Terence C.
Level 4: Experienced VoiceReviews by Terence C.
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Not exactly a gushing success....
While my investment in the Black Gold IV fund hasn't been a complete bust - it has certainly been extremely disappointing. The best return so far was the tax credit I got. Beyond that, things have been slow and underperforming. The wells were supposed to be completed within 1 year of funding, but I am still waiting for all of them. It took over a year to get the first well drilled, and then there was nothing for an extended period. The second well just started production almost 2 years after funding. And I am still waiting for the final drilling to complete. Communication has been poor / sporadic with limited information being presented as part of the newsletter updates. There has been no webinars and little proactive communication about the delays. In addition returns from the wells have been well under projections. Some of this is due to low oil prices, but looking at a 10yr+ payback time on an O&G investment is well below what I would expect.
Does everything they say they will
I have been invested with CVC for 7 years now - first through a fund of funds, and now directly. I have been extremely impressed with how the team is able to find opportunities even in a challenging market. More importantly, however, the team has fantastic communication systems in place. I get regular updates on what is happening with their portfolio and the potential impact on my investments. It has been wonderful to have an investment I can count on and that provides consistent returns.
Income fund is a fantastic source of cash flow
I want to be clear that for the stars, I am considering only the Aspen Income Fund - not any of the other offerings provided by this company. If you are considering other offerings by this team, I don't know that this review is relevant to you. I believe the income fund is a top quality investment and have been pleased to have been part of it since 2020. During that time I have received consistent distributions in line with projections. Every month, I get the distributions deposited as expected into my account. Never had a hiccup or a delayed distribution with this fund.
Excellent sponsor, great communicator
My first investment with Wellings was in 2019, as part of their Income Fund. I am currently invested in 4 of their funds and am looking forward to their next offering. Paul Moore and his team are, in my mind, exemplar GPs. They have a clear investment thesis, work with strong operators, and are actually conservative in the deals they invest in (as opposed to just saying they are conservative). Despite all of the challenges over the past 6 years, dividend distributions have never paused or decreased. Most importantly, Paul has constantly communicated with his investors. I get regular quarterly updates, he hosts regular webinars, and he or Ben is always available to talk if I have a burning question. He truly cares about his investors and it shows in how the business is run. If his funds align with your investment thesis, I would strongly suggest you take a look at his current offering.