- Report: #880928
Report - Rebuttal - Arbitrate
Complaint Review: Ry Holland Fielder, Ron Walblay| Ripoff Report Verified
Ry Holland Fielder, Ron Walblay| Ripoff Report Verified3000 30th Place suite 200 Fort Lauderdale, Florida United States of America
Ron Holland Fielder REVIEW: Ron Holland Fielder / Ron Walblay commitment to doing the very best for investors that can afford the risks. Commitment to Ripoff Report Corporate Advocacy Program. In the past 34 years of Ron Walblay's career in the Oil and Gas industry he has strived to attain strong investor relationships that span many years and many different projects. RyHolland Fielder prides itself in keeping up the communication with it's investing partners.
*UPDATE: Ry Holland Fielder Inc; - Ron Walblay recognized by Ripoff Report Verified
*General Comment: SEC Final Judgment
*Consumer Comment: SEC Filed enforcement Action 9/26/13
*Consumer Comment: Where did the stolen oil proceeds go?
*Consumer Comment: Lets cut right to the chase
*Consumer Comment: you wonder why the anonymity, because I suspect you'll use bogus lawsuits as a weapon
*Author of original report: What are the actual returns for the last five completed Ryholland programs?
*REBUTTAL Owner of company: The truth always comes out the same way...
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Ripoff Report Verified . [continued below]....
..The information provided in this report is based on comments made by Ron Walblay during an on-site inspection held by a third party verification company with no biases toward Ryholland Fielder Inc. .
Ronald Walblay and Ryholland Fielder Inc. have been in the oil industry for over three decades with the last program being Permian Basin Oil. Their first wells, Buckner 1 & 2 were drilled in Southern Illinois and came in over 100 barrels per day. They remained producing for 25 years and accumulated 60, 000 throughout their lifetime. The CE Skull well was drilled in 1991 and producer over 100, 000 barrels in the first 45 days and still remains in production to this day. In affiliation with Marathon, he drilled wells in 1993 until 2006 when they were sold to a publicly traded company for millions of dollars. There was also a well in Runnels County Texas that produced in excess of 348 barrels a day that lasted from July 31, 2010 to November 15, 2010.
Ronald Walblay has been featured in Oil & Gas Investor Magazine in their May 1998 issue and in present times. He also founded Blue Flame Energy Corporation in 1982 and remained with them until 2010 when they were sold. Ryholland Fielder Inc. believes they have affected thousands of US jobs and interests including ranchers, royalty owners, geologist, surveyors, steel workers, oil rig and pump-jack manufacturers, drillers, oil field and refinery workers, road builders, pumpers, well tenders and many other contracted workers.
Their sales process begins with an officer of company that surveys and extensively screens bona fide potential investors. Potential investors are given a full security investment package that outlines all requirements, mission statement, procedures and a highlighted risk summary. Potential investors must be accredited under the terms of an individual whose liquid net worth or joint net worth with spouse exceeds $1M. Or an individual with income in excess of $200 K in each of the two most recent years or joint income in excess of $200 K in each of the two most recent years or joint income with spouse in excess of $300 K in each of those years while reasonably expecting to reach the same income level in the current year. Or any entity that meets the federal securities law definition for the term accredited investor as defined in rule 501 of Regulation D. Once established, the investor enters into a turnkey contract that can be terminated at any time by submitting a quit claim. During the course of an investor working with Ryholland Fielder, Ron Walblay is readily available to any investor at any time and strongly urges them to contact him.
In past years the company states some internal systems that have needed improvement has been a couple employees were found guilty of company embezzlement and city wide investment fraud due to the hiring of a fraud examiner. One of these former employees is Michelle Bennett of Eagerville, TN and the case is well documented in news headlines. Since then, the fraud examiner has ensured all records and filings by employees of Ryholland Fielder Inc. conform to regulations. Additionally, the telecommunication/data system was inefficient because of being VoIP and has since been upgraded to T1 network as shown in attached photos. Ryholland Fielder Inc. also reports to all investors through periodic updates via mail of all production material and yield from investment sites nationwide.
Ron Walblay - RY Holland Fielder Inc / Statements from the owner.
I want people to know 3 things.....How I run my business, how I respond to questions or complaints, and that I am the owner and president and I give my investors my personal phone number so they can reach me 24/7 with questions.
All the investors took a risk and wrote off taxes.... tremendous tax returns. I drilled every well to professional standards, It was a great opportunity to get a return. I they dont like production out of a well,. it's nature and its a risk, the riskiest!
I'm a small independent producer and I always disclosed its a risk. I drill, I hit large and small wells and all are done with professional standards. They gambled, some won, some lost. We affect 1000's of jobs... steel workers etc.
The most current posting was an employee I fired because he was not selling and he stole from the company.
Some of the common complaints that have been received are from investors that expect to see returns overnight. Oil investment along with any business investment such as the stock exchange is a gradual process and it can take some time before an investor can see a profit. Essentially, the oil company is at the mercy of what the earth yields in any given region and all best efforts are made on the investors behalf. This information is extensively provided within the initial security package describing potential risk and no guarantee of immediate returns.
The standard practice to resolve customer complaints is initiated via owner and/or office contact which clients are encouraged to do. As outlined in the investment package, investors have the option to receive a portion of the interests back which they are more than welcome to deduct for tax purposes as an intangible drilling cost ordinary loss. This is through a buyback agreement that states interest can be purchased by Ryholland Fielder Inc. within a minimum of 24 months of production if the client is not satisfied and negotiations and offers can be made. Working interest owners can also complete quit claims with the company.
The company states there was a situation in which a former investor had unrealistic and unreasonable expectations and it was attributed to the function of the oil well. Initially the investor was able to see some substantial profit however the well stopped producing and the investor wanted their entire investment returned to them. This is not a standard practice by any investment company and it is clearly outlined within the security package that has to be signed and terms and conditions agreed upon by each investor before actions are made by Ryholland Fielder Inc. All efforts within and exceeding company standards were made by Ryholland Fielder Inc. to come to an amicable conclusion with this investor. Unfortunately, the investor was still not satisfied and resorted to other means to demean Ryholland Fielder Inc. and defame the character and reputation of the owner, Ronald Walblay.
Ron Walblay suggests that his employees handle all situations with professional care and to be forthright and reasonable with the information provided to potential investors. This information must also conform to company standards and industry regulations. Employees must provide the agreement information within the security package verbatim to avoid any confusion and all communication must be approved before public release. The investor must feel comfortable and understand the risks involved and considered with the highest priority at all times. The investor also must receive an outline of production yield with every return. There is a zero tolerance policy for unethical standards performed by employees and all information within the investment security package must be provided without consequential misrepresentation. All lines of communication are also open to potential and current investors and have been improved upon and Ronald Walblay has reaffirmed his position on being available always to help or answer questions.
Since Ripoff Report, the company states that here have not been many changes because Ryholland Fielder Inc. has implemented high standards for many years. The company wants to ensure total customer satisfaction and also provides ongoing information through an investor relations discussion board. Responses to inquiries are done by the owner and/or the investor relations representative. Ronald Walblay also states that he has also made continued efforts to have open communication with investors and the use of a fraud examiner to maintain a high and intolerable level of conformity amongst corporate employees.
Ryholland Fielder Inc. and Ron Walblay state that they realize that in the business world, specifically investments, you cannot satisfy everyone and there can be some backlash because of this. They state that they are making every effort possible to provide the best customer experience and firmly stand behind their brand and reputation they have maintained for 34 years. They are about self-representation in a fair manner and want all investors to under the risks of the industry and/or potential returns before proceeding. Being a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program affords Ryholland Fielder Inc. the ability to be seen from an ethical business standpoint and to maintain investor relations on a positive level considering they have never been involved in any lawsuits and/or criminal business practices.
Ron Holland Fielder - Oil Field Finder Inc, Ry Holland Fielder Inc; - Ron Walblay recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Reports Review of the company, Ron Holland Fielder and Ron Walblay have made organizational changes allowing its Investors and employees a more streamlined approach to problem resolution and a commitment to a great Investor experience the best they can, with the risks involved..
In summary, after our investigation, which included discussions with Ron Holland Fielder and Ron Walblay, Ripoff Report is convinced that Oil Field Finder Inc, Ry Holland Fielder Inc; is committed to their Investors the very best they can. They know, they make money if their Investors make money.
Check out their YouTube Videos
Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike.
Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.
NOW TO THE ORIGINAL REPORT THAT WAS FILED
Ryholland Fielder Ron Walblay Con Artist, Fraud, Criminal, Wife Beater, Embezzler Fort Lauderdale, Florida
Save yourself the heartache of being ripped off and losing your savings. Ron Walblay is a FRAUD in my opinion. Ryholland Fielder is a FRAUD in my opinion. Ryholland Fielder's past investment programs are ALL complete failures and investors lost nearly everything. The company has NEVER EVER not lost nearly everything entrusted to them for an investment program. Ryholland programs are the worst investments imaginable. You are better off simply burning your cash - at least then you would get some heat.
Almost every investor I've met that became involved with this man shares the same feelings that his company is a complete scam. His ex-wife claims in newspaper publications to have been the victim of domestic violence. There are claims from his ex business partner of embezzlement of funds from their company they jointly owned. He has been HIDING from his investors for over a year and will not take telephone calls or e-mails and will not respond to messages. None of the investors have any idea what the status of their investments are or where their money went. The company has no employees except possibly one secretary and Ron will turn on her too eventually I beleive just like he has on everyone else. Ron pretends to be a very significant investor in every program to convince investors to trust the success of the investments - its not true - he is not invested much at all and possibly not at all and the investments are all FAILURES. Even if some day he gets lucky and really hits oil with a well, he has no employees to manage it and it will likely be mismanaged by out of state contractors. That too is a lie - he pretends to be this big time successful oil and gas producer with several fully staffed departments like revenue distribution, roughnecks, land crews etc ...
Don't beleive the YOU Tube video "Striking Oil" although that well in the video produced some oil and that was the biggest success Ryholland has ever had, it was actually a huge failure. That well has been abandoned for many months now and did not produce for very long at all. Investors received very little of their investment funds back on that one and will never break even. However, the real problem with that well is Ron pissed away roughly $4,000,000 of investor funds drilling one dry hole after another trying to offset it even though the geologist claims to have urged him to slow down and be more cautious with investor funds. I think he actually drilled something like 9 dry holes trying to offset this one well trying to find oil that was not there - all with investor money and not his own. He is setting up his employees to take the fall for him by claiming they embezzeled all of the money from his bank accounts and the investment partnership accounts. He is always setting someone up to take the fall for him.
There is a story about a phony car bomb plot in the local Bowling Green paper that seemed to implicate someone in his own home conveniently around the time he was getting a divorce - it reads like one of his now famous setup attmepts. Ron claims investors will only pay to complete drilled wells that will be viable oil producers. Ron even refers to drilling funds as "risk capital" and indicated well completion funds are not. It's not true - his company made a huge profit on the completion funds and he completed nearly all the wells and nearly all turned out to be failures "dry holes" Finally - when asked to produce the investment records including receipts and bank statements and records for where investor money was spent for the investment partnerships, Ron refused. There is obviously something in those records he is trying to hide. Then in another one of his famous setup attempts he filed a multi million dollar lawsuit against some of his former employees claiming they embezzeled from him and from the investors.
This report was posted on Ripoff Report on 05/10/2012 01:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/Ry-Holland-Fielder-Ron-Walblay-Ripoff-Report-Verified/Fort-Lauderdale-Florida-33306/Ron-Holland-Fielder-REVIEW-Ron-Holland-Fielder-Ron-Walblay-commitment-to-doing-the-very-880928. 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.
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