Invested in a Oil partnership named Blackrock Gammon with a company named Blackrock Energy. The salesman, Michael Bell, sold me a! /2 unit for approximately $43, 000.00. I had previously purchase a 1/2 interest in another oil partner from Mr. Bell, Named Team Resources for a like amount a couple of months prior to investing in Blackrock Gammon. The partnerships are run and managed by a company name Fossil Energy whose CEO is Kevin Boyles. The “company” is located in Ventura, Ca. I assumed Mr Bell lived and worked in Ventura and was a salesman for Fossil Energy, which represented both of the investments. I would later find out this was not true. The way it was suppose to work is initial investment would be used to purchase new methods of extracting oil from existing wells at a cheaper price and pay monthly income based on the amount of oil produced and the number of units owned. After a couple of years the wells would be sold to a bigger company for a profit, which would be divided up according to owned units.
About three (3) months ito the secpond investment (Blackrock) I received a telephone call from Michael Bell offering me a “no-brainer”, as he put it, to loan the partnership 50k for one (1) year with a interest rate of 18%. The note would be secured by the account receivables of the partnership. The money would be used to speed up the new drilling methods and get the well flowing sooner.By this time I was already receiving good checks from the 1st investment, Total Resources. Based on this fact I decided to go through with the loan note. For the 1st two (2) months after executing the note I received my monthly interest payments of $750.00. When I did not receive the 3rd payment in May of this year I called Michael Bell. He called me me and stated he not longer worked for the company and was owed a lot of money insalary and commissions. Iasked him about my investment and he said it would be OK and should receive a phone call from a person named Phil Dressner in a couple of weeks. Long story short….that never happened. In the meantime a tried calling Blackrock energy and asked for the President, Robert Collings. I was always told he was busy and would call back. He never did. During this process I discover that Blackrock Energy Group was located i Hallendale, Fl, Not Ventura, Ca. like I was led to believe and that Blackrock Energy Group was a marketing firm for Fossil Energy. I also learned that my initial investment had been forwarded to Fossil, but, Fossil had no knowledge of the $50k note, so Mr. Boyles said. In the meantime I was contacted by Phil Dressner who said he had worked for Blackrock Energy group and was going to assume responsibility for the $50k nots (s) (Mr. Dressner indicated their were five or more investors who had loaned Blackrock money). I have received a note from Mr. Dressner saying he would be responsibile for the note, but, it is just a signed piece of paper and has no value. I am trying to locate the others who were scammed by Blackrock so we can discuss how to proceed.
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