Energy Source Inc ex BCIT Announces it will Act as Depository and Clearing Agent for its Shares in Lieu of the DTCC and is Pursuing its Renewed Commercial Activities.

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Energy Source shares are no longer DTC eligible & as a result DTC has no involvement with these securities as a result of which, the DTC global lock no longer applies. BCIT/Energy source and the official Transfer Agent, Empire Stock Transfer Inc, will be act as depository and clearing agent in lieu of DTC enabling shares to be delivered to those who have purchased them from brokers.

Thomas Megas CEO of Energy Source Inc fka BCIT states that The Transfer Agent for the company since January 2007 is

Empire Stock Transfer Inc
1859 Whitney Mesa Dr.
Henderson, NV 89014
Phone: (702) 818-5898
Fax: (702) 974-1444
Email: mjb(at)empirestock(dot)com

This has been clearly stated in all SEC filings from 2007.

The Shareholders register held by the Transfer Agent, Empire Stock Transfer , shows that DTC only hold 645,000 shares, yet information collated from investors sales confirmation documents as well as trading records, indicates that various brokerages may have sold as many as 1.3 billion shares.

Energy Source has submitted formal written requests to Terri L Reicher Associate General Counsel for litigation for FINRA and Nancy J Gegenheimer of the SEC Denver Regional Office, to ask them to initiate investigations on behalf of the company and its 1500 investors into allegations of naked short selling by brokers and the wilful refusal by the same brokers to deliver certificates to investors.

It also needs to be made public, that the DTC ruled some time ago that Energy Source/ BCIT securities are no longer DTC eligible. As such shares held by DTC should have been returned to the company immediately. On 11th November 2011, Mr Megas formally requested in writing, that The DTC return all the 645,000 shares it holds for Energy Source to the company Transfer Agent.

Mr Megas reminds Investors that as the Energy Source securities are not DTC eligible, and because DTC has no involvement with these securities which means the DTC global lock no longer applies.

The role of Depository and clearing will now be undertaken by Energy Source and the Transfer Agent Empire Stock Transfer. Share certificates in these securities are readily available.

Energy Source invites those brokers who have made sales, but are not in possession of shares certificate to enable delivery to their clients to contact the company on the following email address in order that they may rectify this position tpm(at)energy-source-inc(dot)com

Energy Source Inc has for some time been engaged in ongoing discussions with other corporations involved heavily in the mineral ores, oil and gas and salvage and reclamation businesses located in the Americas, Europe and Asia with a view to making acquisitions.

The company is strategically well placed to pursue these objectives given the well developed relationships its management has established with some of these asset owners over the last 5 years.

It is the intent of the company to pursue these efforts vigorously given the enormous potential of some of these targeted assets.

The primary location is the Bougainville region of Papua New Guinea, an island with areas of large proven mineral reserves. Colourfully dubbed by some geologists`s as a `Treasure Island` Bougainville was scoured by German geologists in the 1980s. subsequent to the advent of mining activity in the 1970s by Rio Tinto. The Geologisches Institut in Hanover contains in excess of 10,000 pages of research on Bougainville`s 9000 sq kilometres of land.

The directors expect to enter into letters of intent with at least one of these asset targets, within the very near future. The company will keep shareholders fully informed consistent with confidentiality agreements as matters progress.

Talks are also advanced in the other targeted areas, including the energy and salvage reclamation business in Europe.

Thomas Megas
CEO Energy Source Inc


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