I also have invested $45,000 on four different projects with Fossil Oil during 2013-2014 when oil prices were running between $90-$100. -The first well was a dry hole – total loss. -The second well found oil. This one was projected to produce 125 barrels per day but is actually averaging 25-30 barrels per day. The well has been producing for 17 months and I have received a total of $1,036 during this time against my initial investment of $10,000. -The third well also produced some oil for a short period of time but not enough to cover the expenses. Another total loss, plus the investors had to pay a $453 cash call back to Fossil to cover excess expenses -The fourth project was a four well package. The first well produced oil for a few months and stopped producing – it is shut down. The second well was a dry hole. The third well produces only between 1-2 barrels per day and a small amount of gas. The fourth well is averaging 5 barrels of oil per bay plus gas. The bottom line on this package is that after over one year the investors have not received one penny of return and in fact are in arrears with the possibility of another cash call.
This complaint and/or review was posted on HolySmoke.org on 01:15 am, June 28, 2018 (CST) and is a permanent record located at: https://www.holysmoke.org/scam/fossil-oil-company-l-l-c-review/.
The reviews & complaints posted about Fossil Oil Company, L.L.C was submitted by a member or guest on this website. Any and all opinions and information are published as is. HolySmoke.org does not edit or remove any aspect of the report and is simply a consumer grievance free-speech platform. As such, HolySmoke.org cannot be held liable for the complaints and reviews posted about Fossil Oil Company, L.L.C as per Section 230 of the Communications Decency Act.
Business Advocacy Program
Advocacy program is a relationship between you and your most engaged consumers – the ones that choose to go a level higher to hold you accountable.