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IMMEDIATE NEWS RELEASE EAGLE ANNOUNCES CONTINUED OIL PRODUCTION/SHIPMENT/SALES SEPTEMBER 17, 2008 RENO, NEVADA, Eagle Environmental Technologies Ltd announced on September 17, 2008 that they have been able to get more oil pumped and shipped since the severance or freeze on oil sales from last year. Whatever oil is sold in a given month, the spot price average is taken and Eagle receives 78% of the proceeds. Eagle's oil is actually paid a premium price of $2.25 OVER the quoted price. The remaining 22% goes to the Siler Lease holders. President Mark Wayne expects the production levels to steadily increase over the next several months in to next year once the problem with water disposal is overcome. Due to the excess water generated from the current 3 operating wells, there is a problem of what to do with the excess water. (One typical operating well generates 400-500 bbls of fluid of which about 5 bbls is oil, 395-495 bbls is Hot salt water.) Fred Churchman, the oil field manager is currently installing a NEW 4-inch line from the newly rebuilt water pump to the pump house (over 1000 feet) where the salt water is disbursed to enable re-injection of the salt water via the bank of water injection wells. This newly rebuilt fluid pump is supposed to operate at a rate of 15,000-18,000 bbls/water daily which would allow for opening up an additional 40 +/- oil wells if all goes as planned. Once oil production gets up to netting $50k/month average for a six month period, Eagle would be eligible for a Line of Credit from a Texas Bank for roughly $1,000,000. This is the goal we are striving to reach over the coming period. Mr. Wayne is making a personal trip to the Siler Lease along with Hurricane IKE to review the plans for additional well development and resource management. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE EAGLE ANNOUNCES NEW ACCOUNTING AND AUDITING FIRMS SEPTEMBER 16, 2008 RENO, NEVADA, Eagle Environmental Technologies Ltd announced on September 16, 2008 that they have formally engaged Gallina Accounting to do the past years accounting and Macias Gini & O'Connell to do the past years audits. The problem to date is that in order to do the audits the firm must be Sarbanes-Oxley approved. This has been a long time in coming as the previous auditor failed to provide the necessary audits which lead to the stock being delisted. Once the accounting and the audits are completed then the Form 10 can be submitted to the SEC along with all the accounting and audits and the stock should be relisted within a couple months from the submittal. Connie Helwig, one of the board of directors will be overseeing the process on a weekly basis. On a different vein Mark Wayne is making a personal trip to the Oil field this next week along with Hurricane IKE to review the plans for additional well development and review the water removal system. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE EAGLE ANNOUNCES THE TWO LOADS OF OIL SHIPPED IN JUNE JULY 23, 2008 RENO, NEVADA, Eagle Environmental Technologies Ltd. announced on July 23, 2008 that they have been able to get two loads of oil shipped in June. One transport load is approximately 180 barrels of the premium oil quoted in the newspapers. Eagle's oil is actually paid a premium price of $2.25 OVER the quoted price. President Mark Wayne expects the production levels to steadily increase over the next several weeks in order to meet the goals of company stability and profits. Mr. Wayne and another Director Randy Nordlof are making a personal trip to the fields to review the plans for additional well development and resource management. In addition, Mr. Wayne continues to track the accountants and keep the goal of finishing the accounting and then the audit. The 10 SB draft document prepared for submittal to the stock market was completed and forwarded to the company attorney only to be told that the New Form 10 must be submitted along with the audited financials for review and submission to our broker. The audited financials are still not completed. After that point the broker then submits the Form 10 to the NASD securities review. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE 18th ANNUAL EAGLE ENVIRONMENTAL TECHNOLOGIES Dear Shareholder, Enclosed is your notice of the upcoming shareholder meeting, management discussion of the company, financial information and your ballot or proxy if you are unable to attend. At the time of this notice, we have not completed the 2007 audited financials. We are making available the draft copies of the financials on the web page and enclosed herein. This year’s meeting will be on Wednesday, June 11, 2008, at 9:00 AM at The Peppermill Hotel and Casino, 2707 South Virginia St., Reno, NV 800-648-6992. The meeting is called for the following purposes:
Any action may be taken on these matters at the annual meeting, or on the date to which the annual meeting may be continued, postponed or adjourned. Our Board of Directors has chosen May 30, 2008 as the record date for determining the stockholders who will be entitled to receive notice or our annual meeting and to vote at that meeting. The proxy statement included with this notice discusses each of our proposals to be considered at the annual meeting of stockholders. We have included a management’s statement on the company along with this notice. All information contained herein is also on the website at: www.egvr.com. An informal hospitality session is scheduled June 10th at the hotel. This is your chance to meet with the management and to meet other shareholders in a relaxed atmosphere. Doors open on this room at 6:00 PM. It will be held in the 17th floor Skyline 1735 room. Plan now to attend. We have blocked a group of rooms for the Eagle shareholders at a special rate. You will need to call in your reservation directly to the hotel before May 30th and use the group code “CEAGLE8” to get the rates. We hope you come to the meeting and the hospitality event as we will be discussing the previous year's events, and the news for this upcoming year. Also be sure to check our web page for current events at www.egvr.com. Thank you for your past support and we hope to see you at the meeting. Yours Truly, Mark Wayne, President
IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced on April 16, 2008 that they have been able to get the first load of oil shipped since the severance or freeze on oil sales from last year. One transport is approximately 160 barrels of the premium oil quoted in the newspapers. Eagle's oil is actually paid a premium price of $2.25 OVER the quoted price. President Mark Wayne expects the production levels to steadily increase over the next several weeks in order to meet the goals of company stability and profits. Mr. Wayne is making a personal trip to the fields to review the plans for additional well development and resource management. In addition, Mr. Wayne continues to track the accountants and keep the goal of finishing the accounting and then the audit by Early May. The 10 SB draft document prepared for submittal to the stock market is now completed and ready to be sent to the company attorney along with the audited financials for review and submission to our broker. The broker then submits it to the NASD securities review. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced on April 9, 2008 that they have been able to get four wells back into production. Three more wells are in need of additional service to get up on line. The long delay in production has caused more mechanical problems than originally expected, but they are being serviced as rapidly as our field personnel can do the various jobs. Corporate President Mark Wayne, expressed the need to achieve the production goal of 25 barrels per day. Such an amount would put the company in the black. Since his coming on board, Mark has been pushing for more production and sales. His first load of oil should be going out this week. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced on March 3, 2008, that the Railroad Commission of Texas (RRC) has granted the P 4 clearance to sell oil being generated from the leases. This is big news for us as it has taken over 8 months to get this clearance. Several wells had to be tested and certified as being in compliance with RRC regulations and other wells had to be inspected. It will take several days to prepare the oil in storage for sale as it needs "reconditioning" prior to the sale. When crude oil "sits" for any period of time, paraffin wax can drop out of the oil and tends to clog the equipment. After conditioning, it re-incorporates the wax and can be transferred. This process is standard in the industry, but it will take a few days to perform. The company is very excited about this new event. This can put us in full operational mode in 30 days or less. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced on February 7, 2008 that Mark Wayne has been appointed as the new President of the Company and Chief Operating Officer effective March 1, 2008. A formal election to the position, including the Directorship, will be at the 2008 Shareholders meeting in June. Mr. Wayne has extensive experience in the business community and in the communication business. Mr. Wayne has been a follower of Eagle for several years and has expressed interest in the Company. It is only recently that the opportunity to serve and the opening has come together at the same time. We are very excited about the addition to the Company of Mr. Wayne. For more details on his qualifications and experience, check our web page at www.egvr.com for his resume. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced that the annual shareholders meeting will be held in Reno, Nevada on June 11, 2008. Details of the meeting times, room price discounts and events will be posted in follow up releases during the next couple of months. Shareholders should plan now to attend the meeting. It is the best chance to complain to management about any events or praise them for any results that have been achieved. To do that, you have to attend. Plan now to attend. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd recently signed the engagement letter with Gallina LLP as the new accountants for the Company. Gallina will do the work that formally was done by Mark Bailey and Associates. They are preparing the financial work papers for the final review by the auditors. They function similar to an in house CFO, but are not an employee of the Company. They are preparing the necessary working papers for the auditors, advising us on methods of maintaining the records for review and doing the necessary reports that accompany the working papers. When Gallina has completed its work, including the reviewing of items, the papers will be forwarded to the final auditors. It is expected that the auditors will not take as long as the former firm, hence we expect to be ready for NASD submission by early February. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd recently completed the specific well tests as requested by the Railroad Commission (RRC) of Texas. The delay in the completion was due to improper listing of a specific well by the State. It was a normal water producing well, and not an injection well as thought. We found the correct information and presented it to the RRC. With that information, the RRC should now complete the approval of the lease split to "A" and "B" which would enable us to continue the field development. We also completed another 5 well tests on the "A" lease which had been part of the original grouping the RRC wanted tested. We do not yet know when the RRC will grant us the right to sell oil, as we may have to complete the last of the requested tests on the remaining 9 wells on the "A" lease. We are doing the tests now so no delays are expected. The auditors are doing the reviews of the 2006 and 2007 records now. I have no additional time lines at this time, but do expect some updated information by next week. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd has posted the third quarter financials for 2007. The work is being done on a continuous basis to keep the records as current as possible so the year end documents will be ready for the auditor's reviews and final submission to the NASD for trading purposes. No changes have occurred in the time table for the approval of the trading dates. The work on the oil fields is continuing in order to satisfy the requirements of the State of Texas so Eagle can begin selling the oil. The testing unit just recently built, is functioning now and the tests are being conducted on the last 8 wells as ordered. The Company is hopeful all tests will be completed this week. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, The Company has had several inquiries on what the current pricing of oil will have on our future valuation, if any, of the stock when we re-enter the market in 2008. Stock values are generally based on two major characteristics, the P/E ratio (Price to Earnings) and the asset values held by the Company. Actual market conditions are the final determining factor. If we use the oil values, we can calculate it this way: Eagle owns or has rights to, 12 million barrels of proven reserves in the ground. This oil is also the “best” grade, as it is the “sweet crude” that is used for the price quoted in the journals and markets, meaning low sulfur/high fluidity. In addition, since our oil is of this premium grade, Eagle gets a premium price of $2.25 per barrel OVER the quoted market price. So if the quote in the journal is $90.00, we would get $92.25 per barrel on delivery. From that we pay our royalty holders, 22%, and the rest goes to the Company. However, the asset we hold is valued at $90 X 12,000,000 or $1,080,000,000 above ground, or approximately $360,000,000 in the ground. Either way, the Company has a large asset, plus the equipment. If you divide the $360,000,000 by the shares outstanding, 130,000,000 you get a base stock price of $2.77 per share. This price can vary depending on how the market makers or public views energy companies in the market place. Price to earnings ratios depend on the production numbers we are able to do over the year. For example, ten wells can give us 50 barrels or more per day, X 30 days = 1500 per month X 92.25 per barrel = $138,375 per month X 12 = $1,660,500 per year. Our lifting costs per month average about $50,000 or $600,000 per year. After the deduction of the costs and royalties (22%), our net is $695,190, which is .01 per share. If the usual multiples are included, (these are the calculations from the market makers on how they perceive the Company to be doing) like 12 X earnings, the P/E ratio would be $ .12 per share. Add this to the asset value, and you get a stock with a potential market value of $2.89 per share. From this, the price can vary up or down depending on how well the Company performs in developing the oil field, (we have over 100 production type of wells) price of oil, and cost management. In addition, the other technologies of CryoYcix or ZawMET will add additional value as they become marketed. The above is how we value the Company and why we are pursuing the continued development of the oil field. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the progress on the well development is still moving forward. Although only three wells are now producing daily, we are getting another 7 ready to go. We are trying to complete the testing for the State (RRC) on the 8 new wells they requested, and still get the others ready to start as soon as the State allows us to sell. We expect to be ready to test next week. Our crews had to build a testing unit from the ground up to comply with the State requirements, and that took longer than expected. With all wells producing in our current plan, we should produce about 50 or more barrels per day. That will put the company in a positive cash flow and make us self sufficient. “God willing and the creeks don’t rise,” we could be fully operational by December. When that happens, just watch how the stock will look on the new filing. The Company owns or has rights to over 12 million barrels of top grade oil, “Sweet Texas Crude,” which is the quoted oil on the exchanges. At a price of over $90 per barrel, we have reserves exceeding one BILLION dollars. I am sure that an asset of that size will make a big difference on the price of our shares when we re-enter the market. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the lawsuit brought about by Eagle’s early attempt to purchase some wells from Energy 2000 in 2004, has been settled. After two years and many expenses, the Company was able to eliminate all further claims against the Company and eliminate the suit from any further expenses. All of the parties involved are satisfied that this event is over. Details of the settlement are to remain confidential. In addition, the suit brought on by an investor to Energy 2000 from Dallas, Texas has been finalized with Eagle being released from the suit at no additional expense or obligation. Eagle had been named due to its original efforts to purchase some leases that had been held by the plaintiff, but never obtained by Eagle. It took two years to clear Eagle’s name from the suit. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that Director Ronald Bender, has resigned for personal reasons from the Board of Eagle. Eagle regrets the event, but wishes Mr. Bender well in his future endeavors. No other changes in the Board is expected in the near future. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the firm Gallina LLP of Reno, Nevada has been hired to assist Eagle in preparing the financial statements for the up coming audits. Gallina has two offices, one in Reno and one in Sacramento, CA. They will be replacing the services of Mark Bailey and Associates in setting up the financials for the new auditors that will be completing the audits. With our submission to the NASD, we are keeping all records current and reviewed in case the representatives of the NASD request any additional information. At the end of September, we will be posting the third quarter financials. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the documents needed by the NASD were sent off by the Broker for review by NASD prior to any approval to trade on the OTC “pink sheets”. The NASD needs to conduct a thorough review of the Company’s history to verify the status of the Company and all of its components and personnel. This process may take some time, up to two weeks or more, but when completed, the Company will be back trading its securities or stock. There is no timeline on the NASD process, but as soon as one is available, the information will be set forth. No pricing has been recommended for the securities at this time. As the process continues, the Company will keep the shareholders updated to the various stages of the approval process. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the documents needed by the Broker were sent off for the preliminary review by the new prospective securities dealer. The Broker needs to conduct a thorough review of the Company’s history to verify the status of the Company and all of its components and personnel. This process may take some time, but when completed, the Broker submits the reviewed documents to the NASD for its review prior to the trading of the security. There is no timeline on either party, and the NASD may have its own questions prior to approving our application to trade on the OTC “pink sheets”. As the process continues, the Company will keep the shareholders updated to the various stages of the approval process. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the workover rig has finally been repaired and put back into operation. This critical equipment is needed to repair the wells and get them into production. It required a new engine, transmission and hydraulic system to get back into service. The total investment in the unit exceeded $60,000. With this unit back on line, we hope to be up to about 10 wells by the meeting date of June 13. Ten wells in operation would put us in the black on the finances and make the company self sustaining. That would be a big plus on the stock market when we are back on line. Be sure to attend the SHAREHOLDERS MEETING on June 13, at the Peppermill Hotel in Reno, as the field manager will be there to answer your questions. Do not forget the hospitality session in the Sky room, 17th floor, on Tuesday evening. You can meet all of the management team at one place. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today
that the oil production on the Siler lease will now be conducted by Hohle Oil
Services Co, Inc. a Nevada Corporation and Hohle Energy Services Co, a Texas
Corporation. Both companies are under contract to Eagle to operate the field
for Eagle as they will be replacing B & B Oil Company Inc in its former
capacity. Compensation is based on the production levels of the wells. Eagle
will pay for all expenses up to breakeven, and Hohle will earn 5% of revenue
above the operating expenses. Hohle Oil Services Company Inc will operate approximately
70 wells, and Hohle Energy Services Co will operate about 75 wells. By breaking
the operations into two companies, Eagle will save $150,000 in bond costs. This
will also help prevent the past problems of “severance” by the State of Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the oil production on the first group of five wells has averaged 24 barrels per day. Production has been continuous since February 20th. The averages have stabilized at the current level since the beginning of March. The next group of wells is scheduled to be put on by mid-April. These wells already have some or most of the equipment needed, but are not hooked up to the electrical grid, or may need flow lines connected. Two wells are in need of well service which will be done by April 15th. Early projections show an average of 4 (+/-) barrels per day per well, which would put the company in a cash flow positive by May if the full compliment of wells become operational on time. According to the geologist, some wells are projected to be much more productive due to their relative location in the field and proximity to the high volume zone. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the old lease with the land owners has been upgraded and signed by all of the land owners of record. There are approximately 25 separate royalty interests (land owners) listed on the lease and it took a considerable amount of time to get all of the signatures. The lease needed to be changed to reflect the Eagle name on the document and to clarify the rights of the respective parties of interest. In a standard lease, there are “deep” rights, those below some set distance like 5000 feet, and “shallow” rights, those down to 5000 feet. In our field, we had the “shallow” rights, which included all of the Woodbine field. In our area, most “deep” rights reflect drilling down to 12,000 feet to seek out a gas field. The lease is issued in perpetuity as long as the leasee (Eagle) keeps the field in production. Our production plans will enable Eagle to keep the lease and generate the revenue the land owners are planning. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the State of Texas, Railroad Commission, has allowed us to begin pumping with limited production on the first 6 wells. We are putting the originally equipped wells into a limited production mode in order to test the lines, electrical systems, separation systems, injection systems and the pumps themselves. The tests are needed to insure that no problems developed during the past non-operating time. There are no production forecasts or oil/water differences available at this time. We will not be selling any oil until the State approves of all of our operations and the oil field rehabilitation plan we are preparing. We expect that process to be completed within the next few weeks. We shall continue with the additional oil well development as planned during the testing period. This includes securing equipment, installation of electrical systems as needed and installation of the pumps. Thank you all for your patience and confidence in the company. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the audit is going to be delayed until the end of the first quarter of 2007. The new audit will include 2004, 2005 and 2006, with the addition of a stub of first quarter of 2007. This delay is due to the resignation of the former auditor, Marc Lumer & Co. His resignation, without a clearly defined reason, has hampered the new auditors on what points to address in their new analysis. Our accountants, Mark Bailey & Associates, have recommended that we put the company into a full operational mode for at least 30 to 60 days to change the designation of the company from developmental to fully operational. In anticipation of this event, we had made significant personnel changes in January in the oil field. In February we expect to have our field in operation as soon as the State of Texas gives us the necessary releases to begin pumping. It should be ready within the next week and we can start the operations. We are going to continue this plan for the audits and for the oil field operations. It is the only way we can achieve the proper results for the company and end the stalemate brought on by Mr. Lumer and the actions of the SEC in holding up our trading ability on the OTC. As the company is now, we have 7 wells equipped and ready for full operations, and another 3 partially equipped and can be ready within a week. With some additional funding, we can have another 6 operating by the end of February. No matter what the audit concludes, 16 wells producing would put the company into the black and we can proceed with the other projects. The company will keep you apprised on the audit program and the field operations as they develop. Thank you for your patience. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd.announced today that the annual shareholders meeting will be held in Reno, Nevada again. It will be on June 13, at the Peppermill Hotel and Casino. The details of the meeting will be sent out under separate cover later this Spring. We expect a large turnout this year as many changes have occurred in the company and the progress on our audits and business development will be available to all concerned. Plan to attend. The hotel has set up special prices for our shareholders and they will be made available as soon as the details can be sent. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd.announced that the audit effort is continuing. We have gotten a better understanding from the former auditor, Marc Lumer and Co, on what promoted his resignation, but the information came to us too late to get the audit process done in 2006. Our new accountants/auditors are reviewing the new information and expect to be able to render us a decision after the New Year. We expect a positive response, as Lumer and Co did not have any specific problem with the audit, just a general apprehension with the historic activities of the company from its inception. This is normal if a company is listed as a “Developmental Company” and not an “Operating Company”. Had our field operators performed satisfactorily in the oil field, we would have had NO problems with the audit completion. We are correcting that problem now and expect to clarify the operating status by February. As soon as that is corrected, we should be ready to proceed with the filing. In addition, we have started the ordering of parts, drawings and plans for the CryoIcix units that were discussed at the shareholders meeting. Jim Frye and Duane Corcoran of Applied Control Technology are getting the items ready so production can begin soon. We could have a unit ready for demonstration by the second quarter 2007. This event alone would change our status to an Operating Company, with or without the oil business. We are pushing on that front as well. Even though we had some set backs in 2006, we remain very optimistic about the future. With the efforts going on now, we shall overcome the audit problems as well as getting the oil field into solid production. Nobody walks away from 12 million barrels of oil! I apologize for the delay, but we have no choices at the moment. As things set now, we should be back in the market in the first quarter of 2007. Management wishes all of the shareholders and supporters, a very Happy New Year and a prosperous 2007 for all of us. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd. announced
that the auditor Marc Lumer & Company, has resigned from performing the
services for the company and will NOT finish the work required to submit to the
SEC. No reason was given. The company was prepared for such an event, and a new
auditor is being actively pursued at this time. More information will be
forthcoming as soon as it is available. Any delays in getting resubmitted to
the exchange are unknown at this time, but as the information becomes
available, we will post it.Eagle Environmental Technologies
Ltd announced that the new auditor has been contacted to continue the reviews
of the company. The preliminary reviews of the accountant work completed by
Mark Bailey and Associates are being done by the new firm. It is still in the
preliminary stages, but progress has been made as to moving through the documents.
It appears to be a three stage process of review, with the first stage
completed and we are in the second stage. The final review or third stage, immediately
follows and we are hopeful that it will be completed by mid December. All
parties are keenly aware of the time deadlines we face and are working
diligently to achieve completion on time. When a definitive date has been
received by the company, we will post that. In the meantime, our attorneys are
still on stand-by to submit the documents to the SEC as soon as they receive
them. Our I apologize for the delay, but we have no choices at the moment. We have never been given a reason for the first auditor’s departure. Our accountant is trying to get a reason for it to pass on to the new auditor. As things set now, we should be back in the market in the first quarter of 2007. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd. announced that the auditor Marc Lumer & Company, has resigned from performing the services for the company and will NOT finish the work required to submit to the SEC. No reason was given. The company was prepared for such an event, and a new auditor is being actively pursued at this time. More information will be forthcoming as soon as it is available. Any delays in getting resubmitted to the exchange are unknown at this time, but as the information becomes available, we will post it. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Brian Wilmot, CEO, announced that the wells in its Siler lease have received the necessary clearance from the Railroad Commission, Oil and Gas Division in Texas, to restart production and sales. The production had been held up for the last 30 days as the company completed several well tests to assure integrity of the wells and safety of the equipment, including the plugging of one injection well. It is a normal requirement of the State to test non-operating wells, but with the number of non-operating wells received as part of our original purchase, it took much longer than anticipated. There are more wells to test, but they will be done in succession as we continue to develop the field. No production numbers are available at this time, but with the field back on line, we can begin to increase the number of wells producing. Eagle management is very excited about our re-start. For shareholder or other information, call John Bowles at: 866-896-5800. ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd has completed
the information on the first two quarters of 2006, and as requested, the first
two months of the third quarter before we can be back on the board. The audit
information is in the Attorneys hands in As to the oil field, we are still
in “severance”. (Not allowed to pump or sell oil by the To quell any questions, the company is NOT in decline, closing or in jeopardy from the lack of oil production. We are expanding our oil field presence, and have undertaking an aggressive move toward developing the CryoYcix equipment. My next news release will detail those changes. Thank you all for your patience and encouragement during the past weeks and months. It is a long haul from this end too. Yours truly, ______________________ IMMEDIATE NEWS RELEASE RENO, NEVADA, Eagle Environmental Technologies Ltd has received the word that the 2005 audit is complete and the written report is being done this week. The accountants and the auditors have finished the reviews of the data from the company. This document covers the previous five years and brings all of the past audits into compliance with the new Sarbanes-Oxley rules. We are VERY PLEASED with this occurrence. The information on the first two quarters of 2006 is currently being reviewed and completed as well. This will not slow us from our re-filing for trading, but before we are back on the board, we will have to complete the first two quarters. The final audit copy will be
reviewed by the company management, and audit committee for any errors or
changes, and be submitted to the lawyers in It may seem like a long lead time to get back on the market, but it will go as fast as the normal logistics allow. Thanks to all of the shareholders, officers and directors for their patience and understanding in getting this difficult item cleared. Brian Wilmot ______________________ IMMEDIATE NEWS RELEASE Eagle Environmental Technologies Ltd herein is providing more information on the current stock trade halting by the SEC. The accountants and the auditors have FINISHED the accounting and reviews of the data from the company! Hard to believe, but it is true. The accountants will have to write the total document up and provide a copy to the auditor for his final verification and review, but the laborious efforts of detailing all of the past five years of transactions is completed. We are VERY PLEASED with this occurrence. The accountants and auditors have done a very difficult job with total professionalism and we at Eagle, thank them. From here, the final audit copy
will be reviewed by the company management, and audit committee for any errors
or changes, and be submitted to the lawyers in It may seem like a long lead time to get back on the market, but it will go as fast as the normal logistics allow. We shall provide full backing to all the participants. Thanks to all of the shareholders, officers and directors for their patience and understanding in getting this difficult item cleared. Brian Wilmot ______________________ IMMEDIATE NEWS RELEASE Eagle Environmental Technologies Ltd, 50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd .provided more information on the
current stock trade halting by the SEC. The accountants and the auditors (two
separate entities) are STILL conducting reviews and reconciliation procedures
on the audits. As of today, they met up in the accountants offices in This event is what we need in order to reapply to the trading exchanges. The management shares your frustration and concerns, and will continue to press forward. The company is NOT in any jeopardy at this time, so we can continue to operate the fields, which are producing at this time. The management and directors of Eagle wish to thank all of the shareholders for their patience in this matter. The management looks forward to the upcoming shareholders meeting in June, where these issues and others will be thoroughly discussed with the shareholders. If you have not yet made your reservations, please
hurry as the hotel has only a few of the special rate rooms left for you. Just
call the Peppermill in 50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the current stock trade halting
by the SEC. The accountants and the auditors (two separate entities) have been
conducting reviews and reconciliation procedures on the audits. As of today,
they are still working to finalize the questions. The holdup seems to be from
the auditor side with questions on the original efforts to obtain the oil
fields, and the subsequent efforts to get the field into production. Management
finds the questions at this time are extremely late in the asking and should
have been provided to management several months ago. We are NOT pleased to announce that the
accountants and auditors have NOT FINISHED
the audits, reviews and finalization of the documents as they had stated, “completed
BY THE END OF THIS MONTH!” 50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the
current stock trade halting by the SEC. The company has been working closely
with the accountants and auditors to complete the required audits in order to
re-file the application (10 SB) for trading. We are pleased to announce that
the accountants and auditors have stated that the audits, reviews and
finalization of the documents will completed BY THE END OF THIS MONTH! This event is the critical feature we needed in order to reapply to the trading exchanges. We are presently completing several forms and the balance of the documents required by the 10 SB filing, so it will be ready for the addition of the financial statements. A definite date for the refilling period will be set in the near future, but we expect it to be near May 1. The management and directors of Eagle wish to thank all of the shareholders for their patience in this matter, and the diligent efforts of our attorneys and accountants in getting this problem solved. For shareholder or other information, call John Bowles at: 866-896-5800 50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the current stock trade halting
by the SEC. The company has hired a The company accountants have completed the material required and are waiting for the auditor review. This weekend, the auditor and accountants are reviewing the information, and updating our “Management Discussion & Analysis” to be sure it complies with the new SEC regulations. Upon the finalization of that process, the information will be forwarded to the law firm for review and filing. We expect the entire process will take about 10 to 15 business days to complete and be filed. At that time, after the filing, we should be back on line. Details of the event will be forthcoming as soon as they are available to us. For shareholder or other information, call John Bowles at: 866-896-5800 50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Brian Wilmot, CEO of Eagle Environmental Technologies Ltd provided more information on the current trade halting by the SEC. The primarily accounting has been completed. The accountants are waiting for the auditor review of the notes and related support documents before their final submission. The auditor has been out of the country until March 12. The accountants have stated that they believe the final documents will be ready for the audit committee by March 24. Wilmot is already in consultation with a law firm from New York City to prepare the final documents for the required 10SB submission to get the stock up and trading again. Further details on the timing of the submission will be forth coming later this week. For shareholder or other information, call John Bowles at: 866-896-5800 50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Brian Wilmot, CEO of Eagle Environmental Technologies Ltd announced today, that the SEC has halted the trading of the Company stock on the OTC exchange. The Company had planned for this event, but the Company did not know the actual date of the occurrence, as it was due to a past action from the SEC. The closing stock price will not change until the Company is back on the market, so no loss of value is realized at this time. The halting of trading was due to the error in the original filing of the 10SB in 2000. The Company was never notified that the original filing had created a “reporting Company”, and hence had not done the correct quarterly filings (8Qs, 10Qs). The SEC had notified us in 2005 that we were in “non-compliance” with the reports, so we agreed to withdraw our original filing, and upgrade our old audited financials to the new standard, include the 2005 audits and resubmit the form 10SB again. The agreement with the SEC saved the Company several hundred thousand dollars and cleared any regulatory clouds from our Company. Management was striving to have the new audits etc. ready prior to the event, but the auditors were unable to complete the extensive reviews instigated by the new laws, Sarbanes/Oxley. The auditors have stated that the audits will be completed in March, and with the audits, and the Managements Discussion documents, we will be resubmitting our application. This new submission will allow us to qualify for the OTCBB (Over the Counter, Bulletin Board) or better, such as the Small Cap NASDAQ. This means more brokers can trade the stock and our trading market can be increased. In addition, we will have the new assets from the oil field, the proven reserves and the equipment, included with the new audits, which should increase the stock value when we re-file. This action, though inconvenient to the shareholder, was a planned event, and will allow the Company to emerge much stronger and have more value to the shares. We are working diligently with the attorneys and the auditors to speed the process up. Your patience is appreciated. For shareholder or other information, call John Bowles at: 866-896-5800
50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Heather Walsh, Eagle Environmental Technologies’ (EGVR) President, announced that four distinct wells in its Siler lease have received the initial Independent Engineering evaluations to ascertain the new zones available for increased production. The production from the old perforations has been slowed over the years due to normal mineral deposits in the well bore. New tests were needed to evaluate the current/old perforations and where we could create new perforations to dramatically increase the production from the same well bore. There are more wells to develop, but they will be done in succession as we continue to develop the field. Early geologic field reports indicate that the additional oil zones in these four wells may enhance production to over 40 barrels per day per well. Some of the zones in question have never been tapped which could mean very extensive flows. Each expanded well is being logged, perforated and chemically treated prior to being put “on-line”. Eagle expects to have these wells in full production by January 2006. For shareholder or other information, call John Bowles at: 866-896-5800
50 W. Liberty, Suite 880, Reno, NV 89501 IMMEDIATE NEWS RELEASE Reno, NV, Brian Wilmot, Eagle Environmental Technologies’, (EGVR) CEO, anno |
