-------------------- BEGINNING OF PAGE #1 -------------------

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14722 / November 16, 1995 

SECURITIES AND EXCHANGE COMMISSION v. AMERICAN BUSINESS
SECURITIES, INC., ET AL., Civil Action No. 94-4866 ER(JRx) (C.D.
Cal.)

     The Securities and Exchange Commission ("Commission")
announced that on November 7, 1995, Final Judgments of
Disgorgement were entered against defendants American Business
Securities, Inc. ("ABS"), Southwest Energy Consultants, Inc.
("Southwest"), MacArthur Asset Management, Inc. ("MacArthur"),
John L. Casperson, Jr. ("John Casperson"), Barry J. Zimmermann
("Zimmermann"), Thomas A. Hicks ("Hicks") and Tim L. Epps
("Epps"), which ordered them to pay disgorgement and prejudgment
interest, but waived payment of portions of these amounts based
upon their demonstrated inability to pay them.  These defendants
consented, without admitting or denying the allegations in the
Complaint, to the entry of the Final Judgments.  

     Southwest and Zimmermann were ordered to jointly and
severally pay $4,759,171.81 in disgorgement, of which they will
pay $3,526,300.00.  MacArthur and Hicks were ordered to jointly
and severally pay a total of $3,271,569.00 in disgorgement, of
which they will pay $3,133,370.00.  ABS and John Casperson were
ordered to jointly and severally pay a total of $4,645,519.00 in
disgorgement, of which they will pay $121,112.22.  Epps was
ordered to pay, jointly and severally with defendant Trans Terra
Corporation, International, $6,338,248.66 in disgorgement, of
which he will pay $20,258.96.

     The Commission's Complaint alleges that from mid-1989 to
mid-1994, the defendants engaged in the fraudulent offer and sale
of oil and gas limited partnership and trust investments.  In
some cases, the wells had never been acquired.  In addition,
returns to investors were preset and not based on actual well
production.  The Complaint alleges that approximately $40 million
was raised from over 1,000 investors, most of whom are elderly.  

     On November 1, 1995, the Court found, following a trial,
that the remaining two defendants, Jeffrey Casperson and Western
Energy Acquisitions, Inc. ("WEA") were jointly and severally
liable for disgorgement of $4,062,614.00 and prejudgment interest
thereon, and ordered WEA to pay a third-tier civil penalty of
$4,062,614.00.  Previously, the Court ordered defendants Jerome
Casperson and Joseph Casperson to disgorge their ill-gotten gains
of $6,313,663.34, and $684,882.21 respectively, with payment by
Joseph Casperson of all but $25,836.38 waived due to his
demonstrated inability to pay.  All of the defendants had
previously been enjoined from violating the antifraud provisions
of Section 17(a) of the Securities Act of 1933 and Section 10(b)
of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder,
and additionally ABS had been enjoined from violating the
antifraud provisions of Section 15(c) of the Exchange Act and
Rule 15c1-2 thereunder.    See LR 14714; LR 14171; LR 14190; LR
14210; LR 14251; LR 14219.

-------------------- BEGINNING OF PAGE #2 -------------------