I don't give people hell, I just tell them the truth and they think it's hell. H. Truman
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Current AUDITED financials state $9.6 MILLION in CASH and ASSETS of $58 MILLION
Recorded Production of these two fields is in excess of 37 million barrels, representing approximately 10% of the oil in place.
The Company has initiated the first ever lateral drilling program at the Milnesand San Andres oil field, located in Roosevelt County, New Mexico. The initial program of 3 horizontal wells is expected to take approximately 30 to 45 days to complete and will be followed by extensive testing and potentially, fracture stimulation.
The new horizontal drilling program added 464 MBO (372 MBO net to EORI) proved undeveloped reserves.
37 MILLION BARRELS OF OIL
Enhanced Oil Resources Inc. owns and operates two large historic oil fields in New Mexico, the Milnesand & Chavaroo oil fields. Recorded Production of these two fields is in excess of 37 million barrels, representing approximately 10% of the oil in place. The Company plans to unlock the value in these resource-rich fields by increasing the efficiency of its operations, and by applying new and proven unconventional production technologies.
In March 2010, the Company executed a cancellable five-year CO2 purchase and delivery agreement with Kinder Morgan CO2 Company, L.P. (Kinder Morgan) for the purchase of CO2 by the Company for use in the Company’s tertiary oil projects in the Permian Basin. The contract represents a take or pay commitment for a total of 27.4 bcf of CO2 to be purchased over a five year period commencing no later than January 1, 2018 (as amended February 28, 2014). The maximum daily rate required to be purchased under the contract is 20 million cubic feet per day during the third year. The purchase commitment and obligation to pay, as amended, is cancellable on or before December 31, 2016, with no termination penalty. The cost of CO2 will fluctuate based on the price of oil plus transportation tariffs.
HOUSTON, Enhanced Oil Resources Inc. (TSX-V: EOR; OTCQX: EORIF) today announced that it has entered into a Letter of Intent with Schlumberger Technology Corporation (Schlumberger) whereby Schlumberger, at its own cost, will conduct an in-depth technical evaluation of the potential redevelopment of the Milnesand and Chaveroo oil fields, located in Chaves and Roosevelt Counties, New Mexico. Schlumberger will utilize in-house experts in primary, secondary and tertiary recovery with the ultimate goal of deciding the best way forward, if appropriate, to recover additional oil reserves contained within these fields.
The Company’s net proved reserves at December 31, 2014 and 2013, respectively, were 4.8 million and 3.6 million barrels of equivalents with a net present value of $54.2 million and $68.5 million using a 10% discount rate for 2014 and 2013.
PV-10 $54.2 MILLION
"I have a decision to make : Do I buy more stock next month or Do I go to the ASM ??"
I would sell and never look back, this has all the signs of a SCAM.
SOLD 800 acres for $10 MILLION.
EOR HOLDS 15,000 acres valued at $54.2 MILLION.
$9.6 MILLION IN CASH
Yup, 4 YEARS OF FACTS!
$10 MILLION AVERAGE ANNUAL REVENUES FOR LAST 4 years!
Financials filed by current management states they are starting out with $38,636 in assets and $828,568 in debt. $348,000 of that debt is convertible at .0025 a share, adding another 140,000,000 shares.
.......permits the holder to convert.....into shares or common stock at a conversion price of $0.0025 per share.
In May 2014, the Company received a conversion notice requesting the issuance of 4,781,200 shares upon conversion of $11,953 of the note’s outstanding balance.
Unless you can show me on the financials filed by the new management where it states that is incorrect/old information.
The attorney letter states the older filings are accurate.
Annual Report for the period ending 12/31/14 May 12, 2015
Supplemental Information ending 9/30/14 December 6, 2014
Supplemental Information ending 9/30/14 December 6, 2014
Quarterly Report for the period ending 9/30/14 November 13, 2014
Quarterly Report (restated) for the period ending 6/30/14 October 27, 2014
Quarterly Report (restated) for the period ending 3/31/14 October 27, 2014
Quarterly Report for the period ending 6/30/14 August 14, 2014
Quarterly Report for the period ending 3/31/14 June 9, 2014
Quarterly Report (amended) for the period ending 3/31/14 May 15, 2014
Quarterly Report for the period ending 3/31/14 May 11, 2014
Annual Report for the period ending 12/31/13 April 12, 2014
After reasonable investigation I have no reason to believe that, at the time such information was submitted to OTC Markets, the information contained any untrue statement of material fact or failed to state a material fact necessary in order to make any statement proffered, in light of the circumstances under which it was made, not misleading.
".0025 a share conversion rate,
"In May 2014, the Company issued a replacement convertible promissory note to the holder of this debt in the principal amount of $335,850, reflecting the principal and accrued interest of the August 2002 note payable through March 31, 2014. (Now $348,000 or 140 MILLION SHARES)"
Yet, they have $9.6 MILLION IN CASH and $54.2 MILLION IN RESERVES (reserves increased because of drilling and are based on lower oil prices)
"remember the financials filed were from the former management and were required by the MMs as a prerequisite for trading"
So are you saying because previous management filed them they don't have to be accurate?
Lots of inconsistencies on this one. May have to make some formal inquiries.
Nice deal
Item 3.02 Unregistered Sales of Equity Securities.
On May 11, 2015, we completed the sale to five investors in a private offering for an aggregate 4,300,000 shares of our restricted common stock at a purchase price of $0.25 per share. We received an aggregate consideration of $1,075,000 for the securities. We did not pay any placement fees in connection with the sale of these securities. We did not grant any registration rights to the purchasers in this offering.
The securities in the offering were issued under the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933 and the rules and regulations promulgated thereunder. The issuance of securities did not involve a “public offering” based upon the following factors: (i) the issuance of the securities was an isolated private transaction; (ii) a limited number of securities was issued to a single purchaser; (iii) there were no public solicitations; (iv) the purchaser represented that it was an “accredited investor”; (v) the investment intent of the purchaser; and (vi) the restriction on transferability of the securities issued.
On April 1, 2015, a major shareholder lent us $150,000 pursuant to a 12% promissory note due September 30, 2015, convertible at $0.25 per share. In addition, the major shareholder received 150,000 warrants, with a term of three years at an exercise price of $0.50 per share. The securities were issued under the exemption from registration provided by Section 4(a)(2) of the securities Act of 1933 and the rules and regulations promulgated thereunder. The issuances of securities did not involve a “public offering” based upon the following factors: (i) the issuances of securities were an isolated private transaction; (ii) a limited number of securities were issued to a single purchaser; (iii) there were no public solicitations; (iv) the purchaser represented that it was an “accredited investor”; (v) the investment intent of the purchaser; and (vi) the restriction on transferability of the securities issued.
In February and March, 2015, we issued 243,000 restricted shares of common stock to two consultants as compensation for services. The securities were issued under the exemption from registration provided by Section 4(a) (2) of the Securities Act of 1933 and the rules and regulations promulgated thereunder. The issuance of securities did not involve a “public offering” based upon the following factors: (i) the issuance of securities was an isolated private transaction; (ii) a limited number of securities were issued to a limited number of purchasers; (iii) there were no public solicitations; (iv) the investment intent of the purchasers; and (v) the restriction on transferability of the securities issued.
The Company has initiated the first ever lateral drilling program at the Milnesand San Andres oil field, located in Roosevelt County, New Mexico. The initial program of 3 horizontal wells is expected to take approximately 30 to 45 days to complete and will be followed by extensive testing and potentially, fracture stimulation.
The new horizontal drilling program added 464 MBO (372 MBO net to EORI) proved undeveloped reserves.
37 MILLION BARRELS OF OIL
Enhanced Oil Resources Inc. owns and operates two large historic oil fields in New Mexico, the Milnesand & Chavaroo oil fields. Recorded Production of these two fields is in excess of 37 million barrels, representing approximately 10% of the oil in place. The Company plans to unlock the value in these resource-rich fields by increasing the efficiency of its operations, and by applying new and proven unconventional production technologies.
LMAO, who said they are old maps.
NICE RESERVE REPORT $54.2 MILLION
NICE $9.6 MILLION IN CASH!
Boomer you are WRONG. READ THE AUDITED FINANCIALS.
THE $54.2 MILLION IN RESERVES IS NOT BASED ON $100 oil, but much less.
And they have $9.6 MILLION!
The Company’s net proved reserves at December 31, 2014 and 2013, respectively, were 4.8 million and 3.6 million barrels of equivalents with a net present value of $54.2 million and $68.5 million using a 10% discount rate for 2014 and 2013.
PV-10 $54.2 MILLION
OUCH, can someone sticky those posts?
Quite enlightening........
THIS ONE JUST MOVE TO A OFFICIAL SCAM!
Yet the latest AUDITED financials state $9.6 MILLION in CASH and ASSETS of $58 MILLION
Share price already dropped to $1.00. Still extremely over priced.
I guess it all depends on what you read, I would hate to be the attorney who stated its all accurate information.
Jul 11, 2014
OTC Disclosure & News Service
Beverly Hills, CA -
BEVERLY HILLS, CA – The Motion Picture Hall of Fame, Inc. (“Company”) (OTC:MHFM - MHFMD) is pleased to announce its name change to BEVERLY HILLS GROUP, INC.
The symbol for BEVERLY HILLS GROUP, INC. will remain the old symbol for a period of 20 days in accordance with FINRA rules and regulations. Following that period, the new symbol for BEVERLY HILLS GROUP, INC. will become BHGI.
In anticipation of furthering a new long term corporate strategy, BEVERLY HILLS GROUP, INC. has now completed its reorganization evolving into a Diversified Holding Company, following a new path of growth through acquisition to increase shareholder value.
In addition to the name change, and in furtherance of the strategic goals of the company, a stock split of 1:30, an increase in the authorized number of shares and the creation of two preferred classes of stock were also approved.
The following are the Directors and Officers of BEVERLY HILLS GROUP, INC.:
Jacob Thomas has been appointed Chairman and a Director;
Robert Alexander will remain on as a Director, President and Chief Executive Officer;
Paul Shively has been appointed as a Director, Chief Financial Officer, Secretary and Treasurer;
More additions of officers and directors are anticipated shortly.
BEVERLY HILLS GROUPS, INC. is excitedly looking towards the future and is diligently working on acquiring multiple, established companies to create multiple subsidiaries under the newly organized BHGI company.
Upon completion of these acquisitions we will provide forward-looking guidance as to our projected earnings and as to our strategy to grow through additional acquisitions to support and expand the businesses being acquired.
CONTACTS
Paul Shively
Secretary
(310) 984-1691
http://beverlyhillsgroupinc.com
COMPANY PROJECTS AND MATERIAL AGREEMENT TERMS
1) COVENANT MONDO
We agreed to:
- Participation in 3,986 net acres - 2 miles adjacent to Covenant Field
- Sevier County, Utah T22S-R1W - Overthrust Belt
- Legal ownership interest: We own working interest in the oil and gas leases which comprise the Covenant Mondo Prospect, subject to participation/contribution requirements on a well by well basis. Well is expected to Spud in early March 2015.
First Well:
- Working interest before tanks - 14%.
- Working interest after tanks - 11.6667%
- Net Revenue Interest - 8.9833%
- On same seismic and gravity data set as Covenant Field discovery.
- Drilled a dry hole. Second well currently drilling. Expected to be 800' hi to live oil shows in offset well.
- Navajo Sandstone - reservoir characteristics 12-15% Porosity, 100 mD permeability
- Terex has paid for a 14.00% working interest in first two wells; spudded first in 2014, resulted in a dry hole.
2) WATER DISPOSAL FACILITY
- Sioux County, Nebraska, T25N-R56W Sec. 13
- Legal ownership interest: Terex purchased 100% of the rights, title and interests to the properties located in Sioux County, Nebraska. 240 acres
- Letter of Intent subject to permitting for purchase of a well with 7 inch casing for a water disposal well.
- Current rates for water disposal are $1.65 per barrel. Disposal demand is very high.
- State of Nebraska - Approval from state of Nebraska for water disposal well expected March 2015.
- Surface use agreement negotiated for 5.00% royalty, 95% LNRI.
- Potential injection rates up to 15,000 BWPD.
3) COLE CREEK FIELD, WY
- Cole Creek Field located in SW margin of Powder River Basin, Natrona and Converse Counties, WY. Shannon sand reservoir is one of the main oil producing formations in the field.
- Legal ownership interest: Farmout Limited to one zone - Shannon Leases are held by production to other producers. We agreed to drill two Shannon Formation wells in the prospect area of the Cole Creek Unit under a Farmout Agreement within 24 months of September 30, 2014.
- There are up to 7 undrilled Shannon locations on the periphery of the field.
- Red Hawk owns 50.9% of the field and farmed out interest to our company on a 90/10 basis for 750,000 shares stock, 77% Net Revenue Interest
- Alpha Development owns 17.5% and Slawson owns 31.6% working interests.
4) DEVELOPMENT OIL WELL PROSPECT
- We acquired 240 acres, Sioux County, Nebraska, T25N-R55W
- Purchase of a producing oil well, that when initially drilled tested 24-30 BOPH from two different stratigraphic horizons. The well produced 30,000 barrels of oil and still produces intermittently. The
-7-
prospect is for two wells to be located in an updip direction structurally from the prior well that flowtested 720 BOPD from the Virgil Formation.
- The formation was damaged in the drilling and completion stages, and only produced a fraction of what it tested for.
- We have designed a drilling and completion program to prevent this formation damage from occurring.
- Executed Purchase and Sale for purchased 100% working interest and 75% NRI in the well and key acreage for $50,000 and 400,000 options @ $0.25 expiring September 30, 2017.
- There was no production from the wells in 2014.
5) BURKE RANCH UNIT
- Natrona County, Wyoming
- Dakota CUM Production = 5,551,000 BO to date - not currently producing
- Additional development locations can be drilled on 40 acre spacing (It has been developed on 80 acre spacing) and management believes downspacing represents significant potential upside.
- Mapped structural anomalies in the Tensleep and Frontier Formations represent additional exploration targets with potential reserves.
- Terex purchased Burke Ranch Unit for $400,000 and 400,000 shares of restricted common stock.
- Legal Ownership Interest: assignment of Unit/Leases
- Working interest inside the Unit - 100% - 1,920 gross acres - (Unit HBP) Shut In
- NRI inside the Unit - 80% - Working interest outside the Unit - 100% - 2917.00 gross acres - Various leases with terms expiring 1 to 3 years with renewal options
- NRI outside the Unit - 80%
- Total Acres - 4,837 gross
6) NIOBRARA/CODELL ACREAGE
- Legal ownership interest: none - prospects being sought
- Participation in Wattenberg Niobrara/Codell acreage that is in the heart of the known thermally mature Niobrara/Codell productive trend. The acreage has significant Niobrara and Codell potential, with 8-16 horizontal wells per section likely, surrounding local oil field development has demonstrated. Local wells
7) MILLER PROSPECT, KIMBALL COUNTY, NEBRASKA
(SUBJECT TO PARTICIPATION AGREEMENT)
- An agreement to participate in the drilling of two development wells in Kimball County, Nebraska. One offsets a J Sand Field that has produced oil and the other offsets several D Sand producers in an updip direction. Management believes the prospect represents low risk development wells in a prolific area of the DJ Basin. (40 Acres)
- Legal ownership interest:
Under the Participation Agreement we may earn as follows:
- Working Interest D Sand 100%
- Net Revenue Interest D Sand 87.5% - Working Interest J Sand 10%
- Net Revenue Interest to be earned by participation - J Sand 80%
Sold 800 acres for $10,000,000
15,000 acres in the Permian Basin, valued at $54.2 MILLION.
$9.6 MILLION IN CASH
$10 MILLION AVERAGE ANNUAL REVENUES FOR LAST 4 years!
LMAO, ALL CURRENT INFO FROM AUDITED FINANCIALS
Actually been there. Walk up to receptionist. Behind that is conference room with maps and drilling plans on the wall. Andrews office is left. Kyles office is to the right.
$54.2 million in RESERVES
DONT FORGET ABOUT THE $9.6 MILLION IN CASH!
.0025 a share conversion rate,
In May 2014, the Company issued a replacement convertible promissory note to the holder of this debt in the principal amount of $335,850, reflecting the principal and accrued interest of the August 2002 note payable through March 31, 2014. (Now $348,000 or 140 MILLION SHARES)
???? It's the note holders that gave notice. Management has nothing to do with it.
The convertible notes already existed.
"The Company is initiating the first ever lateral drilling program at the Milnesand San Andres oil field, located in Roosevelt County, New Mexico. The initial program of 3 horizontal wells is expected to take approximately 30 to 45 days to complete and will be followed by extensive testing and potentially, fracture stimulation. "
The new horizontal drilling program added 464 MBO (372 MBO net to EORI) proved undeveloped reserves.
37 MILLION BARRELS OF OIL
Enhanced Oil Resources Inc. owns and operates two large historic oil fields in New Mexico, the Milnesand & Chavaroo oil fields. Recorded Production of these two fields is in excess of 37 million barrels, representing approximately 10% of the oil in place. The Company plans to unlock the value in these resource-rich fields by increasing the efficiency of its operations, and by applying new and proven unconventional production technologies.
The Company’s net proved reserves at December 31, 2014 and 2013, respectively, were 4.8 million and 3.6 million barrels of equivalents with a net present value of $54.2 million and $68.5 million using a 10% discount rate for 2014 and 2013.
PV-10 $54.2 MILLION
Should have used "will be", since they already have notice
Already issuing shares on convertible note. Beware another 140 million at .0025.
"In May 2014, the Company received a conversion notice requesting the issuance of 4,781,200 shares upon conversion of $11,953 of the note’s outstanding balance."
At .0025
In March 2010, the Company executed a cancellable five-year CO2 purchase and delivery agreement with Kinder Morgan CO2 Company, L.P. (Kinder Morgan) for the purchase of CO2 by the Company for use in the Company’s tertiary oil projects in the Permian Basin. The contract represents a take or pay commitment for a total of 27.4 bcf of CO2 to be purchased over a five year period commencing no later than January 1, 2018 (as amended February 28, 2014). The maximum daily rate required to be purchased under the contract is 20 million cubic feet per day during the third year. The purchase commitment and obligation to pay, as amended, is cancellable on or before December 31, 2016, with no termination penalty. The cost of CO2 will fluctuate based on the price of oil plus transportation tariffs.
HOUSTON, Enhanced Oil Resources Inc. (TSX-V: EOR; OTCQX: EORIF) today announced that it has entered into a Letter of Intent with Schlumberger Technology Corporation (Schlumberger) whereby Schlumberger, at its own cost, will conduct an in-depth technical evaluation of the potential redevelopment of the Milnesand and Chaveroo oil fields, located in Chaves and Roosevelt Counties, New Mexico. Schlumberger will utilize in-house experts in primary, secondary and tertiary recovery with the ultimate goal of deciding the best way forward, if appropriate, to recover additional oil reserves contained within these fields.
$9.6 MILLION IN CASH
$54.2 MILLION IN RESERVES
AVERAGE REVENUE TOPS $10 MILLION 4 YEARS.
No it's not. The OS is already reported to be 58 MILLION. OVER 5 million was already issued in January, it now 5 months later!
We know 140 million can be converted at .0025 from the 348,000 in convertible debt.
TOXIC. Very TOXIC.
FACTS ARE FACTS 4 years of average revenue exceeding $10 MILLION
Increasing reserves to $54.2 million.
Cash of $9.6 MILLION
The real deal!!!!
BIGGER and TRANSCANADA REPORTED FLAWED TESTING RESULTS
Bigger stated in SEC filing:
Upon review of the July 2014 test results and preliminary report by Dr. Tao, STWA and TransCanada mutually agreed that this initial test was flawed due to, among other factors, the short term nature of the test, the inability to isolate certain independent pipeline operating factors such as fluctuations in upstream pump station pressures, and limitations of the AOT device to produce a sufficient electric field to optimize viscosity reduction. Although Dr. Tao’s preliminary report indicated promising results, STWA and TransCanada mutually agreed that no conclusions could be reliably reached from the July 2014 test or from Dr. Tao’s preliminary report.
HOUSTON, Enhanced Oil Resources Inc. (TSX-V: EOR; OTCQX: EORIF) today announced that it has entered into a Letter of Intent with Schlumberger Technology Corporation (Schlumberger) whereby Schlumberger, at its own cost, will conduct an in-depth technical evaluation of the potential redevelopment of the Milnesand and Chaveroo oil fields, located in Chaves and Roosevelt Counties, New Mexico. Schlumberger will utilize in-house experts in primary, secondary and tertiary recovery with the ultimate goal of deciding the best way forward, if appropriate, to recover additional oil reserves contained within these fields.