TTENTION PAYSON PETROLEUM INVESTORS – CALL Our Securities Lawyers if You’ve Invested with Payson Petroleum, Payson Operating, or any of Their Private Placements
If you have invested in any of Payson Petroleum/Payson Operating’s private placements, including the 3 Well Programs, contact our securities lawyers for a free consultation. Our lawyers have recovered tens of millions of dollars for investor losses due to broker and brokerage firm misconduct, including losses incurred on risky private placements. We represent Payson Petroleum Investors nationwide on an individual bases through FINRA on a contingency fee. Call 888-760-6552 for a free consultation, we advance all costs.
Payson Petroleum and Payson Operating filed for chapter 7 bankruptcy in June 2016. The bankruptcy was later converted to a chapter 11 bankruptcy. According to the bankruptcy trustee, neither Payson Petroleum nor Payson Operating will have the funds to pay its unsecured creditors after administrative expenses are paid.
According to an SEC complaint filed in November 2016, the amount of unsecured debt, which was primarily raised through Payson Petroleum private placements, is at least $23 million.
Payson Petroleum raised millions of dollars through various private placements, including filing Form Ds with the SEC for the following offerings:
- Payson Petroleum, Inc.;
- Payson Petroleum Jenny #1, L.P.;
- Payson Petroleum J.C. #1, LP;
- Payson Petroleum Grayson 2 Well, LP;
- Payson Petroleum Crowe 1, LP;
- Payson North Texas Multi-Well I, LP;
- Payson Petroleum Brown No. 1 L.P.;
- Payson Petroleum 3 Well, LP;
- Payson Petroleum 3 Well 2014, LP;
- Payson Developmental Drilling Fund 2014 II, LP;
- Payson Drilling Fund 2015 I, LP; and
- Payson Drilling Fund 2015 II, LP.
The following brokerage firms may have served as underwriters and/or received compensation for at least one of the aforementioned deals by selling it to their customers:
- AYRE Investments Inc.;
- Balanced Financial Securities, LLC;
- Wall and Company Securities;
- PTX Securities, LLC;
- EDI Financial Inc.;
- Financial West Group;
- Moloney Securities Co., Inc.;
- A. Repple & Company;
- H. Hill Securities LLLP;
- Security Research Associates Inc.;
- MidAmerica Financial Services;
- Whitehall-Parker Securities, Inc.; and
- CFD Investments Inc.
CALL 888-760-6552 to talk to a Securities Lawyer not about how you may be able to recover your investment losses.