What A Hectic Week!!!
Thank God the week is over! I had to rush to raise $100k for an oil deal in TX that I’m working on. I thought I had more time, but it turns out we had a competing bid for a LOT more than our bid on the same project, so basically we only had 7 days. Well, I got the money in 3 days!!! Quite hectic though.
Readers will probably ask me what the deal is so I’ll tell you. We’re uncapping on old well that should produce about 10-12 bopd[barrels of oil per day] and then use that as collateral to borrow $250k from the bank to drill a brand new one, which should generate 125 bopd. If all goes well the investors will make a 20 fold return and I’ll get a small cut of the action too!
Also of note is that I turned in my resignation today. Quite a surprise to my co-workers, but I have a position at a friend’s company which has more flexible hours so I can do more of my investment stuff! Definitely a step in the right direction. It was such a rush! Can’t wait for the day when I can quit for good and focus on my investments 100%.
Anyway, there’s no rest for the wicked. I now have 2 weeks to raise another $200k for another oil deal I’m working on in another state.
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June 16th, 2006 at 5:20 pm
WOW! busy busy.. I hope your oil investment works out…
Beware of investing in alternatives I heard there might be a glut..