On one of many others, it concerned several “producing” wells, two of which we plugged and abandoned shortly after the money was exchanged. The different two new wells that have been part of the deal have been a complete flop. The third one, once more it was “completed” immediately however measly manufacturing began nearly a 12 months later at a fraction of the rate advertised and after 2-3 months, it bumped into dwindling production rates and is not shut in for some purpose …
After Matthew Fleeger’s fight with most cancers, he led Gulf Coast Western to partner with the Sadie Keller Foundation on a number of of its initiatives. Their projections are overly optimistic and as soon as they get an oil producing nicely they at all times appear to have problems and the production diminishes. I do have an oil producing nicely with them but at the fee it’s producing I will never partnership reviews get my investment back. The buda 1 well was supposedly a success during the drilling process however has since give up producing. Would have been onerous to sell the relaxation of the buda wells in the event that they didn’t have a good properly on #1. Talked to Matt Fleeger and he claims they’ve already spent $36, 000.
For any enterprise alternative, a possible investor wants to ensure that they’re coping with a reputable firm. Stated one other means, the investor needs to know that the firm possesses the infrastructure and assets to comply with through on its guarantees. Earmarked for improvement with our Joint Venture Partners. We even have several drilling applications in these areas with plans to continue our aggressive enlargement campaign for a number of years to come. Mud flats close to the Gulf Coast typically have high salt content material and solely assist vegetation corresponding to salt grass. Mesquite could be discovered anywhere within the area, regardless of soil kind or quality, whereas most large hardwoods are found primarily within the moist soils of creek and river bottomlands.
Two major occasions were turning factors within the earlier history of the Gulf Coast area. The first was the American Civil War, which caused extreme damage to some financial sectors in the South, together with the Gulf Coast. At the tip of the 19th century Galveston was, with New Orleans, one of the developed cities within the region.
They tried to promote you on excessive month-to-month revenue potential solely assuming manufacturing charges from other oil corporations. GCW had no observe document for what that they had accomplished – massive red flag. Too many unfavorable experiences right here to ever consider doing business with Gulf Coast Western. A Gulf Coast Western three method partnership partnership delivers a quantity of benefits.
In August, we are barely at 12 % of the highest of their projection. I do not consider there could be any case for fraud, but their estimates are not to be trusted, and their timing is to not be trusted. It took a couple of yr earlier than the second well began to produce.