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  • Report: #350751

Complaint Review: GulfTex Operating, Tbx Resources, Tim Burroughs

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  • Submitted: Sun, July 13, 2008
  • Updated: Mon, February 16, 2009

  • Reported By:Dallas Texas
GulfTex Operating, Tbx Resources, Tim Burroughs
3030 LBJ Freeway Dallas, Texas U.S.A.

GulfTex Operating, Tbx Resources, Tim Burroughs The Good, The Bad, and The Ugly of Oil and Gas Investments Dallas Texas

*UPDATE Employee: REPORT IS FALSE, INACCURATE AND INCOMPLETE

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Burroughs wrote checks from money invested in his oil and gas business for personal expenses, including $60,000.00 of the initial $ 120,000.00 raised on one joint venture, to fund the construction loan on his current residence.

As reported by the Securities Board of Texas.

He operated using TBX resources and also continues in the same business with Gulf Tex Operating.

I have the document on my website which I use to post investor comments and/or so they can make wiser decisions when investing in Oil and Gas companies.

Just cut and past into your browser:

http://sites.google.com/site/oilandgashomework/
(oil and gas homework)

Eric
Dallas, Texas
U.S.A.

This report was posted on Ripoff Report on 07/13/2008 01:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/GulfTex-Operating-Tbx-Resources-Tim-Burroughs/Dallas-Texas-75234/GulfTex-Operating-Tbx-Resources-Tim-Burroughs-The-Good-The-Bad-and-The-Ugly-of-Oil-and-350751. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

REPORT IS FALSE, INACCURATE AND INCOMPLETE

AUTHOR: Mcampbell - (U.S.A.)

The report filed by "Eric" on RipoffReport.com is both inaccurate and
incomplete.

"Eric" failed to report that the false accusations he is reporting were made by an ex-employee in an effort to decrease his sentence after being charged in 1998 and convicted in 2000 of embezzlement from TBX Resources, Inc.

After thorough investigation, no charges were ever filed because there were no improprieties. The accusations leveled by a convicted embezzler, were a baseless and unfair attempt to smear the name of TBX Resources, Inc. and it's founder Tim Burroughs. Official documentation of the ORDER LIFTING SECTION 5.0 SUSPENSION (after investigation was complete) can be found at:
http://www.ssb.state.tx.us/Enforcement/files/1401.pdf

Eric also failed to note that he was fired for failure to perform.

Tim Burroughs continues to successfully meet the obligations of GulfTex Operating, Inc. to it's satisfied joint venture investors. GulfTex Operating, Inc. has completed every project it has started and the joint ventures have received all due and payable revenues from producing interests in these properties.

Tim Burroughs and Gulf Operating, Inc., have an excellent 14 year track record for success and are well respected in the oil and gas community as evidenced by their current joint ventures with major independent oil and gas companies.
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