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farrell90

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Re: alwright post# 107378

Monday, 09/03/2007 1:35:35 PM

Monday, September 03, 2007 1:35:35 PM

Post# of 362718
Alwright, I agree EEL seems to have a lot of problems. A review of their web site shows no end of year filing for 2006. A loss for 2005 and 2004. Persistant drilling problems.The Peak Petroleum payment defalt. The FPSO cancelation for the Bilabri field - including a 20 million dollar penalty. I would like to know why the deal with Camac international fell through. On the plus side they appear to own some potentially attractive assets, but none seem to be generating any cash . Their forte appears to be financing the ventures. I do not see any synergies for ERHE. Good luck Farrell
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