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  5. 558 P.2d 1163 (1977)
 

STATE EX REL. DAY v. PETCO OIL & GAS, INC.

Nos. 49054 and 49806.

558 P.2d 1163 (1977)

STATE of Oklahoma ex rel. Bruce W. DAY, Administrator of the Department of Securities and for the Oklahoma Securities Commission, Appellee, v. PETCO OIL & GAS, INC., a Texas Corporation, Appellant. PETCO OIL & GAS, INC., a Texas Corporation, Petitioners, v. David M. COOK, Judge of the District Court of Oklahoma County, Respondent.

Supreme Court of Oklahoma.

January 11, 1977.

Attorney(s) appearing for the Case

Joseph C. Long, Norman, Michael R. Mallonee, Oklahoma Securities Commission, John E. Brewster, Jr., Oklahoma City, for appellees.

Gerald M. Birnberg, Bellaire, Tex., Michael A. Maness, Houston, Tex., for appellant.

Lewis Barber, Jr., Oklahoma City, for appellant and petitioner.

James O. Goodwin, Tulsa, for petitioner.

Bruce W. Day, Oklahoma Securities Commission, Oklahoma City, for respondent.

DAVISON, Justice:

Appellant corporation, Petco Oil and Gas Incorporated, promotes and sells undivided small fractional interests in oil and gas properties, coupled with an operating agreement.

In September, 1975, the Oklahoma Securities Commission initiated an investigation into the operations of Petco and other companies engaged in the sale of undivided fractional oil and gas interests in the State of Oklahoma....

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