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PETROLEUM RESOURCE DEV. CORP. v. STATE, ETC.

No. 50618.

585 P.2d 346 (1978)

PETROLEUM RESOURCE DEVELOPMENT CORPORATION, Petitioner, v. STATE of Oklahoma, ex rel. Bruce W. DAY, Administrator of the Department of Securities and the Oklahoma Securities Commission, Respondent.

Supreme Court of Oklahoma.

October 3, 1978.

Attorney(s) appearing for the Case

David W. Jackson, Schuman, Milsten & Jackson, Tulsa, for petitioner.

Alvin L. Thomas, Gen. Counsel, Oklahoma Securities Commission, Oklahoma City, for respondent.

DOOLIN, Justice:

In this case petitioner Petroleum Resource Development Corporation, seeks to offer and sell units consisting of working interests in an oil and gas well. The sale is sought to be made without registration under the Oklahoma Securities Act 71 O.S. 1971 § 1 et seq. as amended 71 O.S. 1977 Supp. (the Act), by virtue of the exemption afforded by 71 O.S. 1977 Supp. § 401(b)(15)(A).

Petitioner is an Oklahoma Corporation engaged in the...

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