Possible signs of an oil or gas scam

Possible signs of a scam: Tips to protect yourself from potential energy-related scams.
by Brianna Bailey Published: July 7, 2013
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POSSIBLE Signs of a scam

What you should watch for

• Be wary of investments that claim to offer particularly high rates of return.

• Scam artists will attempt to rush investors into making a quick decision to invest.

• Be cautious if the broker or adviser offering the investment has a relationship with the promoter or a personal stake in the transaction.

• Scams sometimes will use sales pitches referring to recent news events such as high oil or gas prices.

• Ask to see well history, and a third-party engineering report of the oil and gas assets being touted.

• Ask what type of reserves have been estimated, and ask for a report, one that has been audited if it is available.

SOURCE: Oklahoma Department of Securities,

U.S. Securities and Exchange Commission

by Brianna Bailey
Business Writer
Brianna Bailey has lived in Idaho, Germany and Southern California, but Oklahoma is her adopted home. She has a bachelor's degree in Journalism from the Univerisity of Oklahoma and has worked at several newspapers in Oklahoma and Southern...
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