Comments on: Investing In Oil http://livingoffdividends.com/2007/09/22/investing-in-oil/ Join me on my journey to achieve financial independence through dividends, passive income and investments Tue, 13 Dec 2011 07:31:37 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: tx oil guy http://livingoffdividends.com/2007/09/22/investing-in-oil/comment-page-1/#comment-2717 tx oil guy Fri, 01 Feb 2008 22:16:33 +0000 http://www.livingoffdividends.com/2007/09/22/investing-in-oil/#comment-2717 This is an old post, but I'll reply anyway. Stay away from oil and gas deals. Far, far away. The movie Boiler Room is an accurate representation of the average O&G deal. I was an O&G sales rep once - I had no idea what the industry was about and thought I was getting in on something legit and exciting. I found out a year later that I was ripping people off, promising 30% to 100% returns in a year and delivering $0 and a "tax write-off." If you want to invest in O&G, buy public companies or invest in the oil exchange, but avoid private placements. Refer to www.vcresearch.info for more details. I wish I had never been involved in that industry. This is an old post, but I’ll reply anyway. Stay away from oil and gas deals. Far, far away. The movie Boiler Room is an accurate representation of the average O&G deal. I was an O&G sales rep once – I had no idea what the industry was about and thought I was getting in on something legit and exciting. I found out a year later that I was ripping people off, promising 30% to 100% returns in a year and delivering $0 and a “tax write-off.” If you want to invest in O&G, buy public companies or invest in the oil exchange, but avoid private placements.

Refer to http://www.vcresearch.info for more details. I wish I had never been involved in that industry.

]]> By: Grant http://livingoffdividends.com/2007/09/22/investing-in-oil/comment-page-1/#comment-1070 Grant Wed, 28 Nov 2007 00:58:14 +0000 http://www.livingoffdividends.com/2007/09/22/investing-in-oil/#comment-1070 Actually, I didn't get that burned. My problem was that the group that I purchased a lease from slid a royalty clause into the agreement without any one of the parties involved on my side catching it. Consequently, we owe a royalty fee to the former owner until the beginning of 2009. It's not terribly significant, but you can bet that if we'd caught it we would not have agreed to those terms. -Grant Actually, I didn’t get that burned.

My problem was that the group that I purchased a lease from slid a royalty clause into the agreement without any one of the parties involved on my side catching it.

Consequently, we owe a royalty fee to the former owner until the beginning of 2009. It’s not terribly significant, but you can bet that if we’d caught it we would not have agreed to those terms.

-Grant

]]> By: Adventures In Money Making http://livingoffdividends.com/2007/09/22/investing-in-oil/comment-page-1/#comment-777 Adventures In Money Making Tue, 02 Oct 2007 02:35:00 +0000 http://www.livingoffdividends.com/2007/09/22/investing-in-oil/#comment-777 um....I'm not grant.<br/>that's the crook that swindled me.<br/><br/>like i said before, ask a CPA.<br/><br/>that being said, if you know them personally and trust them and can afford to lose your investment, go for it. um….I’m not grant.
that’s the crook that swindled me.

like i said before, ask a CPA.

that being said, if you know them personally and trust them and can afford to lose your investment, go for it.

]]> By: Anonymous http://livingoffdividends.com/2007/09/22/investing-in-oil/comment-page-1/#comment-776 Anonymous Tue, 02 Oct 2007 02:04:00 +0000 http://www.livingoffdividends.com/2007/09/22/investing-in-oil/#comment-776 hi grant,<br/><br/>You seem knowledgeable on these type of investments, ...how has the fine print "burned" you before?...if you dont mind me asking...im able to get into with a group of accredited investors with a very minimal cost, because they want to give me a chance.... hi grant,

You seem knowledgeable on these type of investments, …how has the fine print “burned” you before?…if you dont mind me asking…im able to get into with a group of accredited investors with a very minimal cost, because they want to give me a chance….

]]> By: Adventures In Money Making http://livingoffdividends.com/2007/09/22/investing-in-oil/comment-page-1/#comment-774 Adventures In Money Making Wed, 26 Sep 2007 07:13:00 +0000 http://www.livingoffdividends.com/2007/09/22/investing-in-oil/#comment-774 Dear Anonymous,<br/><br/>I suggest you show it to your CPA or attorney to review. If you do not have one or cannot afford one, you probably shouldn't be investing in the PPM. Dear Anonymous,

I suggest you show it to your CPA or attorney to review. If you do not have one or cannot afford one, you probably shouldn’t be investing in the PPM.

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