- Report: #1078752
Report - Rebuttal - Arbitrate
Complaint Review: Petrodorado Energy Ltd
Petrodorado Energy Ltd3100, 250 - 6th Avenue SW Calgary, AB T2P 3H7 Calgary, Alberta USA
Petrodorado Energy Ltd Cheating with Agility CEO Khrishna Vathyam and VP Max Rolla, create false expectation among shareholders to raise funds, left behind the obligations and unacomplished contracts and kept the money Calgary Alberta
*Author of original report: Petrodorado Energy Ltd Cheating with Agility
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Petrodorado Energy Ltd (TSX-PDQ) is public Canadian international oil exploration company with operations in South America. It raised 75$MM at $0,35 per share on 2010 and $0,65 on 2011.Today the share price is at $0.05. Investors lost 93% of their money. The enterprise value of this company is -$15 million.
Petrodorado Directors ans Executives awarded for themselves options at $0.25. Which it means that when investors get their money back (if it would be possible), these people will make several millions, besides that they alow for themselves overheads of over $5 million
The work plan & commitment, was to developed 9 oil fields; 6 in Colombia 2 in Peru and 1 in Paraguay. Next year they sold or left 4 of these fields. They created expectation among share holders and then left them, provideing for themselves plenty of cash and expensive wages.
How did they cheated me? They hired me for selling and or farmout 2 blocks they had in Peru, the blocks where sold for $15 million and they runned out the country, leaving unpaid contracts and other liabilities. It is their procedure create expectations get money and forget about their compromises.
This report was posted on Ripoff Report on 08/24/2013 03:29 PM and is a permanent record located here: http://www.ripoffreport.com/r/Petrodorado-Energy-Ltd/Calgary-Alberta-AB-T2P-3H7/Petrodorado-Energy-Ltd-Cheating-with-Agility-CEO-Khrishna-Vathyam-and-VP-Max-Rolla-creat-1078752. 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.
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