Joe Ireland, President, Chief Financial Officer and majority shareholder, founded Lone Star Securities, Inc. in 1987. Mr. Ireland is also president and majority shareholder of two oil and gas exploration companies and affiliates of Lone Star – Riley James Development Corporation and Harbor Resources, LLC.
Mr. Ireland attended Texas Tech University in Lubbock, TX prior to becoming the managing partner of an amusement vending company, which was sold in 1969. He was a realtor and builder from 1970 through 1980 when he sold his real estate company to enter the oil and gas industry as an independent petroleum landman for Jones and Lyons Oil Properties of San Angelo, TX.
In 1984, Mr. Ireland accepted the position as Vice President of an oil company in Abilene, TX where he assisted in the organization and structure of drilling programs and the daily management of the company's business. He resigned in 1985 to form Sands Petroleum, Inc., which, like Harbor Resources and Riley James, sponsored drilling programs for participation by industry and other investors. Mr. Ireland directed all operations of the company, including the acquisition of oil and gas leases (primarily in West Central Texas), funding, drilling, completion and operation of all wells associated with the leases and programs sponsored by Sands Petroleum.
Mr. Ireland sold the oil and gas interests of Sands Petroleum and moved to Dallas in 1993 to utilize Lone Star Securities as the funding arm of a company engaged in drilling oil and gas projects in South Texas. In 1997, he transitioned the use of Lone Star Securities to become the funding arm of Harbor Resources, a company formed to sponsor single well drilling programs in South Texas and Louisiana. While retaining the interests of Harbor Resources, Mr. Ireland formed Riley James Development Corporation in 2006 to sponsor multi-well drilling programs structured as limited partnerships.
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