• Report: #943636

Complaint Review: PNP Petroleum

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Wed, September 19, 2012
  • Updated: Fri, March 08, 2013

  • Reported By: Investor — Baltimore Maryland United States of America
PNP Petroleum
21260 Gathering Oaks #106 San Antonio, Texas United States of America

PNP Petroleum Phil Zaccaria Took the money and didn't perform per agreement San Antonio, Texas

*REBUTTAL Owner of company: Many Facts missing from your report

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

PNP Petroleum and Phil Zaccaria pitched a group of investors to invest over $1million dollars in a deal where he was to manage a drilling operation for oil in Texas. Five wells were to be drilled in leased land and we were to share in the resulting oil. Two dry holes were drilled. No further drilling was attempted. Phil pointed fingers at others that were supposed to do the drilling.

He showed no interest in completing his obligations and rarely even returned our calls. He provided no help with his investors when tax returns needed to be filed. He provided very little accounting data. I would not invest a dime with this guy. He ripped off a lot of people and has accepted no accountability for his inaction. There is probably a criminal charge in order but so far none. He still advertises on his website, as if this site (Brookshire)is one of his success stories. What a joke. 

This report was posted on Ripoff Report on 09/19/2012 02:38 PM and is a permanent record located here: http://www.ripoffreport.com/r/PNP-Petroleum/San-Antonio-Texas-78258/PNP-Petroleum-Phil-Zaccaria-Took-the-money-and-didnt-perform-per-agreement-San-Antonio-T-943636. 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.

Click Here to read other Ripoff Reports on PNP Petroleum

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Many Facts missing from your report

AUTHOR: Phil - (United States of America)

Original Project was owned by Seahorse and PNP and its partners were going to participate with Seahorse. 

The undisputed facts:

The description was a wildcat drilling project in which the plan was to purchase over 3000 acres of leases (many of the acres were inside city limits), perform 3-D sesimic (inside city limits), process and evaluate information and drill wells on the prospects generated.  Over a combined $4 MM was spent on the project.  Over 3000 acres was leased, 3-D sesimic survey performed, sesimic processed (three times) and evaluated by very qualified geophysists.  Two initial wells were drilled on the best prospects generated but came up dry holes.  Sesimic was then reprocessed and re-evaluated and one additional well was drilled with another operator and this well was also a dry hole.  After trying for 2+years to find additional oil and gas operators to drill additional wells, 90% of the partners decided not to go forward due to the complexity of the field and not wanting to waste anymore money.   

The geologists and engineers are still today confused by the dryholes as we all held high hopes for this Project.

A complete audited accounting of the funds, copies of checks, maps of prospects generated has been given to the partners along with many other requested summaries. 

Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.