Hello,
I`m a german investor who took part in an joint venture, leaded by a company called "Southern Pacific Exploration Company" SPXCO. Managing Director Joe S. Foster.
Does anyone have some actual information about this company?
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This week i got some messages to this topic.
My final conclusion is, that there seems not everything is going the way it should.
Can anybody confirm this?
Ralf,
I have also heard about two projects that Joe S. Foster as President of SPXCO Southern Pacific Exploration Company offered to participate in.
I don’t know if they were finally conducted but I know that Crown Gas L.P. and PAC Production Company were stated as joint venture partners. Maybe you contact them to get some info.
Regards
Hofman,
I just did some basic research to help my German friends and I found out that the Address of Southern Pacific Exploration Company, which is stated as 14781 Memorial Drive, Suite 2212, Houston Texas 77079 is actually just a Post Office.
There is nothing wrong to have a PO box but a Company that claims to have serious business (www.alibaba.com where they state to have 5-10 Employees and a Total Annual Sales volume of 2.5 to 5 million US Dollar) I find it somewhat strange not to find a physical address somewhere on their homepage.
Contact the local court house and find out who is currently holding the lease.
Regards
Thanx for the tip.
I did.
I also contacted the other participants. I hope they will answer me, to get some more information.
Some new informations.
It seems that no one, involved in the "Tucumcari Basin" projects, heard from Joe S. Foster more than half a year before he collected our funds.
Other participants likely seem to have the same problems. There is no answer on any letter, mail or text message.
Are there other projects of SPXCO running at the moment?
Mr. Hofmann,
Do you know if other participants have the same problem getting their money back?
Usually "operating escrow accounts" are used when funding these kind of oil and gas projects.
Do you know if Mr. Foster and his SPXCO had such an account set up for the project at the Tucumcari Basin?
Regards
Mr. Hofmann.
can you provide us an update about the situation with Mr. Foster and SPXCO, Southern Exploration Company?
Thanks and Regards
@wuestenfuchs
Until now, there is no cash flow back. Mr. Foster seems to be like fallen off the face of the earth. Just his website spxco.com seems to be updated regularly as you can see on the bottom of the page:
No, i think Joe S. Foster / SPXCO didn`t have an "operating escrow account".
During the last month we got in contact with numerous people and two lawyers. Some of them assumed, that we were victims of a f***d.
Next week we will contact some authorities specialized on those kind of things.