HITSGALORE.COM (HITT) Message Board

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Microcap & Penny Stocks : HITSGALORE.COM (HITT)

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To: Jeffrey S. Mitchell who wrote (4353)	10/5/1999 2:34:00 PM
From: Traveler	Read Replies (1) of 7056

LFT (or Wilcher) is probably not an operator of the field, they/she is probably a non-operating, working interest owner. The Texas RR Commission would have (I think) a list of working interest owners, for tax purposes, but the site you looked at was a production site which would (from a quick review) list the operators. They/she could also have an internal royalty (assigned from a working interest owner) which would not necessarily be a registered interest - a less secure form of ownership. I'm completely theorizing here, I know from my O&G days that there were as many different types of deals struck as there are flies swirling around a Hitt press release. Additionally, due to the language Hitt used, LFT may own a production payment which was then assigned to Hitt. Their language is very vague which makes it extremely difficult to pin down what type of ownership does, or doesn't, exist. All my opinion, of course.

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