Surgepays, Inc. current report, 15 December 2010

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SEC Filing Summary: North American Energy Resources, Inc.

Business Context and Reporting Period

This Form 8-K was filed by North American Energy Resources, Inc. (not Surgepays, Inc.) on December 15, 2010. The report discloses significant changes to the company's corporate governance and management team effective as of the filing date.

Key Financial Metrics

The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial statements or performance data.

Material Changes

The primary material change is the introduction of a new management team and the resignation of previous officers and directors:

  • Appointments: Clinton W. Coldren appointed as Chairman and Chief Executive Officer. Alan G. Massara appointed as Director, President, and Chief Financial Officer.
  • Resignations: Mr. Pruitt resigned from his officer post but remains a Director. Mr. Young and Dr. Silvey resigned from the Board of Directors.

Management Commentary and Background

Management highlighted the extensive experience of the new leadership in the oil and gas sector:

  • Clinton W. Coldren: Brings over 33 years of experience in oil and gas management, with a focus on the Gulf Coast. He has founded multiple successful companies, including Cenergy Corporation and Coldren Oil & Gas Company LP, and has executed transactions up to $500 million.
  • Alan G. Massara: Brings over 35 years of experience in energy and investment banking. He has raised over $2.5 billion in debt and equity and previously managed operations for Texaco Inc. and served as CEO of Four Springs Energy LLC.

Investor Verification Checklist

  • Verify the official resignation of Mr. Young and Dr. Silvey from the Board of Directors.
  • Confirm the effective date of Mr. Coldren and Mr. Massara's new roles.
  • Review the company's subsequent filings for financial data, as this 8-K contains no financial metrics.
  • Check for any undisclosed compensation arrangements related to the new appointments.