Sep 2
2008

George O. Houseman, of Carrollton, Texas, pled guilty on September 2, 2008, in Collin County, Texas, to a felony information charging him with engaging in fraud in connection with the sale of securities, working interests in oil and/or gas leases in the state of Texas, in an amount of $100,000.00 or more. Houseman committed fraud in connection with sales made to two investors from June 16, 2005 forward by failing to disclose the following material facts: (1) that William E. Durkee, the controlling principal of Aransas Oil Company, Inc., Mineral Leases of the Southwest, Inc., and Mineral Leases, Inc., all companies for which Houseman worked as a salesman, had been convicted of mail fraud in 1998; and (2) that the Texas Securities Commissioner had issued a cease and desist order against Aransas Oil Company, Inc., William Everett Durkee, Richard Ranspot and George House on May 31, 2005. Houseman was sentenced to 10 years deferred probation and ordered to pay $54,046.50 in restitution to the two victims in the case.