Information Regarding Gulftex Operati...

Information Regarding Gulftex Operating, Inc.

Posted in the Dallas Forum

Colt_Ledger

Since: Oct 10

Location hidden

#2 Nov 20, 2010
We appreciate all the email we have received thus far and ask that anyone else with knowledge of this company and its employees not refrain from sharing any information they may have on this alleged fraudulent operation.
Barnett Housholder

United States

#3 Jan 28, 2011
Over two years ago, I invested my entire 401K into the Frenchtown #2,(Barnett Shale) with Gulftex with the expectation of supplementing my meagar Social Security check. It was almost another year before the well was actually drilled. Once drilled, however, no attempt was made at fracting. By the time they got around to fracting the well, which was a year later, they met with opposition from the towns people concerning environmental empact, which would have been avoided had they fract it after drilling.

In January of 2011, they finally received approval to fract, and I am now waiting for that to happen.

In summary, my 401K has been tied up for over two and a half years with zero return on my money. If anyone knows of any recourse I might pursue to get my money back, I would certainly appreciate it, as I am now broke and destitute.

[email protected] .com
Jim Johnson

Plaquemine, LA

#4 Mar 16, 2011
Wow, you should be lucky your money was out of the stock market. You are actually lucky they tied it up. In the future, make sure you have production timelines attached to your investment
Barnett Housholder wrote:
Over two years ago, I invested my entire 401K into the Frenchtown #2,(Barnett Shale) with Gulftex with the expectation of supplementing my meagar Social Security check. It was almost another year before the well was actually drilled. Once drilled, however, no attempt was made at fracting. By the time they got around to fracting the well, which was a year later, they met with opposition from the towns people concerning environmental empact, which would have been avoided had they fract it after drilling.
In January of 2011, they finally received approval to fract, and I am now waiting for that to happen.
In summary, my 401K has been tied up for over two and a half years with zero return on my money. If anyone knows of any recourse I might pursue to get my money back, I would certainly appreciate it, as I am now broke and destitute.
[email protected] .com

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