Purchasing oil production assets for % return, any experience??

[Ryan DeGennaro]

Sorry for this being my first post, I am not affilliated with these folks in any way - the forum I am on regularly could not provide any good advice (too many kiddos). Wondering if anyone here knows if this is legit or not -

Purchase Currently Producing Oil (#9084) | Energy Exchange

Supposedly a 23% annualized return buying into an already drilled well to finance new wells for the driller. If what they are saying is true the return would be greater with oil prices about to go up - but I can't seem to find anyone out there who has actually done it....

help!

 

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[MJ DeMarco]

I've never heard of such a thing but that of course, doesn't mean it isn't legit.

An annualized 23% return is a little suspicious however with ...

As the price of oil increases with both inflation and demand, you stand to earn a very high

With inflation and retail price increase, I can see why it might yield this.

That said, do your diligence.

Visit the corporate office. Check out google street view. Do a google earch for the company name + scam/reviews/complaints, or something. Check out the age of the website? 3 months old? Or 3 years? Find customer's who have received 23% annualized (even so, Ponzi's pay early and often to facilitate the scam) ...

An investment like this isn't something you go into blind simply because it has rings of "to good to be true" ... and you know what they say about that ...