People can write off anything they want in all actuality. The problem arises when it's questioned. I'm not sure what qualifies "lots" of buyers but regardless EOR can be considered about as illiquid as a stock can be.
EOR buyers are reduced now to only those that are willing to buy an illiquid stock on a company that has ceased all operations except those related to overseeing the existing production, is cashless and does not provide any regular audited financials. Fools that are willing to invest in a company like I just described are few and far between.
The only hope for EOR shareholders from is to suck up a massive dilutive event (i.e., asset sale, buyout, etc.). This management will never deliver any value with what remains here. Even they admit to being unable to find financing for the company or buyers for the acreage that remains.
Good luck.
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