I'm new to this message board. I stumbled across it the other day. I have been a professional investor most of my life. I have extensive knowledge of E&P companies. I seats on the board of two publicly traded companies, both with market caps over 350 million. I want to share my thoughts with you on this. I started to evaluate this company about 2 months ago, I have spoken to Mr. Wilmont on several occaisions. I understand the oilfield reclamation process and business very well. This parcell of land that EGOH holds is prime for development. There are approximently 160 wells that can be turned into productive wells. The rest will be salt water disposal wells and will aid in keeping the oilfield waterflood pressure up to around the required 800psi level. There is 12,000,000 barrels here (proved reserves) 12,000,000 x 85.50 = $1,026,000,000.00 rescource value. The total Woodbine field has close to 1 billion barrels recoverable ( as per Haliburton). This field that EGOH holds (Siler lease) with a good oilfiels service contractor,CAN BE BROUGHT ONLINE WITHIN 60 DAYS!!! THIS IS NOT A PIPE DREAM!! It is fact. With and average fluid cut rate of 4-7% per well this easily will yeild an average production rate of 7 bbls per well, per day, so 7 x 160 = 1120bbls per day @ 85.50 = $95,760.00 per day in revenue, 95,760.00 x 365 = 34,952,400.00 per year in sales. To operate the equipment fieldwide on 160 wells will come in at less than 100,000.00 per year and should only require salries for two employees to do so. This is a one sided trade, this is what you read and dream about. I started to accumulate shares last Thursday and stopped yesterday at just under 4,000,000 shares. I'm in and holding all this will take is some time to develop. I have time. Just my thoughts.
