At this time we (“Midwest”) do not have any current offerings that are open to subscribers or potential investors. We have closed eight transactions to date, with our last being January 2014. We expect to have our next offering available when prices come back to a $60 level. Typically, we try to structure two offerings a year. This all depends though on what prospects have come available to our oil operators and the price of oil.
We don’t keep any offering open on a year round basis. Each offering typically is open three months for subscription. Once the minimum offering amount is raised, we move forward on the offering and days before the first well is drilled we close the offering.
Even though no offering is available, please contact us with your questions or to see if this is something for you. We can keep you posted on when the next offering is available.
**All investors, whether individuals or corporations, are required to meet the “Accredited Investor” definition as defined in the Securities Act of 1933, as amended. All potential investors must attest and provide proof that they fit this definition which is defined as the following:
Under existing Rule 501, a person qualifies as an accredited investor if he or she has either:
The determination of the reasonableness of the steps taken to verify an accredited investor is an objective assessment by an issuer. An issuer is required to consider the facts and circumstances of each purchaser and the transaction. The Securities and Exchange Commission has provided a non-exclusive list of methods that issuers may use to satisfy the verification requirement for investors.
These methods for verification of Accredited Investor status include the following: