Estate of H.A. True, Jr. - Page 32




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              The personal representatives, trustees, and Jean True                   
          individually, resided in Casper, Wyoming, at the times they filed           
          their petitions with this Court.                                            
              B.   Formation and Growth of True Companies                             
                   1.  Reserve Drilling                                               
              Dave True graduated from college and married Jean True in               
          1938.  During the next 10 years, he worked in the oil and gas               
          business for the Texas Co. (later known as Texaco) in various               
          positions, eventually becoming Wyoming State superintendent of              
          drilling and production, based in Cody, Wyoming.  During this               
          time, Tamma (1940), Hank (1942), and Diemer (1946) were born.               
              In 1948, Dave True left the Texas Co., moved his family to              
          Casper, Wyoming, and became manager of Reserve Drilling Co.                 
          (Reserve Drilling), a one-rig contract drilling business.  Dave             
          and Jean True’s youngest child, David L. True, was born in 1950.            
          By 1951, Dave True owned 15 percent of Reserve Drilling, Doug               
          Brown, an attorney, owned 10 percent, and unrelated companies               
          owned the remaining interests.  Reserve Drilling generated                  
          substantial profits and acquired additional rigs under Dave                 
          True’s management.  Eventually, the unrelated companies sold                
          their interests to Dave True and Doug Brown, who financed their             
          purchases with borrowed funds.                                              










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