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SHEPPERD v. BOETTCHER & CO., INC.

No. 87-132.

756 P.2d 182 (1988)

Rex A. SHEPPERD and Steve Edwards, Plaintiffs-Appellants, v. BOETTCHER & COMPANY, INC., Defendant-Appellee.

Supreme Court of Wyoming.

May 17, 1988.

Attorney(s) appearing for the Case

Richard Miller, Casper, Edward J. Pluimer and Peter M. Lancaster of Dorsey & Whitney, Minneapolis, Minn., for plaintiffs-appellants.

William E. Murane, Jeffrey T. Johnson, and A. Bruce Jones of Holland & Hart, Denver, Colo., Jack D. Palma, II, of Holland & Hart, Cheyenne, for defendant-appellee.

Joseph B. Meyer, Atty. Gen., Gay Woodhouse, Sr. Asst. Atty. Gen., for amicus curiae Wyoming Secretary of State.

Before THOMAS, CARDINE, URBIGKIT and MACY, JJ., and KAIL, District Judge.

URBIGKIT, Justice.

By certification from the United States Court of Appeals for the Tenth Circuit, this court determines as a question of Wyoming law:

"Does the sale of an undivided one-and-two-thirds per cent working interest in an oil and gas lease constitute a `security' as defined by the Wyoming Uniform Securities Act, Wyo. Stat.Ann. § 17-4-101 et seq., when the owner of the operating interest retains exclusive...

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