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Today’s News Headlines from Alabama 810 News

  • Gadsden couple indicted in fraud scheme
  • Marsh re-appointed party finance chairman
  • Acreage on the market in gas rich St. Clair


Gadsden couple indicted in fraud scheme 

A federal grand jury returned an indictment Wednesday charging a Gadsden couple with carrying out a $99,638 bank fraud against a transportation company.

32 year old Richard Keith Thompson,  and 36 year old Monica Murphy Thompson,  are charged with conspiracy and bank fraud in a scheme that operated from March 2002 to May 2003.

They are accused of fraudulently applying for and receiving two credit cards in the name of the owner of Woods Transportation of Gadsden where Monica Thompson was the secretary and bookkeeper.

Prosecutors said the two took cash advances on the credit cards, using the money for personal gain. The indictment said the two then conspired to forge the signature of the company's owner through checks drawn on his back account to pay down the credit card balances.



Marsh re-appointed party finance chairman 

The new chairman of the Alabama Republican Party -- state Representative Mike Hubbard – has reappointed state Senator Del Marsh as the party's finance chairman.    Hubbard says he and Marsh worked together last year to raise more than two-point-five (M) million dollars for Republican legislative candidates across the state. Marsh also served as the party's finance chairman under previous party Chairman Twinkle Andress Cavanaugh.    Marsh is an Anniston businessman who is serving his third term in the state Senate. 


Acreage on the market in gas rich St. Clair

More acreage in energy-rich St. Clair County is on the market, just as drilling companies scramble for more land in Alabama's booming natural-gas oasis.  A Texas-based timber company said Tuesday it plans to sell underlying mineral rights to 351,000 acres in Alabama and Georgia. The company didn't say how much of the land is in the new, 40-square-mile Big Canoe Creek gas field 45 miles northeast of Birmingham.   Kenny Jastrow, chief executive of Austin-based Temple-Inland Corp., told investors on a conference call Tuesday there has been "a significant gas find in Northern Alabama" and that his company has "land in that area."

Natural-gas exploration companies have been offering landowners $500 per acre signing bonuses and an 18 percent share of eventual natural gas revenues.
Others have struck it rich..

But gas fever hit St. Clair County in earnest last month when one of the production companies asked the Oil and Gas Board for permission to expand drilling. Dominion Resources admitted that some of the gas shales run 7,000 feet thick - four times thicker than the shales in the nation's largest onshore gas field, in Texas. Most of the exploration is near Ashville.

There are 16 active or permitted wells in St. Clair, according to the most recent Oil and Gas Board records. Virginia-based Dominion Resources operates 14 of them and Birmingham-based Energen Corp. has two.

Energen, which explores for energy throughout the South and Southwest, said last year it was exploring in Alabama, but had declined to say where. An Energen representative confirmed at an Oil and Gas Board hearing this month the company has been active in St. Clair County.

Geologists say the underlying formation containing the natural gas is much larger than the St. Clair County portion, and that it might run south of Birmingham and into northern Georgia. Some have compared its potential to the legendary Barnett Field, which covers 5,000 square miles in Texas.

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