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EOR - ENHANCED OIL RESOURCES INC - Page 16

post #301 of 481
Like most companies the compensation committee is the same management personel who award tbemselves the options. Why is the criteria not disclosed to the owners of the company. The shareholders? Why is not put in the quarterly financials before they are given out?
post #302 of 481
Thread Starter 
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.
post #303 of 481
Quote:
Originally Posted by gee View Post
I like this part.

Options will vest until such targets have been met and approved for issuance by the compensation committee

Unlike most companies that just give away the options, EOR management will have to work for it.

Got to like a management team that is willing to put their money where their mouth is
Normal companies they do not vest until goals are met

The CEO said "Options will vest"??? Nice.
post #304 of 481
Thread Starter 
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.
post #305 of 481
Quote:
Originally Posted by gee View Post
Excellent company with solid management who have clear defined goals and now incentives for management to reach those goals.
gee, I am glad you picked up more shares. The company does have great resources. Notice I did not say assets.

We will disagree on this management team. Before you argued you only cared about the last 6 months you have been invested in EOR. I think it is only fair if we discuss this management team, that we discuss the past 5 years. That is how long BL has headed up the company.

One of the first things BL did was replace Steve Melzer as a director of the Company. Melzer is a predominate CO2 professional and scholar. He was an excellent asset to the BOD. Google him and his career accomplishments.

Another thing Lasker did was raise $100 million dollars. What do we have to show for it? Our market cap is currently only 33 million. How can anyone think an "excellent" management team blows 100 million dollars?

More recently, he prepare the company for sale or a joint venture partner. We hired Tristone Capital. After 3-4 months the company received no offers. Nada. Zilch.

During a conference call Lasker said the St Johns helium and CO2 was a marginal asset. What a thing to tell shareholders, analysts and institutional managers.

Like I said before. Good resource. Poor management. Poor execution. Poor marketing.

Gee,
What are the current objectives to vest the bonus options?
I would like to know when and if we reach these milestones?
post #306 of 481

Production for April, May and June

"All but one production well has now been turned into the tanks and production at Crossroads has averaged approximately 300 bopd for the month of June. Total Company production for the same period has averaged 385 bopd."

Did anyone else conclude production for April and May was only 85 BOPD? Down from the 510 bopd in March, and only back to 385 bopd now, still down 125 bopd.

Poor Execution...

I wonder why we did not go behind the pipe during the 60 days down time?

More Poor Execution?

Can't imaging we were cashflow positive during April, May and now June!
post #307 of 481
Thread Starter 
Got a bit more EOR at .20 ... rbc selling at .205 now.
post #308 of 481
Quote:
Originally Posted by gee View Post
Got a bit more EOR at .20 ... rbc selling at .205 now.
im going try get in tomorrow at 20 cents
post #309 of 481
Quote:
Originally Posted by 3junior View Post
im going try get in tomorrow at 20 cents
Thanks guys, we need all the help we can get.
post #310 of 481
so where exactley do we stand as of right now??
post #311 of 481
SP will prob stall until next good news...

But we're in good shape, not in a hurry to make profit...

Should of sold my .195 share on the run to .37 and buy back now, but O well
post #312 of 481
Thread Starter 
Quote:
Originally Posted by mau11 View Post
so where exactley do we stand as of right 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.
post #313 of 481
Thread Starter 
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."
post #314 of 481
Great News...

Let's see how quickly they can get this production online.

Hopefully, this management team can prove me wrong and actually execute on a task in a fairly quick time frame. 160 BOEPD could be $300-350K month. Can't imagine this will take longer than 30 days. We will see.

With all 14.5 million bonus options in place , I hope we don't hear any excuses!

Let's all make money, Forgot to mention the 2.8 million options issued on September 15, 2009 for .25. Yes these are on top of the 2.9 million issued the other day for .30.
post #315 of 481
Thread Starter 
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.
post #316 of 481
Quote:
Originally Posted by gee View Post
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.
Oh my, Oh my.

The 2.8 million options issued in September 15 or 16, 2009 (date depends on which Q you look at) were "repriced" from previously issued and canceled options that were set to expire in 2012. The price ranges were 1.05, 1.24, 1.36, 1.37, 1.89. Kinda tells you this management team thinks we will never see 1.05 before 2012.

Why issue 5 year options and reprice them when the SP falls? These previous options were issued in 2007, not even 2 years old. Doesn't do much for the shareholder value does it?

Execution is what it is all about! So far it's been poor execution!
post #317 of 481
post #318 of 481
Well 101, shut-in with 1850 psi. Waiting on surface facilities and waiting and waiting and waiting....

It's all about execution....

It's been 30 days since rework and.......everyday we leave $7,000 in the ground. As of today that's over $210,000
post #319 of 481
Pictures available on Facebook

Enhanced Oil Resources

http://www.facebook.com/profile.php?...xpipe=1&__a=25
post #320 of 481
Starting to feel lonely...

Gotta love this management and the ability to execute.
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