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EEGC did NOT lose its OTCBB listing. The SEC added an extra E to the symbol because of the late filing. The filing has been submitted and published and we wait for the E to be dropped and the symbol to be returned to EEGC.
I am of the opinion a meeting will be arranged with the Minister next week and the license will be discussed. I think they are giving Mr. Green some time to get adjusted to his new position as Minister. The previous administration recommended approval of the scaled down version of the lease and the company wants it all back. I suspect that will be part of the talks.
Its unfortunate that the timing of the lease approval and the election took place at the same time. Mr. Green has a good reputation and is a fair man. I believe things will become evident shortly. Stay tuned for the results, my guess mid next week.
I was wrong about cash flow being booted. I can't find anything on Cash flow you can contact IHUB and ask them. I searched bothe PCSO and Relm and found nothing,
I can't swear to it but I seem to recollect he may have been booted by IHUB. I don't see any recent posts for cash flow
I have no idea what you are referring to. I am not sure I know what you are saying. Are you saying his posts were deleted?
You are under the impression the rights offering expired April 13. Not true. It doesn't expire till May 13th which is the 2nd part of the rights offering. I feel certain there will be a PR at the conclusion of the rights offering.
Wise Words
As we get older we sometimes begin to doubt our ability to "make a difference" in the world. It is at these times that our hopes are boosted by the remarkable achievements of other "seniors" who have found the courage to take on challenges that would make many of us wither. Harold Schlumberg is such a person:
QUOTE FROM HAROLD I've often been asked,'What do you old folks do now that you're retired?' Well...I'm fortunate to have a chemical engineering background and one of the things I enjoy most is converting beer, wine and whisky into urine. I do it every day and I really enjoy it.
Harold should be an inspiration to us all.
The posted income statement is as expected. No product to sell for revenue hence no income, burn rate to sustain operations will continue till income can be provided.
EEGC Income Statement
View: Annual Data | Quarterly Data All numbers in thousands
Period Ending Sep 30, 2009 Jun 30, 2009 Mar 31, 2009 Dec 31, 2008
Total Revenue - - - -
Cost of Revenue (25) 17 7 (1,083)
Gross Profit 25 (17) (7) 1,083
Operating Expenses
Research Development - - - -
Selling General and Administrative 689 886 916 1,031
Non Recurring 1,309 - - -
Others - - - -
Total Operating Expenses - - - -
Operating Income or Loss (697) (903) (923) 52
Income from Continuing Operations
Total Other Income/Expenses Net 1,078 (534) (400) 980
Earnings Before Interest And Taxes (895) (1,437) (1,324) 958
Interest Expense 119 181 257 869
Income Before Tax (1,014) (1,618) (1,581) 89
Income Tax Expense - - - -
Minority Interest - - - (73)
Net Income From Continuing Ops (1,014) (1,618) (1,581) 89
Non-recurring Events
Discontinued Operations - - - 869
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -
Net Income (1,014) (1,618) (1,581) 958
Preferred Stock And Other Adjustments - - - -
Net Income Applicable To Common Shares ($1,014) ($1,618) ($1,581) $958
There is a message in that. They can't answer your questions yet. Relax and wait is the message till they can answer questions. The company is waiting for the lease approval and they are also trying to get the balance of the rejected domes reinstated in the lease. There can be no news leaks from either Hobart or Kansas till the lease is complete. Like it or not you all have to be patient.
An interesting letter in an Australian magazine this week, which I quote, "If you consider that there has been an average of 160,000 troops in the Iraq theater of operations during the past 22 months and a total of 2,112 deaths, that gives a firearm death rate of 60 per 100,000 soldiers. The firearm death rate in Washington, DC is 80.6 per 100,000 for the same period. That means you’re about 25 percent more likely to be shot and killed in the U.S. capital, which has some of the strictest gun control laws in the U.S., than you are in Iraq."
Conclusion: The U.S. should pull out of Washington, DC.
The information I get is available to anyone willing to go find it. There is no inside information. Its just won't happen. The company people don't want to go to jail. You have to spend the effort and dig. Its your job and not mine. I am happy with my investment and you all should be also. If not consider the alternatives.
I don't know the patent number for the Flare Gas and I really don't care. Why would I. What possible benefit would I get from the knowledge. Malcolm says we have it and thats good enough for me. All I heard was that it was a world wide patent.
EEGC has not stopped trading just add an E to the end of EEGC and it becomes EEGCE. This will change back as soon as the filing is received by the SEC which is in progress now. It will take a few days to change bact to EEGC
Originally it was thought only 60% of the eligible shareholders would take advantage and Malcolm would take up the slack
People in the know have been buying up the shares at 4 cents and below and although it doesn't go to drilling it does put the shares in long term holder hands and gets rid of the shaky flippers. Even the hedge fund shares were bought up and taken off the market. We will have less share holders but stronger ones, and richer ones because they dollar averaged and the spread is greater. This is all predicated on striking oil of which I have no doubt we will.
Under the law they can not drill until they get a lease. However, that doesn't stop all of the support actions required to get to the drilling. Supplies are ready, hotel is ready, transportation is ready and the oil rigs themselves are doing what is necessary to move them to the sites.
Once the lease is delivered we will explode with activities.
The skinny out of Australia is the rights offering is a huge success. I await a PR to confirm this. I expect all this will be released as soon as the lease arrives.
2 oil drilling rigs one to drill Bellevue and one to drill Thunderbolt. The estimates on oil reserves I believe to be so conservative we will see quick changes in estimates. As much as 100 fold is possible and more. This may be one of the greatest oil discoveries in that part of the world.
Bellevue is the first target for a huge oil find. Don't forget many, many wells will be needed and we will have 2 rigs doing the job
There is a back log of Press Releases waiting to be published upon receipt of the license. All is way better then good.
Flare Gas is going to contribute huge earnings to the bottom line. I expect every major oil refinery will use EEGC technology. Its the best in the business.
Good morning. Another day or two and the lease will be ours and we move forward securing our fortunes in OIL - NATURAL GAS - COAL METHANE - FLARE GAS NANOTECHNOLOGY. Malcolm Bendall holds the world wide patent for the Flare Gas Nanotechnology, deemed to be the best process known.
Looks like there is life in PCSO
You don't have to admit it. I will force it out of you. Ve ave our vays.
EEGC is pure potential. Zip down side and to da moon upside. That may be an over statement but somewhere in the middle is accurate. I am not here to hype EEGC.....Hmmmm...scratch that yes I am....And for good reason. I am loaded with the stock and believe like all of the management of the company we have mucho commercial value hydrocarbons. If I were to average the guesses of the value of the hydrocarbons I could easily buy Maui. However I am holding out for the high end and have a deposit on all of Hawaii.
EEGC has posters that post both ways + and -. It all adds up to zero effect on the company, its potential, and when oil is brought home their voice is a waste of effort. Anyone and everyone on this or other boards that buy or sell stock based on posts need to educate themselves. Once it is announced we hit oil the stock movement will be caused by outside investors that will jump all over this stock. So what is the value of the message board. Zip, nothing, nada. If the poster can motivate buying or selling its good for a flip. That's pennies and you can make a good living flipping stocks if you do it often and with a lot of different stocks. People that monitor the IHUB and Yahoo boards already are investors and those trying to gain information as to buy or not are making a mistake because the word they hear is what the people with an agenda want you to hear. The word to listen to is the word published by the company not anyone else. If you are a long term investor then sit with the stock and look for a huge return not pennies. Its coming in my opinion and it won't happen over night. If you don't have the required patience then sell and go to Atlantic city or Vagas or any other gambling joint for quick results. Who knows you may have already won.
40% more of a company that doesn't have the money to drill isn't worth much
In a very short period of time we will receive a lease and that will set up a chain of events. Those events will become apparent and this is not what this post is about. There are many investors in EEGC and many have purchased the stock well above the 7 cent price. many questions have been posed as to who is buying the rights. That is nobodies business but the people that have rights available. There are many ways to look at the value in exercising rights at 7 cents when the market is at 4 cents. If you have a lot of shares at a higher price you can dollar average down, now is the question why average down at 7 cents when the average is better at 4 cents. There is a difference. The 4 cents is a better buy, but the 4 cents does nothing to pay for drilling. The 7 cents does and adds security in a way to provide funding for the drilling.
Now from what I believe the E tagged onto the EEGCE will be removed in the next day or two. The filing is ready to go. No questions please. wait for the PRs
You are all under the assumption that the quiet period I stated was imposed by SEC regulations. Wrong. The company, EEGC, now EEGCB.OB can also impose a quiet period for many reasons. They are legal and happens every day in companies across the world.
Once the lease is delivered much will come to light. Relax, hopefully this week will provide many answers. JMHO
The relaxing of the quiet period rules was just passed and are not in effect yet.
Do some work for yourself and get on the SEC website and see what they have to say. As far as what anyone else does in exercising their rights that' their business. I don't care what you do and you shouldn't care what they do. Also I am an investor and no where in the rules for buying stock does it mention answering questions. You want answers then work for them.
Does anyone know and understand what a quiet period is? The rights offering is an underwritting and new stock is being sold. I believe we are in a quiet period where no information can be reported. Wait a while longer, all your questions will be answered. But for now don't ask them and you won't be disappointed. Patience
Good Afternoon:
Look for a Press release about the same time as the awarding of the lease.
Till then I would strongly suggest you don't hypothesize because inevitably you would be wrong. Waiting for things to happen can be frustrating but that's life. Patience!
Talking about EEGC shorts. The best way to cause a panic for the shorts is to deprive them of information. If they can get caught unaware that will cause panic and cause an avalanche of covering when positive news arrives. Then up goes the stock price. This is a short term event as once the covering is completed the price per share will settle at a price deemed acceptable by the market. the short term panic covering is good for the flipper but has little or no affect for the long term investor.
Malcolm spends all of his time reading these message boards and reads every post over and over again so he doesn't miss anything. You have selected the correct line of communication between yourself and the company.
Even all the directors have regular meetings to discus the postings on IHUB and YAHOO. Nothing escapes them. Keep posting and keep the information and your expertise on how to run an oil company flowing so he can keep up to date and make this company a world class oil company.
Instead of wondering why not call Malcolm and ask him. I am sure he would love to talk to you since you are brand new to IHUB, born just today. I am sure he would love to make your acquaintance and fill you in with all the wonderful things about to happen.
That's a bunch of nonsense Every broker uses electronic systems it still boils down to NITE controlling over 70% of the market.
Patchman: You are overlooking the power NITE has over the penny stocks since he controls a very high percentage of them. That alone stifles competition and prevents the retail trade from getting the best Bid/asked prices. What he does on any particular stock I can't say but I think NITEs position falls under antitrust. I would like to see the live market trader disappear and all trading done by electronic means. We need competition to present a level and fair playing field.
Tech Master: A follow up on previous post. To get the information you requested you must identify your self as a potential customer and they will be happy to have you as a client if you qualify. You can contact either the Hobart office or HQ in Kansas. I urge you to call them as they want all the customers that they can get. If you seek to use the technology in the U.S. or North or South America use the U.S. Number if any other location call Hobart, Tasmania and they will put you in contact with a sales person.
I suggest you call the company for all the technical information as that stuff is over my head and I don't understand how it works.
The swearing in of the New government on April 21st means that the lease is not far behind. I would expect a celebration on the 21st and then down to business on the next day. To me that means we should have the results of the lease in out hands on or about Friday the 23rd. (hopefully signing on the 22nd and receipt on the 23rd. I also realize that there must be more pressing business to be taken care of so my dates may be off by the work load and what requires attention first.
EEGC fore me again Lucy, Thanks