My career in the oil & gas industry began in 1983 while I was an account executive with Merrill Lynch in Los Angeles, and later with E.F. Hutton in La Jolla, California. I researched everything these large financial firms had to offer in their portfolio’s of oil & gas investments, including looking at their various projects targeting production, developmental, and exploratory oil & gas investment deals being offered throughout the US by various operators. I didn’t like the major brokerage up-front promote of 25% and still feel the big houses, and nearly all promoters, and ‘boiler room sales organizations’ are way too far away from the action in the field. They simply cannot take the time to provide adequate hands-on oversight, nor do they have the technical experience required to insure ‘Operators’ are competent to accomplish what’s expected when raising capital, and investing in the industry. I left the big houses in 1984, and continued to research everything I could get my hands-on about oil & gas investments while working in several different capacities in the industry until the present. My family has been in the business for over 50 years, and this includes family members serving at the executive, and management level with Standard Oil of California, in the field, and having engineers in the industry in California, and Louisiana, etc.
My experience during the past 29 consecutive years while working exclusively in the oil & gas industry has included; sales & marketing, managing several oil & gas partnerships as a fund manager, being a sponsor & issuer, operating oil & gas properties, and doing due diligence for other individuals and companies wanting to learn more about the industry. Most of my private placement offerings, and joint venture partnerships & now Fund opportunities have been successful ventures for investors. I’ve always structured projects to provide the best possible upside for my investors. My deals are structured so investors have the best possible chance to realize multiple returns on their investment funds, and we do the yearly joint interest billing (JIB) reporting, and required G.A.A.P. audits to make sure investors receive their tax write-offs. I like taking advantage of the best time to sell assets when optimal conditions exist to do so…such as when production revenue has begun to decline, and the field, or market timing warrants or strongly suggests selling assets to realize profits, and allow investors to take profits on their investments.
I’m the Operator of Tar Water Oil & Gas, LLC (TOG), owner of Elco Oil & Gas, LLC, and the sole member sponsor & issuer, and manager of the Cutting Edge Technologies, LLC FUND. Tar Water, or TOG is a private mid-west oil company with holdings in the US, and we have many investors we have known for years. My company doesn’t charge commissions, and we work with qualified, and typically sophisticated, and accredited investors. We can usually deliver up to 81.25% net revenue interest leases without any lease mark-up charges, and we charge minimum rates for lease operating expenses (L.O.E.’s), which enables our investors the best chance to make money in investment offerings we sell and develop. Our objective is to find and produce commercial quantities of oil & gas, and if successful, we then take modest back-end working interest equity ownership as our compensation. We like to deliver at least 75% of the working interest to investors in our deals. Our oil & gas team includes field, and staff personnel located in Tulsa, Oklahoma, and in California. All together, my staff and I have hundreds of years of ‘consistent, and ‘consecutive’ years of experience in the oil & gas industry.
Prior to working with the big brokerage houses in 1983, I graduated from Eastern Washington University in 1971, and completed the ROTC Flight Program at EWU. I later flew with private corporations, in the Tuna Industry in San Diego, for Petroleum Helicopters in Louisiana, and with Cascade Airways in Spokane, after my six year military service commitment ended in 1977. I’ve developed raw land in real estate deals, and owned and managed apartments, and houses. Between 1971 to 1977 I was a US Army Infantry and Cryptology & Electronic Warfare Intelligence officer with a Top Secret Crypto Security Clearance. I was a pilot in both fixed wing, and rotary wing operations, and spent 27 months in Southeast Asia in the early seventies while flying V.I.P., ARDF intelligence missions, and Special Black Operation assignments through-out Thailand, Cambodia, and Viet Nam. I received an honorable discharge as a Captain when my ETS was completed at Fort Lewis, Washington in 1977.
Dennis W. Stutes
Operator, Tar Water Oil & Gas, LLC
Owner, Elco Oil & Gas, LLC
Manager, Cutting Edge Technologies, LLC FUND
Ofc: 408 975 0800
Fax: 408 975 0803
Cell: 805 701 7761