UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release No. 15505 / September 24, 1997

     SECURITIES AND EXCHANGE COMMISSION v. WHITWORTH ENERGY RESOURCES, LTD.;
     WILLISTON BASIN HOLDING CORP.; AMERIVEST FINANCIAL GROUP, INC.; PETER
     SACKER; JERRY W. ANDERSON; and ROBERT M. KERNS, Civil Action No. 97-6980 DT
     (SHx) (C.D. Cal.)

          The Securities and Exchange Commission ("Commission") announced that
     on September 22, 1997, the Honorable Dickran Tevrizian, United States
     District Judge for the Central District of California, entered a Temporary
     Restraining Order, Asset Freeze, and Orders Prohibiting the Destruction of
     Documents and Granting an Accounting, against the following six Defendants: 
     Whitworth Energy Resources, Ltd. and Williston Basin Holding, Corp.,
     managing general partners of at least 18 oil and gas offerings; their
     affiliated registered broker-dealer, Amerivest Financial Group, Inc.; and
     their principals, Peter Sacker, Jerry W. Anderson, and Robert M. Kerns, who
     is a former candidate for United States Congress.  The Court also appointed
     a temporary receiver, Thomas F. Lennon, to take control of the three
     corporate Defendants, which are all located in Woodland Hills, California.

          The Complaint alleges that the Defendants, who are currently
     soliciting investors, have so far raised between $16 million and $19
     million from over 500 investors by offering and selling securities in the
     form of interests in oil and gas wells.  It is alleged, however, that the
     Defendants are operating a Ponzi-like scheme whereby the source of
     distributions to investors, although represented to be oil and gas
     revenues, in fact is mostly other investor monies.  Additionally, the
     Defendants in some cases do not own the oil and gas wells they claim to
     own.  The Defendants also sold the same interests in wells to at least
     three different groups of investors.  Furthermore, contrary to the
     Defendants' representations, investor funds were commingled and are not
     safeguarded in escrow accounts.

          The Complaint alleges that the Defendants violated the antifraud
     provisions, Section 17(a) of the Securities Act of 1933 and Section 10(b)
     of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and that
     Amerivest further violated the broker-dealer antifraud provisions, Section
     15(c)(1)(A) of the Exchange Act and Rule 15c1-2 thereunder.  The Commission
     seeks preliminary and permanent injunctions prohibiting each Defendant from
     engaging in securities fraud; disgorgement; payment of civil penalties by
     Defendants Amerivest; Sacker; Anderson and Kerns, and such further relief
     as the Court may deem appropriate.

          The hearing on the Commission's request for a preliminary injunction
     against the Defendants and appointment of a permanent receiver is scheduled
     for October 6, 1997.








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