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Hey Jerseyfish. On a scale of 1 to 10 with ten being the greatest, what are the odds of drilling within the next 6 months?
I can see how you could confuse LRE with EEGC
On Thursday, September 13, executives and guests from Houston-based LRR Energy, L.P. will visit the New York Stock Exchange (NYSE). LRR Energy, L.P. began trading on the NYSE on November 11, 2011 under the ticker symbol “LRE”.
To mark this occasion, Eric Mullins, Chairman and Co-Chief Executive Officer, and Charles Adcock, Co-Chief Executive Officer, joined by members of the company’s management team, will ring the NYSE Opening Bell.
The interest in EEGC is one for the books. So many people watch it's progress every single day. Even the nay sayers stay glued to see what the outcome will be. The events up to now don't bode well for the company but most of us must think there is still a chance. After 5 years I'm not giving up now.
I don't think any governing agency spends too much time worrying about verifying anything said on the pinks.
Like you Jerseyfish, I am speechless. Words cannot express what is in store for EEGC shareholders.
I am glad we have not been burdened with a load of PR's telling us all kinds of positive stuff that never seems to come to fruition. I would rather not hear a thing until there is real, verifiable information to be given. I think I will buy some more shares though. At this rock bottom level a little money will buy quite a few.
The sad part is the black knight of EEGC will still be on two stubs with no arms left claiming it's just a flesh wound and touting great plans of forward progress to all the loyal suckers...I mean subjects.
You have advised us several times to sell our shares. That might be right for you but I wouldn't sell any of mine. I am in at .07 so I have taken a pretty good beating. Nowhere near what some others have. I'm sure there are lots of shareholders with at least 100,000 shares and they got in back in the .17 days. I readily admit defeat but there is still that tiny little chance this could somehow recover to some extent.
"I bendall the rules for you".
It doesn't appear that the drilling will happen before April 2nd.
It makes me wonder just how capable EEGC management would be at handling the company if success were to drive the share price very high. Untrustworthy in small things, untrustworthy all the more in big. In my opinion, nothing is going on that any of us would be happy to hear.
We've hoped the best for EEGC and hung in there many years. Be prepared for another let down. There isn't anything to give the slightest hint otherwise. Malcolm would be shouting from the mountain tops if there were anything to report. Mothball this one for another year.
That's because it's more like a white wash than a paint. And the white wash keeps being re-applied every so often before it has a chance to dry. The painter doesn't want the white wash to dry because if it dries a lot of people will be able to poke it. Now a good "oil" based paint would be something we could all be proud of.
I would be willing to bet 10,000 of my EEGC shares that there won't be any drilling in April, or May. If you take the bet now it would be worth about $200. If you wait much longer it will be worth about $20.
There must be trucks carrying lots of equipment and manpower right now to accomplish drilling by April 2. That's 19 days from now. They are probably much too busy to waste any time letting stock holders know what's going on. I wonder if Malcolm is still in Korea. Oh well! I mean oil well!
That's been the history. You can argue about it but you can't change it. Odds are there won't be any drilling going on in April. The same exact pattern exists now as it has for many years. Lots of vague and unsubstantiated news. No proof of anything they say.
I wouldn't count on a single dollar coming out of this. You better plan on it going like it has in the past. We've seen it too many times before. Don't get your expectations up because the history has been a let down. If it happens, great! But the probability is low.
I don't think it is a very good idea to sell at 2 cents. There is always a chance, albeit small that EEGC will make something out of almost nothing.
Just some fun facts. I was curious about relative size when talking about barrels of oil. The standard petroleum barrel contains 42 US gallons. Using on-line conversion for volume, one foot/acre is 7758 barrels. In other words 7758 barrels of oil would cover one acre 1 foot deep in oil. One square mile is 640 acres X 7758 barrels = 4,965,120 barrels. 15 square miles X 640 acres X 7758 barrels = 74,476,800 barrels. So every extra foot of depth over 15 square miles adds another 74,476,800 barrels. We need an oil deposit 3 miles wide by 5 miles long by 140 feet deep. That's not asking for too much, is it?
By James Woolley
If you have been involved in stock market investing for any length of time, you will know that there are lots of people who like to invest in oil companies. Indeed if you go to the forums there will be lots of speculators on there who are looking for the next big thing in the oil sector. So why are oil stocks so popular?
Well as I’ve already alluded to, they are highly speculative but the rewards can be absolutely huge. Just one good oil find can be a potential company-maker. In other words you can have a really small company that drifts along each year slowly losing money as it continues in vain to look for new areas where oil hasn’t yet been found. Then one day it can find a large supply of oil and all of a sudden the outlook for the company completely changes.
A company can easily go from a small-cap loss-making company to a mid or large-cap company that’s making huge profits each year. Obviously when this happens the share price goes through the roof and you have a real multi-bagger on your hands.
So it is clear why oil stocks are so popular. They are a gambler’s dream because you can make massive gains if you invest in the right companies.
However therein lies the problem. The truth is that these overnight success stories really are in the minority. Yes you may get a few success stories that make investors an awful lot of money, but you will also find plenty of examples of oil companies that never managed to fulfill their potential, or indeed make any money, and ultimately went bust.
The trouble is that it is such a risky sector to invest in. You can easily lose everything if you’re not careful. That’s why most older people and the more risk-averse investors generally steer well clear of them altogether and put their money into safer stocks with visible and more stable future earnings.
Ultimately though it’s entirely up to you. Some people have some spare cash lying around that they are prepared to write off in a worst case scenario. So in this instance it may be worth taking a punt on a few small oil stocks in the hoping of finding a potential multi-bagger or two. You could even set aside a tiny percentage of your capital to put into a few high risk oil companies. However the point I want to get across in this article is that you are basically gambling when investing in these oil stocks, so you should be prepared to lose money if they don’t strike oil.
There is definitive proof for one thing. May is almost here and we are still dead in the water. It would take a PR the size of Texas to rectify that situation.
I would be willing to bet their won't be any PR with real information of funding this week or next week or next month or this year or next year. Just my opinion.
Why do I get the feeling we aren't going to learn anything of any consequence. The definition of insanity is doing the same thing over and over and expecting different results. You have to give Malcolm credit for having a marvelous imagination. There are no boundaries to the colorful creations he continues to put forth. I hang on in the offhand hope he will pull a unique crayon out and hit pay dirt.
Does anyone think this is accurate?
Bellevue #1 drilling plans underway, drill rig being secured, Terrex Seismic contract signed
Bellevue #1 drilling plans underway, drill rig being secured, Terrex Seismic contract signed, permits in progress, Seismic trucks mobilized in Tasmania for survey. NBD Partners Energy buys USD$50m Convertible Loan Note option.
That's interesting jerseyfish. From what I can tell RAB Special is an investment company in the uk with a stable history. Apparently they are taking interest in natural resources. 16.5 million class A shares and 5 million class B shares not to exceed 10% ownership. Are they buying in to EEGC or providing services in exchange for shares?
I have to agree with jerseyfish. Malcolm isn't a quitter. He keeps plugging away at this. I think anyone else would have given up long ago.
Empire applies for two exploration licenses to develop identified Tasmania Basin blac
Empire applies for two exploration licenses with the intent to develop identified Tasmania Basin black coal potential
FOR IMMEDIATE RELEASE
PRLog (Press Release) - Feb 10, 2012 -
LEAWOOD, Kan., Friday, February 10, 2012 -- Empire Energy Corporation International (Empire) (Pink Sheets: EEGC.pk - News) announces that it has established a Special Purpose Vehicle (“SPV”), to apply for exploration licenses, with the intent to develop identified Tasmania Basin thermal black coal potential. Two Exploration License Applications over the Mt Lloyd Area (within EL14/2009) have been submitted to the Director of Mines at Mineral Resources Tasmania for approval. Both are Category 2 Minerals including coal and coal bed methane. The first covers approximately 250km2 of land in the Northern Mt Lloyd area of Southern Tasmania. The second covers approximately 250km2 of land in the Southern Mt Lloyd area of Southern Tasmania. The intent is to conduct drilling and further seismic surveys to prove up possible resources and reserves to a Joint Ore Reserves Committee (JORC) code reporting standard on these license areas.
The coal measures being assessed have been identified through 30 years of collective research and exploration (www.empireenergy.com technical papers) within the Tasmania Basin by Conga Oil Pty Ltd, a predecessor company of Great South Land Minerals Ltd. Great South Land Minerals Ltd itself is a subsidiary of Empire, whose detection of coal across the basin was mainly through seismic methods, calibrated by the Hunterston stratigraphic well (32.5km east of the Bellevue drill site), by way of coal core analysis and a down hole seismic velocity survey prior to shooting the 2D regional seismic. This was also in combination with extensive studies on the Tasmania basin development, geology, stratigraphic drill holes, open pits, underground drill holes, mapping of coal outcrops and old mining records to help identify prospective areas.
Currently Tasmania produces 500,000 tonnes of coal per year for local consumption from historically identified, measured and indicated in situ reserves of over 578 million tonnes, as reported by the Tasmanian government geological survey (Bacon 1991, Appendix 1), which pre-dates the JORC compliant guidelines. Tasmania has 10 major coal fields which cover over 42 local coal fields all within the Tasmania Basin, which is about 30,000 Sq. Km in area, of which most is potentially prospective for coal. Historically, mines extracted only a fraction of the coal at Mt Lloyd as it was marginally economic to extract and operationally difficult. With a strong international market for Australian black coal more than doubling the average price since 2005, together with significant major new road and port infrastructure development in part for the large cable logging operations completed at Mt Lloyd, has now made coal mining an exciting prospect. http://www.mrt.tas.gov.au/pls/portal/docs/PAGE/MRT_INTER ... no 64. Coal Resources of Tasmania, by C. A. Bacon, 1991
Source:http://www.indexmundi.com/commodities/?commodity=coalaus ...
Empire 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 contained 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 Int’l, please refer to its 10-KSB and 10 QSB reports filed with the U.S. Securities and Exchange Commission.
Contact: Malcolm Bendall
+61 3 6231 3529
# # #
Empire 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.
I think it's safe to say March and April don't give much time to complete any kind of drilling. We better move on to plan B.
Anybody know what plan B is?
Jim16640 - I want to express my condolences for the loss of your wife. I don't visit this sight very often and was saddened to read your post. I don't have as many shares as you but I do have a hefty investment in EEGC that I wrote off several years ago. Like you I have become disheartened with Malcolms misleading and less than honorable business acumen. At the very least he owes faithful investors the truth. We have seen many interesting characters come and go on this board. Yourself being one. I will continue to check this stock periodically as one day it will be at one hundredth of a cent or 25 cents. None of the bantering on this board will make any difference. I just hope you and I live long enough to see the 25 cents.
I think just the opposite is true. Everyday there is no PR tells me that Malcolm learned a valuable lesson. Don't say anything unless it can be proven for all to see. I think the wait is worth a PR that will give us real information that can be corroberated. TXO and EEGC are definitely busy working on something. When we finally see a PR I predict it will be informative and accurate.
I am still of the opinion that the most favorable indicator is a lack of communication from Malcolm. Things seem to be progressing and in the past we would have been bombarded with PR's by now. I think they are working and waiting until something takes place that can be corroberated. When people have faith you are telling the truth they will invest. I'm hoping EEGC has matured enough to know that.
We have to give a little credit to Malcolm for learning an important lesson about PR's. Historically we were inundated with PR's promising the world and delivering nothing. Now we don't get any PR's at all. That is good in my humble opinion. One of two things is going to happen. EEGC will go down in flames or they will pull a St. Louis Cardinals come back and impress us all. Go Cardinals. Go EEGC.
That's why we don't hear anything much anymore. I think they learned a lesson. I'd rather not hear anything until there is some real progress being made. There's a glimmer of hope that one day we will read some very good news and recoup some or all of our investment or maybe even gain a little. It is possible. I've been waiting for over 4 years. I know some of you have been waiting much longer than that.
At one time this was actually a fun stock to be a part of. Maybe we will see those kind of days again. I never really bought in to the $100 a share rhetoric but with a little luck and some due dilligence we might one day see .50 and that would make most of us old timers pretty happy. Heck, we might even hear from old Howard if he is still with us.
Doc,
We need divine intervention. The whole world is in a serious funk. The U.S. needs new leadership big time. This stock doesn't stand a chance with the type of leadership it has seen. Leadership is the key. No true leaders in a long time. Obama and Malcom need to go.
We all took a big loss. That's the nature of the stock market. Sometimes you lose big and sometimes you win. I'll just hang on to the shares I have. Maybe somebody with principles and honor will take the reigns and get us back up to a dime. Or maybe not!
Time to put this one on the shelf and forget about it. Maybe in ten years they will have diversified into the frozen food business and I might get my .07 back.
Looks like there is about 4 months left (120 days) before this game is won or lost.
LEAWOOD, Kan., May 11 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire, OTC Bulletin Board: EEGCE) with its wholly owned subsidiary, Great South Land Minerals Ltd. (GSLM) announced on Tuesday, May 11th, 2010 that GSLM has received and signed the documents for its Tasmania Basin license EL14/2009. This license area includes the two main structures identified in GSLM's previous seismic and gravity surveys; the Bellevue and Thunderbolt domes which leading independent consultants, RPS Energy, estimate could contain undiscovered potential petroleum resources totaling 447 million barrels of oil, which would potentially have a value of $2.2 billion assuming $5 per barrel.
At least we are not seeing any more of these. Personally, I don't want to hear a thing until there is real, certified, concrete, positive information.
7-2-2010
Empire Signs USD$180 Million Structured Finance Agreement for 12 Hole Drill Program - GEFCO Rig Order Confirmed
Friday July 9, 2010
Financing Progresses, Sure Fund Issues up to USD$180 Million in Principally Protected Notes in Favor of Empire's 12 Hole Drilling Program
Tuesday October 26, 2010
Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finance Transaction, Rig Set to Return to Bellevue
A very Merry Christmas and a Happy New Year to all on this board. Good things take time. It's a better story when you overcome adversity before obtaining success. I wrote off my investment with EEGC 24 months ago so whatever happens, happens. A lot of us longs still believe there is a chance, however small, that something good could come out of this. I'm hanging on to every share. We shall see what next year brings as we quickly approach "make or break" time.