Monday, May 11, 2020 9:50:55 AM
I owned quite a few shares back in 2007-2009.
I believe the company was heavily involved in trying to get the oil out of old reserves. Think they purchased quite a few of them.
If memory serves, most oil reserves are "capped" while the majority of the oil is still in the ground. The pressure drops after a certain amount of the oil is taken out. Then you have to pump it out — which can be more expensive then just starting a new rig.
Fracking has come along and changed all that. Hopefully NNYR is still in business and making a lot of money.
That's what I am hoping.
GodBless-NoDoubt
creede
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