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ENHANCED OIL RESOURCES INC. V.EOR

"Enhanced Oil Resources Inc is a natural resource company. The Company through its subsidiaries is engaged in the acquisition, development, operation and exploration of crude oil and natural gas properties in the Permian Basin in eastern New Mexico."


TSXV:EOR - Post by User

Post by Yemenon Sep 19, 2012 6:22pm
221 Views
Post# 20388138

Barry deserves a lot of credit

Barry deserves a lot of credit

for following the business plan.  I believe he will do what he says he will do.

 

As far as the exit plan that some were questioning, I need only point to Yates Petroleum.  New Mexico has been largely on the back burner for oil production for many years when their oil districts appear to be more than amenable to secondary and tertiary recovery strategies like EOR has in store for the fields that they bought for next to nothing.  You can't make such an acquisition without knowing that there will be a lot of work to get the fields up and running.  Barry and Don and others appear to be on the right track.

I once held stock in a lundin play called Valkyries in Russia.  They bought into several old fields to rehab them.  Lundins, for those unfamiliar with the name have started a dozen or more mineral exploration plays and made a success of 90% of them  Valkyries went from 2.00 to 14.00 and it may have been more, but we are talking 6 or 7 years ago..  They were bought out by their parent outfit lundin oil outfit  after  the fields that they had were rehabbed to the point of producing 10,000 bbls a day and this was before fraccing..  They started with less than a 1000 bbls a day and within 3 years built the company back by hard work and employing the best rehab people..  It can be done and we appear to be on the right path here.

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