EX-5.1 4 kbfsopinion.txt OPINION OF SECURITIES COUNSEL Exhibit 5.1 KRYS BOYLE FREEDMAN & SAWYER, P.C. ATTORNEYS AT LAW SUITE 2700 SOUTH TOWER 600 SEVENTEENTH STREET DENVER, COLORADO 80202-5427 (303) 893-2300 FAX (303) 893-2882 August 13, 2001 Board of Directors Worldwide Petromoly, Inc. 12600 Deerfield Parkway, Suite 100 Alpharetta, Georgia 30004 Re: Registration Statement on Form S-8 Dear Board Members: We have acted as special counsel to Worldwide Petromoly, Inc. (the "Company") in connection with the proposed issuance by the Company of up to 20,000,000 shares of common stock, par value $0.01 per share (the "Common Stock") of the Company, which may be issued pursuant to the Company's Stock Incentive Plan (the "Plan"), as such number of shares may be increased in accordance with Plan in the event of a merger, consolidation, reorganization, liquidation, recapitalization, stock dividend, stock split, or similar event involving the Company. We have examined such documents, records and matters of law as we have deemed necessary for purposes of this opinion and based thereon, we are of the opinion that the Common Stock when issued pursuant to and in accordance with the terms of the Plan will be legally issued, fully paid, and nonassessable. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement on Form S-8. Very truly yours, KRYS BOYLE FREEDMAN & SAWYER, P.C. By: /s/ Jon D. Sawyer ----------------------- Jon D. Sawyer JDS/va