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Sorry ...restricted cash is NOT cash that can be used to drill !!! But then again you know that dont you ??? beware of this scam ....
Thats convenient isnt it ??? The COMPANY used the term in their latest report 4 million unrestricted....balance restricted....what do you think the word restricted means ?????????????
What is your explanation of what restricted cash is ???
No there's NOT "cash on hand in excess of $9.6 million"!!!! COMPLETELY MISLEADING!!! RESTRICTED CASH IS NEVER, EVER, AT ANY POINT CONSIDERED "ON HAND"!!!!!
BE CAREFUL PEPOLE!!! This is why see people do not trust this company or involved with it!!
Yup This 800 acres was most of the production....yup 4 million unrestricted cash as of 6 months ago....a lot less now
Wow....102.00 its on a tear !!!
From EOR Management statement available from their website " . The Crossroads field was the Company’s largest producing field. "
I know that also....it produces about 60 BOD !!!
I am not talking about the amount acreage sold I am talking about the fact they have sold most of their oil producing property...doesn`t matter if it was 1 acre......not much production left.....but of course you know that dont you !!!!
Too bad most of it has been sold
A few facts from EOR`s posted Management discussions...." Results of operations for the 3 months ended Dec 31 2014 included crude oil revenues of 0.7 million and a net loss of .6 million. The significant decrease of revenues was related to the sale of Crossroads in Oct 2014 which represented 65% of crude oil production. General and administrative expenses increased 0.5 million in the 4th quarter"...sounds like a winner ....advise any prospective investor to go to their website and read the latest Management discussion and financial report.
Sounds good....we all need a good laugh for those unfortunate to own this stock
Its too bad the information provided by the company is years old that you refer to !!! Why dont we just let the potential investors do their research and decide for themselves the truth?
Thats rich....you expect posters to respond to your questions when all you`ve done to answer questions put to you is respond with outdated news releases for a year !!!
CORRECTION ...the 2014 statement UNDER ASSETS shows 4,079,000 in cash....look it up....you surely are not counting the restricted cash which we could never get are you ???
The Dec 2014 financial statement shows 4,079,000 in cash ( much of it gone now !!!)
Shouldnt you wait till Dec 31 2015 to make up figures " The Dec 31,2015 state 9.6 Million in cash"
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......from EOR
Not disputing the last drilling added that amount of oil produced....too bad they have sold that producing field since...quote from the last financial statement " As of Dec 31,2014 the company had unrestricted cash of 4.1 million"....a lot less now !!!
Not enough left to keep the office open !!!!
What date was this released..LOL..no office , no employees now !!!
So many questions, NO answers !!!!
Was Crossroads only 800 acres ???
Too bad what they did sell was most of their production !!!
And thats after a 10 for 1 stock split !!!!
And you are saying the 15000 acres is still Crossroads ?
This was announced a long time ago...how long was the evaluation going to take ???