I don't give people hell, I just tell them the truth and they think it's hell. H. Truman
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"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. "
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.
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
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.
These 2 fields are valued at $54.2 million
$9.6 million in CASH!
Per audited annual financials
LMAO. 4 years of average revenue exceeding $10 MILLION doesn't sound like a scam me. Increasing reserves to $54.2 million.
Cash of $9.6 MILLION
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.
The Company, through its wholly owned subsidiary Ridgeway Arizona Oil Corp., owns and operates an approximate 100% interest in various units and leases within the 25,000 acre Chaveroo field. The Company has an average net revenue interest of approximately 75.5%.
The Chaveroo San Andres field was discovered in 1960 and to date has produced over 25 million barrels of crude oil. The field produces from fractured, low porosity dolomites at a depth of approximately 4,500 feet. Since purchasing interest in the field, the Company has upgraded surface facilities, reactivated several additional wells and plugged and abandoned numerous wells. Current production at Chaveroo is approximately 30 bopd. As with the Milnesand field, there is a potential to increase recovery efficiencies in the Chaveroo field through the drilling of horizontal infill wells. These horizontal wells could also be utilized for future enhanced oil recovery projects.
The Company, through its wholly owned subsidiary EOR Operating Company, owns and operates a 100% interest in the 4,880 acre Milnesand San Andres Unit and a 100% interest in the adjacent 1,800 acre Horton Federal lease. The Company has an average net revenue interest of approximately 80%.
The Milnesand San Andres field was discovered in 1959 and to date has produced roughly 12 million barrels of crude oil. The field produces from fractured, low porosity dolomites at a depth of approximately 4,700 feet. Subsequent to purchase, the Company has upgraded surface facilities, reactivated several wells, converted several wells to water injectors and completed a pilot CO2 flood over a limited area in the north portion of the field Current production at Milnesand is approximately 60 bopd. There is a potential to increase recovery efficiencies in the Milnesand field through the drilling of horizontal infill wells. These horizontal wells could also be utilized for future enhanced oil recovery project.
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.
Recorded Production of these two fields is in excess of 37 million barrels, representing approximately 10% of the oil in place.
Enhanced Oil Resources trades on 2 different exchanges
EOR ON THE CDNX AND EORIF ON THE U.S. MARKET
ITS A CANADIAN STOCK WITH ASSETS IN THE PERMIAN BASIN
$54.2 million in RESERVES
Trading in the .30s, just as predicted
The AOT is a BIG FAIL
I'll keep posting FACTS so you can get caught up!
$54.2 million in RESERVES, 15,000 acres
Sold off 800 acres for $10,000,000 last year
Revenue for the last 4 years averaged more than $10 MILLION a year!
Sorry for the outdated post.. Now down 80% since August 2013. .36 new low
The SHAREPRICE has PLUMMETTED from $ 1.81 from August 2013 to .42.
The AOT, like many "products" before is a BIG FAIL.
GREY SHEET-Delinquent Filings.
"In September 2014, the Company amended its articles of incorporation for the purpose of increasing the number of common shares it is authorized to issue from 300,000,000 to 500,000,000 and to create a Class A Preferred Stock with 25,00,000 authorized shares"
Will trading start this weeks? .0025 a share?
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."
Issued shares climbing. 57,999,000.
And they have 15,000 acres, valued at $54.2 MILLION after selling off only 800 acres from Crossroads.
I guess I'll have to post more facts for you!
LMAO, YOURE LOOKING AT THE WRONG TICKER. IHUB HAS IT WRONG. DID YOU READ THE AUDITED FINANCIALS YET?
$9.6 MILLION IN CASH
$54.2 MILLION IN RESERVES
Joey your WRONG, I TOLD YOU THEY HAVE $9.6 MILLION IN CASH
$54.2 MILLION IN RESERVES
LAST 4 years, REVENUES OF MORE THAN $10 MILLION
HAVE YOU READ THE AUDITED FINANACIALS?
Kinder Morgan CO2 Gas Purchase Contract
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.
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
PV-10 $54.2 MILLION
CASH ON HAND in EXCESS OF $9.6 MILLION
15,000 acres in the Permian Basin
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.
9. SUBSEQUENT EVENTS On October 1, 2014, the Company’s shareholders authorized an amendment to the Company’s Articles of Incorporation for the purpose of increasing the number common shares the Company is authorized to issue from 300,000,000 to 500,000,000 and to authorize the number of preferred shares the Company can issue to 25,000,000. The Amendment to the Articles has been filed with the Secretary of State but is not yet effective.
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."
Issued shares climbing. 57,999,000.
Newly issued Convertible notes. HUMMM after 7 years. Add another 140,000,000 shares
.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)
.......permits the holder to convert.....into shares or common stock at a conversion price of $0.0025 per share.
SHL468 you need to read the CURRENTLY AUDITED FINANCIALS!
$9.6 MILLION IN CASH
OVER $10 MILLION AVERAGE REVENUE LAST 4 YEARS!
Again your WRONG. $9.6 MILLION IN CASH!
SHL468 your WRONG, no new shares have been issued in more than 4 years.
Boomer, you are wrong
They do have $9.6 MILLION in CASH and RESERVES of $54.1 MILLION.
Yes, revenues have averaged more than $10 million a year for the last 4 years. They only sold off a small portion of the leases, 800 acres of the 15,000 acres. Yes, proceeds of $10,000,000 for 800 acres!!!
The $54.1 million is exclusive of the Crossroads.
Recorded assets in excess of $58 MILLION.
All current AUDITED INFO!
The CURRENT AUDITED FINANCIALS. $9.6 MILLION IN CASH!
Sorry Boomer you are WRONG. CASH ON HAND OF $9.6 MILLION!
RESERVES OF $54.2 MILLION.
Nice to see CURRENT NET PROVED RESERVES!
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
Nice to see CURRENT RESERVES OF $54.2 MILLION.
Nice to see CURRENT CASH OF $9.6 million
LMAO. WHO HAS 99% losses?
I'm making $$$$$!!!
Adding shares!