Hello so i signed up because im thinking of making a big leap and doing an investment. Everyone keeps telling me oil, oil, oil so i have been researching and i have a very persistent guy, im not sure if its smart/dedicated persistence of desperate persistence...
"We have has 256 acres in West Texas . We are going to start reworks and new drills starting June 1, 2012. We have already found the oil . Oil is still at a remarkable price of $103.00 a Barrel. First project should pull between 60k to 80k barrels. Project has 60 units available at $15,500.00 per unit. If interested in entire project there will be a discount."
this is a summary of what hes telling me, i didnt post his company name either but its there. Not sure if i can post a link here but he is the 5th one down and hes looking for 500k! He is located in Texas as well.
Is this really possible or is he just not being realistic as 99% of business owners do. Everyone "believes" they are going to XYZ but in reality they do 25% ROI if they're lucky not 100's% increase. So basically hes telling me 15.5k to return back 60k-80k, should i just walk away or invest in 1 barrel and see how it goes? It really sounds like b.s but again i mean if that was possible why wouldent every investor be doing it?