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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

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SEC: Houston oil company made fraudulent claims

 

HOUSTON (AP) – The federal Securities and Exchange Commission has determined that a Houston oil and gas company misled investors by making fraudulent claims about its oil reserves.

The SEC announced Monday that Houston American Energy Corp. and its CEO, John F. Terwilliger, had claimed that a Colombian exploration venture had yielded between 1 billion and 4 billion barrels of oil reserves. But the SEC says the estimates "lacked any reasonable basis."

SEC officials say false claims made by the company in 2009 and 2010 allowed it to raise about $13 million in a public offering and saw its stock price increase from $5 per share to $20. Houston American now trades for about 40 cents per share.

A phone message left for an attorney representing Houston American was not immediately return.
 

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