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'Crowd Funding' Enters The Oil And Gas Market

Nathanial Gronewold | E&E
Aug 16, 2013

HOUSTON - A new Houston-area startup is marketing an innovative online tool that claims to bring the "crowd funding" model to the oil and gas investment world.

CEO Rodney Giles says eOilBoom.com will make it easier for a company to seek out individual investors on projects where it's seeking to minimize its own risk.

Giles compared the new online service to Kickstarter with the exception that eOilBoom.com users can hope to profit from the producing and prospective wells they're looking to buy into. Kickstarter is a New York-based crowd-funding site that raises money for creative projects.

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