Additional Information for Southwest Resources, Inc.

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency.  If the matter is being appealed, it will be noted below.

On February 19, 2021 the business entered into an Agreed Cease and Desist Order with The Texas State Securities Board.  Mr. Dennis Keith Sanders and Southwest Resources, Inc.  Mr. Sanders and Southwest Resources, Inc. failed to disclose they did not own the Banks Leasehold, their sole connection to the Banks Leasehold was they were hired to plug the Banks #1H well, the previous operator of the Banks Leasehold determined the leases were no longer held by production and expired and they sold one-third of the working interest in the Banks Leasehold. 

It was determined Mr. Dennis Keith Sanders and Southwest Resources, Inc. misrepresented the fact they owed the Banks Leasehold and the leases of the Banks Leasehold were held by production, said the information being a misrepresentation of a relevant fact.  It was concluded they engaged in fraud in connection with the offer for sale and the sale of securities.  

It is ordered Dennis Keith Sanders and Southwest Resources, Inc. immediately Cease and Desist from engaging in any fraud in connection with the offer for sale or the sale of any security in Texas.  

For more details go to https://www.ssb.texas.gov/sites/default/files/files/news/ENF_21_CDO_1835.pdf.