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EOR announces it will do no work for 6 months (except write salary and bonus checks), and then it will be chicken/lizard f**king time so no work for another 3 months after that. 9 more months dead money as the $10 mil runs out.I foresee a trip to Europe to sell new fools on this beauty of an "investment". Had $6 mil of payables on 6-30, so the $10 mil is gone already.
Enhanced Oil Resources Inc (C:EOR) Mr. Barry Lasker reports ENHANCED OIL RESOURCES INC. ANNOUNCES PROJECT EVALUATION AGREEMENT WITH SCHLUMBERGER TECHNOLOGY CORPORATION Enhanced Oil Resources Inc. has entered into a letter of intent with Schlumberger Technology Corp. whereby Schlumberger, at its own cost, will conduct an in-depth technical evaluation of the potential redevelopment of the Milnesand and Chaveroo oil fields, located in Chaves and Roosevelt counties, New Mexico. Schlumberger will utilize in-house experts in primary, secondary and tertiary recovery with the ultimate goal of deciding the best way forward, if appropriate, to recover additional oil reserves contained within these fields. The company has agreed to stand still on the redevelopment of the fields for a period of up to six months while the Schlumberger-financed study is under way. Based on the results of the study, Schlumberger will decide whether to assist EORI in redevelopment of the Milnesand and Chaveroo fields under a comprehensive services agreement to be negotiated by both parties. Barry Lasker, chief executive officer and president of Enhanced Oil Resources, states: "The company is very pleased to be joined with Schlumberger in this study. Schlumberger offers world-class technical capabilities and oil field services that can help the company immensely as it seeks to maximize the oil recovery from these large, legacy oil fields." We seek Safe Harbor. © 2014 Canjex Publishing Ltd. |
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