Ink Recipie

Hi /sci/ I'm trying to come up with a recipie for dry-erase ink.

My research says d.e. ink's made up of three parts: solvent, pigment, and an oily silicone polymer. (The last ingredient being the key here: the polymer spreads throughout the solvent, and prevents the pigment from sticking to the smooth surface)

I'm thinking of using water, silicone oil, and watercolors.

"Silicone oil" is a common name for various organic silicone polymers that are commonly sold as lubricants of fine machine parts (e.g. airguns and printers). I am having trouble finding any on sale around where I live, and I do not want to order through the net until I'm sure the ink'll work, chemically speaking.

Is there a flaw in the setup? Is silicone oil soluble in water?
What of the pigment? Should I go ahead with the watercolors, or should I look around for pure pigments?

Most oils are hydrophobic, so I doubt it'll dissolve in water, but I could always be wrong.  Maybe try an organic solvent like benzene (in b4 cancer)?

4tran has saved the day.

There are other non-polar solvents that are a whole lot easier to get a hold of than benzene.  Like ones that aren't carcinogenic.

Pentane, for example.