Bass Energy & Exploration

I Invested with Bass Energy in the Vicar Project in Oct 2023, over the next year minimal communications was provided. I had to reach out to get most of the updates, in Oct 2024 Bass was still in the raising funds stage and had not started drilling, at this time I decided to request my initial investment back. I requested my initial capital back 3 times from the owner and VP with no response, I didn't hear back from the VP until Jan 2025. The VP (Preston Bass) explained that refunds are not issued back once the contract is signed and if he would give me a refund he would charge me 400% interest until all the other investors were fully reimbursed for covering my portion. I agreed that refunds were not typically returned after the contract was signed and drilling started but in this case Bass was still raise money and I've been patient for over a year. I said that the 400% interest didn't sound right and I would seek legal advice to go over my options as an investor, I also explained that I had other investment opportunities and that my initial capital would be vital since Bass was not able to raise all the funds needed to start drilling. In March 2025 I received an email that I would get my initial capital refunded, Bass held on to my initial investment for 1 year and 5 months with zero interest. My money would have been better off in a regular saving account, it would have made a better return than what Bass provided. After this experience I have not done any other oil deals with small operators, the next 5 deals have only been with big operators that do not depend on my capital to start drilling, and start distributions within 6 months of closing the fund.