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.

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.

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‘The Business Guide to Malaysia’, part of the Business Guide to Asia’ series, will provide detailed information on setting up and running business ventures in Asia.

The past seven years has been a period of very rapid economic growth for Malaysia greatly aided by a large inflow of direct foreign investments. It is the aim of the country to achieve a developed contrystatus by the year 2020. The Business Guide to Malaysia addresses all important economic … More >>

Business Guide to Malaysia

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Indonesia Mineral & Mining Sector Investment and Business Guide… More >>

Indonesia Mineral & Mining Sector Investment and Business Guide

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An enclyclopedic view of doing business with Taiwan. Contains the how-to, where-to and who-with information needed to operate internationally…. More >>

Taiwan Business: The Portable Encyclopedia for Doing Business with Taiwan