Investments which concerned that of oil ventures were always considered as being a high-risk investment, a non-standard asset and it was also thought of as being unregulated by the FCA. A Venture Oil Investment seemed like that of a simple, yet meaningful investment opportunity which was supposed to be SIPP Approved. This venture was set out at the time to offer its investors returns between 20% and 30% alike.
The rates of return were seemingly quite huge even when considered by the standards of high-risk, unregulated investments. Heading into this venture would mean that a significantly large amount of crude was to be purchased at a specific price, agreed on before purchase. However, after purchase, it would then be sold to another investor or for simpler terms, be traded within the oil trading sector.
Glenmuir Investments Ltd is a marketing firm which is also unregulated and is located in Sutton Coldfield. In March of 2017, they wrote to several SIPP investors and relayed that the operating oil company with whom they had several contracts, advised that they were currently undertaking a series of commercial actions. These actions were designed in many ways to deal with banking restrictions, operational issues which would therefore lead to regularly scheduled payments for production and to circumvent taxation matters.
As a result, a reply was sent to me which advised in the following matter that the new arrangements were not finalised and were imminent since it was within the hands of attorneys.