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EEGC for me this week
Empire Energy! What do we have to look forward to?
Answer is simple! TOMORROW!
Tomorrow brings us a day closer to finding and delivering oil.
Tomorrow brings us closer to supporting the financial needs of Tasmania.
Tomorrow brings us closer to allow Australia less dependent on foreign oil, A very important part of national security.
Tomorrow brings us closer to financial independence for EEGCs share holders.
What about the past?
Answer is also simple! It was the work that was done in the past that brought us to this point with all the research.
Now we can drill with much higher hopes of striking oil and or gas and making our dreams a reality.
EEGC for me.
Empire Energy, A start up company with the goal to generate profits for its shareholders.
Even though EEGC has been around for many years its still in the start up mode because it has no revenue as yet. Thats is going to change in the near future because the company has more then one product/service that has the potential to generate revenue.
Most start up companies are funded by selling stock or have investors that aid in the kick off in hopes they become self sufficient quickly. Some companies make money in the first year and some years down the road and some never and sooner or later go out of business or are bought up by other companies.
With EEGC we have a company that is devoted to finding Hydrocarbons, mining them and bring them to market. To meet this goal certain expertise must be incorporated into the program. To accomplish this a Joint venture will be formed using a world renowned mining and management company that will do the actual mining and share in the profits.
EEGC has progressed beyond the one product company it started out to be. We now are in the process of marketing Flare Gas nanotechnology that will generate large amounts of revenue and contribute to the uptrend of the share price.
Its taken a long time and many barriers to jump over to get to this point and I don't doubt there will be more along the way but with the very capable management led by Malcolm Bendall we will forage ahead.
The cost to run and develop a company of this type is staggering and there will always be a need to raise on going funding. You just don't drill a well and call it a success. It takes hundreds of wells and years of work to make it all happen.
The most horrible, dreaded word in the English language is PATIENCE, with out it we are doomed.
QUESTIONS & ANSWERS ABOUT EEGC:
When you see an answer to a question with "Contact the company or malcolm" It usually means its a dumb question and the person is trying to nicely get rid of the person asking. Too much concern for all of the details will get you a hole in the lining of your stomach. When you ask a question on a message board you are asking a response from people that don't know the answer. So don't ask. As things unfold you will be either happy or not, If not sell the stock and you will sleep better. A lot of answers can't be given as they are considered inside information. Impatience can kill. Most of the answers I give out are from my own past experience and its how I would handle the matter. This is not always the correct answer.
As to Malcolm buying up the untended shares, Yes I feel comfortable he will.
Now as far as on going company activities and questions you may have, You or anyone else are not entitled to answers till the company publishes it for all to see at the same time. It violates SEC law to give information to some and not others and the penalties are severe. If you continue to be an investor you must have patience.
Its the English language that's at fault when Malcolm said he intends to buy the left over shares of EEGC from the rights offering.
"UNTIL ITS ACTUALLY BOUGHT IT IS CALL INTENTION TO BUY, ONCE THE TRANSACTION IS COMPLETED IT IS BOUGHT!"
Rights offering ends tomorrow.
Hunt has plenty to worry about. From what I have heard they failed to perform when they were given money, but that is just hear say and not my problem. I figure that since you are already an employee of hunt they know full well whats going on.
The massive amount of drilling that will be required may still provide some work for Hunt, but that remains to be seen.
The company EEGC is buying it from says the ship time is 6 weeks. I have no reason to doubt them. We may not use the new rig for Bellevue. The rig was ordered for another reason about a year ago.
It takes 2 weeks to move a rig from Australia to Tasmania, some more time to move to the site and this was done several times in the past 6 months with the Hunt rig for Michael Roberts that was used on the property Malcolm gave up and they used a divining rod to determine where to drill. What a joke. These people are suppose to be professionals.
The new rig will take about 6 weeks to reach Tasmania + quarantine + a short run to the site because this is a mobil rig and transportation over the road is very fast compared to old style rigs.
The actual drilling at Bellevue will take place using a choice of several rigs. The new rig will drill to a depth of 15,000 feet and may not be needed but should that change its a quick swap and set up. The rigs to start will drill to 9 to 10,000 feet.
As far as the scientific process used to determine the quantity of oil in the pool that is sampled that's not my bag. Its why we have expert oil people doing the work and management of the property.
The company that EEGC will have a joint venture are world renowned and have many experts to do what ever is determined to be done and not the Mickey Mouse operations that are conducted by Hunt. The company chosen will be honorable and perform the tasks they are suppose to do in a timely manor.
Yes it is closed here. I didn't write the report and neither did anyone on this board. If you want to question any part of it contact the person that wrote it or the company.
The economy of Tasmania will take a leap forward with the discovery of, and delivery of oil/gas and coal/methane because Tasmania gets 12% of the revenue received from the sale of these products. As far as what markets will receive the actual products that's is determined by the contracts they sign.
I don't know where you are getting your made up data from but the RPS report I have seen dates December 22, 2009 is 9 pages long.
Where do you get data from page 49 when its only 9 pages long.
Actually its more then 2 months but who is counting days.
You have neglected to figure rigs located in Australia and a Joint venture company that has resources as well. Don't second guess the company.
The Thunderbolt assumption by RPS Energy PTY Limited is as follows:
"The Thunderbolt Prospect contains a Mean Case Prospective Resource volume of 88 MMstb in the Gordon Limestone. Assuming the Thunderbolt Prospect contains a medium gravity crude of approximately 30 deg API with a moderate water drive, an average drainage area per well is expected to be 40 acres. Therefore, using the mean area of the reservoir of 12 sq km, 74 vertical wells are required to drain the reservoir, equivalent to 1.2MMstb per well."
The Bellevue assumption by RPS Energy PTY Limited is as follows:
"The Bellevue Prospect contains a Mean Case Prospective Resource volume of 359 MMstb (un-risked) in the Upper and Lower Units of the Gordon Limestone. Assuming the Bellevue Prospect contains a medium gravity crude od approximately 30 deg API with a moderate water drive, an average drainage area per well is expected to be 40 acres. Therefore, using the mean area of the reservoir of 58 sq km, 360 vertical wells are required to drain the reservoir, equivalent to 1.0MMstb per well."
I have no idea where you came up with your figures but they are wrong.
They have the capabilities to analyze the oil on site and once oil is discovered a devise will be lowered into the hole to determine the removable quantity in the pool servicing the well. We are very close to an oil strike and I estimate drilling, if all goes well as planned, to begin in October.
Good morning:
The rights offering expires on Friday and I would expect a PR in the following week with the results. Malcolm will buy up all the options not purchased by those able to buy. He can't post results until its over and all those entitled, have the opportunity to buy.
I think a PR was scheduled to come out last week and held off till the results of the Rights Offering could be released.
The PR, I believe will cover more then the rights offering. We are moving right along and all is positive. I haven't posted because there is nothing to say. Patience. Lets allow the company to move ahead at its own speed.
An absolute must read:
SEL13/98 final report
Located on the Web Site: http://www.empireenergy.com
History of the company
Recap:
Friday July 9, 2010
Financing Progresses, Sure Fund Issues up to USD$180 Million in Principally Protected Notes in Favor of Empire's 12 Hole Drilling Program
LEAWOOD, Kan., July 9 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire) (Pink Sheets:EEGC.pk - News) and its wholly owned Australian subsidiary, Great South Land Minerals, Limited (GSLM) announced on Friday, July 9th, 2010 that Sure Fund, an international investment fund and member of the Sure Group of companies (www.surecapital.org) has agreed to issue up to USD$180 million in principally protected notes in favor of Empire Energy's 12 hole drilling program. This financing is intended to consist of up to nine USD$20 million rated "A" notes, each principally protected and offering a strong structured return. The notes will be payable on a quarterly basis and available to any investor.
Empire and GSLM CEO Malcolm Bendall said, "With today's announcement by Sure Fund, Empire's potential financial position continues to strengthen. Sure Fund's USD$180 million principally protected notes are planned to provide Empire and GSLM with the financial capacity to drill and test a minimum of 12 of its highest priority oil and gas targets. Sure Capital has also commenced discussions with Empire regarding funding in the sum of USD$300 million for the development and commercialization of a proprietary flare gas technology for which Empire has first option on the North and South American rights. As previously publicly disclosed, the international firm AECOM has estimated that Empire's annual revenue stream from the flare gas technology applications in North and South America has the potential to achieve USD$2.7 billion per annum." AECOM is a global provider of professional and technical management support services to a broad range of markets, including the energy sector.
GSLM is currently in the process of preparing a submission to the Tasmanian Government for expansion of its licensed areas under both Exploration License (EL) 14/2009 and reinstatement of the Special Exploration License (SEL) 13/2009 area.
Empire's Rights Offering remains open and is scheduled for a closing date of July 30, 2010.
It is the intention of Empire and GSLM that, once financing has been successfully completed and the Company is in a stronger financial position, it will advance its early stage discussions to create a Joint Venture with a gulf region oil company to manage the business operations for the full development of oil and gas in the Tasmania Basin.
Empire Energy Corporation is an international oil and gas exploration company, focusing on developing assets in one of the world's last virgin basins and to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Tasmania's central and northern basins.
This press release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward- looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward- looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements. For a more detailed discussion of risks and other factors related to Empire Energy Corporation International, please refer to 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission.
Contact: Malcolm Bendall
913-663-2310 begin_of_the_skype_highlighting 913-663-2310 end_of_the_skype_highlighting begin_of_the_skype_highlighting 913-663-2310 end_of_the_skype_highlighting
Oil in Tasmania---bet on it!
Zeddy knows there is oil!
Investors Zeddy knows full well we have oil in Tasmania but he persists in downing the company and the Ceo Malcolm Bendall
This is as a result of Zeddy being caught out by Malcolm.. in other words Malcolm was too clever to the capers Zeddy was committing .
In fact Zeddy was euphoric when the company was in its infancy, but after he fell out of love with EEGC and Malcolm he has badgered the company ever since which will see him in court for conspiring to injure. There is oil and plenty of it !!!.
Good morning:
This is closing week for the rights offering.
We have come a long way and still a long way to go.
Ask yourself why would Malcolm spend millions of dollars on a stock costing him 7 cents when he could buy it for 3 cents?
What does he know that makes him want to own so much stock if he thought there wasn't value, could it be oil?
Why does a person claim there are no oil pools when pictures taken and posted on the website and IHUB IBOX prove there existence?
All the answers will be revealed in the weeks and months ahead.
Just 5 business days till the rights offering ends. That translates into a fat injection of money into EEGC treasury.
We will use the money to drill a well.
How can I tell if its a good morning till after the fact. If I say Good Morning it would just be a hopeful guess.
up to 3 business days after July 30th is the normal rule but it could come the night of July 30th after the market closes.
Good Morning:
We are about to start a journey toward great wealth. Being a share holder in one of the last great oil finds in the world. With the problems of extracting oil deep in the oceans the land masses of oil becomes more valuable. EEGC is the place to be invested as the potential of oil remaining to be retrieved lies under ground in Tasmania and Empire is poised to bring it to the world.
We know its there just waiting for the taking and the proof is right before your eyes. Seepage pools, seismic plotting and even the enemies of Empire Energy know the oil exists. People have committed crimes to get control of the leases in Tasmania. Like any criminal activity its the lure of money that drives them to take the risk of getting caught and going to jail. Smart people take a different risk, and one that will keep them free as a bird. All they have to do is buy shares in EEGC and share in the profits. Sometimes greed takes over the mind and bad decisions are made. I say get back on track and join in on the new group on wealthy investors and live free without fear of being locked up.
No, not wrong because the asset value is above zero in liquidation and by your own admission you say the bottom is .0001 and my math teacher told me that is above zero. In any case all your rhetoric is for naught and will prove out in the weeks ahead.
Empire will deliver oil to the world and make the shareholders wealthy. You could join us by simply buying some shares.
Vegas you play with dollars and the odds are against you but even in Vegas people win, not often mind you, but they do win.
Now we are talking stock. The only ones that can lose all their investments are people that short because because the stock can keep rising creating never ending losses. Even a smart person that shorts covers their bet with an offset buy. Hedging your bet is what hedge funds do.
When buying EEGC stock at 3 1/2 cents the bottom is not zero. Its some number above that and that to means the downside risk is limited, not so shorting stock.
Lets talk about OIL and EEGCs part in the development of oil fields in Tasmania.
It doesn't matter weather you are for or against EEGC on the CEO or even little old me. The real reason to be here is to make money. Thats is really the goal and oil is just the commodity to make said money.
So I say to the Naysayer disparage away but be smart. While you are trying to sink the company maybe you should buy some shares. I know that you want to make money as does the rest of us so why gamble when the downside risk is nil. Mark Callaway said there is more then 30 billion barrels in Tasmania from the seismic graphs. I have heard there is as much as 100 billion barrels but the fact is we just don't know. So here is your big gamble for an investment of 3.5 cents per share down side risk what is the upside potential.
At 100 billion barrels and 412 million shares o/s that comes out to 242 barrels per share x the net profit of $50 a barrel that comes out to $12,100 per share. OK say I am full of crap lets say there is only 1 billion barrels using the same math that's 2.42 barrels per share x $50 per share thats a return of $121 per share. Hmm why would anyone invest 3.5 cents to get a return of $121. Answer is its the sane thing to do.
Is there oil in Tasmania. Yup sure is. Remember those oil seepage pools. That's not Dingo pee or alligator spit, its oil. Oil has already been discovered off shore and the research by EEGC shows there is oil on shore. So my conclusion is that it doesn't matter if you hate the company or love it you should be a share holder because there is little or no risk.
The goal is oil, lots of it, maybe more oil then Saudi Arabia has.
By the inch its a cinch, by the yard its hard. but we are getting there.
Oh give me oil, lots of oil under starry skys above.
Weeeeeeeeeeeeeeeeeeeeeeeeeeee!
Ah but you omit the fact that we didn't have a lease till the very end of the offering dead line and hence it was extended, as was stage II. Its a whole new world for EEGC.
The entire offering will be a total success.
I AM GOING TO BE RICH!
Only 6 more days till the rights offering closes then as Batman would say! Kaaabooom, throw in a kapow.
Just a reminder about EEGC on this Thursady morning:
W E - A R E - G O I N G - T O - B E - R I C H !
No. Its the MMs . Yes it is a small profit in a day or week or month on any one stock but MMs make markets in many stocks and the small profit on each stock multiply many fold and brings the profit in a year to millions of dollars taken from the unsuspected share holder.
Just like the cornor grocery store doesn't make much on a container of milk but add up all the other products and its a nice living.
EEGC investors have to understand that there are TWO DIFFERENT business we are dealing with here. Empire Energy and the Market Makers. The Market Makers are in business to make money the same way as EEGC is. But they have the advantage of using EEGC to manipulate to make their money. The MM makes the spread, (The difference between the Bid and the ask) They will drop the selling price to scare the investor to think their is panic selling. Its a false pretext. If they can accumulate a source of shares then they have product to sell at a higher price for a profit. It has nothing to do with the wealth or value of the company. For value look to PRs to disclose potential value not stock trading action. Hold on tight to your shares and don't be frightened to sell.
Looks like the market makers are moving the price down in a scare tactic to get you to sell. Its their method of accumulating shares to fill on going orders. Dumb move on no news. If you decide to fill the coffers of the MMs then you deserve what you get.
I think if you just wait a while you will be very happy. Hell thats just me.
EEGC is well on the way:
I have just talked to Chicken Little and the sky is not falling and the world will continue to flourish we will provide it with oil.
We will start with Bellevue first then on to Thunderbolt.
The first clue is the oil seepage dating back to the early 1900s. After that some fool developed seismic graphic. Now to add to the confusion someone invented the devining rod. Oh well there has to be a set back somewhere in the process. Well anyway we don't use which craft and we are on target to bring home the bacon, thats pork talk.
Just wait the tide will change shortly as the Rights Offering closes and funding wraps up the lease updates will occur and the reinstatement of the missing domes and sites.
The objection to the lease by MRT was money. Enough money to service the other sites. With the $180,000,000 financing the objection will disappear.
Over 1,000,000 shares traded in the first 16 minutes.
Another trading day has bit the dust and we move closer to the end of the rights offering. With the close we move in several directions at once. The drill rig will soon be paid for and shipped.