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Friday, August 30, 2013 12:03:28 PM
Current EGOH oil production is...and has been zero for a very long time.
At this time, any production greater than zero(even in intent) is an absolute improvement over the non production and lack of direction of the company....albeit small.
For those of us who have held this stock for four years and watched the downward spiral...the prospect of actual production is very promising and a step in the right direction.
according "Exhibit A" of the the field production document signed by Drake Gold and dated 9/19/12:
10% of the existing wells at the morrison lease are producing 2.8 barrels per day. the remainder of the existing wells are not contributing...yet. There are 396 acres for production.
16% of the existing wells produce 1.6 barrels per day at the Frank Farm lease.
Currently how well are those wells operating? Maybe the efficiencies could be greatly improved?Maybe new wells can be drilled. A company has to start somewhere and it appears that there is some direction from Connie, communication from Connie, pictures from Connie.
The bottom line for us shareholders......even the miniscule levels of production are great prospects in my opinion for a company who has produced nothing in many years. I am not saying they are the next major oil producer in america.....who knows..... I am just saying it appears to be positive information and maybe these are good baby steps for a baby company. These are my own thoughts, make your own conclusions and do your own DD.
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