Dear POA Investors,

Do you think POA and CAGOM is making good progress on reviving the production of crude oil ? The application for well license transfer
was submitted on 6th May 2016. To-date AER has not approved any of the well transfers. How many years will this take to transfer 208
wells ?

For a successful well transfer an LMR rating of at least 2.0 is required meaning to say current total asset should be at least 2 times more
than current total liabilities. If total asset equals to total liabilities then LMR rating would be 1.0. Please refer LLR report below.

 LLR_Report.pdf ( 40.96k ) Number of downloads: 43

The current LMR rating for COGI is only 1.2 which probably means if total assets are sold to pay up total liabilities there could only be 0.2
left or 20% remaining. With the current market value of WTI crude, the 0.2 left or 20% remaining assets is quite far from CAD 128 million
owed to POA investors.

Does the 0.2 left or 20% remaining asset sufficiently represent 208 oil wells owned by POA ? Is there a possibility after the auctioning of all
COGI assets above, some wells rightfully belonged to POA may have been auctioned off, considering POA is still identifying remaining wells
rightfully belong to them ?

In terms of business plan submitted to revive production, POA and CAGOM is far from getting to the beginning of implementation phase. If
approval from AER continues to be delayed, the expectation next year to revive production will not be met.

If situation is prolonged expect to wait possibly 5, 10 or more years before all wells are completely transferred, extracted, and sold if POA
managed to secure buyers. Some investors may never live this long to see the money again. Hence to expedite the revival process below
are some pro-active actions to consider :

● POA and CAGOM needs to be pushed harder and contacted regularly for updates to expedite revival.
● POA and CAGOM needs to consider obtaining written signatures from all POA investors as evidence to push AER to expedite decision of
well transfer.
● POA investors may need to form a TEAM to collectively suggest and take actions on POA and CAGOM should situation prolong with failure
of the project. There are lawyers in Singapore, Hong Kong, and Malaysia whom can be engaged to audit them and monitor the situation.
If necessary the lawyers are capable to engage lawyers from abroad to file court case in Singapore and Canada.

Remember TEAM = Together Everyone Achieves More.

There are not enough efforts currently to make things happen. If no actions are taken, situation will likely be prolonged since POA and CAGOM
may not know how much longer this will take due to denial of well transfer from AER.

The Proven Oil Asia (POA) Investor.

This post has been edited by TeamWorks: Dec 12 2016, 07:33 PM

When investors initial bought in, they were informed that they has '1st charge' and were told they had the first rights if happen to liquidate.
how come have this problem now ?
thought if sold the '1st charge' means to get money first.... any lawyers here can help elaborate ?
tx

This post has been edited by ronho: Dec 10 2016, 09:44 PM

Tanzie Ong is currently in palm oil marketing company and doing MLM.

She's such a polished salesperson with good looks, and excellent communication & written skills.

I bet a lot of guys are smitten by her.

Dear POA Investors,

I've consulted legal advice in regards to current situation since we are not making any good progress in recovering from this disaster and was recommended to gather as many POA investors
as possible to collectively take actions on POA and CAGOM. Reasons are :

* Transfer of oil well from receiver MNP to POA is not materializing despite Law Fields legal letter to MNP demanding the transfer due to POA's $19M liability of these wells in a stuck situation.

* Even if transfer is made and wells were successfully sold, the resulting total proceeds will be unable to fully recover the CAD$128M paid by investors due to depletion of Asia invested funds,
depletion of oil wells, operational costs, mismanagement of funds and oil wells already committed by previous POA management.

Please send me a private message (PM) to see how we can collectively work out with the legal advisor in dealing with this disaster. If there is already an on-going legal case against POA and
CAGOM please let me know to take part to support and expedite the resolution.

Please do not fall for POA's pleas to wait for 5 more years for a resolution. If they can make us wait for 5 years, why can't they make us wait for another 5 more years and repeat their pleas.

Remember TEAM = Together Everyone Achieves More.

The Proven Oil Asia (POA) Investor.

This post has been edited by TeamWorks: Oct 2 2017, 06:09 PM


Attached File(s)
 CAGOM_Newsletter_3_Shareholders_14082017.pdf ( 453.51k ) Number of downloads: 55
 CAGOM_Newsletter_3_Shareholders_14082017_Chinese.pdf ( 878.76k ) Number of downloads: 24

The last update from them was in August - from POA. Up to date, this issue is being kept silent and the report was they are making loss everyday. Did you receive any email or update so far?

Seems there is some meeting next thursday

I tot died already, still on-going gah

let's not give up and wait for the meeting update.

There has been a lot of investment companies like these appearing. Taking "Other People's Money" for reinvestment. Some are definitely legit and some are not.

Do your research first, ask yourself if you believe in the company. It's just like putting money into mutual fund, the bank also take your money and invest somewhere. Same concept, just that now you are putting your money into a private entity.

Every investment is a risk game, you win or you lose. Where got guarantee win one. Haha.

Just wanted to share a two cent thought.

Bubble burst
http://www.theedgemarkets.com/article/inve...vestment-scheme

I wonder how many supporter/gamblers/"investors" who posted positive comments here about the scheme actually make money

12% per annum, means they have to collect interest payment for 8 years 4 months just to get back capital to break even (and haven't even calculate the time value of money)

Only from the 8.5 years, they start to get 3% return.

Since the scheme started after 2010, we can assume that everybody who gamble in this scheme loss money. Those earlier people loss less, later ones loss more

How was the previous meeting conducted?

I think all investors must take action against scammers.

Hello, is there a collective lawsuit against POA and CAGOM? How can I join? Thanks!

TEAMWORK investor - what is your email address?

Why no body shares about the previous meeting? What was the meeting about and conclusions?

So i am just curious, what happened to this case? all investors burnt their MONEY ah? I lost Rm 10,000
Didn't go for litigtaion. waste of time.

is there anyone here who sign up for litigation? whats the update like?

Yes, burned liao.

anyone received their cheques?

which bank has the cheapest fee to bank in?

This post has been edited by jack2: Oct 30 2019, 07:19 AM

Hi.. May I know who have signed the letter and will going to give evidence on coming 29/9/2020 in Singapore Court?