- Report: #798900
Complaint Review: KEVIN BROYLES - VENTURA, California
Reported By:
paul the pest -
Waco, Texas, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
KEVIN BROYLES
3160 TELEGRAPH RD.,SUITE 202 VENTURA,, 93003 California, United States of America
Phone:
1-800-525-9908
Web:
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KEVIN BROYLES TEAM RESOURCES INC. REF; GRAND SUMMIT FUND I,L.P. I THINK I WAS SCAMMED VENTURA, , California
In Dec.2010, based on Kevin Broyles enthusiastic offering, including such ststements as"We found the King Sand' on acreage wth "proven" potential, I purchased a minimum share of the Grand Summit Fund I,L.P. It was stated that "all 8 planned wells would be completed in the first quarter of 2011 with production beginning shortly thereafter.
As drilling of 5 wells progressed the enthusiastic reports continued as down hole logs indicated promising formations,with NO Water Encountered. One well was deemed non-commercial and was was not lined with a casing, nor had laterals drilled and the formations fracked ,as were the other four.
Then, the bad news : suddenly there is water entering the wells that wasn't there when all the drillng and completion efforts were going on. And poor u , even though oil end water are easily separated,we just hsve no way to dispose of al that water, so we'll just have to walk away with no was to recoup the costs no less make a profit. this was in Sept.
They (kevin et al) chose thento move the last three wells of the originally planned eight to a different lease. As of today, Nov, 15,2011 there has beem no update letter from K.B. since Sept. 30,but his side kick, John Olivia , has indicated to me thst there is some production problem.
I see on this rip off site that other Kevin Broyles Limited Partnership Funds have disgruntled members,and at least one of my fellow Grand Summit Fund I partners saw the writing on thr wall in March 2011.
As drilling of 5 wells progressed the enthusiastic reports continued as down hole logs indicated promising formations,with NO Water Encountered. One well was deemed non-commercial and was was not lined with a casing, nor had laterals drilled and the formations fracked ,as were the other four.
Then, the bad news : suddenly there is water entering the wells that wasn't there when all the drillng and completion efforts were going on. And poor u , even though oil end water are easily separated,we just hsve no way to dispose of al that water, so we'll just have to walk away with no was to recoup the costs no less make a profit. this was in Sept.
They (kevin et al) chose thento move the last three wells of the originally planned eight to a different lease. As of today, Nov, 15,2011 there has beem no update letter from K.B. since Sept. 30,but his side kick, John Olivia , has indicated to me thst there is some production problem.
I see on this rip off site that other Kevin Broyles Limited Partnership Funds have disgruntled members,and at least one of my fellow Grand Summit Fund I partners saw the writing on thr wall in March 2011.
