Environmental Remediation Hldg Corp. (ERHC) Message Board

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Microcap & Penny Stocks : Environmental Remediation Hldg Corp. (ERHC)

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To: GrnArrow who wrote (147)	10/18/1997 9:33:00 AM
From: GrnArrow	of 671

I found a couple of old news releases for Uinta O&G. They don't tell us much, but we do learn that ... "Uinta currently owns and operates 19 productive oil and gas wells, 107 gas well locations, and 15 re-work well locations in northeastern Utah." dljdirect.com The second one is just about $10M in financing to develop their properties... dljdirect.com It is curious that in ERHC's press release they say they got 13,000 acres with 52MM barrels of recoverable reserves, but Uinta's press releases say they own 18,960 acres with 57MM barrels of recoverable reserves. Yet both mention 1.6MM BOE gas, and both mention 107 locations suitable for drilling. So on the one hand it looks like they didn't buy all of UO&G's assets, but on the other hand it does. Perhaps when they file an 8K (which I think should be done within 15 days) for this deal all will become clear, including the undisclosed amount of cash and stock to be paid out over 8 months. (Any thoughts on this nondisclosure?) Here's a little bit of history of the Uinta Basin and Mountains: media.utah.edu Here's a lot of technical stuff about a study going on in the Uinta basin concerning the reworking of low productive wells (I hope the company is going to benefit from this stuff): ugs.state.ut.us regards, Mike

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