Feb 12
2003

On February 12, 2003, David M. Phillips, III, was sentenced by U.S. District Court Judge Jorge A. Solis to serve 34 months in prison and ordered to pay approximately $2 million in restitution in connection with his conviction for securities fraud. The indictment related to misrepresentations made in connection with the offering of investments in the Del Norte Well Program by Phillips Exploration, Inc. also known as Phillips Exploration International Corp. and Addison Exploration, Inc., both with offices in Dallas, Texas. The case number was 302-CR-200-P.