FOSSIL OIL COMPANY WINDING DOWN OPERATIONS – OFFICE LOCATION MOVED
Fossil Oil’s President and Founder, Dennis R. Kittler, has spent the past forty-two years actively acquiring seismic data, subsurface geology and mineral leases near producing oilfields, generating multiple well drilling prospects to provide lower risk multi-zone oil and gas drilling programs. Reaching the age of seventy-five (75) this year, Mr. Kittler has decided to down-size Fossil’s activities to just managing the remaining three (3) active Joint Ventures. This website will remain on line to keep the JV REPORT link current for the investors in those active programs. If you do not remember the password, please call Mr. Kittler at the number below.
Fossil Oil Company has also moved to Mr. Kittler’s home now that after 5.5 months it has been repaired from the flood damage:
11107 Tupper Lake Drive
Houston, Texas 77042
2017 K-1 Announcement:
Hello Fossil Investor,
By this time most of you know that Fossil Oil Company, LLC is in essence no longer in business. As the Managing Partner in every Joint Venture, I am still responsible to continue over-seeing what remains with Fossil Oil business. One problem that came to my attention was that our previous CPA did not check off that each of the past Ranken Energy JVs were to be filing a “Final” tax return in 2016. Since simple over-sight occurred, Fossil Oil now is still required to file a 2017 Federal Tax Return and issue a K-1 even if the value benefit is zero.
My personal accountant has been kind enough to file an extension for each Fossil Oil Joint Venture for 2017 tax year. Efforts to find a CPA early on to prepare nearly 20 JV tax returns failed. Last year’s CPA is still owned money from work done for Fossil Oil. Fossil Oil has no formal office, no funds, no employees, no revenues and very few corporate files remaining as the result of the Hurricane Harvey flood. I have been advised to tell you that you should file your 2017 Federal Tax Return now. Once I find a way to get someone to prepare the 2017 returns between now and September 2018, I will send the K-1s out. If they have a positive effect on your tax return, then speak to your CPA to see if you should choose the option to amend your 2017 return. If not, then do not amend your return and file the K-1 for your records.
Dennis Kittler – Managing Partner
281-687-5442 - Cell
Fossil Oil Company’s office was significantly damaged by the recent Hurricane Harvey compounded by the Tropical Storm Harvey. As of today, we have limited access to the residence of Dennis Kittler and Fossil Oil’s office within his home. Power has been returned and reconstruction of the home and office is currently underway. We have received minimum assistance from FEMA compounded by no flood insurance has complicated rebuilding. Our new office phone number is 281-687-5442. Fossil Oil no longer has any employees since Lisa Kittler has moved on to a new career. Mr. Kittler is currently living outside of Houston until reconstruction is completed. Currently, there are only three (3) active Joint Ventures still managed by Fossil Oil. Fossil Oil Management is seeking to find a replacement “Managing Partner” to handle the accounting of Quarterly Statements, posting of the Report Link and year-end tax K-1.
Thank you for your understanding and patience during this catastrophic event.
Fossil Oil Management
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