I worked for Core Exploration Inc. For 3 weeks. During this time I experienced greed at the highest levels.instead of running a legitimate oil and gas company, they run a telemarketing operation designed to appear to be an oil and gas company to investors who are ignorant enough to send 25 to 100 thousand dollar checks to them.
FYI potential investors (aka suckers) - 5% of your investment goes to the cold caller who calls with a scripted message and speaks to you initially. 15% of your investment goes to the person who follows up and closes the investment and 50% goes to the Mercedes driving, Rolex wearing executives who run this operation. This is not disclosed to the investors for obvious reasons.
Jeremy Yowell and Patrick Campbell are the real money makers. Everyone else is just a pawn being used to secure their retirement in Costa Rica.
They will drill the oil wells, use a fraction of your investment dollars to drill and simply declare a dry hole. You may receive a few revenue checks. I am almost positive that revenue checks simply consist of other investors money. I did not see or hear of any wells that actually produced? Investors - beware do not be a victim of the multi million dollar scam!!!
The Department of Labor and the IRS will be speaking to them soon about the difference between 1099 and W-2 - contractors/employees.
They have all the benefits of running a boiler room with very strict rules, but do not pay Federal Income Tax, Social Security Tax or Medicare for their supposed employees. Employees/contractors like the tax free money and the 5% - 15% of your investment dollar so they rarely complain. Most of the "cold callers" are dope addicts and alcoholics, they feel lucky to just get a check. Management likes having weak, financially unstable people working for them. Otherwise their perfect crime might be detected by intelligent, ethical employees/contractors and they may question their business management ethics.
The President of Core Exploration is Patrick Campbell. He is the typical gold chain wearing sleaze ball you would picture running an oil and gas scam. He is very good at what he does under the veil of a legitimate oil and gas company. He can talk people out of thousands of dollars simply by speaking to them over the phone and enjoys fanning himself with the checks naive investors send in.
Jeremy Yowell of Yowell Marketing/Core Drilling is his partner in this scam. Jeremy is highly intelligent and is convinced that what he is doing is a legal business and is very, very sharp over the phone. He will let you know there is risk involved in your oil investment, but at the same time convince you there is no risk whatsoever. He is young and is a textbook example of an ego-feed personality.
The number of investors that are duped is amazing. People who have worked hard for their money are pissing it away on greed, vacations, drugs, alcohol, prostitutes, and fancy cars all for people who they have never meet face to face.
Now that there company is being exposed - beware - they will pop up under a different name, performing the same oil and gas scam about oil wells in West Texas. They can't change their names as easily though. So always be on the look out for Patrick Campbell, Jeremy Yowell and the VP that blindly follows them into federal prison - Richard Partin.
I encourage management at Core Exploration to simply Google your companies name. You reap what you sow.
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