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Review by pissed1236 years ago
Another Texas oil and gas scam.
I was cold-called in January of 2012 about investing in an oil and gas venture in Texas with Aschere Energy. The investment included 3 wells in 3 different counties. The salesman was very knowledgable about the business and went into detail how many barrels of oil and cfm of gas that we could expect. Many emails were sent over several months describing the progress. They were very convincing. The latest email I received described in detail how this latest well was producing hundreds of barrels of oil a day and was in production and dividend checks would soon be sent out. I contacted the Railroad Commission and gave them the permit number of the well and made a request of how many barrels of oil were in production. Wouldn't you know it, that permit had no oil associated with it. But I did receive a check the other day for $84. With that rate of return, I'll be 115 before I get my investment back. It was just a tease to make me feel good. I don't. I've since found out that the Texas Securities Commission has filed a complaint in District Court against Aschere, Arcturus and the CEO and others.
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