Oil & Gas Investment Marketing Strategies
Nowhere to Hide, Nowhere to Run
By Jeanne C. Stilwell
You cannot escape Y2K, no matter how hard you try. You have to prepare yourself and your clients for the possible Millennium Bug.
This is a tip from one marketing professional to another. You might like to try it with your clients. There are many books out on Y2K in the marketplace. There is one booklet I found that is most useful, called "Your Personal Guide to Self and Family Protection." The booklet – over 85 pages in length – is a positive guide to being prepared.
Here are a few tips from the booklet. For more detailed information, or to order a copy, visit www.g2ware.com.
What is the fuss over Y2K anyway? The Y2K problem is very simple in nature. The problem is easy to fix, but time consuming to find, correct and test. The question is, will it be corrected in time? Y2K has the potential to affect information stored in a computer whose applications rely on date mathematics to manage your assets and accounts.
The key to maximum protection is looking for those areas in your life where a computer controls your assets and date mathematics may be involved with those assets. The best thing is, just be prepared.
There are eight chapters in the booklet that illustrate all those areas. Here are six critical areas where you can be prepared – and help your clients do the same.
The following comments are direct quotes from the booklet:
It is important to have copies of all your bank records. It is recommended that you have a minimum of six months back bank statements. These statements should include all checking and savings accounts. If these accounts are supported by direct deposits, you should also have copies of the direct deposit authorizations.
This section is necessary to show where you have money invested. This is a very broad section. Stocks, bonds, Mutual Funds, Savings Bonds, IRA, 401Ks, personal investment plans, and Annuities to name a few. Be sure to include as much information as possible. This is your money and you should not lose it because of a computer error. If 01/01/2000 shows a difference from 12/31/1999, then you will be able to help the institution either track down their problem or at a minimum restore your account to the appropriate level.
This is a very important section. Regardless of your current status with SSI, it is important that you understand exactly what your benefit standing is.
If you are currently not eligible for Social Security, you should contact the SSI office at https://www.ssa.gov. The Social Security Office will download a report that reflects all of your contributions and your options in the future. If you do not have a computer your local library should be able to assist. If neither of these are an option, contact your local Social Security office for instructions.
If you are currently eligible for Social Security and are not partaking of the benefits you should follow the procedure above.
If you are currently receiving benefits you should still contact the Social Security Office for an update. You should have available your original documents granting you benefits. You should also keep copies of the checks or direct deposit statements you have received for the last six months of 1999.
IRS – You should have five years of past taxes and their supporting documents. You need to also be able to support 1999's tax year.
State taxes, if applicable, should be managed the same as the IRS.
It is especially important to document any tax issues you deem closed between you and the taxing agent. This should include what the disputes were about, the resolution, and especially documents and proof of any payments or releases from obligations.
You should also be able to document any alternative minimum tax payments you have made in the current tax year.
Deeds and Titles
All deeds and titles should be found and organized with the rest of you asset papers. Property surveys and any contracts which affect the use, the ownership, or pending action concerning your property should be identified and documented.
Cash and Credit Management
Banks are completely dependent on computers. Although the banks do not expect you will have a problem, you should not depend on ATMs and other electronic sources of cash to be available. You should not depend that your credit cards will take care of any problems you might experience with getting cash. You should determine how much cash you feel you might need to survive with for a period of 10 to 30 days. Most banks are working on insuring that this is not a problem. If there is a problem, it will probably not be created by your bank, but rather the elaborate support systems they have created to reduce bank traffic. If these support systems fail or even partially fail, the lines at the banks will make the gas crisis of the past look like a picnic . . . .
I have attempted to name only a few of the critical areas described in the booklet. Again, for more detailed information visit www.g2ware.com.
This booklet, "Your Personal Guide to Self and Family Protection," was not created to create panic or even to predict the future. The information contained within the document is presented with the best of intentions to inform and neither carries nor implies any guarantee. It does not predict the future and can not be considered a predictor of events yet to happen.
Jeanne Stilwell brings to this Newsletter a wealth of knowledge and experience concerning oil and gas investment, its evaluation and marketing, gained over twenty-three years. For questions, contact Jeanne at or 800.362.4590.
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Copyright © 1997, 1998, 1999, and 2000 by Lewis G. Mosburg, Jr. and Ogden, the Invisible English Sheep Dog
"Lewis Mosburg's OIL & GAS NEWSLETTER" and "Lewis Mosburg's OIL & GAS PRIMERS" are trademarks of Lewis G. Mosburg, Jr.