After doing a search for Proven Oil Asia I was directed to this series of comments. Clearly no one has seen the situation clearly. You do not get 3% interest every 3 months you only get the discount of 12% paid quarterly!!!
Therefore it is like buying discounted groceries at Tesco and only getting your discount in the future, not at point of sale. Even if you do get the discount at the end of the period you will own a number of drums of crude oil which may be of higher or LOWER value that you paid for it!!! A great scheme for raising money but a risky way of buying oil.

I am a long time customer of Silvermalaysia their sister company. They have introduced the Oil investment to me 6 months ago, quoting 12% p.a. From what i know the minimum investment amount is RM5k. I have not yet decided to embark on their latest investment offer.

First of all: you get your Money back!!! Every 3% are YOUR money, you gave to them. If you have 100% of your invested money back, you can be happy. Eyery payment you get after that will show you, if the investment is really working!!!!!

yes i was told that 3% is actually the discounted price. And the oil is sold and buy back again every 3 months, in 24 months you buy and sell total 8 times.

Say you buy RM100k on 1.4.2014 , 3 months later they sell your oil and give you your 3% discounted price ie RM3000. Then they use your money again (but i am not sure if it is still RM100k - this is unclear), to buy another lot of oil, also at 3% discounted price. again sell them 3 months later and give you that 3%.

Oil price can move up and also down. So theoretically speaking after buying and selling few cycles you could end up with more or less money, no more the same as your initial amount. If you end up with more money, surely they will take as it is their business profit.

But at the end if sales proceed is much lesser than your initial capital, do you think they will top it up with their pocket money to pay you back your initial amount? I doubt it. Lose you absorb, win they take.

So my question is by the end of the 8x buy- sell, buy- sell cycle, are we still having the RM100k there or not?Tanzie could not give me a clear answer. Verbally she said yes, but i want it stated in black and white on our purchase agreement.


The fact that you have to buy and sell 8 cycles in 2 years give them ample excuses to tell you at the end your proceed is no more Rm100k, as the 8x buy sell process surely incurs expenses not to mention price
volatility.

Someone just called me with regards to this business model.

Straight away, i smell ponzi scheme or scam.

Come on, use common sense, 12% return. This is like another geneva scams trying to hoodwink poor investors.

I really laugh when i saw those poor greedy investors protest and cry claiming it is not a scam when it's outright a scam and a ponzi scheme.

Like they says, greed shows no colour. A sucker is born every minute.

Until now i still very confuse why so many entity to operate one investment.

1)Conserve Oil Corporation (Crude Oil Mining Company)
www.conserveoilcorporation.com
What i know is his role is oil mining

2)Sproule (Providing Certified Valuation Report)
www.sproule.com
This is valuer


3)Schlumberger (Providing World Class Oil Recovery Technology)
www.slb.com
This one is technology provider?


4)Proven Oil Canada (A wholly owned subsidiary of COC, raise funds from Europe thru Private Placement Funds)
www.proven-oil-canada.de

5) Proven Oil Asia (A wholly owned subsidiary of COC, raise funds from Asia thru Crude Oil Purchase Order)
www.provenoilasia.com
This company is in singapore.. what is the function of this company?

6)Capital Asia Group (HK) Ltd (Sole Marketing Agent of Proven Oil Asia Crude Oil Purchase)

www.capitalasiagroup.com

7) Proven Oil Asia Sdn Bhd. register under jonathan and candice( what is the function of this company?)

8) SilverMalaysia.com (Operated by True North Asia Sdn. Bhd.) This also a jonathan and candice company ( Marketing agent of Capital Asia Group?)

if got problem which entity going to responsible? the marketing company? the POA in Singapore or POA in Malaysia or POA in Canada?

Why POA Sdn BHD is register under candice lee and jonathan quek name.? and Why they use SilverMalaysia to market?

hi there,

I can answer your question. the answer is yes and I can provide you proof of it.

Answer 1: COC as the agreement is between you n them.

answer 2: owner of cag s'pore knows the both of them personally.

answer 3: silvermalaysia is one of their few distribution partners besides themselves.

Haha!!! That is so funny!!!! The german Investors (who paid in the first place for the oil which is now traded in Asia) didn't get their payments for the 4th time...
So you want me to believe, that your investment is really working?????
By the way: there is more than one law suit against the German company.
And if you do not know it yet: the husband of the German company owner is working for COC as Marketing manager. What a coincidence.....

Hi

Im a purchaser of this crude oil program since the day Capital Asia Group launched the project in 2012.
I was told by a friend that there is a forum talking about this program.
So just drop by and have a look.

After reading all the comments, I think all of you have gave good opinions. However personal opinion does not represent the true facts you see!!

I got total of 6 payouts since Jan, Apr, July, Oct 2013. And Jan & April 2014. My next payout is on next month.
So far all the payouts are paid earlier than the mentioned date in the contract.

Before I buy I also did due diligence in it.

Then let's see how long you will get your payment.....
Maybe one more year, that's it....

A tip for you before investing: Please try to understand how the structure/flow of the money works before investing in this.

This post has been edited by tan1346: Jun 8 2014, 07:29 AM

Agree with you!

I understand the underlying business structure first.
If the crude oil business itself doesn't make at least 120%, how can they pay 12% to the buyer + X amount of agent fee?
Same thing like wise to Fix deposit, if the bank doesn't make between 20-30%, how can they promise a fix 3% pa rate + fund manager fee + salary + utilities?

Can check what is the cost of production per barrel of crude oil in canada vs what is the price per barrel for crude. You'll understand why Petronas is so rich.

This post has been edited by prncess: Jun 8 2014, 12:51 PM

It's all about risk vs rewards. If you want safe returns then put in a local bank for 3% a year, guaranteed by PIDM. If you want slightly higher returns then put in Bank Rakyat 4% but not guaranteed by PIDM. If you want 10% -12% and the company is doing well, you might get it every year. If company collapse then bye bye your money then don't cry baby. If you want quick rick program aka ponzi scheme like yslm hopefully you wont jump from petronas towers...

you guys know what is PERFECT SCAM? please bear in mind, those people who created such PERFECT SCAM usually smarter and richer than us. I believe that most of here are not richer than the owner. they can provide you thousand of proof to prove you that they are legal. Normally people like us just discuss here in forum can't really figure out a conclusion to identify it is really a scam or not. Sometimes such scam can even involve celebrities, politicians, branded companies. at one point, your friends, your relatives and even you family get involved. you are forced to believe that is no issue. and finally you also start invest your hard earn money.

we heard many times about such story but a new way of scam still keep coming out because they know people are greedy.

I won't say this Crude Oil stuff is a scam now. Recently I just met with one of the agent, and he showed me the S&P and many pages of the contract. I just can't figure out all these documents are genuine cause everything seems out of my knowledge. so i decide to do some research and found this thread.

my conclusion is, if i don't understand the whole thing i better don't take any risk even they offer very attractive returns.

if such good thing is really working, i don't mind to wait for another few years to observe. because I can still get my 4 to 5 % returns with the thing i know now.

You guys know right, such high return thing will always exist. now is crude oil perhaps next time is diamond. as long as you have money, plenty of good chance is waiting for you. like some forumers here said. just invest the thing you really know about it, no free lunch in this world.

I keep myself open and observe this crude oil stuff

the methods are all the same, a friend just invited me to join his Forex ?FNAC or something, paying 3% every week, so it is 12% every 4 weeks!!! Can you believe this??

They recruit new members, collect new money to pay the old members. When they decide to stop, the last who stays will be burnt!

There are always suckers to take the bait. People never learn from lessons. Human greed prevails!!

People never learns that's no such thing as free lunch. Human greed kills

hey guys, sharing my opinion on Capital asia group to you guys. I have been to their office a few times and i was planning to be one of their consultant to sell their product which is crude oil, but over the course of two days i have found out that there is not much of evidence proving just how do they operate the company, all they have are some agreements with BP esso, nexen, tidal and yes, I do doubt the authenticity of the agreements.
and another thing is that which some of u guys mentioned above, why not take a loan from a bank or public list their company to get funds? The company actually pays out more than 15% in interest annually to all of us ( including our commission).
Not only that, there are also very little infos on these websites circulating on the internet (only their own company website), if it is really that good, i am sure it will go viral all over the world, isn't it?

think wisely, its like purchasing paper gold from local banks, they say they do purchase the gold and stock it up for you, but you wouldn't know what they do with your funds.

This post has been edited by JaniceWLV: Jun 30 2014, 11:38 PM