On Sep 28, 9:29*pm, Bill Brown <brow...[at]longwood.edu> wrote:
- quote -

Thank you, all, for your responses. How silly of me to ever consider
such a thing. How smart of me to check it out with you folks.

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On Sep 28, 4:10*pm, ddl[at]danlan.*com (Dan Lanciani) wrote:
- quote -

Dan, you've persuaded me. It's a scam. Thanks for the heads up.

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ritpg <ritpg[at]hotmail.com> wrote in news:e02df6d5-e5c6-474d-acc7-
55b35b48276f[at]a70g2000hsh.googlegroups.com:

- quote -

It's a credit crunch, so asking rtpg/Terry for money is good strategy for
Rockwell, but they really should go for pockets with more than a measly
100K, unless they aim for the gullible with fewer countermeasures.

--
Best regards
Han
email address is invalid

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In article <WWBDk.22722$J63.18944[at]newsfe08.iad> , ritpg77[at]gmail.com (ritpg) writes:

| I was also told that the price of NG would have to slip to $3 for me to lose
| money on the deal. The "guaranteed - I mean projected ROI" will be 18% the
| first year increasing to 30% for each ensuing year. I would be capped at a
| 200% return and the period of the partnership would be 3 to 5 years.

Whenever I hear about caps like that I recast the proposal as follows:
We have a real long shot that is so risky that we don't want to use
our own money, but we are perfectly happy to lose 100% of your money.
However, in the extremely unlikely event that the project really takes
off and starts generating huge profits we want you out of the picture.
What's the point of a high-risk venture if you can't at least dream of
being set for life?

I did own a gas company limited partnership for a while. The paperwork
was annoying and I didn't make a lot of money. There were always little
bits of income on the K-1 to be reported here and there, but I think they
were actually trying to be a tax shelter so it was mostly suspended
passive losses from depletion and such. I suppose it could be less of
a pain in an IRA.

Dan Lanciani
ddl[at]danlan.*com

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On Sep 28, 1:12*pm, Han <nob...[at]nospam.not> wrote:
- quote -

Because all the deep pockets are sewn up right now?????

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"ritpg" <ritpg77[at]gmail.com> wrote in
news:WWBDk.22722$J63.18944[at]newsfe08.iad:

- quote -

Nice-looking website.

Pincipals of the company seem to be
<http://www.rockwellenergy.com/about.html> :
Ronald (RJ) Abercrombie - CEO
Mr. Abercrombie is a professional management excutive ...

Greg Shindler - President
Mr. Shindler has been involved in drilling ...

Jim Shindler - Advisor
SHINDLER / CUMMINS, INC.
Founded in 1975 Shindler/Cummins, Inc. was an integrated real estate
brokerage firm ...

Hmmm. If this is such a great investment opportunity, what about asking
deep pockets like oil and nat. gas companies to participate? Why
"little" folks like you?

--
Best regards
Han
email address is invalid

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ritpg wrote:
- quote -

researched it), one things stands out, that you would have to take the $
from your IRA. IF.... you are not rolling it over into another IRA that
owns the Rockwell, you'll be up (the) creek with a taxable paddle.

ChEAr$,
Harlan Lunsford, EA n LA

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I have been "invited" by a company named Rockwell Energy
(http://www.rockwellenergy.com/) to join a limited partnership. The fact
that I have never invested in anything riskier than a mutual fund based on
the value of gold, I would think I have no business even considering such a
gamble. But I figure the least I can do is a little homework before I make
my final decision.

The minimum investment is $100K. Participation would involve moving the
$100K from my current IRA to a Sunwest Trust IRA where I would now be
subject to an application fee of $50 and annual fee of $190 plus a fee of
$10 per transaction after the first transaction per year for a single asset
account. For a multiple asset account, instead of the $190 annual fee, I
would be charged 0.5% of the asset value if it is more than $38K. I assume
that as long as I limit my Sunwest portfolio to the Rockwell LP, I would not
be subject ot the multiple asset account fees.

The money they are collecting would be used to acquire the rights to
additional natural gas wells within the U.S. and to outfit all the wells
with a passive dehydration system (PDS) (see cpshouston.com) that is alleged
to be greener and more efficient than current extraction methods. As I
recall, I was told that 30% of the NG is lost using less advanced extraction
methods.

I was also told that the price of NG would have to slip to $3 for me to lose
money on the deal. The "guaranteed - I mean projected ROI" will be 18% the
first year increasing to 30% for each ensuing year. I would be capped at a
200% return and the period of the partnership would be 3 to 5 years. I do
not understand why the period would be a range of years. I would think it
would be a specific time period, for example 3 years, and that the
partnership would end after 3 years or when the 200% cap was reached,
whichever happens first. I'm also told I would have the first right of
refusal for future partnerships.

Rockwell currently has the rights to 20 wells in the Houston area, 11 of
which are already outfitted with the PDS extraction hardware. Some number
of the 20 are already producing NG and I could expect my first check some
time in October (which I would arrange to have deposited in my Sunwest IRA).

I am far from a wealthy person. With all assets included, I barely make the
minimum portfolio requirement of $1M and a $100K loss would be significant
for me. Of course, I'm asking myself the question, why me and why now? I
figure this is related to the current difficulty in getting loans.
Companies, who would normailly seek bank loans, are now being forced to
acquire capital in atypical ways. To me this could mean there might be
reasonable LP opportunities for folks like myself that would not normally
exist.

Last night I received an e-mail from Sun Trust with all the paperwork and
documentation needed to complete the transaction. I am reviewing it now but
of course, I am not an attorney.

My instincts tell me to run, not walk, away from this. But I know there are
people out there in the news groups who know much more than I ever will
about such investments and why not get their opinions? I am posting this to
a broad spectrum of NGs because I know there are many considerations in
making such an investment (investment risk, legal, energy, taxes, etc.). If
you feel I am posting this to an inappropriate NG, I apologize. If you can
suggest an NG I have missed, please let me know. I will try to post all
future articles on this matter to the appropriate NGs based on the feedback
I receive.

I will be contacted by a Rockwell representative Monday night and I'm sure
it'll be one of those "I must have your commitment today" deals (which will
end it right there if it happens). Any insights, warnings, cautions, advice
you may want to give me will be greatly appreciated. Thanks so much for
taking the time to read this.

Terry

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >