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People should wonder why there are repetitive posts here from years gone by. The hope is that somebody might actually buy a share on this information without actually checking the date. Exactly why we are seeing these posts "CURRENT RESERVES OF $68.5MM and "CURRENT RESERVE REPORT". These are from 2013!! EOR is not a functioning company….they don't even put out reserve reports any longer. They've sold off all of their production and reserves so there is nothing to report!!
BE CAREFUL and do you DD on what you read here.
EOR is down 50% in less than 3 weeks. It's going under .01 again unless they reverse this "nice share structure" AGAIN!
Enhanced Oil Resources has "announced" plenty of things but they never seem to happen. Check the date of this release!!!! JUNE 20, 2012!!!
"Enhanced Oil Resources Inc. Announces Initiation of Lateral Drilling Program
HOUSTON, June 20, 2012 /CNW/ - Enhanced Oil Resources Inc. (TSX-V: EOR) is pleased to announce that the three well lateral drilling program at the Company’s wholly owned Milnesand San Andres oil field has commenced…"
One of many promises that were broken and for some reason this old press release from 3 years ago appears today as if it has any meaning or relevance. What is meaningful and relevant is that it's a great indication that this company never does what it says!
EOR has not drilled a well in many years. There is less than 60 barrels a day in production. EOR sold off their last asset of any value for $10mm and had to pay all of that to past due bills and salaries of now departed management.
EOR is a Canadian exchange traded shell at this point. There is no a business here, no assets and no cash. All of the reports we see posted here are from press releases from years gone by. There is nothing legitimate about this company and nobody trusts any involved with it given the long running history of false representations and broken promises not to mention the $100mm in cash that has disappeared.
BE CAREFUL HERE FOLKS!
Nice share structure here????…if you're a promoter or former CEO. The existing shareholders have been wiped out…nothing "nice' about it.
Yep shl….there were so many trumped up claims here to lure in shareholders over the years it's no wonder every shareholder has no doubt written this scam off and moved on. There is no fool left to buy the shares of this promoted hoax….not even new management!! What's that tell us???
The company through it's subsidiaries have FLEECED innocent people of MILLIONS here.
BEWARE of this company and it's subsidiaries, management and especially PROMOTERS!
Repeated postings of dated PR's tell the story here…there is NOTHING new here and no activity. Just washed up, trash acreage and all time lows.
BEWARE of this scam folks.
$100mm in cash gone at the expense of innocent shareholders!!
BEWARE!@
Less than 60 barrels a day in production. This is NOT a REAL company!!!
BEWARE!
No pipelines or CO2 floods as promised by promoters and management. Further evidence of shareholders being fleeced here.
Reserve report here is from 2013 and uses assets sold years ago….it's a scam.
Nothing "nice" about a "share structure' sitting at all time lows.
Stock at all time low…proven scam
Look at the chart her folks and the complete lack of operational activity. There has been no drilling here nor has there been money to drill here in years!! There is nothing left to drill now that the previous CEO sold off the last asset worth owning! !EOR is a scam people….be VERY AWARE OF THIS. It's only surrounded by self-dealing promoters and management.
Not sure why "nice" gets mentioned but failed to explain???? We'll talk about this trash acreage next and EOR's failures for those really thinking about investing here (their next write-off!!) LOL!
What's "nice" about it?
SCAM SCAM SCAM!!!!!!!!! EOR is down 99% while the cash drifted off into the pockets of it's promoters and management!!
Look at how $50mm has disappeared into management/promoter pockets while production has cratered to 60 barrels from this!! OMG!!!!
"As last reported the Company had increased total Company owned production from an average of 186 barrels oil per day (bopd) in July 2009 to 350 bopd in November 2009. "
How does $50MM DISAPPEAR FROM THIS COMPANY WHILE PRODUCTION DECLIUNES TO ONLY 60 BARRELS A DAY???
The CEO jumped off of this sinking ship even before the rats!!!
"Results of operations for the year ended December 31, 2011, included crude oil and natural gas sales revenues of $10.1 million, and a net comprehensive loss of $11.4 million, compared to revenues of $10.0 million and a net comprehensive loss of $47.4 million for the year"
What a shame….some folks are still hoping for a loser like EOR (with it's scam artists moment/promoters) to ever go up while preying on the unsuspecting. Good thing we have IHUB for people to read the FACTS!!
EOR is a scam and will go under .00000000001 soon.
"Nice share structure"???? LOL…nothing nice about shares trading at all time lows under any "structure"!!! What's so nice? We've yet to be told????
OK…now we are printing 2007 and 2008 info from assets sold years ago???? WOW!!
LOL….how much more do we need to hear before we all know this a Canadian shell scam??? LOL!!c
I am very PLEASED to to provide this update for people to see and understand…The post mentioned here was from 2012!!! Not sure why people are being fed 2012 "drilling updates" along with "current reserve reports" from 2013. Surely folks recognize by now this is a promoted Canadian shell scam!!!! BE CAREFUL FOLKS!!!! There is no reason to read these old posts from years gone by as if they matter.
Enhanced Oil Resources Provides Drilling Update
HOUSTON, Sept. 19, 2012 /CNW/ -Enhanced Oil Resources Inc. (TSX.V: EOR; OTCQX: EORIF) (the "Company") is pleased to provide the following update regarding the Company's recent three well drilling program.
At the Company's wholly owned Milnesand oil field, the previously announced three well infill lateral program has been completed and the rig has been released. The MSU #123 well, the third and final well in this program was acidized yesterday, September 18, 2012.
The MSU #141 well, the second well in the program, was placed into production on September 9th and has produced approximately 963 barrels of oil over the initial 10 day period. Average production over that period was slightly in excess of 96 barrels of oil per day (bopd). The MSU #522 well, the first well drilled in the program, continues to produce oil at an average daily rate of approximately 40 barrels of oil per day (bopd).
Oil production volumes for September, to date, have averaged 453 barrels of oil per day (bopd), an increase of 45 bopd from August levels. Production volumes for the last 10 days have averaged approximately 543 bopd, largely due to the production gained from the MSU #141 and #522 wells.
Barry Lasker, CEO and President of Enhanced Oil Resources Inc. states, "The Company is very pleased with the initial production at the MSU #141 and MSU #522 infill wells. The results to date confirm our technical assessment that indicates considerable oil can still be recovered at Milnesand, and by analogy at the Chaveroo field, by infill drilling as a precursor to our CO2 developments. The Company is already planning the next round of three infill wells at Milnesand and we expect to start that program within the next 45 days, subject to all approvals being obtained".
REALLY?? We're going back to 2009 now?
Old news and a broken record. They've been saying this for years. We can all see that it's been YEARS since they attempted to do anything in these fields and those efforts were unsuccessful. As a matter of fact…this company has not attempted to drill any well anywhere in years!!
This is not functioning/operating company. It's a Canadian shell.
What we are seeing here is old news from years gone by. What's going on today with this company outside of babysitting 60 barrels of oil a day?
That was from last year. Schlumberger found nothing.
The current reserve report is from 2013. Seems odd that the company is unwilling to provide a reserve report from 2014. Doubtful they enough cash left to pay for one.
What was so "nice" about this share structure and what is the CO2 from Kinder supposed to be for?
The stock has dropped 32% since he got here. It will drop much more when then world realizes there is nothing left here including cash.
Well they've already spent that cash and the $68.5million used in your OV-10 was from the asset they sold. So why do they need this CO2 and why is it important today?
Explain why the company needs this CO2 now. Kinder Morgan states in their contract that EOR is responsible for transportation so what do they need it for and how does this CO2 get to wherever we will be told it's needed? That contract he's been in place for years but there has never been any delivery. Why is this of any importance today?
Explain what is "nice" about this company's "share structure".
All a huge hoax shl. You didn't even bring up that this management lied to the public at a conference when they announced plans to drill 9 San Andres wells! And then the pumping of a "big financing" that never happened. The uplifting that never happened. The credit line that Regions yanked 2 years ago (they saw the scam for what it was).
NEVER a single up year in it's history all the while management sold assets and pocketed the cash. The CEO left because he, of all people, knew there was nothing to sell to pay himself with. Anybody buying this stock symbol is buying the shell. It will go to .00something soon.
This stock has never gone up in any given year and will only continue to drift towards .000001.
Have we EVER been wrong here shl?
I see we got our daily dose of "Groundhog Day" posts of ancient PR's as if they are relevant. Gotta hang on to something here I guess since the CO2 Flood and Pipeline hoax has been exposed and debunked.
I'm agreeing with you!!! YES…they had revenue of $10mm for years running in years gone by. The stock dropped every year along the way resulting in 99% losses!! "Facts are facts"…this company managed to lose 99% of it's market cap while producing $10mm in revenue for 3 years.
Now of course, "FACTS BEING FACTS" and all, we know that the production and reserves were sold for $10mm (as has been pointed out daily for months) and there is no possibility of this company producing $10mm in revenue ever again.
That's we'll see the stock drift back to under .01 again. It's a scam. 8 years and NEVER an UP year??? "Facts is facts" as they say!!! LOL!
You make a really great point we should all pay attention to here. "Facts are facts". This company posted revenues of $10mm for 3 years straight and their stock tanked 99% over that time. Now they have sold off all production and reserves. With no chance of ever seeing $10mm in revenue ever again we all know the stock will never go up again.
In 8 years this stock has NEVER had an up year. Not one. Not even at $100+ oil!! "Facts are facts".
PipeDREAM is what they meant…not pipeline. I see we got our daily dose of PR's from years gone by. We'll be reading those once a day when the scam trade at .000001.
Gotta wonder how long it is before we hear what Schlumberger found here. It's been over half a year since they starting looking for something. If there was anything here Schlumberger would've found it LONG ago. The CEO quit because he KNEW nothing was left here.
Chaveroo and Milnesand are worthless acreage. This is all that's left. NO RESERVE REPORT WILL EVER SUPPORT $68.5MM IN RESERVES HERE WITH $50 OIL!!!
Be careful of relying on 2013 reserve reports from this company. They included assets no longer owned (Crossroads). The production and reserves were sold last bear AFTER the report was released.
BE CAREFUL!