Las Vegas Review-Journal
November 30, 1983
Church of Scientology buys into Oklahoma oil company
by Jack Taylor
The Church of Scientology, one of the nation’s wealthiest and most
controversial religious organizations, has moved into the oil business
with the purchase of a significant interest in an Oklahoma City oil and
gas exploration company, the Denver Post has learned.
The church also has provided $3.3 million to finance drilling
activities for the company, HG&G, inc.
The investment was made through a Florida-based non-profit unit of
the church, and is the religious group’s first venture into active
participation in the energy business.
[snip]
HG&G, the Oklahoma oil company now 25 percent owned by the
church, is a small exploration company formerly known as Highlands,
Goodall & Greer Inc. The company encountered financial difficulties
and shriveling conventional lending sources following the collapse of
Penn Square Bank N.A. of Oklahoma City in July 1982.
[snip]
The other 75 percent of HG&G is equally owned by partners Goodall,
L. Wendell Knox and Jerry K. Greer. Goodall said none of the owners is a
member of the Church of Scientology.
[snip]
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