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Enhanced Oil Resources Inc. Announces USD $5.5mm dilutive placement that all assures no existing shareholder will ever have a chance of recovering their original investment. EOR further states that they intend to use the proceeds to pay management, promoters and past due bills and has no intentions of ever drilling another well or "building a pipeline" or doing a "CO2 flood".
Enhanced Oil Resources Inc. owns and operates two largely disappointing old oil fields in New Mexico, the Milnesand & Chavaroo oil fields. They have attempted to sell the fields but at this time the company reports all efforts to sell these fields have been unsuccessful much like the fields themselves.
Enhanced Oil Resources Inc. (EOR.V) is pleased to announce that they have successfully drilled investors for 99% losses and have plans to continue the long running of history of delivering consistent, year over year losses to a whole new group of shareholders coming in to dilute the bag holders that have been here for years.
It's easy to read the history of "buys" from shareholders here over the years. "Making $$$" implies one could sell at a profit. None here can especially when shares were bought at what amounts to $20 here.
One could purchase the entire float and have it triple and still be down 50%.
Nobody, WITHOUT exception has ever made money here except for management and promoter.
It will take $200 a share before any break even here. Nobody, WITHOUT exception has EVER made money here. Except the management and promoter.
.28 to .75. Somebody tripled their money. WITHOUT exception!!!
EOR is pleased to report that all attempts to promote their scam over the last 5 years have failed resulting in 99.5% to their investors while management and promoters have raked in huge gains at their expense. EOR is further pleased to report that they plan on continuing their rich history of developing huge losses for new, unsuspecting investors interested in investing in their latest "tax advantaged" (meaning complete write off in the first year) placement.
Please contact EOR for your chance to lose huge here as all others previously have.
The $100mm here was paid to promoters and former management shl. All part of the 99% losses in this scam. Nothing to show or it now but 15,000 acres of goat pasture and a tank of gas a day in total production. Really sad how people have been fleeced.
Enhanced Oil Resources Inc. owns and operates two largely disappointing old oil fields in New Mexico, the Milnesand & Chavaroo oil fields. They have attempted to sell the fields but at this time the company reports all efforts to sell these fields have been unsuccessful much like the fields themselves.
Enhanced Oil Resources Inc. (EOR.V) is pleased to announce that they have successfully drilled investors for 99% losses and have plans to continue the long running of history of delivering consistent, year over year losses to a whole new group of shareholders coming in to dilute the bag holders that have been here for years.
Enhanced Oil Resources Inc. Announces USD $5.5mm dilutive placement that all assures no existing shareholder will ever have a chance of recovering their original investment. EOR further states that they intend to use the proceeds to pay management, promoters and past due bills and has no intentions of ever drilling another well or "building a pipeline" or doing a "CO2 flood".
Enhanced Oil Resources Inc. Announces USD $5.5mm dilutive placement that all assures no existing shareholder will ever have a chance of recovering their original investment. EOR further states that they intend to use the proceeds to pay management, promoters and past due bills and has no intentions of ever drilling another well or "building a pipeline" or doing a "CO2 flood".
Enhanced Oil Resources Inc. (EOR.V) is pleased to announce that they have successfully drilled investors for 99% losses and have plans to continue the long running of history of delivering consistent, year over year losses to a whole new group of shareholders coming in to dilute the bag holders that have been here for years.
Enhanced Oil Resources Inc. (EOR.V) is pleased to announce that they have successfully drilled investors for 99% losses and have plans to continue the long running of history of delivering consistent, year over year losses to a whole new group of shareholders coming in to dilute the bag holders that have been here for years.
Enhanced Oil Resources Inc. owns and operates two largely disappointing old oil fields in New Mexico, the Milnesand & Chavaroo oil fields. They have attempted to sell the fields but at this time the company reports all efforts to sell these fields have been unsuccessful much like the fields themselves.
"As previously reported 5 years ago the Company initiated the first ever lateral drilling program at the Milnesand San Andres oil field. It failed miserably. As previously reported the company has agreed to a standstill agreement and has not drilled a well in years.
like they had a choice.
Enhanced Oil Resources Inc. Announces USD $5.5mm dilutive placement that all assures no existing shareholder will ever have a chance of recovering their original investment. EOR further states that they intend to use the proceeds to pay management, promoters and past due bills and has no intentions of ever drilling another well or "building a pipeline" or doing a "CO2 flood".
Enhanced Oil Resources Inc. (EOR.V) is disappointed to announce that the three well lateral drilling program at the Company's wholly owned Milnesand San Andres oil field has failed.
Commenced and failed 5 years ago.
What lies? The TRUTH is that this quote mentioning the "first ever lateral drilling program" was way back from several years ago!! It even says…"as previously reported" It was previously reported many years back and they failed.
We notice that the date has been intentionally omitted. Why? With only 50 barrels a day of production we can all see this "drilling program" was a failure. It's because the only fields left now are unproductive but it's all they have. 15,000 acres of goat pastures.
EOR announced…."THE COMPANY HAS AGREED TO STANDSTILL on the redevelopment of the fields" just last year. Why would we ever believe they initiated a drilling program especially when the company has made no mention of this since agreeing to this standstill?
The 3 well drilling program was from years ago. There is no activity at this company because there is no cash. Let's wait and see if they can successfully complete the wiping out of existing shareholders with this new highly dilutive capital raise.
Like I said…the date is always missing here when this is mentioned. That was from 5 years ago and they failed. The failure of that "drilling program" forced the company to sell more assets and production. Now there is no production left and they are stuck with worthless acreage.
Why leave the date off of this? Just another reason why people do not and will never trust anybody associated with this company. 99% losses and all of the right reasons.
Why won't they attempt any in drilling these historic fields? The company has mentioned over the years that they were "historic disappointments" so lets make sure people understand why there has been no successful attempt to drag sludge out of these forsaken wastelands. "15,000 acres in the Permian" is the stuff promoted scams are made of. EOR, after 99% losses , never an up year and no drilling activity certainly falls into this category.
Gotcha Trader Bro. Stay in touch.
.05 POST SPLIT!!! Gut punch for existing shareholders here that fell for the lies of previous management and continued trying to buy the proverbial "falling knife" as EOR SANK 99%. This $5.5mm raise (if successful) wipes out 50% of the poor lifers here holdings. Not a good day for them.
Probably exciting for the promoters that get paid in new shares but the company has not disclosed the compensation and to whom it goes to. Wonder how expensive this raise is? What are NET proceeds?? The company only mentions GROSS proceeds?
I thought you said they had $10mm in cash? WHERE DID THAT GO???? No reports of any new wells drilled. So now we hear that there is a $5.5mm (HIGHLY DILUTIVE WIPEOUT ROUND) financing and the $10mm has disappeared? There have been no financials since September of 2014???? Who funds a private placement of a company that has not drilled a well in years, has 99% losses and NEVER an up year, refuses to report quarterly and just saw $10mm in cash disappear???
Is it $10mm or $5.5mm? Just another reason why people don't trust this company or any involved with it!!
Shareholders here have been rocked by massive losses and rolled by self dealing management and promoters. They are certainly singing the blues. The music here is about to stop and there are no chairs left.
The funny thing is we keep hearing about these great fields that EOR owns but we have not heard anything any successful drilling in YEARS or any attempts to drill in the last several. The references to drilling programs are suspiciously not dated.
Just another reason why people don't trust this company or any associated with it.
Every shareholder has thrown in the towel here shl. The CEO bailed out because he probably figured lawsuits were coming. The "promotional company" doesn't have a pot to pee in. They are paid in shares which they sell into the market. What shareholder here wants more soon to be worthless shares of this scam?
Many here have been involved in lawsuits and there are more to come. Notice the new "capital raise " was "non brokered"?? It's not under the supervision or auspices of any regulatory agencies. It's a wild wild west, cowboy raise. If they close it it will be typical….50% dilutive and beneficial to insiders and promoters.
Gonna be interesting to see who gets paid and how much to raise it!
Not for those that have been buying every day for the last 5 years. It takes $200 to get people near even!! Some folks have been chasing this falling knife for so long they have no chance of ever seeing just a 98% loss from here!! They will all lose every dime including anybody investing now.
JMHO which has never been wrong here.
Last we heard it was $10mm. LOL!!! Not sure what to believe here other than more losses on this scam.
What happened to the pipeline that we assured was "being built"?
LOL…"FACT"…like that pipeline that was being built?? LOL! Nobody believes anything they hear out of anybody involved with this company.
Was it a "FACT" they were drilling 9 San Andres wells? Nope. "Fact" there was a big financing 3 years ago? nope. "FACT" that EOR had $10mm is cash? Nope.
Nobody trusts this company or any involved for all of the right reasons!!!
15,000 acres of washed up trash. This perpetual scam is being diluted 50% (if successful at raising $5.5mm) and the existing shareholders that have bought over the last 5 years need $200/share to break-even.
What's the PROMOTE on the $5.5mm attempted raise? Looks like the majority is going to catch up on payables again. They can't sell Milnesand or Chaveroo so gotta DILUTE!
Just as predicted.
Is the $5.5mm in cash a fact or just hope? It's 50% dilution so not really many :) :) faces out there after the 99% losses.
15,000 acres of trash left after everything of value was sold. 50 barrels of production left and these historically disappointing fields.
$6.8mm is PV-10m after the firesale and oil crash. It';s not $68.5mm.
Why can't EOR manage to drill a successful well in these "historic" oil fields and why have they not tried in years?
They suck as operators and the fields are "historic" disappointments. Shareholders here have been WIPED OUT listening to these bogus claims. This is a scam…just as I pointed out years ago.
I did….it was almost 3 years old. Oil was $100 and EOR owned Crossroads. May as well have been reading the Old Testament.