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EEGC is going up big time today!
Over the next 4 years EEGC/GSLM will receive $180,000,000 at a rate of $45,000,000 per year. That should immediately increase the value of our shares by $.44, added to the $5.34 in the ground value of the oil the bare bones value of $5.78 a share becomes the minimum value of each share of stock.
Next step is establishing the value of the shares when he strike and deliver oil and gas.
For each (1), one billion barrels of oil we pump the share price is worth $121.36 per share. ($50 net profit per barrel x 1 billion = $50 billion divided by 412 million shares = $121.36)
Then multiply the $121.36 x each additional billion barrels of oil.
SO! For every 1,000 shares you own the value is $121,359.22 for each billion barrels of oil. That is U.S. dollars.
If we discover 9 billions barrels each 1,000 shares is worth over $1,000,000 U.S. dollars.
Anyone reading this want to take a chance and invest just $35 for a shot of a very possible dream come true?
Go for it! $35 is a dinner for one person. Skip a meal
its better for you anyway.
EEGC: (Empire Energy International)
I expect a big run in stock price
The past news is excellent and more to come hopefully this week. More people are hearing about EEGC and The message boards are humming about Empire and the $180,000,000 funding. I expect a nice run tomorrow and for the next few days. The price closed at $.035 and has a long distance to travel. Its a steel under 5 cents and even a flipper can make big money under these conditions. Join the crowd.
Good hunting!
EEGC (Empire Energy International)
I expect a big run in stock price
The past news is excellent and more to come hopefully this week. More people are hearing about EEGC and The message boards are humming about Empire and the $180,000,000 funding. I expect a nice run tomorrow and for the next few days. The price closed at $.035 and has a long distance to travel. Its a steel under 5 cents and even a flipper can make big money under these conditions. Join the crowd.
Good hunting!
The outstanding shares will be approx 412,000,000 + or - a few thousand shares. The terms will be released at a later date and they are very favorable. Smile! Its all good! The reward for patience is upon us!
So what does the future have instore for us?
A LOT OF MONEY!
EEGC
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
prnewswire
Press Release Source: Empire Energy Corporation International On 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:
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
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
I expect another PR this week with exciting information!
Over the next 4 years EEGC/GSLM will receive $180,000,000 at a rate of $45,000,000 per year. That should immediately increase the value of our shares by $.44, added to the $5.34 in the ground value of the oil the bare bones value of $5.78 a share becomes the minimum value of each share of stock.
Next step is establishing the value of the shares when he strike and deliver oil and gas.
For each (1), one billion barrels of oil we pump the share price is worth $121.36 per share. ($50 net profit per barrel x 1 billion = $50 billion divided by 412 million shares = $121.36)
Then multiply the $121.36 x each additional billion barrels of oil.
SO! For every 1,000 shares you own the value is $121,359.22 for each billion barrels of oil. That is U.S. dollars.
If we discover 9 billions barrels each 1,000 shares is worth over $1,000,000 U.S. dollars.
Anyone reading this want to take a chance and invest just $35 for a shot of a very possible dream come true?
Go for it! $35 is a dinner for one person. Skip a meal its better for you anyway.
Pure fiction. An independent company has signed off on $2.2 billion in oil and that puts a value of $5.34 a share with the oil still in the ground. If you believe what Z says then he has accomplished his hate campaign and you deserve what you get. Enough said. Tomorrow i expect this stock to rise.
Stay tuned in the days and weeks ahead for more dramatic news releases that will confirm my expectations of the things to come.
A company with experience and expertise in drilling will take over the actual work. While all this is going on Malcolm will be doing other great things to enhance the value of the company. I would suggest to all of you skeptical posters just sit and wait for thing to develop before voicing an uninformed opinion.
I can't vouch for other peoples opinion but based on the company and their accomplishments, which is what counts I see a blinding bright future. People harp on the past but they don't realize that Malcolm and his dedicated staff have laid the ground work for an exception almost unbelievable return on investment. There were a lot of obstacles to overcome but they did it. Now we are on a rocket course to great wealth potential.
EEGC
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
prnewswire
o Empire Energy Corporation International
Friday July 2, 2010, 8:00 am
EEGC
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
prnewswire
o Empire Energy Corporation International
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 for me thanks
EEGC:
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
"LOGIC" a word very few people understand.
Here is some that applies to Empire Energy:
If the CEO, Malcolm Bendall and the Directors are all buying up the shares at $.07 a share and you can buy them for $.035 a share don't you think its a worthwhile purchase. They have to know whats going on even though you don't. I trust they are not pissing away their money for no reason. I suspect, its just a hint, that they expect to get a big fat return on their investment.
That is inside information, when the insiders are buying and you too can cash in on that information legally.
"LOGIC" a word very few people understand.
Here is some that applies to Empire Energy:
If the CEO, Malcolm Bendall and the Directors are all buying up the shares at $.07 a share and you can buy them for $.035 a share don't you think its a worthwhile purchase. They have to know whats going on even though you don't. I trust they are not pissing away their money for no reason. I suspect, its just a hint, that they expect to get a big fat return on their investment.
That is inside information, when the insiders are buying and you too can cash in on that information legally.
By God I think I've got it. I found the secret of potential great wealth. BUY THE HELL OUT OF EEGC AND GET ALL YOU CAN AFFORD!
Lets see if I bought a share at 3 cents and it has a value of $5.34 and no place to go but up, what kind of an idiot or retard would I have to be to sell now.
Well lets see. Down side risk 3 cents, upside maybe hundreds and possibly thousands depending on how long I can hold on before greed takes over. Hmmm thats a tough one to call! NOT!
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.
The total outstanding shares after the completion of the rights offering converted to barrels of oil per share:
2 billion barrels = 4.85 barrels per share
3 = 7.28
4 = 9.71
5 = 12.14
10 = 24.27
15 = 36.41
20 = 48.54
*****************************************************************
Using a $50 per barrel net profit multiply by the amt of barrels to find price per share, example: 4.85 barrels per share x $50 = $242.50
EEGC is the place to be both now and the future. Oil is the investment of the future. You can't fly a plane on electric or run long hall trucks on electric. With the economy being in the dumps I saw a hooker wearing a sign saying you don't have to pay till July 2011.
When ever an EEGC Press Release comes out it generates many questions, Just keep in mind that there were answers before the PR was posted. You just have not had access to them, but they will arrive...patience...all is well... Start counting your potential money.
Very strong possibility of a short run as the price of the stock rises the people that shorted the stock will be racing to cover. When that happens a buying spree takes over and the stock keeps rising. Where does it stop nobody knows. There will be people trying to soft talk the covering. They do this to protect themselves from getting wiped out. Its fun to watch as they go down in flames our wealth increases. Its entertainment at its best.
Good morning: This is a holiday weekend and the market is closed on Monday. Keep an eye open for another PR mid to end of next week. There is a lot more news to release, so stay tuned and have a happy 4th of July.
All those conservative oil reserve numbers that have been posted are pure nonsense and those numbers were used to appease MRT. The real numbers are yet to be determined. When EEGC did the seismic research they used 2D research. Length x Width, today they use 3D, Length x width x depth which will give you a volume indication. For us now we need to drill a well and drop measuring equipment dow the hole to determine volume. I am betting on what I heard that we have a reserve of more then 30 billion barrels of oil, and as much as 100 billion barrels. We won't know till we measure it. What ever it turns out to be its a bunch of money.
If you assume it will take 6 weeks to get the new rig to Australia and 2 weeks in quarantine then it has to be transported to the site another week so about 2 months + or - to drill once financing is in place and approved. But what people fail to realize is that drilling could start earlier with either the hunt rig or the previously sold rig a lot faster. Its possible to be drilling in September weather permitting. Remember this is when we are leaving winter and going into spring and at a 4000' elevation winter hangs around a little longer. My best guess is late September to Oct 1.
The financing is in place and the operational contract is in place so its go for the oil. There is a lot to be done prior to drilling and thats already in motion. People I suggest you don't guess at whats is going to take place. just sit back and watch the results.
All the so called experts have been totally WRONG on every count.
Why second guess whats going to happen. Just sit back and watch what develops. Its all good and the future is very bright.
I think you nailed it.
I expected to start drilling Oct 1 and now its possible to drill Beginning Sept.
This should sit well with the Tasmanian government as well because they need the revenue.
We will see a big boost in share price on Tuesday after the long holiday weekend and people have time to absorb the PR. This is dynamite and everything will now accelerate. This is the time to buy and stash the stock araw to pay for all your dreams. Thats my opinion and I'm sticking to it.
With this stock you could pay for college for your kids, Pay for their wedding, Buy them a new home to start a family with. Boats and expensive cars are no longer a dream. It can all come true if you just have the patience.
As a long term investor this is my opinion and it should be yours also.
Coming events:
OTC BB Board
Reinstatement of domes from lease
Refilling and receiving License to explore offshore to be followed by drilling.
AND THE BEST OF ALL!
Striking oil and gas!
- Current report filing (8-K)
Date : 07/02/2010 @ 11:15AM
Source : Edgar (US Regulatory)
Stock : Empire Energy Corporation
International Common Stock (EEGC)
Quote : 0.032 0.0095 (42.22%) @ 10:45AM
- Current report filing (8-K)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Earliest Event Reported: June 30, 2010
Empire Energy Corporation International
(Exact name of registrant as specified in its charter)
Nevada
1-10077
87-0401761
(State or other jurisdiction of
Incorporation)
(Commission file number)
(IRS employer identification no.)
4500 College Blvd, Suite 240
Leawood, Kansas 66211
(Address of principal executive offices, including zip code)
(913) 663-2310 begin_of_the_skype_highlighting (913) 663-2310 end_of_the_skype_highlighting
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
. Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
. Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
. Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 210.14d-2(b))
. Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry Into a Material Definitive Event
On June 30, 2010 Empire Energy Corporation International entered into an Asset Management Agreement with an international finance company, Sure Asset Management (www.surecapital.org) to provide structured financing in the sum of USD$180 million, conditional upon the completion of prerequisite documentation. The five year agreement provides 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. Additional funding conditions and repayment terms remain to be agreed. 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.
Item 8.01 Other Events
On July 1, 2010, we issued a press release, Empire Signs USD$180 million structured finance Agreement for 12 hole Drill program. The press release is attached as an exhibit.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No.
Description
10.1
Asset Management Agreement Between Empire Energy Corporation International And Sure Asset Management dated June 30, 2010
99.1
Press release July 1, 2010
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EMPIRE ENERGY CORPORATION INTERNATIONAL
Dated: July 1, 2010
By: /s/ Malcolm Bendall
Mr. Malcolm Bendall
Chief Executive Officer
I am hearing that NASA is restarting the space program, we are going to the Moon! The initials on the rocket is GSLM. Hmmmm!
We are going to the Moon!
ITS ONLY JUST BEGUN!
Get the shares while you can at this price its a steel!
Shorts better cover while you can, if you can!
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
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Chart for EMPIRE ENERGY CP ITL
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Press Release Source: Empire Energy Corporation International On 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
913-663-2310 begin_of_the_skype_highlighting 913-663-2310 end_of_the_skype_highlighting
There is no news and when the company releases news you will hear till then cool it.
The minute by minute details are obvious and you forgot about the inspection of the drill rig and the quarantine of the rig when it enters Tasmania. There is so much you don't know and I for one won't be the one to tell you. All of the details have been or will be addressed with zero difficulty. You are wasting your time and nothing you can possibly post will in any way influence the outcome of this project.
There is good reason to buy EEGC at $.022 and most people see the real potential and are loading up. There is also good reason for people to sell at $.02. The reason is they are STUPID!
the license has already been granted.
PONDERISMS
I used to eat a lot of natural foods until I learned that most people die of natural causes.
Gardening Rule: When weeding, the best way to make sure you are removing a weed and not a valuable plant is to pull on it. If it comes out of the ground easily, it is a valuable plant.
The easiest way to find something lost around the house is to buy a replacement.
Never take life seriously. Nobody gets out alive anyway.
There are two kinds of pedestrians: the quick and the dead.
Life is sexually transmitted.
Health is merely the slowest possible rate at which one can die.
The only difference between a rut and a grave is the depth.
Health nuts are going to feel stupid someday, lying in hospitals dying of nothing.
Have you noticed since everyone has a camcorder these days no one talks about seeing UFOs like they used to?
Whenever I feel blue, I start breathing again
All of us could take a lesson from the weather. It pays no attention to criticism.
In the 60's, people took acid to make the world weird. Now the world is weird and people take Prozac to make it normal.
How is it one careless match can start a forest fire, but it takes a whole box to start a campfire?
Who was the first person to look at a cow and say, "I think I'll squeeze these dangly things here, and drink whatever comes out?"
Why is there a light in the fridge and not in the freezer?
If Jimmy cracks corn and no one cares, why is there a song about him?
If quizzes are quizzical, what are tests?
Do illiterate people get the full effect of Alphabet Soup?
Did you ever notice that when you blow in a dog's face, he gets mad at you, but when you take him on a car ride, he sticks his head out the window?
Why doesn't glue stick to the inside of the bottle?
Do you ever wonder why you gave me your email address?
The new rig ordered is in compliance with the Australian code and the previous rig illegally sold was in compliance as it has already been used to drill in Australia. To even suggest that these rigs are not able to do the job is pure misinformation and leads me to believe you don't know anything about the qualified drill master in the employ of GSLM. They don't just pick a rig out of a calalog and order it. A lot of planning goes into these orders and all of the rules and regulations are closely monitored. That's enough misinformation.It would however, appear that the hunt rig was not equipped to do winter drilling and had to be modified.