RKS Agrees to Underwrite GulfWest Stock Offering

RKS Financial Group Inc. of Glendale said it has signed a letter of intent with GulfWest Energy Inc. to underwrite a $3-million public stock offering that will enable the Texas company to buy oil and natural gas reserves and develop its business.

William Stratton, chairman of RKS, said the plan to underwrite the offering was part of RKS’s strategy to diversify. RKS, formerly known as Otra Securities Group Inc., is a clearing service for brokerage houses.