EOR - ENHANCED OIL RESOURCES INC - Page 16

The Company is also looking into opening behind pipe zones in some of the lower performing wells with the anticipation that the new production could be significantly higher than the lowest performing Devonian wells.

Interesting little comment ... looking forward to hearing more about this.

Excellent company with solid management who have clear defined goals and now incentives for management to reach those goals.

Markets are still a little shaky as well as this is not oil's strong season (for those that follow seasonality trading, which I do), but for longer term holders, EOR is an excellent buy here imo.

RBC has an iceberg sell at .22, so good time to build a large position ... even though I have been buying of late I picked up another 40K at .22 today.

Got a bit more EOR at .20 ... rbc selling at .205 now.

in general there is a lack of buyers for juniors ... combind that with a rbc seller holding the price at .205 and it is hurry up and wait time.

if rbc holds this price here some retail will give up, so a good chance to get some under .20 ... that is until rbc runs out of shares, then we should recover a bit, but I doubt a run back to .37 until late fall, but you never know.

Another 160 boed production ... good job EOR Management!

Enhanced Oil Resources Inc. Announces 160 BOEPD Test Results at Crossroads
HOUSTON, June 17 /CNW/ - Enhanced Oil Resources Inc. (TSX-V: EOR) today provides the following update on operational activity.

As previously reported the Company has been actively pursuing a production enhancement program at its oilfields in New Mexico with the purpose of increasing near term oil production in a cost effective manner at a time when costs for goods and services have been reduced. The Company is pleased to report that it has re-entered the Crossroads 101 well, a formerly idle water disposal well and has run a suite of modern cased hole logs over several zones of interest identified on the original, vintage, well logs. Several zones of interest have been confirmed, including an interval of 140 ft gross where 5 potential pay intervals totaling 40 ft net have been identified. A zone of 20 ft thick has been perforated and tested over the last few days with production from this zone stabilizing at a rate of approximately 600 mcf per day gas and 60 barrels of 53 degree condensate per day for a total of 160 barrels of oil equivalent per day with a flowing tubing pressure of 750 psi. The Company has applied to the New Mexico OCD for a change of status for the 101 well and will begin to build separate surface facilities for this production. The well is currently shut in pending the OCD approval. The Company has decided to run this suite of cased hole logs on all wells in the Crossroads field at such times as each well is down for work-over activity.

Mr. Barry Lasker reports, "We continue to have positive results at our Crossroads field with current production increasing by approximately 160 boepd with this latest development. The initial results from the cased hole logging suite at the 101 well has highlighted several zones of potential production and the initial production achieved from this first zone augurs well for further positive developments at Crossroads. The production at the 101 well is expected to increase our daily production well above the 520 boepd averaged for the first quarter of 2010. We are continuing to review additional opportunities at Crossroads, Milnesand and Chaveroo with our stated goal of achieving 1,000 boepd by the end of 2010. We will provide additional information as it comes to hand."

Throw a dart at any venture company (or tsx for that matter) and you will see options for directors/insiders being granted, so no big deal.

Only difference is you often have the options granted way below the current share price, so nice to see the current options being granted for EOR management a lot higher than the current share price.