Eagle Oil Holding Company, Inc. (EGOH-OTC: BB)

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August 28, 2009 Issue

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Eagle Oil Holding Company’s Recent Acquisition In Texas With Just Under 1,000 Acres And 170 Wells That Sit On One Of The Largest Oil Deposits In North American History, Provides Great Opportunity As They Bring These Wells Back Into Production

Who is Eagle?     Executive Profile


Eagle Oil Holding Company Inc. (Eagle) is a U.S. public company trading on the OTCBB exchange, (Trading symbol "EGOH ") in the oil and gas industry. The management, which has many years of experience in guiding new businesses, believes that Eagle Oil Holding Company’s growth is dependent on continued production of its oil and gas properties and future planned acquisitions of oil and gas properties.

The Company strategy is to secure existing production fields and use modern techniques to increase the amount of oil and gas flows from the fields. To achieve the objectives of the company, Eagle is currently focusing on the following strategies and its main technologies. The current production in the oil and gas properties is only a small proportion of the total potential. With additional capital investment per well, each well can be brought on line. The market for the gas and the oil is not expected to plummet so the future revenue stream should stay steady with increases based on the number of wells put into production each year. Eagle also has specialized access, from its associate company, Eagle Environmental Technologies, LTD, (www.egvr.com) new technologies as shown here that could be used to augment field production.

The technologies that can be put toward the development of the equipment are:


1)        ZawCAD Cryogenic Technology, cleaning up oil pipe and equipment

2)        ZawMET  Cryogenic processes to clean up oil refining catalysts

3)        CycloMill A unique milling process that allows the recycling of used drilling muds held in the oil fields


As the Company develops its field, the technologies can be used to enhance production and new sources of income.

Brian D. Wilmot, CEO: Graduate of University of Minnesota 1966, Formed Eagle Oil Holding Company, Inc in March 2009, serving as CEO during the formation stage and directing the merger to Ford Spoleti Holdings Inc on April 30, 2009; Formed Environmental Technologies Ltd., in June of 1990, serving as Founder/Director and CEO during the development phase to May 2009; directed merger of Public Company and Eagle creating Eagle Environmental Technologies LTD, and continued as the lead officer and director; 1981-1986, Managing Partner of a gold mining project, wrote EIR report, designed the mining operation, facilitated the management organization of Limited Partners. 1979-1980, Organized and co-founded the New Central Sierra Bank, served as the Chairman of the Board, directed all State and Federal approval processes, recruited the directors and President, Currently the bank has five branches. 1977 to Present, a Real Estate Broker within California; 1973-1979 co founded Office Supply Store and Leasing company in California; 1966-1973 Area Supervisor for Texaco Inc. in Minneapolis.


Eagle Oil Holding Company, Inc.
50 W. Liberty, Suite 880
Reno, NV 89501
Phone: 916-560-3232


Interview conducted by: Lynn Fosse, Senior Editor, CEOCFOinterviews.com, Published – August 28, 2009

Mr. Wilmot, what is the vision at Eagle Oil Holding Company?

Mr. Wilmot: “The vision is we bought the inactive field in Texas and our particular plan was to instigate well-by-well new production out of this field; it was one of the largest leases in that area. Our plan is to bring in so many wells a year until we get the full production levels and from that the enhancement of the wells from what they currently are doing to what they could be doing with some of the new technologies. We actually are an offshoot of a former technology company that has some technology that they wanted to try in the field and we will probably end up doing some of that. So our basic goal is to not only get production up, but to increase it with new methods and new ideas that are not common in the field at the moment.”


CEOCFO: What did you like about this particular property?
Mr. Wilmot: “This particular one has over 170 wells; basically a well is just a hole in the ground, but now days that is about a $300 thousand hole. These wells were in one of the primary fields. It was the largest oil deposit in North America for many years up until North Alaskan Slope, and it still is a large productive field, but most leases on this field are really small from one to five wells. Our field is just under 1,000 acres and with 170 wells on it, all which may be great candidates to putting back on line. It just has such huge potential and the seller was anxious to move on because he was from another state and he wanted to go back. So we just managed to be at the right place at the right time.”


CEOCFO: Would you tell us about some of the new ideas that you would like to try?

Mr. Wilmot: “Right now there are about three different methods. One is the talk about using microbes down hole as they call it, to break down larger globules of oil to smaller globules, which then would travel through the porous rock easier. There are other ones that also use microbes to actually clean out rock formations so that oil can flow through the rock formation. There is another one that is recently coming out of Russia, which uses a type of electrolysis down the holes where they increase electrical pulsations through the formation. However, that has to be done with what they refer to as water flood type of deposits, which we happen to be. Water flood deposits allow the oil to float on saltwater. So electrolysis might actually be a functional way. In addition to that we have technologies in cryogenics, which uses a system to clean out tanks, pipes, and other equipment that could make them less corrosive and more functional. There are some other ones that are brought up, but we haven’t gotten into them yet. These are some chemical treatments and some other items that they have looked at, but they come generally through the environmental side, which was the previous company.”


CEOCFO: You recently changed names and ticker symbols; what is the financial picture like for the company?

Mr. Wilmot: “We are close, since the recent change-over we haven’t got everything in place, but we have in proven reserves over 12 million barrels of oil. So that has given us a great incentive and right now we have negotiated some new loan capital formation items with a couple of investment firms. They haven’t been concluded, but they should get us a jump-start in August with what we have. With the previous operators in the field, we had four wells running and we will get those back up on line in the next couple of weeks, so by the end of August we should have another four. This would allow us to be pretty much cash flow self-sufficient by September, so the amount of Capital required is not going to be that extensive. From that, we can then use bank financing, because once you have a certain cash flow, the banks actually step in and work with you in the Texas field.”


CEOCFO: What is your two-minute take on world energy situation?

Mr. Wilmot: “I don’t see the energy crisis as others do. The oil business is going to be around for an eternity in a sense because it is more than just gasoline and diesel products, because you have everything in the world made from this stuff. So you are going to have a steady demand no matter what it goes for. With the sophistication now of the catalytic converters and catalytic crackers that break the gases and the oils down, you can get more products out. You can use them more, they can combine, they can split, they can make additional items and you can even blend better and use more synthetics. So I don’t see the oil industry declining. It is a little more difficult to get massive deposits obviously like they did in Saudi Arabia and other places, but you still have the capability of making a lot of wells better which are now marginal producers. They are still using the pump jacks, which go back to the 1930’s. So I don’t see it as a negative at all. I think the oil business is going to be a strong economic drive for many years to come.”


CEOCFO: How does the price of $60 a barrel work for you?

Mr. Wilmot: “Well I like it! The higher it would be, I would like it better! With a lot of these companies it is how you do your budgets. You can attribute more things to the lifting cost; you can tag more money to it or less money to it. It is an accounting situation. On the average most people have a lifting cost of probably around $12, so to produce a barrel of oil costs you $12. Everything above that is going to go to your management cost or other plugged-in numbers, which will make your figures go up or down depending on whether you want to make a profit or a loss. But the basic elements $12, and $50 or $60, you will have a nice margin to play with and that is what you will really see when you hear about it. I used to work for Texaco years ago and it had a vertical integrated oil company, and each one charges a fee against the same barrel of oil. So by the time it gets to the parent up there it is costing $45 a barrel for a $50 barrel of oil on the market.”


CEOCFO: Are you looking at other acquisitions?

Mr. Wilmot: “We have been approached by several, but at this stage not yet. We would like to think that first we better get our own field in order. We are trying to get up to roughly fifty wells going here in the next six months, and at that stage we will be in such cash flow that other fields will be relatively easy to integrate and bring them in as long as we don’t have to do a lot of infrastructure like we had to do here. Even the roads were shot in this field, but if you can beat some of that, you can bring in other fields without a lot of cost.”


CEOCFO: What might the challenges be toward achieving your goals?

Mr. Wilmot: “The biggest challenges are working these old wells. Most people think it is just a lovely little hole in the ground, but some of these were drilled in the 1940’s, 1950’s, and 1960’s, they have collapsed down-hole, the casings collapse; so you get a surprise almost everyday from one of them. You think you have a straight shot and then you go down and if you are down 2000 feet and half your system is gone down there and then you have to either rebore or refix or do something. The challenges on an old field are still trying to repair or at least use what you can and repair the rest. You have serious problems if you have breakdowns down the hole because you can contaminate fresh water. You also have other items that could damage equipment, so the challenge is still in the old holes.”


CEOCFO: Is it easier these days to find people to work in the oil field?

Mr. Wilmot: “Two years ago when we first got into the field, before we did all the changes, it was quite difficult. Most of these work-over rigs or repair rigs as they call them were in high demand, so you had to actually look for guys sometimes weeks in advance. Therefore, getting experienced labor was difficult. but now it has been easy. With the little bit of slowdown in other related fields, you can get fairly good employees and there is actually a little more work ethic coming out from the work-over rig. They are more available and the prices have come down a bit, to hire a crew and work on a single well can run you about $5,000 just for their service. Then whatever you have to do to the well, so you can run $15,000 or 20,000 on a well. Now they are down to $2500 and $3000, so you save a little bit here and there and some prices in the equipment have come down. Overall the situation is improving.”


CEOCFO: Address potential investors; why does Eagle Oil Holding Company stand out over other oil companies and investment opportunities?

Mr. Wilmot: “Probably the best thing is that we are sort of a fresh-face on the market, and the potential growth is large with us. We have an integrated field; it is compact, but about 1,000 acres. We have our own infrastructure, our own water ejection system that was a salt-water driven field. In most fields they have to haul the saltwater off when it comes up with the oil, but in our case we can do separation re-injection, so it is probably more cost efficient than almost anybody around us. I think the potential for the investor to see growth in our particular company is going to be rather astounding because we think we have a limited small number of shares outstanding and it seems to be that you can have nothing but an upward tick on this thing.”


CEOCFO: And you are going to have cash flow shortly!

Mr. Wilmot: “Yes we should have cash flow before September!”


CEOCFO: That is pretty fast!

Mr. Wilmot: “Well we have to; we would get awful thin otherwise!”


CEOCFO: Final thoughts, what should people remember most about Eagle Oil Holding Company?

Mr. Wilmot: “People should remember that we actually have a history of being an environmental company. That is what we were spun-off from. We have concerns for both the environment as well as needs of the economy. I think it is something that is a unique combination that you will not find in most cases. Now days you see the oil companies trying to become green, we were already green before they ever got here; I think that is going to give a good background.”


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“Probably the best thing is that we are sort of a fresh-face on the market, and the potential growth is large with us. We have an integrated field; it is compact, but about 1,000 acres. We have our own infrastructure, our own water ejection system that was a salt-water driven field. In most fields they have to haul the saltwater off when it comes up with the oil, but in our case we can do separation re-injection, so it is probably more cost efficient than almost anybody around us. I think the potential for the investor to see growth in our particular company is going to be rather astounding because we think we have a limited small number of shares outstanding and it seems to be that you can have nothing but an upward tick on this thing.” - Brian Wilmot

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