American Energy Impact, a US oil company, is looking for Chinese investors to take part in its Texas project that involved six oil wells.

Sources said the American oil company is currently working with Beijing based Global House Buyer to solicit capital from Chinese investors who are interested in six oilfields located in Crockett County, Texas.

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The six oil wells are currently owned by Canada's Molopo Energy and were put up for sale after the Canadian company was hit by the plummeting oil prices, which recently dropped below US $50 per barrel.

American Energy Impact seeks to accumulate capital worth US $4 million from Chinese investors for its US $8 million oil projects in Texas.

To attract Chinese investors unfamiliar with investing in oil wells in the United States, American Energy Impact offers a fixed income at annualized rates between 12 percent and 15 percent the form of quarterly bonuses.

Half of the funds, US $4 million, are divided into 40 units on average for Chinese investors to buy. After buying the shares, the investors will get an annual payment of 15 percent of their investment for three years, and the reward would be paid seasonally, according to the program.

The firm also offers unique investment deal that allows investors to exit the project when the global crude prices fall below US $30 per barrel.

American Energy Impact chairman Raymond Gerald Bailey said that the company pursues individual investors instead of corporate ones because the US $8 million investment is not a large project.

Bailey said his company chose to work with Global House Buyer to find investors from the real estate agent's client roster, some of whom have bought overseas properties through the Chinese firm.

Foreign investment in the energy industry is welcomed by the US government, and the biggest risk for investors now is the slump of oil prices.

TagsChina Oilfield Investment