I home these scammers:
1) Watch their children die of cancer.
2) Die of cancer themselves.

All of you investment selling brokers have missed the true problem here. As a salesman who relies on phone prospecting I know that I need to refer to the National No-Call List before I make that cold call. These guys don't do that and should be made to pay the consequences. At the very least, they should respect requests by the recipient to stop calling. If you don't respect your potential client, how can they value your opinion on investments?

You are partially correct. They are licensed and everything they are doing is legal but that does not mean it is all above board.  I spoke with the person who called me from Texakoma and found out  some details about the "opportunity" they were offering.  He told me they have active wells in Roberts County, Texas which is in the Texas part of the Anadarko Basin.  I then called a friend who is a petroleum geologist and he said that where Texakoma's wells are is an area that does not produce a lot of oil and gas and is mostly used as a place that such boiler room operations can drill wells to attract investors but not ever produce enough that said investors recoup anything. Meanwhile Texakoma takes their cut and goes on to the next cold call.

Just because a scammer follows the letter of the law does not mean that what they are offering is legitimate.

Texakoma is a long-running scam.  Yes, they do tap dance around the edge of legality and yes, their brokers are licensed, but to get an idea of the inner workings of that brokerage, I suggest watching the movie "Glengarry Glen Ross".  Texakoma is set up to make money only for their owners.  Their AFEs are marked up way beyond actual costs, so Texakoma is making large money off of "investors" before any well is spudded.  On the slim chance that they actually make a well, they whack investors with substantial operating expenses; again at highly marked up prices.  I would be VERY surprised if, in their long history, they have actually had any well pay out to even the break even point for any investor.  Oil & gas investments are risky enough in their own right; tread lightly around any one who calls you out of the blue, and while you're on the phone with them, keep that image of the Glengarry boiler-room in the back of your mind

Bill,

Why don't you tell people about the excessive mark up of drilling cost? Land acquisitions? Offering fees? Legal fees?

Perhaps you should talk about all those "discovery" wells the Kennedy clan drilled over the years that investors got no benefit of? Or maybe we should talk about the P&A wells that were later reopened and commercially produced for the company benefit?

Oh yeah, let's not forget Bill owns stock in all the texakoma oil and gas subsidiaries. Which is a conflict of interest for a financial member of a broker dealer right?


Maybe Shea Kennedy could get out of the racket ball court long enough to actually do something other then talk about how great he was as a wrestler?

But your probably still getting those great prices on those hand down cars from Deano,
So don't bite the hand that feeds you right?