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ECCIE hurricane play at bottom....moving up
ECCIE hurricane play moving up
ECCIE hurricane play movin up
UNCN rally to close
news out
Eldorado Exploration to Drill in Texas
Business Wire - May 03, 2006 14:40
IRVINE, Calif., May 03, 2006 (BUSINESS WIRE) -- Eldorado (Pink Sheets:EDEX) announced today that it will participate in drilling an 8000' test of the Wolfcamp formation in Glasscock County, Texas. Expected drill date for the well is week three of June 2006. The prospect is based on analysis of Passive Induced Polarization (PIP), radiometrics, passive reflection seismology and subsurface geology.
PIP is a geophysical prospecting method that can indicate the presence of significant hydrocarbons from the surface. After reviewing oil production from the adjoining field, the PIP process was conducted to determine the potential for additional development. The PIP analysis indicated a channel over three miles long that may be an unexplored extension of the producing field. Three nearby wells have produced over 1 million barrels each over the past 10 years and are flowing at a combined rate of 45,000 barrels per month.
For further information about the company visit www.eldoradoexploration.com or e-mail at eldoex@yahoo.com.
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission.
SOURCE: Eldorado Exploration
Eldorado Exploration Inc.
David (Tom) Laurance, 949-916-0680
www.eldoradoexploration.com
Copyright Business Wire 2006
UNCN - 1.5 bil shares traded....crazy vol
UNCN has 1.5 bil shares traded....amazing vol
UNCN 1.5 bil shares....amazing vol
slowing a bit....a great 1st run.....next stop .20-.30....give it alittle time
b/c i'm trying to buy more and can't....just won't sell
mike, seriously the MMs are running outta shares....
EDEX on the map bigtime
smooth ride up.....nobody selling.....i love it
hard to get shares.....MMs trying to slow it down with spread but demand too high!!
EDEX drilling starts in June....has the rigs and ready to rumble
EDEX oil.....bout to run to $1......9 bil in potential reserves....so undervalued
demand on oil up 10x to 20x in near term with china and india getting in the game......looks good for EDEX
EDEX strong close....gap tomm
drilling starts in june = $$$$
.10 is close
rally of the century!!!!love it
looks like i'm holding for the big $$$ then....2 bagger chump change will not do....lot of buys today.....looks good
i agree lowman.....strong support for this stock....nobody is selling anytime soon
EDEX should do the same calculation PGPM did and its value will be $50+
EDEX primed to run...get in now for the ride to .20 EOW
edex primed to run EOD
setting up for EOD run.....
EDEX moving nicely
sounds good americano!!!
nice mov....looking to break .04
EDEX moving fast.....
EDEX MMs are outta shares = up up up
can't get more shares of EDEX keep moving the bid up everytime i place an order
edex might close strong
just a refresher bout the company
IRVINE, Calif., Oct 26, 2005 (BUSINESS WIRE) -- The following is a letter to shareholders and interested parties of Eldorado Exploration, Inc. (Pink Sheets:EDEX):
To the shareholders and interested parties of Eldorado Exploration, Inc. The company is positioning itself to take advantage of the current high oil and gas prices and the world's increasing demand for more oil. No, the world is not running out of energy anytime soon, it's just running out of cheap energy. Every oil company is looking for large fields and are either settling for smaller finds or looking in places where it has been cost prohibitive until the recent run up in energy prices. The major companies and the larger independents are going into foreign countries like Russia, Pakistan, Angola, Sudan, Venezuela, Brazil, Java, Yemen, and Libya, hardly the best political climates for dependable supplies to the United States.
The best hope for a stable U.S. energy supply is even further out in deeper waters in the Gulf of Mexico, the Alberta Tar Sands, new areas of Alaska, coal bed methane, new nuclear plants, enhanced new secondary recovery methods for existing production and over-looked and under-drilled onshore basins in the U.S.
Eldorado plans to make its mark with its passive induced polarization process which can help identify oil and gas from the surface by picking up positive charged anomalies that can indicate large hydrocarbon deposits. The company plans to explore areas that have been lightly drilled or have an unusual geological condition that current seismic methods have difficulty identifying potential hydrocarbon accumulations. An example of this is a string of reef plays the company is pursuing in Texas. Oil companies have known about reef accumulations for years but unless 2 seismic lines happen to cross right over the reef the potential reserves may not show up. A reef may only cover 100 acres on the surface but would have a very thick pay zone that may have up to 500,000 barrels per well recoverable. Sometimes a company can drill a great reef well and then drill 5 or 6 dry holes around it trying to make it a bigger field. With the PIP technology we believe we can not only identify where we should drill we also know where not to drill off the reef. Prospects the PIP Group has mapped out indicate 70 prospects on 25 sections. Over 100,000 additional acres are still to be tested with the PIP process on this trend. Eldorado has a 30% working interest in a reef well due to be completed in November 2005. This area alone could make a company very successful.
Eldorado was originally formed to drill a large PIP identified structure in New Mexico. The company has accumulated over 11,000 acres on the first New Mexico prospect and if the well to be drilled finds natural gas, as we hope, then Eldorado will endeavor to lease up to 20,000 additional acres. The geology and other gas wells in the area indicate potential recoverable reserves of 10-12 BCF per well for a total possible of 3 TCF spread over 250 wells if the New Mexico prospect is successful. Eldorado could have up to 10 billion dollars in future revenue.
The PIP process has been proven to be a good indicator of oil and gas for over 12 years but each well has to stand on its own. After doing extensive geology and other current technologies to follow up on the PIP process the company feels the time to drill is now. Due to a shortage of drilling rigs in New Mexico the company does not have a firm start date but is expected to be drilling sometime this winter.
I have taken many calls about the stock price fluctuations in the short term but the shareholders have to remember that we are only now starting to drill sizable targets that could really make a difference in our company.
If our PIP process continues to find prospects to drill and the company can have good results, now is the time to "hold'em" not "fold'em." The Directors and I are always ready to answer questions by phone, mail or e-mail. If you own 100 or 100,000 shares we are all partners. We are proud of what we're doing and will give it our very best to make Eldorado Exploration a success.
Please visit our website at Eldoradoexploration.com or e-mail me at eldoex@yahoo.com.
Thank you for your continued support.
SOURCE: Eldorado Exploration Inc.
looks like a nice close
EDEX on fire..
look at the ridiculous spread 25/33....gaammess