Ritchie Waterflood unit
News about Ritchie Waterflood unit - Last updated September 27, 2019
|Payment of returns from projects offered by Texas Shallow Oil.
In this message we will inform those who have projects with this operator about how the payment of dividends will go from the projects.
1. Dividends will run separately from other oil companies where we have the administration, this is because this operator has some subcontractors who require payment by a certain deadline as a result before 10th of each new month.
2. This means that when we have vouchers and deposit in our dividend account at the end of each month, we make the final vouchers like all investors to see through the project news pages of the individual projects.
3. A complete PDF file is created containing a summary of all the projects that are with this operator, so it is easy to find the project (s) with the participant and see if there is positive or negative operating result for the current production month, this will also appear in the upper-right corner of each settlement document we have made.
4. When the settlement documents are ready, these will be posted under project news on all the projects, then an email will be sent out to everyone that these are now ready, and so you have to log in and look through them, as soon as our mail is received. If there is an operating deficit for one month, you must follow the instructions on the individual settlement document, all positive dividends will be paid through us at the end of the current month, as these are paid simultaneously with the other oil companies, so everything made in a working process when paid
Update on meeting between the 2 operators.
G&F Oil inc. (Gary) and Texas Shallow oil and gas LLC (Wayne), reviewed the individual fields on Thursday, March 26, 19.
Wayne told Gary about the different conditions that were on the projects and briefly reviewed what was going on out there by Wayne and what problems are p.
We spoke by phone with Gary here on Friday 27-9-19, where he stated that he would check up on the individual projects and their stand according to his assessment and what should be done to bring them to a stand where the sources can have stable production etc.
Gary stated that he should just spend some time gathering information about the individual sources and fields so that he can get an overview of what is to be done and the cost of this work.
He also needs to evaluate the geographical location of each project in relation to his current projects where he is an operator, one of the benefits was that he actually has a lease right next to our Ritchie # 1 & Ritchie waterflood unit and could see some good opportunities to creating synergy between these projects.
He also believed in a partner who also oversees sources in the area and they both felt that they could do something good with these two of our projects.
But Gary just needs a little time to put together a budget for the things to be fixed on the projects in general as well as his monthly costs to oversee things.
But overall positive feedback from him
Wayne called me late Friday. We are going to meet this week and look at everything. He is not opposed to me taking over but he did say you and your people owe him a lot of money for back expenses and he wants to get paid.
Then the deadline is reached and at the same time we have tried to contact Wayne and his wife via the telephone no. Which we have been able to find online on both persons, the same applies via mail, whats app.
So we must acknowledge that the man has gone into hiding and will not team up and enter into dialogue with us on behalf of the investors and their projects with Wayne as operator.
The next step is that through our contact person Gary Giles for G&F Oil, we are now exploring the possibilities of activating a lawyer and in the first instance writing a nice letter to Wayne about the things he does not live up to as an operator, and i.h.t. his contracts with all the customers.
When we find a lawyer who will look at our stuff, either on our own we already have one in mind, or via Gary who could help us in this area then we all notify via our direct mail system where will be stated where things have to be handled from there.
Patience has come to an end and it seems that we need to work harder, which we then put into practice.
More news will follow as soon as we have this ready
TEX OIL COMPANY
Now we have created the opportunity for you to retire as an operator on our projects, so we highly recommend you come out bushes and act like an adult and not play hide and seek and not respond to the countless emails whats app messages we sent to you, it can't pay, you can't hide ..
Well, for the matter we have through our old contacts got our old partner G&F Oil inc, who has more than 40 years of experience in the oil industry to say yes to take over the 4 projects we have with you.
But they have the following things to use from you immediately.
1. All wells data so he can see what the well looks like as well as logs etc.
2. He needs you to fill out the P4 form for the RRC with all wells, leases on it for operator change.
3. He must also see the lease and equipment out there so that he can get an overview of things, for that he must have a review of you or one of your employees who knows about the things.
It is important for all parties that you show yourself as a person who wants a proper end to things and you are the one who has the key, the ball is on your half now whether it should be done in the calm and easy way or the hard way that no one wants, but which all investors are ready for if this is not solved easily and without problems so that the investors lease does not endanger the 90 day rules, which you are the only one who knows when is and can prevent and they will Definitely hold yourself accountable for if that happens, now that you have a unique opportunity to withdraw without much effort from you.
So we expect answers from you no later than Monday morning at 8:00 am your time, whether you want to accept this offer so that we can all get on with what was really the plan for making money on oil sales.
We look forward to receiving your response, so that all investors know how to deal with things next week whether it should be easy for everyone or with a lawyer etc. which you know is probably not in your favor when looking at contracts and dialogue, documentation through etc.
Contact details for Gary Giles. at G&F Oil inc.
So let's solve this the easy way, but the choice is yours if we don’t hear from you be deadline Monday its considered as a NO to this solution and things will be put into motion…….
TEX OIL COMPANY & INVESTORS
18-9-19 - Latest news regarding operator status
We have been in dialogue with Wayne about his role as operator on our projects and have expressed our dissatisfaction with the way he works, as well as communicating back to us and our customers.
The good news is that he has stated that he would like to step down as operator on all the projects. we have therefore contacted an old and stable partner G&F Oil inc. Which is located approx. 1.5 hours drive from our projects, Gary who owns the company is checking up on the possibility of taking over from Wayne.
We expect a feedback by Monday next week.
More news will follow as soon as we have this
Sincerely. TEX OIL COMPANY
Aarhus-Denmark, 29-8-2019 at 20.36
Important update about our Texas Shallow Oil operator, owned by Wayne Woldrige
We write this message to anyone who owns this operator, some of our major co-owners have expressed some skepticism about Wayne's ability to achieve the best results on our projects.
There have been several episodes with extra payments in addition to normal operations, this at several of the plants that Wayne manages for us, and has found for us over time.
Today, together with the investors who have expressed skepticism about Wayne's way of running the projects, we asked him to choose whether to go along or we had to come up with a solution around the job as operator.
We are awaiting his response on these matters, and he has been made aware that he will be reported to the relevant agnecies if he does not take action.
Our projects should not suffer from his incompetence, because we believe that the projects are healthy and viable but that it requires the right man for the task, which unfortunately leaves us waiting for Wayne and his team.
We await Wayne's response to these demands we have made, and based on that, we will respond appropriately.
There will be more news as soon as we have this, everything will be posted under project news.
We regret the development of things, but we must take care of your projects and provide the best possible operator to take care of them.
TEX OIL COMPANY
At this time first payout from this project is planned for the month of September.
Ritchie Waterflood Unit - First load of oil ready for sale
Good news from our operator, they have ordered the pick-up of our first load of crude oil to be sold from this project, the operator receives the money from the sale at the end of August, so the planned payment will be settled via the September payouts to the investor.
3 of 5 well still producing, still waiting on electrical company to come out and fix broken box, to get the other 2 online. At this point we got 95 BBL in the tank, things are looking good. more updates to come as we get them in...
Well no. 7 is now online, this is the 5th well out of 6...Getting close to a 100 % succes rate.. watch the video.
4th well is now online Ritchie#9 is flowing fluids..
Ritchie Waterflood project - Ritchie#17 well pumping oil with a 90 procent oil cut, almost no water, until now we 100 % succes rate with these wells, Great job to our TEAM out there.
Working on the 3 wells as we speak.
Changing out old tubing
Cleaning out well
New tested 7K tubing, and down hole pump
First well is being flow tested as we speak, the second well is having the tubing pulled and tested.
The project is currently undergoing the funding process of workover funds, at this point we have sold 22 % of the42 % NRI for sale.
The operator plans to start the workover of the wells early November 2018.
TEXAS SHALLOW OIL & GAS LLC
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