In agrement with you Doc. In regards with the news paper statement you are right that it was stated that the rig would be moved if Hunt was not paid, indicating that it was still in place. I am guessing there is a little postering going on right now. If drilling was stop for lack of payment that is one thing, but there is no way they will be able to charge $10,000 day while it sits. Sometimes there is an standby fee of about $500-1000/day. I bet that EEGC is trying to renogotiate pricing as rigs are now renting for 50-65% of there peak rate of last summer. On the flip Hunt wants contracted prices as the are so high. At the sametime its not in there best intrest to hardball either as it will cost them to take the rig down and if they have to pay for storage not good and transport back to the mainland is very costly. Didnt they charge EEGC $500,000 just to move the rig last fall? Hopefully we can come to some terms such as $500 day stand by fee. 120 days ($60,000) and that 15million shares are being sold directly $1+ million wich should complete the drilling. Hope the rest of the PR has some meat to it, finacing finally flowing. Wait to see if this is really happening. As far as going the rights offering sounds like they plan on going through with this see if this holds true. As outside of getting my origanal letter saying that this may be offered (If subscribed) Has anyone heard any more to this than a letter of intent or PR's

Hey missouri, I hope you are right. If you read my post #3716 then you know that I said that I kinda felt like that this may be a joint venture situation. But it would have been nice if this would had been indicated. Perhaps it will be clearified in a few days, perhaps a few details need to be worked out or signing? I have watched a couple other exploration companies go down this path. Usally I have seen a 51/49 stake in these ventures. As most of the leg work has been done the incoming company will pay for a certien number of wells to be drill to aquire a working postion in the lease. From a share holder stand point this would normally drive a juniors share a fair amount. Yes what is in it for Geominex we know they get 1/3 of some potential new lease? Guessing there is a little more than that involved. Joint venture would probably be good. Anyway lets see what Howard has to say maybe he got something tangible.

Capts most of us are felling the frustraction including me. I think that it could be a good idea if we all email corporate and ask them to give us a run down on what is really in the works. Remember power in numbers I will guess that if enough of us call and email they might start to feel the pressure some and at least enlighten us a little. Perhaps we need to have a share holder meeting. I am personally all right if this is a joint venture at this point as long as we move foward. Granted I would be disappoint if we drilled and no oil but this is exceptable as an excepted risk in such an investment. What is not okay is with losing out because at best misleading statements. I will see this through but just give me some straight up information thats all we ask for.

Laura-lynn no need for a calculator. Your numbers are right. Weak volume today. about 36,000 shares traded before PR. After Pr 137,000 shares traded and price moves to .048 can't say anything strange about that but I wonder but such low volume probably nothing. Laura-lynn I like your take on $101K for $900M. Sounds like Malcolm has some side action going on to get a sweet deal ike that. I'm sure for that kind of money his young wife will be okay with it to boot. LOL. Oh well at this point we all need a good laugh. Have a good weekend everyone.

Finally PR what does it mean. What I gathered is Tad Ballanty a director with EEGC trades his ownership in Grand monarch for 2.5m shares of eegc. Must be a good deal for him of coarse Grand Monarch probably has little value. Then EEGC does a stock swap with Geominex giving them 90% of their new accurried shares of Grand Monarch in return for all of Geominex issued and outstanding shares. Now if Geominex is value at $900 million at a discounted rate why whould they do this? They must see some real value in transaction. Mcnastyy44 I see were you would come up with us hold $810 million in assets. Hard to believe. I believe that their is a lot of information not avalible to us to make a good assumption at this time. But I do have to say that I am kind of feeling joint venture hear. I guess we know now why Malcolm has been in London all this time. Did you notice in the PR about the coal bed methane. That it could be tested commencing with the Bellevue #1 well to be drilled shorly. Lot to take in here, but perhaps it is a joint venture and if Geominex has these kind of assets then capital for drilling will probably not be an issue. Tried to do a little research on Geominex all I found was the the are a private corp. with share capital. Not sure what share capital means in the UK should do a little more research on this. I did find sites that you could pay to recieve fillings on them so the are a reporting corp in the UK. I know this is not a lot to go on but hopefully as more contribute information maybe we can get some kind of bearing on what this means. No matter what direction this goes it does seem important.

Toshiba
Well it does seem like Toshiba has come up many times as a time issue. I wonder if there were contracts with Toshiba about delivery dates. Is it Toshiba techs setting up the Toshiba equipment, their programers or is this contracted out. If there are contracts for delivery,set up and such then Toshiba could be held liable for failure to preform? Does anybody have any information on agreements with Toshiba. It is hard to believe a large company like Toshiba could fail to uphold their end this badly. I know this can be a very difficult situation with computer control as I do the computer control programming at the plant I work at. Never have delt with Toshiba. We use Rockwell and I have delt with Honeywell. From what has been stated about the computer controll issue I find it hard to believe that computer controlls have been this big of problem on site that is. I know in the past it has been said that parts havent shown up on time or they sent the wrong parts. Anyway it would be great if someone knew any facts as to the Toshiba issue.

598,000 share traded.
I was wondering as it was stated that someone purchased 598,000 share today. But the IHUB trade board show this as a sell. Now the other day my buy also showed up on the IHUB trade board as a sell. I also remember someone else a few weeks back saying their buy showed up as a sell. Does anyone know about the IHUB trade board reading backwares or just no consitancy with accurrect buy and sell reprsentation?

Direct purchase.
Generally a company can sell direct at their discretion. If you look at the A/S and subtract the O/S this will tell you how many shares the company has in reserve. The can sell these shares directly or through a broker. The good thing about a direct sell usally there are stipulations. Such as the shares are restricted. Usally they will have a one year restriction which means the buyer can not sell them on the market for one year from the date of purchase. This way they do not affect floating share structure. Sometimes there is a buy back stipulation such as the company reserve the right at anytime to buy back at a premium in a set time frame usally 1-2 years. They may sell a share at $.07 now and state that up to 1 year they can buy back at say $.20 and between 1-2 years buy back at $.40 or such. hope this helps.

Going to watch the video again. Doc I think you are right. But before I judge I will watch the video again. I also thought that it was clearly stated that they had funding in place and enough to cover 2 wells and operating expenses. I must have missed were all this no funding came from.So can someone tell me where this came from. Now I am not so concerend with this 2 week issue as they only indicated about 2 weeks. Now I am sure that Mr.Calloway with his experience with a muti billin dollar multi national corporation as a CFO is very aware that he could be held liable personally in making false statements about finances. So as I said I shall watch the video again to make sure I did not misunderstand. Again were did this they do not have financing come from. Are we sure this is the case or is someone spreading false information. I am concern as most everyone else. this definently a case were we want to find out what the truth really is. I do believe there are some pumper and dumpers with this stock so I take everything with a grain of salt when these type of statements are made. I like you invested more into EEGC based on what was said in the video. I hope that financing is in place and we are drilling soon and we will all forget about this.

I dont think anyone can say that CPRK will get any power from off their own property in the near term. But this may be a possibility in the future. The real potential With CPRK is with the ore deposites that are on their properties. In the future this could be a real possibility and you are right electricity is a very large cost in modern ore processing. that being said CPRK has some real possibility to being a very good return. As you already seen there are those that will feed you negitive information on CPRK. Hopefully you will do your own research and see the real potential of CPRK. My personal opionion is the are a few on this post that will only feed negitive information or (OPIONIONS) on CPRK. I personally believe in this company and it future potential. I hope that geo is in the future but in reality this is probably a couple years away. Between now and then this company has some real potential in mineral resources and we are very close to being a producing company. Either way this company will probably be a producer, so if you wish to make money or be invlove with someone that is contributing to a green future CPRK has good potential for both. Just my opionion and glad to have you here.

Interesting phomena isn't it.
You would not think that this would be the case with an upstart days away from something possibly huge with the potential worth of billions of dollars. Couple possible reseasons for this. Market manipilation. Thoughs who dump to creat a panic so others sale dropping the share price. Then they can either pick up more shares on the cheap. ( sell at .05 market drops to .04 then buy back in they now have 20% more shares than they started with). Or basicly the same but those that do not controll any stock but sell ghost shares at said price and hope to buy shares cheaper and pocket the difference. A lot of times they need to manipulate the market to get the market lower ie. bashing. And we may be at the point of last opprotunity for the shorters to manipulate this stock. Once they leave and we have good buying pressure we should see good upward movement. Find commercial oil and oh yeah maybe the funnest ride you ever had.

Cant wait for the report. Always good to have someone on sight to give first hand account.
Okay reasons for owning EEGC. (IF proven oil)

1. Northern oil and gas (small independent) only 767,000 barrels proved reserves. 34million out standing shares. current price $4.57 52week $2.01-$16.40 If EEGC proves 7.7million barrels with 340millions shares markets says $2-16 shares price.

2. Occidental petroleum. (Medium size)2.8billion barrels proved. 810millin shares. EEGC share structure 42% of 810million 2.8B BOE X 42% = 1.175 billion BOE middle range of EEGC estiments. OXY 52week range $39-100 share.

So EEGC potential with small discovery is 2.01/.043 (46X)- 16.40/.043 (381X)
LARGE discovery 39/.043 (906X)- 100/.043 (2325X)

So $1000 investment upside potential $46,000-$2,325,000 As determined by the market.

Glad you made it clear that it would be a few 1000% because at only 1000% ($.43) would not be worth my time. I could invest in say GE a year ago at $30 and now $10 so $3000 dollar investment now worth $1000. But my money is safe right. Just throwing a little humor out there. But this is garrenteed right just like GE, GM, AIG, Banks and you always get to make money on investments. I mean I do not know anyone that has lost money investing in these safe corporations do you?

Good point
On the same note of to many shares if a big or even a moderate size company or private invester has interest and believe there were enough floating shares to be had for a take over say 1.5 billion share at todays price(.016)they could become the majority share for $24million. It would be interesting to know how many shares MD and key insiders have. So 3billion shares @ .016 this company is valued at $48million with a mill that cost $60m possibly worth $100m plus mining equipment say $20m and the mineral wealth that has been estimated worth over $1B at just the hidden treasure mine. It is a strange situation we have here. I do have to wonder why some interested party is not scooping up alot of share for cheap. I guess we're the only ones who know about it at this time. We have all talked about the share structure but at these share prices this is grossly under valued.

The best I can say is
Making a statement on TV that says that you have raised funding that will carry you through 2 wells plus working capital that could be seen by possibly 170 million people worldwide to me consitutes an announcement. PR on 3/24 said it was official sounds like an announcement to me. So I guess if you need written proof maybe go to their office and ask to see it.

Maybe I missed but I'm not aware of anyone voicing their evnagelical beliefs on this forum. It is good to be as factual as one can be but also this is a speculative stock and speculation and caution are both warrented. I agree with you that Callaway does probably give some balance to Bendall and I sure that Callaway had a lot to do with securing finacing. Believe me it was good to hear Callaway talk about having funds for the first 2 wells and working capital. That doesn't mean that that none of us don't know that not hitting oil is a possiblity and finacing has been a concern(causious)but we are all hoping for the best.(speculation)and Factual well the best scientific data we have a this point. So now we have some positive news and hopefully that drill is turning soon and we get some black goo and lots of it.

I agree
Interesting read. Good present on both sides. What I found a little interesting is that is was said there should be seeps everywhere. Out of 140 most were dismissed. Well this can easily be researched and over many years there have been many seeps found. I believe even a U. Tasmaina study on a seep found its source from the tasimite shale from many miles away. Also we are talking about possible oil bearing structures many 1000's of feet below the surface, not shallow structures. No mention of the Tasmainan basis bordering the Gibbson basin with its 4 billion barrels of proven or the large bass basin. Not that this means tasmania has oil. But considering that there are large oil and gas basins next door you would think someone would mention this. Also interesting is Mr Bendall says his company's research inspired Tasmania's oil and gas pipeline across Bass Strait. "Tasmania has a pipeline and can thank Great South Land Minerals for that pipeline because Duke Energy wouldn't have built it if they didn't believe there was oil and gas onshore, " Mr Bendall said. However, a former Duke Energy executive has told Stateline the company did its own research, which did not involve GSLM. Might be nothing besides words used but former Duke exectutive did not rebuke the comment that if they did not believe there to oil and gas the would not have built the pipeline only that they did their own research. Like I said interesting choice of words but maybe means nothing. Overall good presintation of both sides. Hopefully we know the answer soon. Do I hear a drill turning?

Accually there was new information.
Sure there are no specified dates but inregardes to financing On 2/20 they used the word anticapates and on 3/24 officially.
Now in the video MR. Calloway stated that they had just gone through fund raising that would carry them through the first 2 wells and provide working capital. The host said so 2 weeks from now and was not corrected (refering to drilling). Mr Calloway went on to say that in a few weeks upon discovery that people would miss a huge opprotunity. So funding that will carry them through the first 2 wells plus working capital inplace in PR that is televised across the world IMO is new. So they have plublicly stated that they have capital for 2 wells and without giving a specific date implied about 2 weeks and possibly a few weeks to possible discovery of oil.

Based off of current information it is estimated that there is a 90% chance that there is 600 million barrels, 50% chance 1.3 billion barrels and a 10% chance of 2.6 billion barrels. These are prosective possible odds. At this time there is 0 proved reserves only prospective probabilites. So the 50/50 chance is if it were proven there is oil based on the known geology it is estimated that most likely estiment on the geological structures they would hold 1.3 billion barrels. Again these are probabilites based on sesimic data. We drill we get oil we do 3D sesimic and step out wells then we get proven.

Answer to the 30 billion barrel debate.
It has been stated from geological reports that the tasmanian basin could have generated up to 30 billion barrels. Now that does not mean that 30 billion can be retrieved. Generally we can extract 10-25% of the avalible oil depending on permablity of the ground. Formations such as the Bakken (huge deposit in Montana/N. Dakota) permablity allows for 5-15% extraction. Now if 1/2 of the origanal oil is still in place that takes us to 15 billion. If we can economiclly extract 10% that gives us 1.5 billion barrels of reserves. If you look at EEGC estiments their P90 is 600 million, P50 1.3 billion, P10 2.6 billion. These numbers are the odds (P90= 90% chance) that these amounts are commercially, economical and technologically avaliable. These estiments are based off of the current avalible information determened by a petroleum geologist. So for EEGC potential these are the numbers that should be used. As new information become avalible these numbers will be modified. So as of now best guess is there is a 50/50 chance of 1.3 billion barrels. If this is proven we will all be lauging to the bank.

Was a sell
Look at ihub trade board was recorded as a sell.

Low volume day.
Good news more buys than sells. Is everyone holding their breath. Is this the calm before the storm. Are they not going to have PR until they are drilling, instead of giving us a date? I hope, it will give me a little more time to secure some shares cheap.

Nice action at days end.
Interesting what happened at the end of day. Trading at .0155 with buys outpacing sells by 82% 4.3m buys/2.36m sells. Then a sell for 4.75m share @ .0146. So someone again dump a large lot of shares below the market price. Then the price immediatly recover and moves up to .016. Seems odd that someone would want to dump so many shares now and want out bad enough that they will sell at a discount. Make no sense unless someone desperatly needs money or NSS. Looking forward to reading some post from those who attended the GO in the next couple hours. I'm ready for the good news.

Major exchange
The other day there was a lot of talk about to list on a major exchange. It was stated that this would cost $1m to do. Did a little research and found that listing would be American exchange $70,000 with an annual $40,000 $3 share price to list. NASDAQ global $150,000 annual $95,000 $4 share. NASDAQ capital $75,000 annual $27,500. $4 share. NYSE $250,000 max with $500,000 annual max ($930 per million shares). All had a $1 share to stay on exchange. Remember that we all have voting rights so if we get a proposal to change share structuring ie. R/S to get price up reduce A/S and move to a major exchange we can if thats what we desire. Boards are required to do whats in the best intrest for the share holders. First though lets get the mill into full production. Cant wait for this thing to start rocking.

Volume question
If for many days there are more sells than buys, the general idea would be that we would see downward pressure on the sale price. Since we have been holding and even trending a little up is this an intication sellers(NSS)are trying to get out now but they cant afford to sell lower. Just a thought. Curious what others think would cause this. Can't wait to hear from those going to the GO. Wonder if there will be PR tommorrow about this or they wait until next week?

WUCC or CPRK?
well I wouldn't worry to much. On numerous occations from MD and on the video that they had on their website it is clearly stated that WUCC is a wholly owned subsiduary of CPRK. So CPRK owns WUCC. I really dont think MD would try a switch a rou. There are to many that would not stand for this and they would no doubt be investigated. With so many plublic statement that CPRK owns WUCC this would constitute frad and I doubt MD wants to go to prison and lose his life work. And as said by so many that MD is a good old boy (loalty, honnor, integrity) This means a lot.

Well that doesn't help
I personally would have issue with my broker if they would not allow me to dictate at what I ask for a sell price. To each their own. If your over all happy with them maybe set up an account with another broker that is more pink friendly. Many seem to be happy with ameritrade and I am happy with zecco but not as high end outfit as ameritrade but cheaper.

Don't worry
The odds of it being cold enough not to drill in Tasmnia is slim to none. I know of guys here in Montana drilling in sub zero. The only thing that would stop them is some very adverse weather.

6 of us posted this morning.
I'm guessing thats around 10 million shares so far. If the average person has 1 million shares a few hundred people well were talking a lot of the share structure. Just six of us. How many havent posted yet. How many read this forum but never post? Hopeful that we can make a difference. Even if we could move this to .04-.05 that means CPRK will have to sell 1/3 as many shares if the need a little money. I hope we can move this to ware it should be right now(.10-.25?). I have 10% of my shares at $1.00 for near term. and the other 90% splite between $3.00/10.00 for the long term potential. It will be interesting to see if anything moves between now and PR.

The sad thing is
That the SEC is probably more effective than those government agencies that you listed. Sad isn't.

Phanton shares
If NSS are the problem then if we can take enough shares off the market then someone will come up short on their NSS. They will get called and either have to fork out more money to purchase shares at higher cost. And since they have to turn these shares over within a specified time frame, if there are not enough then there going to get caught in an illegal transaction. Heavily fined and hopefully jail time. Like it was said recently we're go to kick them NSS in the balls. Now we have no idea how many shares this may take but maybe we can move this. Many of us have been buying up a lot of shares at these prices. With the number of share held by insiders and us long term holders is a lot of the share structure. So I'm going to put in limit sells on all my share at my target prices. We have heard some state their first strike prices of .20, .25, .40, .80 If we all due this maybe we essencially take some hundreds of million shares off the market. Worth a try. Maybe it works maybe it doesn't. But at least I know my shares are not being used for shorts.

So far so happy.
I use Zecco. I have only been using them since July. So far happy. Trades are only $4.50 straight up no restrictions or hidden fees. Sounds like others are happy with their Ameritrade accounts. Do a little checking for what services you need. Zecco has been good for simply buying and saleing shares which is what I wanted. The cheapest I could find.

Just to add.
I just went to my broker and put in a $1 sell. When I first entered I got a pop up that told me that my sell price was more than 50% above the current market price. Due you want to continue. I entered continue and my order went right through. Hopes this helps with your situation. Bet you will not have any issues in a few months if you tried to put in a $1 sell and the price is $2. Bet they would let that go right through. Fun how thats works, stick to the little guy some more. And they cant figure why the people are so angry. Good Luck.

I would call Scottrade.
I would ask a representive what the deal was dictating what you can and can not buy or sell your stock for, its none of their business. If they are unwilling to address this I would tell them that I would be looking for a new broker and be telling all my friends to move or not use them. If this does not get them to unrestrict your account, then you really do need a different broker. I have also seen many others having issues with brokers with pinks. Some brokers you simply need to call to put an order in. Some charge for this others will wave the fee under certien conditions. Best to call them and see if they can work this out first as long as your happy with them. Maybe you just need a second broker that is pink friendly.

Interesting question.
If enough people do this it might help only because as we post limit sells it might show up with these as ask prices. Maybe some people will start wondering whats going on like we know something that they don't. Most likely it will not do much if anything. With PR though we might be able to move the price a little quicker. Worth a try though.

It to bad that such companies are short sided. If you have the money this is the time to expanded. In this case Drill rigs are renting for 1/2-2/3 of what they were a year ago. As far as oil prices no one is thinking they are going to stay at this level for long. Odds are that this summer we will be in the $60-75 range. Prepar for the future. This is how Rockerfeller became so rich. Hoard your cash in good times so that you can take advantage in down times for take overs and low material and labor prices.

Yes this is generally what happens with minerals leases. If you are able to prove commercial viability your exploration license Will become and operational license with a new set of terms. Such as they may be required to expend X dollars in improvements (wells,pipelines)and of coarse the roalty fee's that the government very much wants.

Were dealing with Australian law, so I can not say for sure if this applies. In the US the normal pratice of licensing is that you are required to expend a agreed amount in development. Remember the article were the greens not wanting GSLM to have a license. That was answered they had spent $28m and the license only required $21m. So if they meet the terms of the current agreement they would have senior rights to renew the lease. And typlically the same conditions. This is why their license was renewed before. If they fail to invest the agreed amout then the lease will be auctioned off to the highest bidder. This is the only way to be fair. Or else you would have large companies able to sit back let someone else do all the leg work siemic drill a well and prove oil. Then simply come in offer a high bid and take over a field. I would think that Australian Law is simular to U.S. law. So as long as GSLM meet their obligations under the current lease agreement they would have first right to renew the lease. So lets just get the money, drill and hit oil and forget about such things. Its time to get some traction and get into 3rd gear. Lets go EEGC.

A post in the Salt Lake paper is probly a good bet. At this time the number of jobs that are expected when the mill achieves full production will be a welcomed article for the people of Utah. The new revenue (taxes) will be welcomed at the state level. This is a very big deal and will be good PR for us. IMO it would be a shock not to have a big news agency there. This should be on the 5 o'clock news in Utah. It probly would not be a bad idea for someone to ask if they plan on having the media there though.

Here's a quick answer to your question. It is likely that they will drill through CSG. But during production there will not be mixing. They know traget deeps, so at the targets is were they will have perferated pipe. (pipes with holes that allow gas/oil to pass through) Other sections will be solid pipes. Nothing will pass through. You will hear these perferations also called chokes. The size can be changed to inhance flow rates and maintain pressure. Size such as 24/64inch would be common. How this helps with your question.