Complaint Review: Gulftex Operating - Euro American - TBX

I have over 550,000 reasons to get this on the web. They will tell you anything to get your money. My investments with them are netting about 2-3% a year. While the exit strategy for the investors (ie, moving everything into a corp. and going public) has never materialized. Yet Gulftex and Tim Burroghs sold their ownership in all their Barnett Shale holdings to another company(which was all profit, because they used the small investors money to fund the projects and kept on average 20% of each of the wells). The small investor pays for everything, their mark up, their profit, all costs for the drilling, operating, clean up, operations, etc.

They make the money not you. You cover all the expenses. Dont believe the BS. Unfortunately, I sent them all the money before any of the projects were completed (the last one took over 2yrs to complete, add that into your return on investment equation) I was told I should expect a return of $26000 a month on my investment, its closer to a couple hundred a month. Its true they drilled the wells, but that is it. Dont believe their claims of returns. Many of their projects have been PUD (proven un developed) on the small investors dime. You fund everything they get the free ride and the up front mark up. Either way they make the money, while the small investor gets the ongoing bills, everyone makes out except for you.

I've been contacted by their former boiler room guys, none of them have anything good to say about Gulftex, Tim, or Euro American. They also wanted me to invest in their latest project, they must have thaught I was really stupid. Run away dont answer their calls, Definitely dont send them a dime.

John
Oxford, Michigan
U.S.A.