Tap Oil And Gas Decieves its partners Austin Texas

Before becoming employed by TAP Oil and Gas, I did research into the company. I found NO instance of wrong doing by the company, except for a cease and desist order in Kansas, which the company has complied with since the order was issued. The order DID NOT pertain to any investor fraud or criminal complaint filed by the Kansas AG against TAP Oil and Gas. I found this information in all the materials disseminated by the company to potential investors. They are completely honest and above board about this information.

The company maintains a strict policy regarding the conduct of it's agents on the phone with perspective clients and makes sure that calls are frequently monitored for compliance with all established state and federal rules and telemarketing regulations. They also maintain a strict "no-call" list policy with several states and enforce that policy. The same is true for the "Do Not Call List."

The company has had several successful drilling projects since beginning operations in Texas and are regularly sending disbursement checks from the proceeds of oil and gas production to partners who participated as investors in those projects. The company also maintains records of well production and revenues through their operating company, and those reports are available to the public through open records kept by the Texas Railroad Commission, the agency that oversees well regulation and oil and gas production in the state of Texas.

The company does it's sales training through specifically worded script presentations that must be followed for compliance by all company personnel. They are careful not to exaggerate claims of success for well production estimates, and the materials clearly delineate the potential risks involved in these kinds of ventures. In fact, the company has a stringent policy regarding qualification of investors, and limits their participation by specific financial qualifications as bona fide accredited investors. They must gain acceptance by the company's president and CEO before they can participate in any project undertaken by the company.

The assertion by this "person" that TAP engages in conduct that is knowingly deceptive is false and has no basis in fact. The company offers particpation in joint venture projects, in which the investors have voting rights in the venture and can ultimately vote TAP Oil and Gas out as the venture manager and retain control among the other joint venturers in the project.

The projects are divided into a drill and test phase for one amount, and then a second investment for completion. As in the managment of the venture, the investors have the right to vote NOT to complete the well if it is deemed not completeable for commercial production. Therefore, de facto control and rights rest in the hands of the majority of the joint venture partners, which effectively restrains TAP from acting in any capacity other than the best interests of all the joint venture investors.

There are numerous cases and legal precedents in securities law that establish this type of joint venture as NOT being a "security" and therefore NOT in violation of the Securites Act of 1933. So the claim by the "person" leveling the complaint against TAP that they are operating outside SEC rules and regulations holds no water.

I have worked in the oil and gas industry for over 10 years and have had the privilege of working with some excellent companies who conduct themselves with honesty, reliability and integrity. I have also worked for a small minority of companies who were not reputable, and left those companies immediately upon discovering their lack of honesty and integrity. I also immediately advised any clients I brought to those companies to contact their attorneys and demand the return of any funds they had invested.

I did careful research and assessment of TAP before being employed with their firm. Based on the training, materials, activities and policies of the staff and managment of TAP since I began working with the company, I have absolutely NO hesitation recommending this company to any investor who likes the tax advantages and profit opportunities that only oil and gas drilling ventures can offer.

The company is solid, the projects they offer are well conceived and capable of delivering the potential results they represent in the project information they send to perspective investors.

In my informed judgement, the complaint leveled here against TAP Oil and Gas is absolutely without substance or merit!