I am looking for any other investors who may have paid money to Dennis Stutes for an oil investment in the Bakken wells in North Dakota. Please contact me at the email listed above or responding to this post. Several months ago a friend and I invested a significant amount of money with Mr. Stutes in Oil and Gas Cutting Edge Technologies. This was to be for investments in oil wells in the hot area in North Dakota called the Bakken. I had read a lot about the area and my friend had spoken to one investor of Mr. Stutes who said he had good returns. I knew my friend to be cautious with his money, but obviously should have done more homework. I did read the materials and spoke once to Mr. Stutes. He sounded very experienced in oil investments and the returns sounded great. He said the opportunity was only open for a very brief period "because the operators want these interest themselves and this opportunity only comes open once in awhile". I invested $50,000 and my friend invested $40,000.
Both of us became suspicious because we are supposed to get reports by June showing the wells where our money was invested, and how much oil was being produced. After many, many calls by myself and by my friend, we still received nothing except excuses that "I am waiting on information from the operator", and things like "Be assurred the North Dakota oil commission records show the wells are producing nicely". Finally we concluded we were just getting BS from Mr. Stutes. We then did some online research (at my wife's suggestion) and felt sick when we learned he had been banned from doing this work by the securities authorities in some states, and had big penalties imposed, lawsuits pending, and so forth. We knew we had been conned at that point.
It is now coming on mid July and still no reports, documents, anything from Mr. Stutes except telephone assurances that "everything is going well". I spoke to my attorney and he asked for Mr. Stutes address, and suggested that I located others who had been conned. The address is for some reason in Oklahoma although his phone area code I learned is in California, and some of the web information gives his address on Pamlar Ave in San Jose. But his website www.oilandgasinvesting.com has no address on it! That should have been a warning for me.
So people, don't get greedy at the expense of yourself, you will lose like I did. If anyone is reading this who is interested in joining me in pursuing Mr. Stutes, please get back with me asap. Thank you.
0 comments