Historic failure tries it again – John Wells and SOEC are pushing leases with another paper company. Help research Vortex Energy LLC
According to Landowners in Washington County, this past Saturday John Wells and Southern Ohio Energy Consultants (SOEC) had intended to have a meeting for a “select” group of landowners in Beverly, Ohio. People at the door required landowners to show their invitation and their ID to get in. A large crowd of other landowners who were part of the DUX deal but were not in the “select” group of landowners were turned away until they found another way in. Needless to say it was a tense start to the meeting.
Three representatives of Vortex Energy LLC were introduced. They acknowledged that Vortex was a new company incorporated in Delaware. The lease is for $4,000 / acre and 18%. The business address is 222 Pennbright, Suite 155, Houston, Texas 77090.
The lease signing is scheduled for this Friday – Sunday, July 25 – 27. This is just before landowners commitments to SOEC expire at the end of July. Landowners in Washington County need your help and quickly. Please help research Vortex Energy LLC and post what you find.
Here is a start. According to the Delaware Secretary of State, Vortex Energy LLC was formed one month ago on 6/21/13 and has a Registered Agent – Harvard Business Services.
Further research reveals that Harvard Business Services is a company that provides an inexpensive, online way of creating a Delaware LLC or corporation in very little time. Their website is: https://www.delawareinc.com/?crtag=google&gclid=CIPM5d_ZxrgCFdF...
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Replies to This Discussion
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Permalink Reply by 0i7okn54zwbdo on
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My guess is that Vortex has private equity or fund backing and is obviously playing the arbitrage between $4,000/acre and whatever they think they get get on the market.
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Permalink Reply by Samuel J. Orr on
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My guess is that this is another shell company with few if any assets, and no ability to pay leases unless it is able to flip them for more money. Folks in Ohio need to demand that their local media cover the DUX story and expose what Attorney Wells and SOEC are attempting with Vortex. The Vortex operation is likely a carbon copy of the DUX fiasco. One might as well sign a lease in favor of Mickey Mouse or Donald Duck! (Marcus Grayson, I can't imagine why you would think Vortex would have private equity or fund backing, or be any more reputable than DUX?? Amazing!)
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I never said they were more reputable than anyone. There's just a massive influx of recently-formed companies that are dying to get in to the play--with private backing--just to make a buck on the flip. Because of the reputation of many of these shell companies someone like Vortex would almost have to step in with real, actual money (and proof of funds) if they wanted to get any landowners to their meetings, let alone to sign a deal with them.
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Permalink Reply by Samuel J. Orr on
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You would think so Marcus but DUX was promoted by Wells and SEOC and had nothing! Looks like the landowners in Washington County could bite on a similar rotten apple. It is the structure of the deal that is suspicious. A shell company really needs no capital. It obtains a lot of leases, ties up the land for up to 6 months and if successful makes a ton of money on the flip. The shell company needs very little in the way of capital to shop a bunch of leases. Because the shell company has no assets, it does not fear being sued, because it has no money. Again why else would John Wells and SOEC encourage landowners to sign with an entity like Vortex after the DUX fiasco? By the way you might wish to google Jeremy Gaul who is apparently one of the principals in SOEC. SOEC stands for Southeast Ohio Energy Consultants. By doing this I was able to pull up SOEC's website. That website indicates that SOEC works to obtain excellent O&G leases for landowners. This is somewhat inconsistent with attempting to get landowners to sign leases in favor of Vortex, Dux, or any similar shell company. I believe that SOEC's business purpose is to obtain a number of leases in favor of Vortex, help Vortex to flip the leases, and then after paying the bonus money to landowners under the leases signed by the landowners in favor of Vortex, split the remaining proceeds of the flip. If you can conceive of any legitimate reason why Wells and SOEC operate in this manner, I am anxious to be enlightened.
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"If you can conceive of any legitimate reason why Wells and SOEC operate in this manner, I am anxious to be enlightened. "
Bags of money for themselves? That's my guess.
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Permalink Reply by Samuel J. Orr on
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It would be one thing if they Vortex took 2 weeks to check the title and if the title was good, then Vortex immediately paid the bonus money. It would not be great but it would be a whole lot better than this obvious flim-flam of the landowners. With this DUX type deal, landowners sign a lease with Vortex who has no money. Vortex has no risk at all but gains plenty if natural gas prices go up and they are able to flip the lease for .more money, perhaps a lot more money. So the landowner ties up his land for 6 months and If Shell or Chevron, or Antero or Gulfport approach the landowner during this 6 month period with an offer of $6000, the poor landowner can't accept the offer. Vortex can assign its lease of landowners' property to whatever big O&G company for $6000 per acre, pay the landowner $4050 per acre and keep the difference of $1950 per acre, less of course the amount it shares with SEOC and John Wells who are the other principals in this scheme to rip off honest hard-working landowners.. Is there anyone reading this who does not understand what is going on??
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Permalink Reply by Seeker on
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Utilizing multiple telephone search services reveals that Vortex Energy LLC has no telephone number in Texas.
Unbelievable!. This is just like DUX Petroleum LLC which also had no telephone number in Texas.
Where do John Wells and SOEC find these people?
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Permalink Reply by Samuel J. Orr on
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Attorney Wells, SOEC, and Vortex need to be exposed for what they are. Were I a resident of Ohio, I would first talk to my family lawyer. I would also ask him what state or federal agencies if any should be notified. I am of the opinion that even in the absence of criminal activity, there may be civil statutes both state and federal that might be invoked. Those questions are for the lawyers. I really believe that the more publicity that can be generated the better. I hope those of you who live in Ohio can figure out a way to get this covered extensively by the media. Extensive media coverage might squash this latest scheme before it gets off the ground. There may or may not be an office in the state of Ohio that deals with attorney misconduct. In Pennsylvania, there is a disciplinary board that deals with attorney misconduct of various kinds.
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Permalink Reply by Jason on
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https://www.ohiobar.org/Pages/Home.aspx
A realitive of mine is head of the WV Bar - this is the homepage of the Ohio Bar Association. It's a good place to start researching attorney misconduct.
Best of Luck Ohio Landowners.
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Permalink Reply by Landowner1 on
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In an earlier posting (now deleted) Bob made the following suggestions:
You could check and see if these entities is still at that address
Advanced Fabric Technology
Gulf Stream Fabrication LLC
222 Pennbright Dr Ste 155
Houston, TX 77090Maybe you could hire this lawyer to do some checking for you if she is still in the same building.
Christine K. Jonte
222 Pennbright Dr Ste 100
Houston, TX 77090-5907
Like Bob, our searches indicated that there is no company by the name of Vortex Energy LLC at that address.
The searches show that the company at that address is
Gulfstream Fabrication LLC http://www.merchantcircle.com/business/Gulf.Stream.Fabrication.LLC.....The City of Houston Strategic Purchasing website also lists the company at that address as Gulfstream Fabrication LLC http://purchasing.houstontx.gov/Vendor_CCodeSearch.aspx?company=34162
Gulfstream Fabrication is now Advanced Fabric Technologies, and is still located at that address http://www.advancedfabrictechnologies.org/index-7.html)We called Advanced Fabric Technology / Gulf Stream Fabrication
The person who answered the phone confirmed that their address is 222 Pennbright Dr., Suite 155, Houston, Texas 77090.
They had never heard of Vortex Energy LLC.
It appears that Vortex Energy LLC does not even have its own office and is using a contact’s office address as their mailing address!
At least DUX Petroleum LLC had a real physical address, even thought it was a single family house.
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Permalink Reply by Landowner1 on
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Bob, unfortunately, no one thought to write down the names of the three Vortex representatives. If anyone on GMS remembers any of their names, please post them.
According to the Delaware Secretary of State the incorporation papers are not required to list the names of the incorporators or the officers of the LLC. The signature line on the incorporation papers can be signed by the Registered Agent and given that Vortex used a cheap online service, Harvard Business Services, that is likely to be who signed it. Copies of the filing papers are not available online. The address on the papers is the address of Harvard Business Services. Secrecy is one reason why companies are formed in Delaware.
The following is the link to the Delaware Secretary of State entity search: https://delecorp.delaware.gov/tin/GINameSearch.jsp
Enter Vortex Energy LLC in the search box, then click on Vortex Energy LLC on the next page to view the file.
I agree completely with your point:
“If they really have the funds, make them post a surety backed payment bond or irrevocable bank letter of credit for the entire amount of acreage signed up to a lease with no way to avoid paying if the landowner has clear title to the oil and gas.”
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Permalink Reply by WLW on
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To: Landowner1 & his Pal Sam
What the ^^&**& is your beef? I have not meet one person in our area that cares to hear your daily babble of bull crap. Did you lose the big case, and have to take it out on everyone else to make you feel better?
I'm sure glad the people in Ohio, don't act like you two.
Grow up and get a life, and stay out of ours. Your guys whining is getting old fast, and if you haven't figured it out yet-------- NO ONE DOWN HERE IS LISTENING TO YOU!!!!
Have a great day if its possible in your little world..................
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