Be advised that this "$EORIF REPORTED $6.8 million in CASH, no debt, record revenues, $68.5 in RESERVES. 400-500 bopd production valued at $40-50 million." statement is dated. This was reported years ago so it's completely outdated and irrelevant today. EOR sold off the majority of their reserves, production (only 68 bopd left now) and acreage for only $10mm. It was a complete firesale to keep the doors opened. They could not find financing and their credit facility was yanked.
EOR has been a dubious scam for years showing 99% losses in the last several years. Management simply concocts some bogus story like a "CO2 flood", it get's promoted, never happens and cash from asset sales disappear with nothing to show for it.
