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Missouri Officials have issued an alert about marketers calling promoting oil and gas offers. KSMU’s Katie Easley has this report.
Secretary of State Robin Carnahan’s office has several ongoing investigations into oil and gas drilling investment offers. The Secretary’s office is concerned that Missourians are being targeted in a nationwide scam. Abe Rakov is a spokesperson for the Secretary of State’s Office.
“Oil and gas investments vary depending on who offers them, they are offered all throughout the country. But generally an oil or gas company sells a partnership unit to investors and then use that money to lease property and to build wells. The problem is many of these opportunities may be misleading and bring high risks," says Rakov.
Rakov says some of these promoters have not registered their offers with the state and claim to be exempt from state and federal regulation.
“A lot of these promoters throughout the state have been calling Missourians out of the blue offering these investments saying there is low risk and high reward. And investors should really check out any of these investments before making them,” says Rakov.
Carnahan’s office encourages Missourians to call the Missouri Protection Center at 1-800-721-7996 or visit online to make sure their investments are registered with the state of Missouri. You can find a link to the Protection Center’s web page on our website.
For KSMU News, I’m Katie Easley.