Saturday, December 01, 2007

Risky Business Venture

Dear Mr. Tan,

Thank you for your guidance and your "matter of fact way" of explaining things.

I stumbled upon oilpod.com recently. Basically you buy the rights to minerals in USA through oilpods.com. Your name gets registered as a mineral owner in the US. Your capital funds the hi tech exploration.They show geographical printouts of mines.

The company is Power Basin, listed in US. The payout is quite interesting:

* 0%: from 1 to 6 months
* 9% per annum: from month 6 to 12
* 30% per annum: year 1 to 3.5

Residue income from 3.5 years to end of economic life of mines abot year 12. This seems to be a great alternative for annuities.

REPLY
I am usually suspicious about investments of this type. I keep away from them, in case it is a scam. (Note: I do not make any judgement of this particular investment).

5 comments:

MLM Professor said...

It seems that high return payouts and low risks doesn't tally. it's better to stear clear away from such get rich quck schemes

Raymond T said...

http://www.todayonline.com/articles/273587.asp

toyz said...

Hi Mr Tan,
I am one of the victims for this Ponzi scheme. Together with 3 more friends, we invested close to US$30k.

All of us are very upset and angry with the marketing company, Oilpods, in handling the investor queries. Till date, they did not even have the decency to meet up or apologize to the investors. All they did is asking the investors to consult their own lawyer to deal with this!

Do you have any advise for the small investors like myself? Do investors have a case against the marketing firm, Oilpods? Afterall, the paper reported the total investment made by SEA investor totalled US$46m....

softech said...

Interesting… I might try some of this on my blog, too. It’s quite interesting how you sometimes stop being innovative and just go for an accepted solution without actually trying to improve it… you make a couple of good points.
Venture Capital business plan

anthony said...

Small Business owners are largely forgotten. Thats why I only focus on them. I have experience several members of my family file bankruptcy due to small business failures. I also I suffered through 2 destroyed businesses due to failure however, in my failings I have learned some of the secrets to success. (Who can say they know it all?)

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