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“Truthland” Panelist Awarded Norse Energy Stock Options


The well on Shelly Depue’s property

Click here to read how one of the panelists at this week’s screening of the natural gas propaganda film “Truthland” (Thursday, 7/26, 7pm, Burchfield Penney Arts Center, SUNY Buffalo State College) has been rewarded by his natural gas employer (Norse Energy), according to a report published yesterday. From the story:

Dennis Holbrook, Chief Legal Officer and EVP, received 1,000,000 newly issued options with an exercise price of 2.92 NOK. Mr. Holbrook holds an additional 83,333 share options which carry an exercise price of 20.10 and an exercise period of 9 June 2010 – 24 July 2014. Dennis Holbrook now holds a total of 1,083,333 share options and 218,387 shares in NEC.

That’s a lot of Norwegian Krone, my friend.

Holbrook has been keeping a high profile on the AV blog since Friday, when we published comments he made at an industry conference last Halloween. If high-volume horizontal fracking gets the go-ahead in New York, where Norse Energy has held a lot of leases, Holbrook and his company stand to make a lot more money.

“As the head of a public institution, I infrequently, if ever, comment on the content of campus speech. I am sure all sides will be represented and the dialogue lively,” said Buffalo State College president Aaron Podolefsky of the event.

According to this press release from the Independent Oil & Gas Association of NY, the “Truthland” panelists will also include, aside from Holbrook, Dr. John Conrad, Conrad Geosciences; John Holko, Owner, Lenape Resources; Dr. Scott Cline, Ph.D, Petroleum Engineering; and Shelly Depue, star of ‘Truthland’.”

Perhaps Dr. Podolefsky meant that all sides of the pro-fracking argument will be represented?


  • Quigley will never work in this town again.

  • James Northrup

    When I think of unbiased critics of fracking mockumentaries, I think of Dennis the Fracking Menace

    Don’t you ?

    Prof Jacobi  is not on the panel of Famous Fracking Shills ?  He sick ?

    See if Scott Cline has his eyeliner on. Look closely. 

  • Jim_Holstun

    Why does Buck Quigley hate our freedoms?

  • The Burchfield Penney hosted the People’s Hearing on Fracking this past June.  When approached by the by the Independent Oil & Gas Association of NY to present a screening of Truthland, we felt compelled to share another side of this ongoing debate.  

    Don Metz
    Associate Director
    Burchfield Penney Art Center

  • DontLetFactsStopYou

    Buck, clearly you skipped economics 101 or you are misleading people on purpose.  A stock option merely allows Mr. Holbrook to purchase 1,000,000 shares at 2.92 NOK, and the stock is currently trading at 2.58 NOK… so if he executed that option today he would LOSE or owe the company 34,000 NOK.  So you’re right that is a lot of Norwegian Krone to lose… I’m failing to see your point of this article, those options (like the 20.10 one) may never be worth anything.

    Perhaps if you did your job and actually researched Norse instead of spewing your clear political bias, you would know that Norse has been in severe financial distress and forced to lay off over 50 high paying jobs, most of which were employed here in Buffalo as a result of anti-everything types like you. 

    You as a member of the media owe the public a duty of care when publishing, go back to school so someone teaches you what it means to do your homework.

    Chip Northrup has been so discredited already many times over that I’m surprised he even crawled out from whatever hole he was hiding under to comment.  Do us all a favor Chip, and go back please.