ontario corporation, announced today that they have entered into an arm's length letter of intent dated November 15, 2013. Keek is a private global social video company that enables its users to create up to a 36 second video message (a "keek") and share it with the Keek community.

Yes, the Primary Petroleum company sold all its oil and gas assets, and was "bought" by Keek. Keek had the plan; Primary Petroleum had the cash.

At the time the deal was closed, MarketWatch reported:

Keek is a global interactive video content network which at a click of a button allows users to distribute its content in real time. A Keek is a short video (up to 36 seconds) and 111 characters of accompanying text that can be enabled thru the web, IOS, Android, Window 8 and BlackBerry 10 mobile platforms. Users can interact on Keek directly with other users through "keekbacks", the platform's unique ability to respond to a keek (short video) with a keek. These interactions can occur in either a public or private view. Private sessions can include up to 35 others. 

The Financial Post also provided a bit of background.

Before the reverse takeover, The Wall Street Journal reported:

Primary is a junior oil and gas company engaged in exploration and development activities in NW Montana and currently holds substantial land positions in both an unconventional and conventional oil play. The Company's mandate is to continue to acquire strategic opportunities in the Sedimentary Basins of the Western United States and Canada and seek out qualified industry partners to assist in the exploitation and development.

I never invested in Primary Petroleum, though I remember thinking about it at the time. And now it's an internet video content provider.

I guess it just sort of drifted away.

Drift Away, Rod Stewart

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Also drifting away:

Less than a week after Air America Radio refugee Randi Rhodes signed off with her last broadcast, libtalker Ed Schultz announced that he too is ending his radio show.

The 3-day Memorial Day weekend turned out even better than I could have imagined. LOL.