Coydog...
being a petroleum engineer and having a great exposure to O&G plays around the country, there is a basis for many scams using what is called the "Clinton formation" throughout the midwest.
Con artists have used this fm. for decades as it is shallow and exists about everywhere over a huge areal extent, wells are drilled cheaply, quickly and always have initial production.
Problem comes about when the initial reservoir pressure depletes and the well ceases to produce. There were cons where the investors were taken by busloads to the actual drilling of the well they invested in, and on cue it did produce, great excitement erupts and visions of having your own Rolls Royce and private jet are seen, now excited, the con artists empty the newly excited investors wallets, credit cards and bank accounts, to drill more of the same.
Always works, but the wells cease production just like they always do in about a month and now comes the big...
"Sorry, things like this happen, that's why you have to be patient and put some more money up and we'll definitely hit some more pay zones!"
Rinse and repeat with a new bunch of suckers.
Just a little warning regarding the infamous "Clinton Formation"
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