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Agree Bob, if he has the money he should lend it to the company to start drilling. It appears the "if" really means he does not have it. The risk of waiting is too high which implies no money.
Blind leading the blind
My point is the pumpers claimed this to be the holy grail of all PRs and we got more fluff.
What happened to all the meetings and the US group raising money for the drilling?
Bottom line - both funding and extensions are needed or this stock goes to zero!!!!
Update on the web site? When?
What happened to all the exceptional news a couple of people predicted acting like they knew something?
The PR was delayed to include the new developments? I am glad they waited or we would have really gotten a weak PR!
Malcolm, John, Alan, are we going to go another week without a press release? By law you are required to update investors/public on significant events. I would be surprised if there has not been anything significant since the last press release.
You are exactly right with that statement.
There is a fairly high probability it will go to zero. There is a chance it will go over $10.00. This has gone from an investment to a gamble.
In my opinion the fat lady has not sung yet. It is fairly common knowledge there are negotiations going on. We are assuming with both financiers and MRT. The meetings have taken too long. If they never reach a solution, you are right. If they reach a solution then Howard is right.
Eanrnest, the cumulative loss is the same if it goes to zero. The cumulative gain is the same if it goes to 10. If I sell and it goes to zero, I simply shift the additional loss to the buyer. If I sell and the stock goes to 10, I simply shift the gain to the buyer. You can only control your own account. In reality the company does not care who owns the stock.
20 months and counting for me.
Howard, when are we going to get a PR?
In my opinion the success of this company lies in the extension or receiving a new exploration lease. It makes sense for MRT to do this. If MRT gives a conditioan approval to drill MRT can find out what is really in the ground faster then starting over with a new company. Funding will be easier once an extension is given.
I'm sure you ment approval June 12
57 days ago.
Funding is still a question.
Timing of the PR? Monday? Tuesday? Sometime next week? The following week?
"any significant events"
Pasted from your post.
I did not advocate a law suit at this time. I do believe the company has a fiduciary responsibility to update investors about certain items which I do not believe they are doing.
I truly hope you are right about your predictions but the market has no faith as shown by the $.0145 price.
I am going to stay on hold for now. Several months ago I heard somebody was starting a law suit, but I never heard who was behind it and I am not a party in it.
I know there are company activities going on to get drilling started. I hope it happens. I will wait to see what develops, but the company OWES us an update.
This is exactly why we need a press release. No information creates anger, frustration and speculation. Give us an update EEGC/GSLM. Patience is no longer an acceptable answer.
(Note: the good people telling us to be patient are not part of the company.)
Malcolm, John, Alan, when are we going to get a press release and end all the speculation about what is really going on?
In the registration statement from a few days ago it shows they hold them. They are either restricted or warrents.
If I were Hunt I would say give me another 30,000,000 shares and I will drill it for free.
Hunt owns 10,000,000 shares of EEGC. They would love to see success.
Any info on when this will be in a PR?
I have not bought or sold shares in about six months. I got on this board hoping to learn more then I already knew. All I have really gotten is an emotional ride.
That is truely all I know.
No, but Howard probably pushes more then I do.
My opinion is two things are happening (or should be if they are not happening).
1) Negotiations with MRT to either extend the lease or get approval to drill at the 17 sights even if the SEL expires. MRT can do this very easily, though it is not the norm.
2) Get the financing in place to drill the 17 sights.
It could be a "which came first, the chicken or the egg". Which comes first MRT extension or financing. Both sides might be waiting for the other one to come through.
I am reading between the lines from various conversations. My sources say MRT would like to have EEGC drill because this the fastest way to find out what really is under the ground. But they don't want to extend until they know EEGC has the money and will proceed quickly. They are tired of how slow this has been going and too many excuses. There are a couple of groups that would put up the money but won't do it until the know they have approval to drill the 17 sights.
My perception is Malcolm doesn't want to dilute the stock which presents another road block. It is also my opinion that if Malcolm turned over the CEO to an experienced oil man, the negotiations would go much better. Plus this would help Malcolm’s bottom line.
I have concluded my main source is the same as Howard's. Which is simply saying things are happening but don't know when we will have a PR.
What is the basis for this belief?
The company needs to give us an update!
That's my agenda. Others are short the stock and others want the lease area and are trying to sabotage EEGC.
I fully understand things are going on. I would like to see things finalized and made public in a PR and then real work can proceed.
I wish there was proof of funding. I hope there is an extension of the lease past Sept 30, 2009 or a new lease received.
That is the whole issue. That's why the stock is at .015.
I am holding based on a wish and a hope.
Come on Malcolm, John, Alan its time for an update! Patience means you are not getting this wrapped up. No excuses - get it done! Dilution happens! Compromise happens!
Are we talking days, weeks, months, years, decades, etc?
Anything else?
Does anybody have any real news?
Charts are meaningless right now. The issue is whether MB can get his negotiations done with the various parties or not. Obviously he has not got them done yet or we would have a PR.
Invest2002, if you are tired of reading the BS, there is a simply solution.
No answer - answering machine came on.
I have called the office in Kansas about once a week for the last six months. At first I could get John Garrison. He was always friendly and we had good but brief conversations. No real information outside of any PR's. (No inside information.) But he has not taken a call in six months. Tara used to answer, though very nice would not say anything about progress and said she would give a message to John. Nobody has answered the phone for the last two months. I assume Tara is gone.
I think it would be a great idea for someone to stop by the office. The door may be locked.
I know one person who has Malcolm's phone number but he no longer posts here. He will not give me the phone number. I spoke with him several weeks ago and he was still buying. (No inside information from him either.) He did expect a PR long before now.
I agree completely.
I questioned Malcolm's leadership a few months ago, even stating if he couldn't get it done then somebody else should replace him that could get it done. I thought share holders should demand change or get somebody that could run the show. This would also be to Malcolm's advantage.
I was attacked by several on this board. I gave up because I was standing alone.
I still feel the same.
I would love to eat these words if he gets it done. However, no news is bad news. We need change, someone from the oil industry that knows how to build from here. Callaway could be the man if his health permits.