Russ
Lost 100's of thousands of Dollars
Lost 100's of thousands of Dollars - Updated 2026-01-09 Started investing in this company in 2022 If I had invested my money in securities at 10%, I would have had $801,350.42 in my account instead of a well-bore assignment that is worth zero or next to it, and I would only have received a little over $42,277 in cash so far. Run the numbers, and you will see how bad it is to invest in oil wells. Notice that none of the reviews give you actual numbers, so you can compare my experience to their "great" experiences and make your own evaluation. If I were starting over and knew what I know now, I would have asked for operating statements from his projects over the last five years. As of December 2024, these are the investments in SoFi Offerings: 3 Hills - Invested $100,000 in February, March, and April 2023 - Received zero - Dry Hole Lost $100,000 Nacatoch - Invested $22,500 on 5-5-2023 and $17,500 on 11/11/2023 - Dry Hole, Lost $40,000 Car III - Invested $50,000 in January 2023, Received $1,425, $23 since Sept 2024, they did what is called a cash call to rework the well, who knows if we will see any more money. Duke - Invested $122,302 in August and September 2022 - Received to date $4,711; the well had a few good months, and then the production fell to its lowest, and I will not receive my investment back in my lifetime, No money since Oct 2024 Fox - Invested $45,000 in two wells on 10/31/2022 - Received to date $32, no income since December 2023. Dry hole, lost $44,968 Newby - Invested $40,000 in December 2022 Received $14,810. Presley - Invested $261,000 in October 2022 - May 2023 - Received $3,954. Another dry hole. I have invested $663,303 and received a little over $42,713 so far; you do the math and decide if these types of investments are good for you. I am very disappointed with the overpromising and underdelivering. I started with SoFi Exploration in 2022; first, I agree with some of the comments about communication. They communicate a lot to get you to buy. It's just the returns are not there. My sole intent is for more people not to lose hard-earned money with expectations and never see their investment materialize. I have invested over $660,000 and have very little to show for it. At one point, I told the owner he talks like a used car salesman. I should have stopped at that point. At this time, I do not expect any return on the initial investment, let alone any profit. Once I posted this review, the owner solicited others, which is great; let me comment about them. Two of them, I know what wells they invested in, and they are not getting the returns they should be. Three are employees and should say good things. Another is an operator responsible for drilling the wells, and that is who you get paid from. Naturally, he wants more business and would not say anything negatively. Another talks about how they are on time with their payments, sending documents, and helping with tax questions. They do not send any payments; they come from the operator and are not qualified to answer any tax questions that only come from a CPA. Unfortunately, oil well production decreases faster than one would expect. SoFi may tell you that there are wells pumping oil after 50 years, implying that you may receive money for a long time. That may be true, but pumping one barrel daily will not give anyone a return on their investment. You can type “decline curve of an oil well” and see how quickly they drop off. Reviews: Marc Andrews, he says nothing about investing with So-FI or what his returns are. You be the judge Rodney Dixon: I agree with everything he says, lets see what he says in a couple of years Tristan McKinney: Employee, is always going to say good things.