• Report: #723757

Complaint Review: Millennium Exploration Company

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  • Submitted: Fri, April 29, 2011
  • Updated: Fri, April 11, 2014

  • Reported By: Tom — Ohio USA
Millennium Exploration Company
400 North Loop 1604 E Suite 107 San Antonio, Texas United States of America

Complaint Review: Millennium Exploration Company | Notice: Ripoff Report VIP Arbitration Decision: A neutral and independent Arbitrator has determined that the following Report contained one or more false statements of facts. The false statements have been redacted as ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)) | Furthermore, the Arbitrator found that the Author of this Report was not a customer of the Complainant. | Millennium Exploration Company Richard Monroy Millennium Exploration Company Rips Off Investors San Antonio, Texas

*General Comment: Millennium Exploration is not Registered with TX Securities Commission

*REBUTTAL Owner of company: Non Existent Client, Possible Former Employee Turned Competitor

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RIPOFF REPORT VIP ARBITRATION

SUMMARY OF ARBITRATOR’S DECISION

Millennium Exploration Company, L.L.C., Complainant

v.

Anonymous, Author of Report #723757, 

________________________________________________________________________ 

Complainant Millennium Exploration Co. (the “Complainant”) has challenged the truthfulness of certain specific statements (each, a “Statement”) posted by Author “Tom” or Anonymous (the “Author”) on the Ripoff Report website at www.ripoffreport.com as Ripoff Report #723757 (the “Report”). The Author did not submit a response to the Complainant or any contact information. Therefore, in accordance with the Ripoff Report VIP Arbitration Rules (the “Rules), the Author waived their right to participate in this Arbitration. By submitting a Report and a Complaint on the Ripoff Report websites, both the Complainant and the Author have agreed to submit the dispute to the Ripoff Report VIP Arbitration Program. 

In accordance with the Rules, the Arbitrator was asked to decide whether the challenged Statements were an opinion or a fact. If, and only if, the Statement was determined to be a statement of fact, the Arbitrator was asked to further decided if, by a preponderance of the evidence, to determine if the Statement was true or false. If the statement identified by the Complainant is determined to be an opinion, no determination will be made as to that particular Statement because an opinion cannot be determined to be true nor false. 

In this case, the Arbitrator had only the evidence submitted by the Complainant to consider. The evidence submitted included Ripoff Report #723757, Complainant’s Arbitration Statement, Complainant’s Witness Statements, and supporting documentation. 

Each Statement challenged by the Complainant has been considered, together with any Witness Statements and Documents provided by the Complainant for determination of the truth or falsity of the Statement. The Author did not provide a response to the Complaint. 

The Arbitrator determined that the certain statements challenged in the Report were false. Therefore, according to the VIP Arbitration Rules, those statements have been redacted. 

Decided April 11, 2014 

Sandra J. Franklin, Arbitrator 

* A copy of the full Arbitrator’s Decision is available upon request. Please e-mail arbitration@ripoffreport.com with the name of the Complainant and Report number.

________________________________________________________________________

 

Millennium is not a profitable investment.  

I was contacted by telephone some time ago by Millennium.  They told me that I could make money investing in their oil wells.  ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)).  They misrepresented the potential daily production figures and overall yields.  They told me I could receive checks every month for thousands.  ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)).  ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)).  

I talked to my attorney and he did an investigation and determined that Millennium does not have suficient assets to even justify suing them.  Basically, he says that they are judgment proof.  So I am not suing them, but I would just like to put the word out to others so that they know the whole story. 


This report was posted on Ripoff Report on 04/29/2011 02:59 PM and is a permanent record located here: http://www.ripoffreport.com/r/Millennium-Exploration-Company/San-Antonio-Texas-78232/Complaint-Review-Millennium-Exploration-Company-Notice-Ripoff-Report-VIP-Arbitration-D-723757. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 General Comment

Millennium Exploration is not Registered with TX Securities Commission

AUTHOR: I TEAM - (United States of America)

In repsonse to Monroy's claim that there is other avenues to address his company about ripping off investors, I just want to inform consumers that Millennium Exploration is not a registered company with the state of Texas in the Securities Commission nor are they registered with the SEC.  In fact Richard Monroy is not even registered to sell any securities nor can none of his board of directors be found on the SEC search for licenses to sell securities.  Monroy was allowed to resign with his previous employer for stealing inside infomation on investors.  Using prweb.com to release mid-year reports is a clever way to decieve the investors.  In fact the companies that are said to be partnered with are non-existant.  In fact Millennium Exploration has never even filed with the TX railroad commission to drill in the state of Texas.  Here is another interesting note, Monroys business registered with the Sec of State of TX is registered as an LLC and he is a manager not a CEO plus its address is at his residence.  Beware of the tax loop hole investment and of 3D technology to be a major oil and gas producer in Texas because According to the Texas Railroad Commission MEC is not even in the top 32 producers if they are even exploring at that. 
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#2 REBUTTAL Owner of company

Non Existent Client, Possible Former Employee Turned Competitor

AUTHOR: Richard Monroy - (United States of America)

I am filing a formal dispute against this posting for several reasons. My primary concern is for the reputation of the company, which is positive, and has taken many years to establish. Millennium Exploration Co. has always dealt with costumer issues in house and has never had a formal complaint filed against us. I believe the "author" of this posting used this delivery vehicle for their false grievance because of the internet traffic that this site draws. Millennium is certain this report was generated by a previous employee turned competitor.
            
The dispute is founded on this: There are no clients of Millennium Exploration or Richard Monroy by said name in said state. Author has other official recourses other than RipoffReport.com for complaints (i.e. Better Business Bureau ro Texas State Securities Board). Financial information about Millennium is not public record so therefore speculation of its assets or lack thereof are false. Finally, although Millennium specializes in high risk investments, the general statement of "is not a profitable investment" may be one person's opinion and not a general overview. Millennium manages numerous properties with varying degrees of success. In fact, Millennium has been fetured in Oil and Gas publications for successful wells so the above statement,even if made by an actual investor, would be false.

http://www.bbb.org/central-texas/business-reviews/oil-and-gas-exploration-and-development/millennium-exploration-in-san-antonio-tx-90073019

Witness Statements:

Richard, I just read this article and I personally think its a fake! Millennium does a good job for all of its partners, they are informed and know what to expect, more over our relationships are strong and continue to grow. After conducting a
small search in my records and contacting a few partners, it appears even more apparent that this article was most likely written by a scorned ex-hire. Please let me know if we find out who the culprit is. Thanks, Theo

Richard, I just read this article and I personally think its a fake! Millennium does a good job for all of its partners, they are informed and know what to expect, more over our relationships are strong and continue to grow. After conducting a
small search in my records and contacting a few partners, it appears even more apparent that this article was most likely written by a scorned ex-hire. Please let me know if we find out who the culprit is. Thanks, Theo Jahns Senior VP, Millennium Exploration Co.

In my professional opinion, Millennium Exploration Company does NOT inflate or exaggerate potential daily oil and gas flow rates or cumulative potentials. In my experience with Millennium, they rely heavily on the assumptions of experts and in most cases present a more conservative outlook than recommended. Cody Ball, Petroleum Geologist

As per our meeting this morning (Tuesday, May 10, 2011 @ 9:00 AM) when you informed me about the information presented in your email below, I personally witnessed, at the request of Cindy Helou, our office manager, check and verify Millennium Exploration, LLC client database, which to my knowledge consist of every client Millennium Exploration, LLC has ever done business with since the company's inception, and found no client with the name Tom, Thomas, or derivative their of, residing in Ohio. Please forward me the arbitrary letter as soon as you write it, for my personal records as well as to share this mudslinging campaign against Millennium Exploration, LLC with the clients under my direct supervision. I also ask that I immediately be informed when the arbitrary letter is sent to Ripoffreport.com , Millennium Exploration, LLC cooperate attorney, as well as when Millennium Exploration, LLC receives a response from ripoofreport.com. I would also like to personally thank you for bringing this to the attention of the entire staff. James Ramirez, VP of Investor Relations, Millennium Exploration Co. After our meeting and receiving this email I personally checked the database and
did several searches using different criteria. I found no such client.

We have no one in our database by the name of Tom or Thomas or Tommy from Ohio that has ever purchased anything
from Millennium Exploration. This is a false statement and should be shown as such. fter my search, I only found one client with the name of Tom or Thomas and he is not from OHIO and he is still receiving revenue check on a well he invested with us back in 2007. He also has done more business with us recently. Cindy Helou, Executive Administrator, Millennium Exploration Co.

After viewing this article, your email, and speaking on the matter in our meeting this morning (5/10/11); I have personally and thoroughly checked the entire database for any client meeting this description in any way and all searched came up negative. I have no knowledge of ANY client meeting these criteria. Therefore the claim in this article is FALSE and there is no validity to is what so ever. There is no viable source to where this data might have come from, and is a fraudulent claim. Thank you for bringing this matter to my attention and your efforts to further eradicate this problem. Sadie Helou, Data Entry Administrator, Millennium Exploration Co.




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