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In addition the company is in possession of the lease.
Its not important to me to be first just that everybody gets the news.
Good stuff in the works
EEGC for me again
News!!!! MRT website posts lease granted
Licence Details
The details of the Licence
Tenement Ref. EL14/2009
Holder Great South Land Minerals Limited.,
3/65 Murray Street, Hobart, TAS, AUS, 7000
Operator Great South Land Minerals Limited.,
3/65 Murray Street, Hobart, TAS, AUS, 7000
Reports
Status Granted
Final Date 16/05/2012
Product Category Category 4 - Petroleum Products
Current Area 3108 sq km/blocks
Land Tenure Admin Excluded, Authority Land, CLAC, Commonwealth Land, Conservation Area, Crown Land, Forest Reserve, Fossicking Area, Gas Pipeline, HEC Land, High Quality Wilderness, Historic Site, Informal Reserve, National Estate, National Park, Nature Reserve, Private Informal Reserve, Private Parcel, Private Reserve, Public Reserve, Ramsar Wetlands, State Forest, State Reserve, Vegetation By Prescription, Wellington Park, World Heritage Area
Locality Central Tasmania
MRT WEBSITE STATUS IS NOW GRANTED;
Licence Details
The details of the Licence
Tenement Ref. EL14/2009
Holder Great South Land Minerals Limited.,
3/65 Murray Street, Hobart, TAS, AUS, 7000
Operator Great South Land Minerals Limited.,
3/65 Murray Street, Hobart, TAS, AUS, 7000
Reports
Status Granted
Final Date 16/05/2012
Product Category Category 4 - Petroleum Products
Current Area 3108 sq km/blocks
Land Tenure Admin Excluded, Authority Land, CLAC, Commonwealth Land, Conservation Area, Crown Land, Forest Reserve, Fossicking Area, Gas Pipeline, HEC Land, High Quality Wilderness, Historic Site, Informal Reserve, National Estate, National Park, Nature Reserve, Private Informal Reserve, Private Parcel, Private Reserve, Public Reserve, Ramsar Wetlands, State Forest, State Reserve, Vegetation By Prescription, Wellington Park, World Heritage Area
Locality Central Tasmania
The process has begun toward that goal.
Thanks for the show of support. The real action is taking place in Hobart and hopefully we will get clued in sometime next week in the form of a PR. Lets hope so as it will erase many doubts.
The $50 million question is not the question to ask and that's unfortunate because it opens up a hornets nest of nasty things that have occurred and I have been doing my best to avoid addressing. The reason I have not talked about things that occurred in the past is because there are on going legal ramification involved so I can't go into detail on this board but old timers that have been following the companies history will know what I am talking about.
Malcolm Bendall is the CEO of EEGC but that has not always been the case. A person by the name of Michael Roberts was running the show prior to Malcolm taking back control.
Yes we should have drilled prior to this time and we had the equipment to do it. A brand new rig purchased from the same manufacturer as the new one we ordered. Without me going into detail of why Roberts sold our new rig that would have already drilled many wells and why he was fired for his illegal transaction and why we are getting the rig returned is not up to me to divulge. In time if the company deems it in their best interest they will address the matter.
Most of you posting about why we didn't drill after spending so much money just don't have a clue so I suggest you move forward and see what the future brings.
Malcolm has returned us to an operating company from near disaster and in the process and great personal cost to both Malcolm and his family is moving ahead in an attempt to bring an oil strike.
I suggest you do some research before you post on such matters because with out such research you do everybody an injustice including yourself.
You do not have to be heard if you don't know what the hell you are talking about.
Now lets get this show on the road.
Tasmania is a State within the Australian community. It is very sensitive to disruption of the environment and you can't do anything without permits.
Its a possible reason why most oil companies steer clear of Tasmania. The government agency responsible for granting permits has a Director of mines and his dept is responsible for doing all the leg work for approval by the Minister of Mining. Within the mining group there are different areas, such as minerals, gold, silver, zinc, copper, etc and category 4 Petroleum products where we are concerned. This ain't Texas where anything goes.
There was no drilling in Tasmania because the area was explored first this is how it was set up by the government of Tasmania. Production does require a separate license. I don't know what country you are basing your opinion on and each country is different as to rules and regulations.
Don't for one minute think the Government doesn't want EEGC to strike oil. They are totally behind Malcolm and EEGC to find oil. It does two things for the Government.
1- Provides 12% of the revenue to the government and they need those funds.
2- Provides increased security to the country by providing fuel to support their Armed forces and that of their allies without the need to depend on foreign supplies.
The government wants results as do we all and Malcolm and the government are committed to reach that goal.
You say,"10+ years of failure to bring any oil by Malcolm."
They were no drilling for oil till the very last before the lease expired, they were exploring and not drilling.The lease was for exploration and not for production. To produce they had to convert the lease. Sorry but that's just a little know fact.
You say,"Seems the Rights Offering was a failure too now."
I guess you are able to read tea leafs because the results have not as yet been published.
You say, "Malcolm has never had a business success" Every venture Malcolm has been in has returned him a profit and EEGC is still in progress to do just that.
And I say, "This company, Empire Energy Corporation International, will make me more money then my wildest dreams could have predicted."JMO
.
That's your opinion and its nice to know Malcolms position won't be affected by your opinion. Its also nice to know that he will bring us oil in the near future and make us all very rich. JMO
GSLM a wholy owned sub of EEGC website was discontinued months ago. No need for two websites. The EEGC website is being worked on and will be back on line in a couple of days
As we progress the risk is less. The lease is granted and the process to drill is moving forward. Along with the process moving ahead frustration grows because news is at a minimum but look at the tunnel and the light glowing brighter as we move forward. A two year lease means we can't screw around. We must provide results or lose everything. Who has the most to lose?
MALCOLM BENDALL! You can bet everything you have invested in that he wants and is doing everything in his power to make the program work. Don't vent your frustrations on this board because all you do is frustrate others and that's counter productive. So what should you do? NOTHING! Wait for news when ever it comes.
The website is being updated and will take a little time before it is back. Patience as always is required. Rome wasn't built in a day or so I am told since I am old but wasn't there.
some people are having problems accessing the website lets wait and see whats going on
Its a question of utilizing your funds to the best advantage. Cut cost where possible and spen in the area of the most return and results.
When you are in the CEO seat you can do it your way. Malcolm can not be that transparent. If he were nothing would get done. Hand holding is not in his job description. His job is to get us oil. There are many hurdles to get over to get us to that point. One big task is he has to pay his employees. They are not permitted to work for free by law they must be paid.
Nobody knows the burn factor but these people don't come cheap. We now have all the ingredients to make this happen. It will still take some time before the drill starts to turn. Its frustrating to wait but that's what you have to do.
It does matter. It costs about $100,000 for each qtr and annual filing. That money is needed to drill. Once we strike oil they will have enough resources to go to a proper higher level board that reflects the company in a better light.
The lease says we must perform to the specs outlined in the qualifications in the next 2 years. That means we are dedicated to drilling wells, and as many as needed to bring up oil.
The OTCBB listing will have very little use if we fail to strike oil. The resources we now have will be used to drill.
It involves Banks, bonds and all naked shorting according to what I heard
The PK or BB designation has nothing to do with shorting. In the US a retail trader can't short penny stocks only institutions. Outside the U.S. anything goes till you get caught. germany just stopped it.
All of the good things that follow a successful company will come to us when we strike oil/gas. OIL is the answer to all of our dreams.
OTCBB is the Over the counter Bulletin Board a service that requires filing annual and quarterly reports and has closer regulation, The Pink Sheets, designated by PK, is for the most part unregulated and does not require Qtr and annual reporting. The Pink Sheet system was set up by the SEC to allow a start up company to grow while keeping the cost of filing reports at a minimum. That way that do not divert their start up earnings into costs that won't bring them an immediate return.
Special circumstances do require giving notice.
Both systems suck. The better quality trading systems such as the NASDAQ, American Exchange and New York Stock Exchange are closely monitored and require certain requirements to be a member. There are fees to be paid for these services and reporting varies by exchange. The higher the exchange it is thought to have less risk, but there are failures on all exchanges.
I concern myself with the company I invest in and not so much the exchange they trade on. It follows the more successful a company is the better exchange they want to be on because the more exposure they get to the financial markets. Start up companies with little or no revenue are usually Pink sheet companies and as they grow they migrate upwards to a better exchange. The company should be able to grow and generate revenue and continue to increase that revenue. The company will grow if they have a product or service that is in demand and it has good management to steer it.
Empire is now trading as EEGC.PK off the BB and is a pink sheets stock.
According to my information there are 2 rigs and the new rig is to be delivered to Tasmania but that will take some time considering it has to be transported to the U.S. Coast and loaded on a ship, then unloaded, quarantine, sent to site, inspections, etc.
While this is going on the old rig in Australia can be moved in less then half the time as the new rig.
We have a 2 year lease to perform and more then enough time to bring home a gusher.
I would guess sometime this week or next week we should see the share count increase and that means the money is in our account ready to disperse.
Time is getting shorter and results are close at hand. The next few weeks I believe we should be hearing news about our progress.
"Germany To Ban Naked Short-Selling From Midnight"
All that means is that you have to wear cloths when you short stock.
The idea is to stop viewing deformed naked bodies by making them wear cloths.
The stock market in Germany will, however, continue to screw people.
We are still a ways aways for the stock to run but we are setting up for that to happen.
A lot is going on as we speak.
Now that Empire received the lease I believe you will see people banging on our door trying to get a piece of the action. Prior to the lease there was interest but no action. That is changing now.
In addition Malcolm has the patent of a solution to the oil spill in the Gulf. BP has assembled oil executives and oil engineers from all over the world to seek a solution to the oil spill. Having the solution to the problem and given the opportunity to use it are two different things, however. If Malcolm has his way he will be pure gold in the eyes of the world.
The gag has to do with the rights offering and the count going on. Its temporary and the dilution is because of the 1 for 2 additional issue of stock per the Rights offering and nothing more. This was planned and public knowledge.
There are many statements in the past and will continue to be in the future that need clarity but they are what they are. All these PRs are first run by Legal before releases. Its a cover your ass process the same as is the disclaimer. If you are confused, join the crowd. You will not get an answer to questions of this type. If they come out with an ambiguous statement it has a purpose.
Thanks to Malcolm for the fine job he is doing. All you hind sight quarterbacks that plan on solving the worlds problems and criticize every thing the company does, like why doesn't he do this or why did he do that.
Who knows and who cares. Its his job let him do it with out comment. How would you like it if someone was looking over you shoulder and comment on everything you do.
He is the Chief Executive Officer of Empire Energy and none of you are. If you don't like what hes doing! TOUGH! When you become the CEO you can do things your way till then butt out!
Malcolm has information at his finger tips not available to any of you and its as it should be. You may say you are an owner of the company and that entitles you to? Bull shit! All it entitles you to do is share in the profits or loses and go to annual meetings where there you can open your mouth and ask dumb questions. Any one of you are not the only owner of the company, there are over 1,000 of them and most own more share too.
Malcolm Bendall has moved us forward against sometimes impossible odds and has come through smelling like a rose.
There has been no news about the old rig as of late. However the last I heard we are getting it back. Yes it is the rig that was illegally sold.
If you go back and examine the principles of a successful company you will find it has to have a product or service that generates revenue. We do not have that as yet. We do have the potential for that in my opinion but it will take time and that's why this is and always was a long term hold and is a gamble. We have to date not produced a drop of oil or gas. All the money we have gotten has been burned keeping this operation afloat. The tide is starting to change and we are getting closer to our goal of producing oil/gas for resale. Once we have produced any hydrocarbons we will attract investor interest and joint venture interest as well. The price of the stock in the pennies means nothing and has zip for value. One day the PPS is 20 cents and 4 months later its 2 cents. If you are in this stock to trade for pennies good luck and you will need a crystal ball for timing.
There will less frustration if you can resign yourself to a 5 or a 10 year hold and stop following the price changes on a day by day, minute by minute.
The goal I set for this stock was that my kids would have the task of selling because I'll likely be dead. I am here because I'm am old and need a hobby. Its something for me to do, besides grow tomatoes. Its the action that captures my attention not the price of the stock. The market of today is so crooked and has so many people looking to force you to do something stupid so they can make money on your mistake. There is no advise anyone can give anyone on how to trade because every situation is different. The goals and reason to invest in any stock can also change with time and requirements. Good luck.
Yes I agree and thats good information to have if you are a day trader or looking to flip. Thats where "Buy on the rumor and sell on the news" comes from. If you are a long term holder looking for the potential big return that method of trading won't help you. More often then not timing is an impossible thorn in the side of that system. You never know what the next thing or the timing will play and you could end up chasing it. The best way to get around it is to take some profits when available and average down when the opportunity presents itself. In any case we are setting up nicely and we should be getting more good news as we move forward. Good luck to all the investors you all deserve it.
EEGC fantastic news!
Minister Grants Petroleum Exploration License EL14/2009
Contract for new GEFCO drilling rig signed by Empire.
Empire offers assistance in Gulf oil spill disaster.
prnewswire
Its only just begun!
Malcolm is in Houston where there is a large gathering of oil executives and what a perfect place to pitch the flare gas technology and sign up some joint ventures. I would expect future PRs to address this subject.
EEGC Huge news!
Minister Grants Petroleum Exploration License EL14/2009
Contract for new GEFCO drilling rig signed by Empire.
Empire offers assistance in Gulf oil spill disaster.
prnewswire
Press Release Source: Empire Energy Corporation International On Monday May 17, 2010, 10:41 am
LEAWOOD, Kan., May 17 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire) (OTC Bulletin Board:EEGCE.ob - News) with its wholly owned subsidiary, Great South Land Minerals Ltd. (GSLM) announced on 17th May 2010 that the Honorable Bryan Green, Minister for Energy and Resources has today signed the documents for its Tasmania Basin exploration license EL14/2009, which means the license is now granted and in full effect.
Empire and GSLM CEO Malcolm Bendall said, "This is excellent news for Empire. We want to thank the Minister for signing the exploration license to allow us to continue our exploration and development work. We look forward to working with the Minister to create the petroleum industry in Tasmania. To further this exploration work, Empire has signed a conditional contract with GEFCO Inc. of Enid, Oklahoma (http://www.gefco.com/drillingrigs.htm) for a state-of-the-art, truck mounted, GEFCO SS-1100 drilling rig, with a capability to drill both vertically and horizontally to 15,000 feet (4572m). A GEFCO 185 rig, previously bought by Empire for $1.3 million, shipped to Tasmania and converted to Australian specifications, has since successfully drilled a well to 7874 feet (2400m) and a total of 28 miles (45km) of drill holes, on mainland Australia. Empire is now poised to drill our two main domes at Bellevue and Thunderbolt, which independent consultants have estimated could contain 447 million barrels of oil. This undiscovered prospective resource has been valued at $2.2 billion dollars by independent experts who assumed a value discounted to $5 a barrel." Mr. Bendall continued, "At today's oil price of $70 per barrel this would potentially be a gross in-ground value of $31 billion."
GEFCO Inc. Vice President of international sales Art Kliewer said, "We are delighted with Empire's conditional contract for purchase of a second GEFCO rig and we wish Empire and GSLM every success with their Tasmania Basin drilling program."
Mr. Bendall is currently in Houston, Texas where he is in discussions concerning the deployment of proprietary technologies that Empire has access to, relevant to stopping and cleaning-up subsea oil leakages. Whilst in Houston, Mr. Bendall will be furthering discussions with interested equity investors and potential joint venture partners. Mr. Bendall said, "We have been working diligently towards completing Empire's and GSLM's audited accounts and the company and its officers and its contractors will be striving to file the 10K soon. We are now in a powerful commercial position as the company now has a both a license and an independent valuation."
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
Minister Grants Petroleum Exploration License EL14/2009
Contract for new GEFCO drilling rig signed by Empire.
Empire offers assistance in Gulf oil spill disaster.
prnewswire
Press Release Source: Empire Energy Corporation International On Monday May 17, 2010, 10:41 am
LEAWOOD, Kan., May 17 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire) (OTC Bulletin Board:EEGCE.ob - News) with its wholly owned subsidiary, Great South Land Minerals Ltd. (GSLM) announced on 17th May 2010 that the Honorable Bryan Green, Minister for Energy and Resources has today signed the documents for its Tasmania Basin exploration license EL14/2009, which means the license is now granted and in full effect.
Empire and GSLM CEO Malcolm Bendall said, "This is excellent news for Empire. We want to thank the Minister for signing the exploration license to allow us to continue our exploration and development work. We look forward to working with the Minister to create the petroleum industry in Tasmania. To further this exploration work, Empire has signed a conditional contract with GEFCO Inc. of Enid, Oklahoma (http://www.gefco.com/drillingrigs.htm) for a state-of-the-art, truck mounted, GEFCO SS-1100 drilling rig, with a capability to drill both vertically and horizontally to 15,000 feet (4572m). A GEFCO 185 rig, previously bought by Empire for $1.3 million, shipped to Tasmania and converted to Australian specifications, has since successfully drilled a well to 7874 feet (2400m) and a total of 28 miles (45km) of drill holes, on mainland Australia. Empire is now poised to drill our two main domes at Bellevue and Thunderbolt, which independent consultants have estimated could contain 447 million barrels of oil. This undiscovered prospective resource has been valued at $2.2 billion dollars by independent experts who assumed a value discounted to $5 a barrel." Mr. Bendall continued, "At today's oil price of $70 per barrel this would potentially be a gross in-ground value of $31 billion."
GEFCO Inc. Vice President of international sales Art Kliewer said, "We are delighted with Empire's conditional contract for purchase of a second GEFCO rig and we wish Empire and GSLM every success with their Tasmania Basin drilling program."
Mr. Bendall is currently in Houston, Texas where he is in discussions concerning the deployment of proprietary technologies that Empire has access to, relevant to stopping and cleaning-up subsea oil leakages. Whilst in Houston, Mr. Bendall will be furthering discussions with interested equity investors and potential joint venture partners. Mr. Bendall said, "We have been working diligently towards completing Empire's and GSLM's audited accounts and the company and its officers and its contractors will be striving to file the 10K soon. We are now in a powerful commercial position as the company now has a both a license and an independent valuation."
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
The talk about doing away with the pink sheets and the OTCBB has been going on for a while and the Europeans have always hated it. It looks like a new form of reporting will be in place in the futures based upon electronic trading. There are many advantages to this as it takes the trading out of the Market Maker and matches are completed by electronic means which will be a standard world wide. It all sounds good but its a wait and see what develops.
I know that the company has had people working on the upgrading of EEGCE with the removal of the E. I trust them to do the job. No sense getting your panties in a knot till the results are apparent.
I am not in the least bit concerned.
If you want to concern yourself think about poor Nyomi.
Who is Nyomi you inquire!
Nyomi has the secret of the Atomic bomb tattooed under her tongue and she is shrinking and getting smaller and smaller. We could lose the technology to blow ourselves up. My God whats this world coming to. No more mass destruction, I won't stand for it I tell you.