- Report: #1218415
Complaint Review: Fossil Oil - Houston Michigan
-
Author Not Confirmed
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Fossil Oil
2500 Wilcrest Dr Suite 405-415 Houston, 77042 Michigan, USA
Phone:
7139787986
Web:
www.fossiloil.com
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Fossil Oil Dennis Kittler Busted during the oil Boom Houston Texas
*Consumer Comment: chance to recover the loss
*Consumer Comment: Facebook group to recover the loss
*Consumer Comment: Facebook Group
*REBUTTAL Owner of company: please email me the facebook group
*General Comment: Fossil Oil Company scammed me too!!
*General Comment: Please invite me to the facebook page
Was provided information regarding an oil and gas investment opportunity in 2007, agreed to purchase one share for $10,000. Was given an investment synopsis with a worst case scenario of an 8:1 ROI over a few years with expectations laid out by Fossil Oil of much better. Eight years later I have not recouped my initial investment and have been charged penalties for refusing to pay for the well operating agent New Century Exploration to get one of the wells to an operating level. Currently that project Little Arco, does not even report its production to investors any longer. Several years ago I called New Century Exploration to question their seeming ineptitude, I was directed that per agreement with Fossil Oil, I was NOT to contact or question them. I called Dennis Kittler who sympathized with their inability to perform but kind of gave me a shoulder shrug and a "what can we do" response, then on subsequent revenue distributions, I was penalized for refusing to contribute to reworks of a well I was initially led to believe was a once in a lifetime opportunity. Every year since I started the investment, I have been nearly late filing my taxes based on Fossil not getting tax paperwork in a timely manner. They have a pattern of partnering with completely incompetent service entities at every level, which reflects that they in fact are most likely also completely incompetent, insulated I suppose by the fact that 20% or more of their staff are corporate oil and gas attorneys, family members or at times both. Anyone looking to invest with them should avoid doing so at all costs unless you are trying to take a loss for tax purposes. Keep in mind I know investments are risky; however, I got in with them when oil prices were at an all time high based on documents they provided with their valued partners indicating that these wells were can't lose opportunities, not so. To add insult to injury they send me other investment opportunities as if I would give them another dime. So to summarize, they are misleading, and when their promises and predictions do not come anywhere near reality they will charge you to help make up for the losses. I envision a "Boiler Room" setting but with a white Cadillac with steer horns. Terrible company but laden with industry connections to seemingly insulate tem from any penalty for their actions, deep in the heart of Texas. My wife sells essential oils and jokes that her oil returns have been more lucrative, I have asked multiple times to be bought out of my share, all requests have been rebuked.
6 Updates & Rebuttals
joe smith
long beach,New York,
USA
Please invite me to the facebook page
#2General Comment
Fri, July 01, 2016
I have also been scammed by Texas Oil Field. Please send me an invite to your facebook page. [email protected]
joe smith
long beach,New York,
USA
Fossil Oil Company scammed me too!!
#3General Comment
Fri, July 01, 2016
I paid a $10,000 investment back in 2007 and have received a few hundred dollars back. Now they are sending me threatening letters demanding more money wih 300% penalty of an additionl $2053 !!! This company needs to be reported. I invested in another company back in 2007 and they are now in jail (Mobile Imgaing). Some of you may have heard of them. Wondering if these two companies are connected. Please respdon to me so we can start a group and make a formal complaint to the FBI and or DOJ department. It will take time but if enough peope complain thie owners of this company may very well be prosecuted.
RippedOff
Texas,USA
please email me the facebook group
#4REBUTTAL Owner of company
Fri, February 19, 2016
my email is [email protected] (created just for this). I would like to join the facebook group.
Thanks,
RippedOff
Texas,USA
Facebook Group
#5Consumer Comment
Tue, February 16, 2016
Can someone please tell me the name of the facebook group. I am in the same boat as you all.
Thanks,
SHW
Pleasanton,California,
USA
Facebook group to recover the loss
#6Consumer Comment
Fri, November 13, 2015
We created facebook group, the goal of this group are: 1. Work together to recover the loss for the investment with Fossil Oil Company. I hope you can join. If you send me your email address, I will send you an invitation to join this group.
SHW
Pleasanton,California,
USA
chance to recover the loss
#7Consumer Comment
Sat, November 07, 2015
If all the Fossil Oil Investor can communicate and find a lawyer, there might be a chance to recover their loss. When combined loss is more than $100,000, some lawyers offer no-recovery no-fee charge against this kind of company.
