Five years ago in Texas, (Dallas, Houston, San Antonio) there were phone rooms consisting of 20 or more people, each phoning all over the country trying to raise funds for wells in the So. TX valley, all based on stories as you've just read. Rights sold be the big guys because it wasn't profitable for them. There are some huge wells in So. Texas, but, again, that's the exception. It's mostly little guys buying up rights to drill and funding the drilling with funds raised by the phone mills.
It reached a point where TX had to issue lisc. to them just to keep track of the scams. Thereafter it became very difficult for them to raise funds.
We've just had our money directed into this high risk drilling business, without solicitation, knowledge, or, for most of you any understanding whatsoever is involved. The risk reward ratio is disproportionate. If you had any understanding of the risk, you would not plunk down your money. |
