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, 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.
"As previously reported, 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. "
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.
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.
$68.5 MILLION PV-10
15,000 acres in the Permian Basin
$5.5 million in capital raise
At this time, our technology is commercially unproven, and the use of our technology by others is limited. The commercial success of our products will depend upon the adoption of our technology by the oil industry.
Date: March 16, 2015 /s/ GREGGORY BIGGER
Greggory Bigger
Chief Executive Officer
FLAWED TESTING RESULTS
Hummm, I wonder if the judges are aware of this info?
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.
15,000 acres, $68.5 million
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.
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.
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.
"As previously reported, 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. "
Enhanced Oil Resources Inc. Announces USD $5,500,000 Private Placement
HOUSTON , April 9, 2015 /CNW/ - Enhanced Oil Resources Inc. (TSX-V: EOR; OTCQX: EORIF) (the "Company") announces that it will conduct a non-brokered private placement (the "Private Placement") of common shares (the "Shares") of the Company at a price of CAD $0.05 per share to raise gross proceeds of up to USD $5,500,000 . The number of Shares to be issued will be determined by dividing the gross proceeds received by the US Dollar equivalent of CAD $0.05 on the Private Placement closing date.
"What is STWA quietly doing? "
DYING!
The SHAREPRICE has PLUMMETTED from $ 1.81 from August 2013 to .42.
The AOT, like many "products" before is a BIG FAIL.
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.
Enhanced Oil Resources Inc. (EOR.V) is pleased to announce that the three well lateral drilling program at the Company's wholly owned Milnesand San Andres oil field has commenced.
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.
As evidenced by NO ORDERS, NO POs, NO COMMITMENT AND A EQUIPMENT LEASE TERMINATED AFTER JUST 2 WEEKS, TransCanada is NOT INTERESTED IN THE AOT.
Unfortunately it's not economical and not commercially feasible.
IT WAS RETURNED FOR "ongoing refinement" over 4 months ago!
The AOT IS A BIG FAIL!
Hummm.....
Disputing lies with FACTS!
Enhanced Oil Resources Inc. (EOR.V) is pleased to announce that the three well lateral drilling program at the Company's wholly owned Milnesand San Andres oil field has commenced.
Just to dispute the lies.....
"As previously reported, 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. "
15,000 acres, $68.5 million
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.
Enhanced Oil Resources Inc. Announces USD $5,500,000 Private Placement
HOUSTON , April 9, 2015 /CNW/ - Enhanced Oil Resources Inc. (TSX-V: EOR; OTCQX: EORIF) (the "Company") announces that it will conduct a non-brokered private placement (the "Private Placement") of common shares (the "Shares") of the Company at a price of CAD $0.05 per share to raise gross proceeds of up to USD $5,500,000 . The number of Shares to be issued will be determined by dividing the gross proceeds received by the US Dollar equivalent of CAD $0.05 on the Private Placement closing date.
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, 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.
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.
FLAWED TESTING RESULTS
Hummm, I wonder if the judges are aware of this info?
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.
Obviously the promotional pump is on to raise cash. LESS THAN 5 months on hand.
"We have incurred negative cash flow from operations since our inception in 1998. As of September 30, 2014, we had cash of $2,641,734 and an accumulated deficit of $96,166,503. Our negative operating cash flow in 2013 and the first nine months of 2014 was funded primarily through exercise of stock purchase warrants and options for cash."
"No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing or cause substantial dilution for our stockholders, in case of equity financing."
"At September 30, 2014, the Company had cash on hand in the amount of $2,641,734. Management expects that the current funds on hand will be sufficient to continue operations through September 2015."
"Whether the goal is to stand out in a crowded market, mitigate a potential crisis, secure an additional round of funding or increase your institutional shareholder base, our team provides trusted counsel while delivering superior results."
As evidenced by NO ORDERS, NO POs, NO COMMITMENT AND A EQUIPMENT LEASE TERMINATED AFTER JUST 2 WEEKS, TransCanada is NOT INTERESTED IN THE AOT.
Unfortunately it's not economical and not commercially feasible.
IT WAS RETURNED FOR "ongoing refinement" over 4 months ago!
The AOT IS A BIG FAIL!
"Transcanada's actions are not consistent with a failed test, they invested millions on this too. "
Hummm......
On July 15, 2014, TransCanada notified the Company of TransCanada’s election to cancel, effective October 15, 2014.
http://www.sec.gov/Archives/edgar/data/1103795/000101968714002775/stwa_8k-ex1001.htm
TransCanada terminated the lease after only 2 weeks operation. The AOT IS A BIG FAIL!!!
$4.65 to .28. Nobody, WITHOUT exception, has EVER made money on this "stock". It's gone straight down for 10 years. The reason is because it was never a company. It was a promoted scam from there beginning. Look at the people involved and their track records of failures and lawsuits. Promoters, BOD members and management all have well documented failures and lawsuits.
"STWA and TransCanada mutually agreed that no conclusions could be reliably reached from the July 2014 test or from Dr. Tao’s preliminary report. "
Ready to Rock n Roll!!!
$$$$$$$$$$$$$$$$$$$$
$5.5 million in CASH
$68.5 million in oilfield reserves
15,000 acres in the Permian Basin
15,000 acres, $68.5 million
Enhanced Oil Resources Inc. owns and operates two large historic oil fields in New Mexico, the Milnesand & Chavaroo oil fields. Recorded Production of these two fields is in excess of 37 million barrels, representing approximately 10% of the oil in place. The Company plans to unlock the value in these resource-rich fields by increasing the efficiency of its operations, and by applying new and proven unconventional production technologies.
I have a GREAT seat!
$$$$$$$$$$$$$$$$$
. Adding shares!
Enhanced Oil Resources Inc. Announces USD $5,500,000 Private Placement
HOUSTON , April 9, 2015 /CNW/ - Enhanced Oil Resources Inc. (TSX-V: EOR; OTCQX: EORIF) (the "Company") announces that it will conduct a non-brokered private placement (the "Private Placement") of common shares (the "Shares") of the Company at a price of CAD $0.05 per share to raise gross proceeds of up to USD $5,500,000 . The number of Shares to be issued will be determined by dividing the gross proceeds received by the US Dollar equivalent of CAD $0.05 on the Private Placement closing date.
Ready to Rock n Roll!!!
$$$$$$$$$$$$$$$$$$$$
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.
From the SEC FILING....FLAWED TESTING RESULTS
Hummm, I wonder if the judges are aware of this info?
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.
At this time, our technology is commercially unproven, and the use of our technology by others is limited. The commercial success of our products will depend upon the adoption of our technology by the oil industry.
Date: March 16, 2015 /s/ GREGGORY BIGGER
Greggory Bigger
Chief Executive Officer
As evidenced by NO ORDERS, NO POs, NO COMMITMENT AND A EQUIPMENT LEASE TERMINATED AFTER JUST 2 WEEKS, TransCanada is NOT INTERESTED IN THE AOT.
Unfortunately it's not economical and not commercially feasible.
IT WAS RETURNED FOR "ongoing refinement" over 4 months ago!
The AOT IS A BIG FAIL!
Mr. Bigger states...
At this time, our technology is commercially unproven, and the use of our technology by others is limited. The commercial success of our products will depend upon the adoption of our technology by the oil industry.
Date: March 16, 2015 /s/ GREGGORY BIGGER