Texas company told to stop soliciting in Colo.

AP News
Posted: Nov 17, 2009 11:01 AM

A Colorado regulator has entered a cease-and-desist order against a Texas oil and gas company accused of offering unregistered securities in Colorado.

Colorado Securities Commissioner Fred Joseph said Plano-based Sethi Oil & Gas Inc. and its founder Sameer P. Sethi agreed to the order that was made final Monday.

The company was accused of trying to raise $750,000 for drilling by selling unregistered investments in an oil- and gas-related venture in wells to be drilled in Texas.