Replies to post #1411 on Northamerican Energy (NNYR)

[creede]

Hi jchords,

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.