Judah petroleum interests to be sold for paying back victims - KCBD NewsChannel 11 Lubbock

Judah petroleum interests to be sold for paying back victims


A federal judge ordered on Tuesday that more of the property seized from Benny Judah can go up for auction.

Judah is the former Lubbock businessman who is now in prison for a Ponzi Scheme involving 250 or so victims -- mostly from the Lubbock area.  They stood to lose a little less than 40 million dollars however; a court-appointed Receivership Trustee has been selling Judah's property to at least partially reimburse the victims.

Judah had partial ownership in 8 oil or gas wells, which will now go up for auction on March 1, at 2 PM in the basement of the Lubbock National Bank building, 1001 Main Street.

The auctioneer will be Brent Graves and participants will be asked to register ahead of time.

For more information as the auction date approaches go to the Receiver's web site. The oil and gas wells are described as:

a. A 0.0625000 working interest in Flowers Foundation Gas Unit Well #3 (06B), Ashby (McDonald) (9000), API: 45-321-32133, Matagorda County, TX;

b. A 0.12500000 working interest in Hinchen Gas Unit Well #1 (02A), Saller (Travis Peak), API: 42-365-34832, Panola County, TX;

c. A 0.01170833 net revenue interest in Hinchen Gas Unit Well #2, Carthage Cotton Valley, API: 42-365-37520, Panola County, TX;

d. A 0.1250000 working interest in Miller Gas Unit #1, Naconiche Creek (Rod.- TP Cons.), API: 42-347-31652, Nacogdoches, TX;

e. A 0.0546875 working interest in SWOLI A-1; McAllen Rach (Guerra, E.), API: 42-215-33094, Hidalgo, TX;

f. A 0.06250000 working interest in R. B.  ET AL Trull Well #1 SWD, Ashby (Simpson), API: 42-321-31756, Matagorda County, TX;

g. A 0.06250000 working interest in R. B. Trull ET AL Gas Unit Well 2, Ashby (Frio, Lower), API: 42-321-31800; Matagorda County, TX;

h. A 0.250000 working interest in Walls #1, J. G. S. (Pettit, Lower), API: 42-365-34062, Panola, TX.

Powered by Frankly