Texas Allied Petroleum has been in the business of oil and natural gas exploration since 2005. The company is privately funded and is aggressively building its portfolio of production in Gulf Coast area and the mid-continent region specifically in Kansas, Wyoming, Oklahoma, Louisiana, and the state waters of Texas. With the peaked of the natural gas prices in mid-2008 which resulted in its long and steady decline, the company shifted its focus to oil production for most of 2009. Its current objective is to achieve a 50/50 mix of natural gas and oil production as this will create a more consistent revenue stream.

The key drivers of oil exploration for Texas Allied Petroleum include the price of oil, technology, and the availability of oil field services. The price and the current worldwide proven reserves determine whether a specific exploration project will be economically attractive. The company’s ability to acquire existing production at distressed prices has proven beneficial for their short and long term growth as they focus on fields with significant turnover to increase their ROI. The availability of computers and advances in seismic technology had drastically improved the process of oil exploration. The company makes use of 3-D seismic bright spot technologies to acquire prospects. There had been high success rates using this method against using subsurface geology without this technology. Moreover, the company acquired small working interest positions from large scale drilling projects which significantly decreased the overhead types of their drilling operations.

GDS publishing scam unveils yet another scam and this time it was Bernie Madoff who was arrested and was accused for running the largest scam of US history. He introduced a scheme called ponzi and duped thousand of investors raising US $ 65 billion.

Some of the victims of the scam wanted a pay back and several of his belongings were put to auction to recover the money of the investors and to the surprise of auctioneer, some of the items were sold at a cost many folds than was expected. The luxury items owned by the scammer that were put to action included his New York Mets Jacket, clothing, jewelry and four boats that he owned. The auction that took place in Sheraton hotel and tower In New York attracted several bidders and was handled by Gaston and Sheehan Auctioneers. The 14-carat diamond earrings of his wife Ruth went for staggering US $ 70000 and the collection from other jewelery mounted to US $ 900,000.

Some items where sold at a bargain price, but several other exceeded the expectations of the auctioneers by large as the Jacket was sold for US $ 14000 a price which is 20 times the estimated value. Three of the four boats that he owned were sold for US $ 1000000.

According to the officials, the bid will generate more money than it is required to pay the investors off. He is currently serving 150 years sentence and according to what was revealed last month he shares his room with a 21 year old drug offender.