EON R built its first vertical well out of its 92-well program. The company's current business is repairing old wells and putting them back to work; they own hundreds of wells.
Last year, they entered into an agreement with Virtus Energy, under which Virtus will fund the construction of the first three vertical wells.
I was and I am still an investor in EON R; the fundamentals are there. The only negative side is that the company still hasn't filed the 10-K, but they have until October, plus the authorities can grant them another 6 months if they show signs of progress.
Their low-cost structure and insider holding are the prime signals that this company is not run by scammers.
