Burke v. Zipco Oil Co.

This is an action pursuant to section 13 of the Securities Law of 1953 (Ill. Rev. Stat. 1973, ch. 121½, par. 137.13) to rescind the sales of working interests in four oil and gas wells. The wells, which are located in Illinois, are known as “Eldorado West #1”, “Burton #1”, “Shick Well # 1” and “McDonald Well # 1”. Plaintiffs James Burke and Patricia Krueger- purchased interests in all four wells. Nathaniel Reed purchased interests in Eldorado West and Burton #1, and Diane and Daniel Gallagher purchased an interest in Eldorado West. In their complaint the plaintiffs alleged that the working…