Report: #1013034

Complaint Review: Earth Energy Exploration

  • Submitted: Tue, February 12, 2013
  • Updated: Tue, February 12, 2013
  • Reported By: Robert — Alabaster Alabama United States of America
  • Earth Energy Exploration
    700 Missouri Avenue
    Jeffersonville, Indiana
    United States of America

Earth Energy Exploration Jason Towe, Mike Wood Sold partnerships to oil and gas wells that were already producing in April 2010, but have not distributed any proceeds since January 2011. The check I received was actually in response to the Better Jeffersonville, Indiana

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Earth Energy Exploration sold me partnerships in two projects, LT-5, LLP and Golden-Dam, LLP in March and April 2010.

As of February 2013, I have not received any proceeds from the LT-5 project at all. The money used to finance this project was in an IRA account that had to be transferred to a trust company called IRA Services, who in turn, turned the money over to Earth Energy Exploration.

I had to transfer $300.00 over the original amount of the partnership for a custodial account. Now, that money is gone and IRA Services is wanting me to replenish my account, which I am refusing to do. 

In December 2010, I asked the Better Business Bureau to contact EEE because I had not heard from EEE after placing numerous telephone calls to them. The next month I received a production distribution check for the Golden-Dam project and a telephone call from Mike Wood of EEE asking me to call off the BBB. The distribution check was evidently hush money to call off the BBB because I have not received any more distributions.

I know I will never get my money back for these bogus partnerships, but EEE needs to flat line the LT-5 project so I can at least claim my loss that is tied up in the IRA Services account. 
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