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January 11, 2011

Comments

Very good piece choke..you outdid yourself on this one. Having been around for some time I would like to add a couple of lessons I learned the hard way for those just getting started. First, never underestimate the power of greed. Second, be wary when a deal closes and your partner or associate carries the title in his name receives the funds and he must cut you a check for your share. There is a condition called a narcissistic sense of entitlement. Once the money is in the hand, some in this business go into a trance and will not let go of it. They begin to rethink history and conclude this deal could not have happened without them…blah blah … blah…
I check this site every few months or so…..it is the enforcement section of the Texas State Securities Board. Our business is always well represented.
http://www.ssb.state.tx.us/Enforcement/Recent_Administrative_Actions.php?yid=2010

Excellent example, Royal. Yes... the guys insisting that the money go through them. Escrowed royalty money spends just as easily as prepaid drilling dollars. "Narcissistic sense of entitlement"! Yes. That might be a human condition! Good catch.

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