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Report: #798900

Complaint Review: KEVIN BROYLES - VENTURA, California

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  • Reported By: paul the pest — Waco Texas United States of America
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  • KEVIN BROYLES 3160 TELEGRAPH RD.,SUITE 202 VENTURA,, California United States of America

KEVIN BROYLES TEAM RESOURCES INC. REF; GRAND SUMMIT FUND I,L.P. I THINK I WAS SCAMMED VENTURA, , California

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                 In Dec.2010, based on Kevin Broyles enthusiastic offering, including such ststements as"We found the King Sand'  on acreage wth "proven" potential, I purchased a minimum share of the Grand Summit Fund I,L.P. It was stated that "all 8 planned wells would be completed in the first quarter of 2011 with production  beginning shortly thereafter.

             As drilling of 5 wells progressed the enthusiastic reports continued as down hole logs indicated promising formations,with NO Water Encountered. One well was deemed  non-commercial and was was not lined with a casing, nor had laterals drilled and the formations fracked ,as were the other four.

             Then,  the bad news : suddenly there is water entering the wells  that wasn't there when all the drillng and completion efforts were going on. And poor u , even though oil end water are easily separated,we just hsve no way to dispose of al that water, so we'll just have to walk away with no was to recoup the costs no less make a profit. this was in Sept.

               They (kevin et al) chose thento move the last three wells of the originally planned eight to a different lease. As of today, Nov, 15,2011 there has beem no update letter from  K.B. since Sept. 30,but his side kick, John Olivia , has indicated to me thst there is some production problem.

I see on this rip off  site that other Kevin Broyles Limited Partnership Funds have disgruntled members,and at least one of my fellow Grand Summit Fund I partners saw the writing on thr wall in March 2011.

This report was posted on Ripoff Report on 11/16/2011 10:12 PM and is a permanent record located here: https://www.ripoffreport.com/reports/kevin-broyles/ventura-california-93003/kevin-broyles-team-resources-inc-ref-grand-summit-fund-ilp-i-think-i-was-scammed-ven-798900. 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. READ: Foreign websites steal our content

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