Louisiana state seal Louisiana Ethics Administration Program
Home Charges Search EAB Decisions Search
Ethics Board Docket No. 2025-171 <br /> Page 3 of14 <br /> 2. <br /> LORA is a Louisiana corporation incorporated in September 2019. Continuously since <br /> LORA's incorporation, Van Mayhall, III has served as LORA's President and Chief Executive <br /> Officer and Mr. Berthelot has served as its Chief Financial Officer. <br /> 3. <br /> LORA was formed for the purposes of creating a private entity to partner with OOC in a <br /> project to plug orphaned oil and gas wells. LORA and OOC entered into a cooperative endeavor <br /> agreement(the"CEA")in November 2019.Under the CEA,OOC recognized LORA as a financial <br /> institution to issue financial security to oil and gas operators to meet OOC regulations. In return, <br /> LORA would charge fees to its customers, operators regulated by OOC, and use a portion of its <br /> revenue to plug oil and gas wells.The CEA did not contain a specified term,and the CEA remained <br /> in effect continuously at all times at all times pertinent herein. <br /> 4. <br /> Mr. Adams,as an attorney in OOC,personally participated in the drafting of the CEA. The <br /> CEA was signed by Mr. Mayhall and Richard Ieyoub,the Commissioner of OOC. Their signatures <br /> were notarized by Mr. Adams. <br /> 5. <br /> Chromos Wealth Solutions, LLC ("Chromos"), is a Louisiana limited liability company <br /> organized in June 2020. Continuously since Chromos's organization, Mr. Mayhall and Mr. <br /> Berthelot have served as its managers. <br /> 6. <br /> In July 2020, Chromos and LORA entered into a service agreement whereby Chromos <br /> agreed to perform certain administrative and consulting services. Under the agreement, LORA <br />