Complaint Review: Gulftex Operating, Inc -TBX Resources - Dallas Texas
- Gulftex Operating, Inc -TBX Resources 3030 LBJ Freeway Dallas, Texas U.S.A.
- Phone: 972-243-2613
- Web:
- Category: Investment Brokers
Gulftex Operating, Inc -TBX Resources Sham, Scam, Flim/Flam Dallas Texas
*UPDATE Employee: THIS REPORT IS ABSOLUTELY INACCURATE AND INCOMPLETE
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As an ex-employee of this establishment I want to be sure to let any prospective investors know Gulftex is nothing more than a dressed up boiler room where AE's are a dime-a-dozen phone jockeys required to make over 100 calls daily off lists of potential high-dollar investors. To become an employee there they lure you in with visions of grandier and have a few "inside men" drving high-end vehicles and flauting the spoils of their success at taking money from investors on oil and gas projects with littel or no returns. As one of the phone jockeys I found out soon enough it was only my job to find potential, qualifed and interested investors, and then hand them off to the "inside men," so they could pay me on a single point of sale (maybe) while then taking over the investor for future upsells.
Sure they will rebutt and dismiss this post as just another disenchanted sales person who they would have fired anyway due to low revenue production who now wants to post something negative.
All I would ask the potential investor is; if the Barnett Shale and other projects they have are bringing in such high returns, why the need for 8-10 AE's making over 100 calls per day each, from required hours of 9a-6p or 7pm. Wouldn't any investor with a position (unit percentage) increase his or her position in this high-end dividend and increase their stake in the projects? Would not the current customer base purchase up the unit lots available for the particular project versus the need to call on 800 new potential investors per day?
I guess if as an investor you need a tax shelter and a capital loss to offset gains this may be just the investment you need. On the other hand if you are in this position to make money.....good luck!
Mike
Eatonville, Florida
U.S.A.
This report was posted on Ripoff Report on 09/23/2008 10:54 AM and is a permanent record located here: https://www.ripoffreport.com/reports/gulftex-operating-inc-tbx-resources/dallas-texas-75234/gulftex-operating-inc-tbx-resources-sham-scam-flimflam-dallas-texas-375357. 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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#1 UPDATE Employee
THIS REPORT IS ABSOLUTELY INACCURATE AND INCOMPLETE
AUTHOR: Mcampbell - (U.S.A.)
SUBMITTED: Monday, February 16, 2009
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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