Well, from what you've written, Reef is doing things the way they should be done if its registered with the SEC, and that's what I would personally expect of the folks from Reef. There's just so many bad characters running broker/dealer boiler rooms, especially down here in Texas, calling nursing homes looking for investors. And a lot of people lose a lot of money. Cawley, Gillespie looks like a very serious and respected firm. Looks like you are probably in a reputable investment, and I would not doubt that you will make some money. Good for you.
I saw this news article today, and instantly thought of Joan. I worry for everyone that puts trust in anyone, with their hard earned money. I am happy to see that this company is not the one Joan signed on with, but wanted to let others that may have dealt with this banned company, or considering it. I hope all is going well for Joan.
Oil investment company ordered to quit selling securities in ND
BISMARCK — North Dakota's securities commissioner says a purported oil investment company hasn't followed state rules.
Karen Tyler says New Hi-Tech Oil & Gas Discoveries LLC and its alleged owner haven't disclosed that they are the target of regulatory actions in at least six other states.
The other states claim the company and owner Dennis Stutes are selling unregistered securities. In Hawaii, state regulators say some oil and gas ventures are being fraudulently marketed.
Tyler has issued an order telling the company and Stutes to quit trying to sell securities in North Dakota.
The company and Stutes have addresses in Bismarck, San Jose, Calif., and Tulsa, Okla.
Snues, Things are going great with Reef.
Snues said:
I saw this news article today, and instantly thought of Joan. I worry for everyone that puts trust in anyone, with their hard earned money. I am happy to see that this company is not the one Joan signed on with, but wanted to let others that may have dealt with this banned company, or considering it. I hope all is going well for Joan.
Oil investment company ordered to quit selling securities in ND
BISMARCK — North Dakota's securities commissioner says a purported oil investment company hasn't followed state rules.
Karen Tyler says New Hi-Tech Oil & Gas Discoveries LLC and its alleged owner haven't disclosed that they are the target of regulatory actions in at least six other states.
The other states claim the company and owner Dennis Stutes are selling unregistered securities. In Hawaii, state regulators say some oil and gas ventures are being fraudulently marketed.
Tyler has issued an order telling the company and Stutes to quit trying to sell securities in North Dakota.
The company and Stutes have addresses in Bismarck, San Jose, Calif., and Tulsa, Okla.
Update. After over 2 years of investment I am receiving 12% tax free income on 668 wells and there are currently 200 more wells in drilling, permitting, completing and producing which the partnership is not yet receiving income. Partnership is committed to a total of 868 wells. If I value the company based on earning per share using CVX, XOM and COP's public performance the value of the initial investment is up over 50%.
Hello Joan,
Good to hear that you have invested with Reef. Can you please let me know if you are still receiving good returns and happy with them?
I have received prospectus on their latest investment opportunity of drilling 200 wells in Bakken region. Need your advice to go ahead with it or not?
Appreciate your help!
Thanks in advance!
Seta.
Hi, Yes I am currently receiving tax free 12.439% return on my capital investment paid monthly. As of July they have 701 wells they are receiving revenue and have 180 wells that are in stages of permitting, drilling, completing, and producing which the partnership is not yet receiving revenue. They received income from 9 new wells in June.
If I were you I would contact my nephew who is a financial consultant and he could tell you if their new venture is one to invest in. His internet site is Osland financial group in Scottsdale Arizona. You can search for the site and it will show his telephone number. He has a personal connection with people in this industry and knows if the investment will be a good one or not or the risk involved.
Here is the site address:
good luck, Joan
Seta G said:
Hello Joan,
Good to hear that you have invested with Reef. Can you please let me know if you are still receiving good returns and happy with them?
I have received prospectus on their latest investment opportunity of drilling 200 wells in Bakken region. Need your advice to go ahead with it or not?
Appreciate your help!
Thanks in advance!
Seta.
Hello Joan,
Cannot tell how much your feedback helps! Thankyou a bunch!
Seta.
I went out to the Reef site and found they have 2 offering up for investment. One they call the Archer Project and the other one is a drilling & income fund LLC. I would have to talk to a broker to understand both of these. They are very different investments.
Seta G said:
Hello Joan,
Cannot tell how much your feedback helps! Thankyou a bunch!
Seta.