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I would certainly think so. You just don't give away $180,000,000 without conditions. The PR states that so that's not news. I also know that all those conditions are E A S I L Y met. I also know that there are dedicated people working for the company that are increasing the wealth potential of the company with meetings and providing data to the powers that request it.
I look to about October 1, 2010 to start the drill turning and about a couple of weeks for favorable results.
The reasoning about the date of October 1, 2010 is because of the season change in Tasmania. Bellevue is about 4,000 feet above sea level and the weather could hold things up till then, but it could be sooner. If there is no snow on the ground its a go.
In addition remember that the rights offering will wrap up the end of this month bringing in a bunch of money.
All is bright on many fronts and its all going to happen at about the same time. I just love it when a plan comes together.
There are many much less expensive methods of detecting oil pools.
We used seismic graphing as just one method.
The people that got the license that EEGC gave up used a devining rod. It was a toss up either that or Voodoo but their was a 2 month wait to schedule a which doctor.
Our methods results have been reviewed by independent oil authorities and have confirmed the results.
As most already know we are getting $45,000,000 a year for 4 years to drill at least 12 wells and maybe more. In addition the company is in talks to raise another $300,000,000 for the Flare Gas and as we speak they are working with MRT to get the missing sites restored. They were removed in the past for lack of funding. That's no longer the case. In addition the company is filing for the offshore lease for exploration. We will have a new rig capable of drilling 15,000 feet. This will come in handy to drill Bellevue and other deep seated oil pools.
I would like to talk about just how rich I expect to get but I don't know. I expect it to bring me great wealth. I have a formula and it goes like this: Buy a bunch of stock x a load of oil x many, many wells = several fat bank accounts. You are welcome to use my formula.
The back to site agreement was signed after that suit and it was dismissed. But like I said they never report the facts only post anything to make the company look bad.. That is attempted stock manipulation and I don't doubt it illegal if someone wanted to report it to the SEC.
A back to work agreement was executed by Hunt and Empire and Stock was issued to secure the debt. I don't know the details but what others are posting are spin and changing facts to suit their purpose. You can e-mail the company for answers but there was a law suit that was eliminated after the agreement was signed so I see no problem there. You just can't listen to what these people are saying. Its never accurate and distorted to suit their purpose.
EEGC could be compared to a great football team:
Malcolm Bendall is the Quarterback working with a dream team. Together they will see the supperbowl.
The company is in business to make money and to date it has not happened, BUT!, that's about to change!
Everybody either knows about the past or can research back on the website and find it out, but I am more interested in the future. I see money to be made with a Joint Venture to explore and extract oil, gas and coal/methane in the near future. I also see money coming in from other areas like Flare Gas technology and other ventures that will develop. One such venture is the use of our new Drill Rig coming to Tasmania soon. It can be used to drill wells up to and beyond 15,000 feet vertical. There aren't too many places that require such deep drilling YET! There are other companies that are seeking oil that will require such a rig and with our rig being readily available it a perfect situation for a joint venture generating additional revenue to the company. I see no down side risk for a stock priced at less then $.04 but I see a huge upside.Its all coming..Just takes patience.
Empire Energy Corporation International (EEGC) is your investment and that makes you a part owner!
What you hear and what you read can affect your share price and motivate you to buy or sell.
Truth is in the eye of the reader. What is proof for one is questionable to others. Even reading Press releases are open to interpretation. For those that believe in a company they should believe the company presents a fair picture of the situation and for those that don't it doesn't matter what the company or anyone else says.
My advise is to listen to the Press Releases from the company and if you don't understand what they say call the company or e-mail them for to explain. NOT ANOTHER POSTER!
You as an investor have put up you money to see the company produce results. You didn't invest in a poster or some other self professed preacher. Its your money and as a shareholder you are an owner. Support your company and your investment. When people talk against your investment they are talking against you.
Take a side step away from all the typical posting going on and think for a few minutes about the staff and the directors involved with EEGC/GSLM. Look up their qualifications and you will see that they are devoted to seeing the company strike oil. Many of these people are using their own money to carry on. Malcolm both, himself and his family have raised money to support the project. They have mortgaged their own houses. This is total dedication because the are so sure there is huge money in this venture. Other companies have discovered oil in the off shore areas of Tasmania and thus the reason for filing for an additional exploration license. Why would Michael Roberts do everything in his power to obtain licenses that are now held by Malcolm if he didn't think there was big money there?
He already picked up a property let go by Malcolm and drilled and found dust. He used the very scientific method of a devining rod. Its a riot, talk about inept management. Someone walks around with a stick and when it pulls toward the ground that's the spot. Maybe the guy had an itch or tripped, Oh well millions of dollars were pissed away. EEGC went in a different direction. He spent years hiring companies trained in research using seismic graphing to locate pools of oil. They started to retrieve to oil when the economy turned sour. They only got down about 900 feet or so and the rig was pulled for financial reasons. So, is there oil there...YES!, How much oil? I don't know! I have heard numbers all over the place but to find out you have to drill and test.
There is a lot of noise by people that confess to know everything but in reality know very little. The word must come from the company because they are the ONLY ONES that know. You could ask your barber or the clerk at the shoe store. His knowledge is about equal to many of the posters. Its your money people and if your in it think positive.
There seems to be a bit of confusion over terminology:
EEGC is not looking to discover oil or gas at the Bellevue and Thunderbolt sites. That's already been done and the reason they spent over $50,000,000 to gather that information. What they now seek to do is recover the oil and gas they found. Its there we just have to take it out of the ground. We don't know how much is there and won't know till a hole is drilled and they drop measuring equipment down and measure it.
The company found it quite a while ago now we need to bring it up and make money selling it.
That is what this is all about. I would not listen to the people that have an interest in seeing this fail. Failure is not an option.
EEGC for me thanks
I had no idea……
THIS IS VERY INTERESTING
A repeat, but new pictures!
Railroad tracks.
The US standard railroad gauge (distance between the rails) is 4 feet, 8.5 inches. That's an exceedingly odd number.
Why was that gauge used? Because that's the way they built them in England, and English expatriates designed the US railroads.
Why did the English build them like that? Because the first rail lines were built by the same people who built the pre-railroad tramways, and that's the gauge they used.
Why did 'they' use that gauge then? Because the people who built the tramways used the same jigs and tools that they had used for building wagons, which used that wheel spacing.
Why did the wagons have that particular odd wheel spacing? Well, if they tried to use any other spacing, the wagon wheels would break on some of the old, long distance roads in England, because that's the spacing of the wheel ruts.
So who built those old rutted roads? Imperial Rome built the first long distance roads in Europe (including England ) for their legions. Those roads have been used ever since.
And the ruts in the roads? Roman war chariots formed the initial ruts, which everyone else had to match for fear of destroying their wagon wheels.
Since the chariots were made for Imperial Rome, they were all alike in the matter of wheel spacing. Therefore the United States standard railroad gauge of 4 feet, 8.5 inches is derived from the original specifications for an Imperial Roman war chariot. Bureaucracies live forever.
So the next time you are handed a specification/procedure/process and wonder 'What horse's ass came up with this?' , you may be exactly right. Imperial Roman army chariots were made just wide enough to accommodate the rear ends of two war horses. (Two horses' asses.)
Now, the twist to the story:
When you see a Space Shuttle sitting on its launch pad, there are two big booster rockets attached to the sides of the main fuel tank. These are solid rocket boosters, or SRBs. The SRBs are made by Thiokol at their factory in Utah
The
engineers who designed the SRBs would have preferred to make them a bit fatter, but the SRBs had to be shipped by train from the factory to the launch site. The railroad line from the factory happens to run through a tunnel in the mountains, and the SRBs had to fit through that tunnel. The tunnel is slightly wider than the railroad track, and the railroad track, as you now know, is about as wide as two horses' behinds.
So, a major Space Shuttle design feature of what is arguably the world's most advanced transportation system was determined over two thousand years ago by the width of a horse's ass. And you thought being a horse's ass wasn't important? Ancient horse's asses control almost everything... and
CURRENT Horses Asses in Washington are controlling everything else
If you take Bellevue 90% and Thunderbolt 90%the total anticipated is 399,000,000 barrels of oil x $50 net profit per barrel = $19.950 billion divided by 412,000,000 shares o/s comes up to $48.42 per share.
That's 2 sites and about the worst case.
Well my comments are:
1- I'll take it.
2- anything more is gravy
3- With only 2 sites what about the rest
4- Flare Gas only adds more.
5- I expect from what I know the $48.42 should be multiplied by about 62. For those that can't do math stop at about $3,000 per share.
I don't post these numbers because nobody will believe it, and oh by the way my nombers may well be on the low side.
Lets wait and see.
MY opinion on how to make money in the stock market:
1 - Buy and hold EEGC stock. Its easy to do and not at all involved.
2 - Print phony stock certificates in your basement. This is near impossible if you don't have a basement. If you could its very messy and you could get ink all over yourself.
3 - Organize a gang and hold up Goldman Sacks. There is a 3 day waiting period to buy a gun. Very time consuming.
4 - Sell stock shares you don't own. this is very popular among Brokers and market makers and they do it all the time.
My choice is the first one. Its easy, Pry open your wifes handbag and snatch some of the horded $100 bills, run to your broker and deposit them, then put in an order at the asked and you will sometimes get your shares if they don't raise the price on you.
Then watch the trading right after you take 2 antacid pills like tums. Don't worry about the stock dropping right after you buy it because it a joke all the MMs play when the get a new investor to part with some money. If your wife asks you if you have seen the missing $100s simply lie to her and say it must have been a burglar and yell at her for leaving her purse lying around unattended. That's always a good ploy and it changes the direction of the argument. Try not to use this more then once a week or she may catch on.
Flare Gas, something to consider:
Of the $2,700,000,000 potential income, if we were to do only 15% it represents $1.00 to the share value. There are people already interested in it.
EEGC article today in Australian newspaper:
Australia: Empire Energy signs US$180 million agreement for 12 hole drilling programme in Tamania
http://www.energy-pedia.com/article.aspx?articleid=141092
Photo - see caption
Empire Energy Corp International, with its wholly owned Australian subsidiary, Great South Land Minerals Limited (GSLM), has announced that the Company entered into an agreement with an international finance company, Sure Capital to provide structured financing in the sum of US$180 million, conditional upon the completion of prerequisite documentation.
In May 2010, Empire signed a memorandum of understanding with Sure Capital at their offices in Hamilton, Bermuda to initiate the process for providing structured financing to Empire in the form of $45 million per annum over a four year period to support the Company's license applications and the resumption of its drilling operations. Empire's financial and legal advisors have been working with Sure Capital management, which has culminated in today's signed agreement. The terms of the Agreement are based on the USD$3.3 billion estimated value of the license area that Empire and GSLM have asserted legal claim to. Australian accountancy firm WHK Denison provided this industry valuation based on the work of international independent competent persons firm RPS Energy. This industry valuation has been included in Empire's recently amended Form S1 Registration Statement which was allowed to become effective by the US Securities and Exchange Commission (SEC) on June 21, 2010.
Empire and GSLM CEO, Malcolm Bendall said, "the Rights Offering will conclude on the 30th of July 2010 and I confirm my intention to take up any outstanding shares that remain unsubscribed. This additional capital supports the 12,000 square kilometer license area applied for under SEL 13/2009, the restoration of the full area of SEL 13/1998 and recommencement of the Company's 12 hole drilling program. The Company intends to commence drilling at the Bellevue and Thunderbolt sites and also intends to drill the structures valued by RPS Energy at over one billion US dollars that were not included in the license area granted by Mineral Resources Tasmania. These additional structures will now be the subject of an appeal by GSLM to the government. The agreement entered into today with Sure Capital, provides sufficient finance to drill all 12 structures. I remain focused on working with the Sure Capital team to complete the remaining documentation and ensure it is completed promptly."
It is the intention of Empire and GSLM that once financing has been successfully completed and monies have been disbursed, it will advance its early stage discussions to enter into 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 today advised GEFCO in the USA of confirmation of the conditional order contract and requested preparation for the coordination and shipment of the SpeedStar 1100 drill rig to Australia. Once the purchase contract is finalized, the rig will be shipped to Australia within 6 weeks.
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.
A technical report covering SEL 13/1998, is available on the Empire Energy web site at: Final Report of Special Exploration Licence (SEL) 13/1998
Source: Empire Energy
EEGC, News article published Today!
Australia: Empire Energy signs US$180 million agreement for 12 hole drilling programme in Tamania
http://www.energy-pedia.com/article.aspx?articleid=141092
Photo - see caption
Empire Energy Corp International, with its wholly owned Australian subsidiary, Great South Land Minerals Limited (GSLM), has announced that the Company entered into an agreement with an international finance company, Sure Capital to provide structured financing in the sum of US$180 million, conditional upon the completion of prerequisite documentation.
In May 2010, Empire signed a memorandum of understanding with Sure Capital at their offices in Hamilton, Bermuda to initiate the process for providing structured financing to Empire in the form of $45 million per annum over a four year period to support the Company's license applications and the resumption of its drilling operations. Empire's financial and legal advisors have been working with Sure Capital management, which has culminated in today's signed agreement. The terms of the Agreement are based on the USD$3.3 billion estimated value of the license area that Empire and GSLM have asserted legal claim to. Australian accountancy firm WHK Denison provided this industry valuation based on the work of international independent competent persons firm RPS Energy. This industry valuation has been included in Empire's recently amended Form S1 Registration Statement which was allowed to become effective by the US Securities and Exchange Commission (SEC) on June 21, 2010.
Empire and GSLM CEO, Malcolm Bendall said, "the Rights Offering will conclude on the 30th of July 2010 and I confirm my intention to take up any outstanding shares that remain unsubscribed. This additional capital supports the 12,000 square kilometer license area applied for under SEL 13/2009, the restoration of the full area of SEL 13/1998 and recommencement of the Company's 12 hole drilling program. The Company intends to commence drilling at the Bellevue and Thunderbolt sites and also intends to drill the structures valued by RPS Energy at over one billion US dollars that were not included in the license area granted by Mineral Resources Tasmania. These additional structures will now be the subject of an appeal by GSLM to the government. The agreement entered into today with Sure Capital, provides sufficient finance to drill all 12 structures. I remain focused on working with the Sure Capital team to complete the remaining documentation and ensure it is completed promptly."
It is the intention of Empire and GSLM that once financing has been successfully completed and monies have been disbursed, it will advance its early stage discussions to enter into 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 today advised GEFCO in the USA of confirmation of the conditional order contract and requested preparation for the coordination and shipment of the SpeedStar 1100 drill rig to Australia. Once the purchase contract is finalized, the rig will be shipped to Australia within 6 weeks.
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.
A technical report covering SEL 13/1998, is available on the Empire Energy web site at: Final Report of Special Exploration Licence (SEL) 13/1998
Source: Empire Energy
Little know facts about drill rigs in Australia:
Almost all the rigs are able to drill to a depth of 10,000 feet or less and with this new mobil drill rig that can drill to a depth of 15,000 feet creates a big demand for such a rig and we can joint venture it to other sites at a healthy cut of the profits.
We are headed to be a major oil exploration company. Soon we will loose the term junior mining company. We are headed to the big time.
Recap of events:
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
Friday, July 2, 2010
• EMPIRE ENERGY CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Other Events, Financial Statements
Thursday, June 24,2010
• Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
WOW! That's a biggie. There are other big oil companies that it could be also. But Exxon is a good choice. Maybe or maybe not we will have to wait and see.
The true credit for the success belongs to Malcolm Bendall, the Directors and the Staff of EEGC/GSLM. They turned hard work into results. The height of the results will begin when we strike oil. But there is more. Its not just oil any more. We have huge potential in FLARE GAS TECHNOLOGY. If you ever passed an oil tower and noticed flames coming out of the top the operators burn off excessive gas and now all that wasted energy is captured and sold. Its a lot of money in that waste gas now recaptured and sold at a profit. It also reduces pollution, No burning = no pollution + make money at the same time. That's a WIN, WIN, WIN situation. Its always nice to breath clean air. Its not the cure all for pollution but every little bit helps.
Don't worry about the 9, $20 million bonds, they were sold before they were constructed. Its the vehicle they used for the loan. Same way if you went to a bank and asked for a loan. They provide the paper work and once completed they deliver you a check. Same thing. This is a company with Arab money in place and the bonds are used to establish the loan. Next thing I want to see a PR with information on who the Gulf Coast oil company is. When you see who it is if rumors are correct it will knock your socks off. This is the big time folks we are about to become a senior oil exploration rather then a junior. Wait and see. There are many great surprises ahead of us. Its a bit too soon to count our money but I am ready. The future has an upgrade coming on the trading platform. The only thing missing from the PRs is Ice Cream and chocolate cake, but the PRs are enough desert. Desert will come with after dinner drinks when we hit our first well.
No you can't use your numbers because the profit margin is staggering high. There is almost no expense to us. We will only need minimum overhead for marketing people and office space. The actually implementing of the technology is the burden of the user. We get a license fee and annual use fees with a hugh profit. I don't know the numbers but they are very high.
Here is a staggering number to absorb:
Flare gas tech will generate $2.6 Billion per year in revenue divided by 412 million shares = $6.31 a share with nothing else.
Does anyone know or has heard the term Price Earnings Ratio, (PER)?
It is a boost to the valuation usually by industry. Conservative is a 10 to 1. Thats just a wild guess. What I am trying to show here is a lot of value exists in this company and it is just beginning to unfold.
As fare as shorts covering goes that's just a short term spike, the real value will be found when all the possibilities are developed. Somewhere in the future this company is going to be worth a lot of money and if you can stash your stock away you will become part of the rich element that frequents expensive shops and eateries and take long vacations.
You are entitled even if you bought today.
Another PR due next week big stuff in the works.
EEGC: WOW!
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, 2010 /PRNewswire via COMTEX/ -- Empire Energy Corporation International (Empire) (Pink Sheets: EEGC) 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
Surprise! there is more news coming next week!
EEGC WOW!
ULY 9, 2010 EEGC PR
http://www.otcmarkets.com/stock/EEGC/news
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, 2010 /PRNewswire via COMTEX/ -- Empire Energy Corporation International (Empire) (Pink Sheets: EEGC) 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
EEGC WOW!
ULY 9, 2010 EEGC PR
http://www.otcmarkets.com/stock/EEGC/news
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, 2010 /PRNewswire via COMTEX/ -- Empire Energy Corporation International (Empire) (Pink Sheets: EEGC) 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
I do know that they finished their reports for filing and we should be upgraded soon but I don't know exactly when.
New use for Windex
I haven't checked ' snopes.com ' to see if this actually works or not, b ut they say
If you ever get the sudden urge to run around naked,
You should sniff some Windex first.
It'll keep you from streaking....
When it comes to Empire Energy, (EEGC), failure is not an option. I have sprayed the perimeter with home defense spray to keep the bugs away but the rats hop over it and continue their plague on the company. Don't give it a second thought because after talking with all the people involved and knowing the future plans I say rest assure you picked a winner. I believe we will drill around Oct 1st and should strike a gusher within weeks after that. The administration has performed with honor and dedication to bring this company to the forefront of oil exploration. A gulf coast oil company will do the drilling and they are highly trained professionals with unbelievable experience. The oil is there for the taking and that's exactly what is going to happen. In the days ahead I suspect you will see PRs announcing what is going on. Read them carefully and judge for yourself who you should trust. The company or the people with an agenda. Relax we are well on the way to a fat return on our investment.
Where did all the sticky posts go on EEGC? I deleted them! Lets see what Thursday and/or Friday brings! Hang on to your hat!
REPLACEMENT WINDOWS
Last year I replaced all the windows in my house with that
expensive double-pane energy efficient kind, and today, I
got a call from the contractor who installed them. He was
complaining that the work had been completed a whole year
ago and I still hadn't paid for them.
Hellloooo,...........just because I'm blonde doesn't mean
that I am automatically stupid. So, I told him just what his
fast talking sales guy had told me last year, that in ONE
YEAR these windows would pay for themselves! Helllooooo?
It's been a year! I told him.
There was only silence at the other end of the line, so I
finally just hung up. He never called back. I bet he felt
like an idiot.
"Anybody actually read the Sure Capital website? Full of spelling and grammatical errors. Unbelievable actually."
HINT, BIG HINT, VERY BIG HINT!
They are NOT English speaking people!
Good morning. I am now handicapped and unable to type with just my left hand, but I had to tell you to be prepared for great wealth.
Sorry people but I had an accident this morning and just back from emergency room. More news this week. I have to leave to go back to hospital to remove glass pieces from my arm. C ya later. I hope.
EEGC going to new heights, come join the fun and make some money!
They just got $180,000,000 over the next 4 years to drill 12 wells!
An independent authority has stated that the value conservative of the oil resources in the ground at Bellevue and Thunderbolt is valued at $2,200,000,000. If you take the outstanding share count after the rights offering to be 412,000,000 and divided it into the $2,200,000,000 it places the share value without even drilling at $5.34 per share. We have no where to go but up from there.
EEGC going to new heights, come join the fun and make some money!
They just got $180,000,000 over the next 4 years to drill 12 wells!
An independent authority has stated that the value conservative of the oil resources in the ground at Bellevue and Thunderbolt is valued at $2,200,000,000. If you take the outstanding share count after the rights offering to be 412,000,000 and divided it into the $2,200,000,000 it places the share value without even drilling at $5.34 per share. We have no where to go but up from there.
[B]EEGC is going to the moon today, come join us and make some money!
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
prnewswire
Friday July 2, 2010, 8:00 am
LEAWOOD, Kan., July 2 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire) (Pink Sheets:EEGC.pk - News) with its wholly owned Australian subsidiary, Great South Land Minerals Limited (GSLM) announced on Wednesday, June 30, 2010 in Monaco that the Company entered into an agreement with an international finance company, Sure Capital (www.surecapital.org) to provide structured financing in the sum of USD$180 million, conditional upon the completion of prerequisite documentation.
In May 2010, Empire signed a memorandum of understanding with Sure Capital at their offices in Hamilton, Bermuda to initiate the process for providing structured financing to Empire in the form of $45 million per annum over a four year period to support the Company's license applications and the resumption of its drilling operations. Empire's financial and legal advisors have been working with Sure Capital management, which has culminated in today's signed agreement. The terms of the Agreement are based on the USD$3.3 billion estimated value of the license area that Empire and GSLM have asserted legal claim to. Australian accountancy firm WHK Denison provided this industry valuation based on the work of international independent competent persons firm RPS Energy. This industry valuation has been included in Empire's recently amended Form S1 Registration Statement which was allowed to become effective by the US Securities and Exchange Commission
(SEC) on June 21, 2010.
Empire and GSLM CEO, Malcolm Bendall said, "the Rights Offering will conclude on the 30th of July 2010 and I confirm my intention to take up any outstanding shares that remain unsubscribed. This additional capital supports the 12,000 square kilometer license area applied for under SEL 13/2009, the restoration of the full area of SEL 13/1998 and recommencement of the Company's 12 hole drilling program. The Company intends to commence drilling at the Bellevue and Thunderbolt sites and also intends to drill the structures valued by RPS Energy at over one billion US dollars that were not included in the license area granted by Mineral Resources Tasmania. These additional structures will now be the subject of an appeal by GSLM to the government. The agreement entered into today with Sure Capital, provides sufficient finance to drill all 12 structures. I remain focused on working with the Sure Capital team to complete the remaining documentation and ensure it is completed promptly."
It is the intention of Empire and GSLM that once financing has been successfully completed and monies have been disbursed, it will advance its early stage discussions to enter into 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 today advised GEFCO in the USA of confirmation of the conditional order contract and requested preparation for the coordination and shipment of the SpeedStar 1100 drill rig to Australia. Once the purchase contract is finalized, the rig will be shipped to Australia within 6 weeks.
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
EEGC , TODAY IS THE DAY!
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
prnewswire
Friday July 2, 2010, 8:00 am
LEAWOOD, Kan., July 2 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire) (Pink Sheets:EEGC.pk - News) with its wholly owned Australian subsidiary, Great South Land Minerals Limited (GSLM) announced on Wednesday, June 30, 2010 in Monaco that the Company entered into an agreement with an international finance company, Sure Capital (www.surecapital.org) to provide structured financing in the sum of USD$180 million, conditional upon the completion of prerequisite documentation.
In May 2010, Empire signed a memorandum of understanding with Sure Capital at their offices in Hamilton, Bermuda to initiate the process for providing structured financing to Empire in the form of $45 million per annum over a four year period to support the Company's license applications and the resumption of its drilling operations. Empire's financial and legal advisors have been working with Sure Capital management, which has culminated in today's signed agreement. The terms of the Agreement are based on the USD$3.3 billion estimated value of the license area that Empire and GSLM have asserted legal claim to. Australian accountancy firm WHK Denison provided this industry valuation based on the work of international independent competent persons firm RPS Energy. This industry valuation has been included in Empire's recently amended Form S1 Registration Statement which was allowed to become effective by the US Securities and Exchange Commission
(SEC) on June 21, 2010.
Empire and GSLM CEO, Malcolm Bendall said, "the Rights Offering will conclude on the 30th of July 2010 and I confirm my intention to take up any outstanding shares that remain unsubscribed. This additional capital supports the 12,000 square kilometer license area applied for under SEL 13/2009, the restoration of the full area of SEL 13/1998 and recommencement of the Company's 12 hole drilling program. The Company intends to commence drilling at the Bellevue and Thunderbolt sites and also intends to drill the structures valued by RPS Energy at over one billion US dollars that were not included in the license area granted by Mineral Resources Tasmania. These additional structures will now be the subject of an appeal by GSLM to the government. The agreement entered into today with Sure Capital, provides sufficient finance to drill all 12 structures. I remain focused on working with the Sure Capital team to complete the remaining documentation and ensure it is completed promptly."
It is the intention of Empire and GSLM that once financing has been successfully completed and monies have been disbursed, it will advance its early stage discussions to enter into 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 today advised GEFCO in the USA of confirmation of the conditional order contract and requested preparation for the coordination and shipment of the SpeedStar 1100 drill rig to Australia. Once the purchase contract is finalized, the rig will be shipped to Australia within 6 weeks.
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