Dr. Kent Moors Money Map 1 investment in 25 oil wells.Does anyone have any idea how well the first investors did on this investment. It seems it was a minimum of $15,000 per unit
He is now offering Money Map 2 investment. Don’t know what the cost is but he is projecting a quick return of your investment.
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The well that Dr Moors talks about in the first “Map 1” is described as Willard Unit #1H. That well is owned by Silver Tusk Oil Company (http://silvertuskoil.com). Their facebook page is (https://www.facebook.com/silvertuskoil). This company allows persons to become direct partners and invest. So, if you are interested, I would contact this company directly about returns.
Thank You Stephen. Great information since Kent wants $5000 up front for a basket of wells. I figure at $5000 from each of 2600+ investors he would pull in appox. thirteen million dollars. That would be nice for him. That is why I wondered if anyone had invested with him and what their return was. Have you invested with Silver Tusk and if so could you tell me a little more about how they operate? Is their program similar to Kents?
Thanks again for your input.
No. I haven’t invested. Started digging when I saw the article. I’m thinking that Dr Moors is just frontrunning for Silver Tusk since Dr Moors mentions the well name that is actually owned by Silver Tusk.
Does anyone have any personal return data from Money Map Project #1? Did you ever get any independent feedback about the success of Money Map #1?
I was going to talk to a friends father who has been investing in MLP’s in oil and gas for over 40 years to see what his comments were. He has made a huge amount of money.
I just found out yesterday that he had passed away. He would have been a good source of information. I believe he was a geologist and had worked in the industry.
I have a friends husband who runs investments for wealthy individuals. I don’t know if he might have some insight into this particular project or knows someone who could give some insight into this particular group of individuals who are doing this start up drilling. Thank you Steven for the information on direct investment into the company.
I am still digging.
I haven’t found any info about Money map 1 actual returns to investors but just the information that they have sold the first production from the well to an oil company so I don’t know if they go out on bid to sell their oil or if they have commitments in place.
Money map two claims you will have your initial investment back in one year.
Stephen did you get the investor packet from the SilverTusk? If so could you comment?
No. I didn’t get any documents from Silver Tusk. Apparently, Silver Tusk has Paul R. Fenemore has manager.
http://www.formds.com/filings/search?search=Silver+Tusk
Paul R. Fenemore is also involved with several other similar partnerships:
http://www.formds.com/filings/search?search=Paul+Fenemore
Maybe this multiple different “partnerships” with the same address or name associated with it is normal.
I think I will pass on this. If you follow up with Silver Tusk, let me know what you find.
I just came accross this conversation. I was born and raised in the oil and gas business and still participate in it with a brother who has had a lengthly career in Oil and Gas. To answer a few questions:
1) You don’t need committments to sell oil to refineries. If you are a legitimate operator, the oil company will transport your oil for you and pay you the current “spot” price. 99% of oil discovered by independent oil producers is sold this way. assuming that you have good quality oil, generally, just look up the WTI price on the day that you sell the oil and thats what you’ll be paid.
2) It is very common to have one oil and gas producer in several partnerships.
3) I don’t know Moors and have never heard of Silver Tusk but my guess is that Moors is simply marketing the opportunity for Silver Tusk. In most cases, the operator of the oil deal get a “carried” interest or said a different way, an interest for no cash contribution. He usually has had to spend a good deal in acquiring or developing the actual deal though. My guess is that Moor is either being paid a commission or consulting fee and possibly part of the carried interest for raising the money through his blogs, newsletters, email campaigns, etc. Nothing necessarily wrong with that, but it might add marginally to the cost.
whats the company that Money map project 2 is buying into?
Dr. Moors Money Map Project is offered as a screening of well investment opportunities. Each opportunity is evaluated for 10 key features, if they meet Dr. Moors requirements a project is mapped out and sold to subscribers, generally at 12,500 per unit. I purchased in project 1. The progress has been MUCH slower than advertised. In the first project Dr Moors estimated we would have our investment repaid in 6 months. Nine months in and the return so far has only been about 10% of our original investment.
Big part of the problem has been getting rigs to drill wells. Oil prices certainly aren’t helping at all.
Would I recommend spending the 5K? I’m seriously considering not renewing my membership.
Money Map Project One violated ALL TEN of the Mr. Moors’ purported 10 requirements for investing. The pap in his marketing nowhere is backed up in the PP documents.
The documents, if you bother to actually read them are very transparent. It is quite clear that if you invest, they will take all your money and might some day give some of it back to you. To start with they will take 25% of your money and put it in their pocket as a direct unaccountable payment. Then they will take another 12.5% of your money to pay themselves $850/acre for land they bought at $500/acre for a previous project that went bust. Oh and Wells 16-25 of the wells you were buying? Well they aren’t covered by your initial investment – those wells are going to be paid for by the revenues from the first 15 wells (if all goes well). And by the way – everyone else involved (Silver Tusk) is shouldering no risk whatsoever because the risk is all on you the investor, with whose money everyone else first and foremost is being kept 100% whole. This program could drill nothing but dry holes and the Managing Partner and its affiliates would walk away with $9 million, plus reimbursement for all management costs, plus $4.5 million for leases they currently own for a failed property leftover from a prior failed project, plus all costs and profit for drilling nothing but dry holes. Historically they on average have returned approx 15% if invested capital back to investors (Not Profit but invested capital) – and have run at just under a 50% dry hole rate. This is all in the documents. Moreover – it is explicitly stated in the documents that any investment made is based only on the basis of those documents and that they were responsible for no other representations made about the investment. Oh and by the way, their geologist’s report is not to be relied on by you for investment purposes – you should hire your own independent geologist before investing, etc. etc. etc. Silver Tusk et al are bulletproof. They told you exactly what was going to happen – in writing – and if you invested you signed off on it. Moors and MoneyMap are the only ones on the hook for false representation. There was no way in hell the project was EVER going to perform as they represented. You might be able to get your $5,000 back, but as to your actual investment, if you invested you signed off that you had read the prospectus and the reality of the investment was laid out chapter and verse in that document. The operators have only managed to repay capitalization costs on two wells – EVER and both of those wells were drilled prior to to 2009. Their total repayment on all of their projects as presented in their own documents is about 15%. That’s not profit – that’s repayment of invested capital total over the life of all their projects.
We paid the $5,000, read the docs, and sent him a letter saying they must have sent us the exemplar for what not to invest in by mistake and asked that they either send us the documents for the project that actually meets all 10 of his stated criteria, or in the alternative send us back the $5,000. They sent us our money back.
Thank you for your comment. I am glad I didn’t invest my hard earned money.
Can’t find Rigs for drilling? That is interesting
I am an investor in Project 1 & 2. Dr. Moors has an impeccable reputation in the oil & gas business. I have over 30 years experience in the oil & gas business both as a driller and investor. I have received $322 from Project #1 and $26 from Project #2 to date (11/26/2014). I have sent numerous emails and letters to Dr. Moors, Money Map Projects and Money Map Press and have never (I mean NEVER) received a response. I believe that Project 1 “Killed” their first well which could have been a screamer. Of course, this is based on the very limited data I have because no one will respond to my correspondence. It is true that they have trouble getting rigs for new drilling but so does everyone else. It is just too expensive to own your own unless you can keep them busy 100% of the time. Maybe a little additional planning by the drillers could have alleviated this issue. True the price of oil is down. I believe those producing wells that are in these 2 projects are being “choked” down to restrict flow while waiting for oil to rebound. Updates on these projects also seemed to come to a halt recently. I own one unit in each of Project 1 & 2. Best of luck!
Thank all of you for your comments, wisdom and experience. I have tried to find out more but can find very little about his past results. I appreciate all the comments.
Maybe it was a good idea but he has no control over the real operators and they run their own show totally. He is just a salesmen and gets money for his newsletter to put in his pocket. I know there are honest operators but I am beginning to wonder about how honest this one is. Maybe he was taken in by the oil company.
I had a friend who invested in one oil well years ago. I asked him how he knew which oil well he was getting. What if the oil well hit and they then told him that his money went into one that didn’t produce. He had no answer and lost all of his money. That’s why a basket of wells sounded good, I didn’t get the investor packet so I don’t know if you could actually pinpoint where your oil wells were. I would think he would not want to ruin his reputation by not communicating with his investors. These blogs are how everyday people get good information from people who know.
Thanks
I think the whole thing was a scam. Moors pitch leads you to believe you’d get your investment back in 9 months or so. I’ve been in project #1 and #2 since the beginning and have received maybe 2% so far.(to July 2015.)
If I had bought bad stocks at least I could have sold them. These units can’t be sold. Imagine, putting investors into this trap just to get a $5000. fee? The damage to the investor much greater than the fee they get. It’s like the vandals who do thousands in
damage to get $50. in scrap copper.
lost $37,000.00. got a return of $2,000.00. Where do you turn people like this in?????
My comment was negative, probably why it isn’t showing. I was ripped off $37 thousand dollars. That is a lot of money. Since 2014 I have received $2000.oo, that is just two thousand back for my thirty-seven thousand dollar investment on projects #1. Maddening!