Says to me, that other companies should want stake in what we have. Companies that have the resources to extract what we have. Bottom prices here suggests we have a great entry point IMO. Patience, this could be the summer EGOH is looking for. :)
173 dry wells, abandon wells, maybe you don't understand, to get the remaining oil out of the ground a very expensive set of new rigs must be purchased and the wells must be drilled deeper. The oil is there. (knock off 10%) The Co, does not own the land just a lease to exploit the oil. This Co has absolutely nothing to do that with. The speculation, hope, dreams, wishes of investors here the Co. Will partner/merge with a real oil Co. That's been going on for two years now. The proper way to hold your bag in Texas is in your left hand, be strong, weak hands are unacceptable, chin up, post defiantly several times a day, after a year or so, fade away.
These are stripper wells, that are ready to pump. They are not dry, they are not abandoned, they do not need drilling rigs, they do not need drilling, no one buys expensive drilling rigs to drill a well, they RENT them, (WOW) they do not have leases, EGOH owns the oil rights outright!!!!
Im new to EGOH.Just wandering what makes you think they need to buy drill rigs and drill deeper to get the oil.Why cant they just hire a work-over rig to come in and swab them like everyone else does.Over time the pipe going from the oil well pump jack to the oil deposit gets built up with sediment and goop from the crude oil.And eventually klogs the pipe.The work over rig comes in and swabs it or cleans it and gets the well pumping oil again.Heres a video watch it at the end and you will see all the backpressure pushing up out of the well.As they pull the swab out Oil field pulling unit swab run