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A couple of points need to be made.
The Flare Gas Nanotechnology is a patented process for reclaiming gas and Malcolm Bendall holds the Patent and has given the exclusive rights for North and South America to Empire Energy.
The amount of shorts at any time is not predictable because the Naked Shorts are traded among brokers when reporting time is due. In any case since its an unknown and not predictable if they would cover on a stock run.
The Bellevue is a very exciting subject and the reason it was first choice to drill. Many professionals that have examined the seismic data have arrived at different estimates. They are all of the feeling there is oil there but the estimates range from higher then disclosed to one hell of a lot higher. I have no idea who is right but it will be fun and most enriching to see
I don't think the numbers of the rights offering were available till today and maybe not till Monday because there is a 3 day grace period for the rights offering to be returned. They are coming from all over the globe from different brokers accounts. We won't know how many untended shares are available and until they are we have to wait for the count.
Positive is the only logical way to stay. There was a slight interruption to our plans by an election of the governing body. The 21st of April, this coming Wednesday is the day the new people are sworn in and we resume our move forward toward drilling. Its coming!
The potential income from the Flare Gas Tech is so high it can't be estimated. Its greater then all the oil in Tasmania and the cost to EEGC is minimal because we license it all over North and South American. Its almost all profit because we get a piece of the profits + license fees. In this case we get the royalty rather then paying it. Every year the money comes in. Don't cha just hate it when you get paid for doing nothing.
Once again Jim you hit the ball out of the park. Excellent post and I agree 100%.
Once we strike oil I would think EEGC will reinstate the lease application for the offshore exploration. With that in place and the prospects of the Flare gas Nanotechnology we are a multi faceted company with huge potential to return enormous capital gains.
The general public has no idea of the value of the Flare Gas Tech or even what it does. More information will be available in the months ahead. For the moment Flare Gas Tech captures the waste gas and turns it into money.
Good time ahead so stay tuned.
Great post jim...You nailed it. There are still people out there trying to discredit Malcolm and the exceptional job he is doing. With all of the adverse conditions that have faced Empire Energy Malcolm and the staff of Empire came shinning through to a point we will start drilling multiple wells starting very soon.
Yes I did leave out a lot otherwise I would be typing all night. But that is the general jist of it.
The stock value is only worth something by the amount of product they can sell. That product happens to be hydrocarbons, (Oil, gas, coal/methane and license fees for Flare gas nanotechnology). If you have a share thats worth a few cents with out product and if you double that share you have 1/2 as much. so 4 cents is 2 cents. Where is the value in investing in something like that. However, if that same share were to be worth $100 then its $50 each share. at that time it has worth and is a nice return on the 4 or 2 cent investment.
Your other post about you not understanding why they didn't fix the problem. They did and continued to fix it. When they filed for the rights offering they file with the SEC. The SEC doesn't oppose a filing but in the interest of clarity and full disclosure they do ask questions. They are a government agency and they don't do anything fast. Every time they ask a question it was answered but not by the company administration but by a Lawyer Representing the company. That's the way its done. Try not to use logic with the SEC, it doesn't work too well. After the SEC is satisfied they give the OK to go ahead, and they did. Each time a change in the prospectus is made a new updated filing is required.
Pottsee: GSLM is a wholly owned subsidery of Empire Energy, (EEGC)
On another subject concerning EEGC is the political process in Tasmania. While the election results does affect EEGC license only in a way that it is a procedure to obtain a license and that procedure is the same no matter who is elected, and since that is the case the subject of this board is EEGC and not the Government of Tasmania or Australia. We also don't discus the United states government even though the headquarters is in Kansas.
Right now the outstanding share count doesn't matter. If and when we strike oil which is what matters, the share count won't mean a thing. I believe you will see the stock price fly. How high depends on how much oil/gas/coal-methane we come up with. This stock is considered a gamble up till the time we strike oil. Then its no longer a gamble.
There is a lot to report, but first things first. Lets get possession of the lease, then we go from there.
That's your opinion. I doubt you can speak for Shell oil. 10 years ago EEGC was beginning to do some Seismic research and The land was a good place to inventory for the future and the best way to get the land was to go for a license from MRT. The cost is minimal but what the big oil companies come to find out that the locals got preference. EEGC is a U.S. company and GSLM was the local. Malcolm ends up buying GSLM and he wasn't about to sell what he just bought. There was plenty of exploration funding available back then. The cash crisis only developed over the last few years. There was more evidence of oil buy the surface oil pools. What they didn't know but what was suspected was the commercial value of the oil. There are people employed by EEGC that are top notch in the oil business and they are all of the belief there is large deposits of oil in Tasmania. Where we are today we are about to drill and make a lot of dreams come true. Its old news that Mr Mark Callaway came aboard and saw the seismic results and was elated with what he saw. He compared it with a 30 billion barrel discovery when he was with Shell oil and said Empires was bigger. We are about to find out.
I now know the tie in Between Mr. Ruut and EEGC. Its seems that Shell oil paid Mr. Ruut to bring down Empire Energy some 10 years ago because Shell wanted the property. If this is indeed fact then I think the property is worth even more then we all thought. If Shell oil is interested in the property and I am sure they must have researched, then what do they know that we don't. My guess is they both believe the same and we have a fantastic company and more credit to Malcolm Bendall for standing up to the pressures of such a person.
From the newspaper report it looks like Mr. Ruud will receive his sentence on April 28th. I hope its as severe as possible.
Authorized shares 600,000,000
Outstanding shares before rights offering = 274,816,564
Outstanding shares after rights offering = 412,224,846
I do not know the float but many shares are held by insiders and not traded.
I have a problem with the political aspects of the past few posts. Who ever gets to be the ruling party will have an effect on the operation of EEGC, however, its political and EEGC is in the oil business, therefore I am deleting any and all political posts as off topic. Lets stick to the operational posture of Empire Energy and stay on topic.
The rights offering is still ongoing and I have no idea what Malcolm Bendall did or is doing. You can contact him and maybe he will tell you. From his past PRs he said he would pick up the slack and I have no reason to believe otherwise.
The important thing to remember is there were NO COMMENTS registered in the comment period.
Its a shoe in and just a matter of time for the paper work to follow.
DISCLAIMER: I am not now nor have I ever been an employee of this company or its wholly owned sub, I have never been paid for any service nor have I ever been contacted to perform any service.
We spent the money developing all of the domes and were denied access to them. MRT wants us to spend the funding on the two most promising sites and I can see their point but the fact we are entitled to the entire dome sites and not a portion. now with new leadership I believe the company will continue to get the removed sites reinstated. MRT wants and need the revenue from the sale of hydrocarbons and we are happy to pay but we should not be forced to focus on a portion of the sites we paid to develop.
Don't count on a short squeeze on KATX. It can happen but its most unlikely. Shorting penny stocks in the U.S. is prohibited by the retail trade and only Brokers, Funds, MMs and institutions can short pennies. If the stock rises the MMs don't deliver because they trade between themselves and extend the delivery date by as long as it takes for the stock to fall and in the case of non borrowed stocks (naked shorts) they just don't cover.
Terra Energy & Resource Technologies to Explore Pertamina's Oil & Gas Block in Indonesia -- a Service Contract Signed for a STeP
Date : 04/12/2010 @ 7:00AM
Source : GlobeNewswire Inc.
Stock : Terra Energy & Resource Technologies, Inc. (TEGR)
Quote : 0.104 -0.001 (-0.95%) @ 8:30AM
Terra Energy & Resource Technologies to Explore Pertamina's Oil & Gas Block in Indonesia -- a Service Contract Signed for a STeP
NEW YORK, April 12, 2010
GLOBE NEWSWIRE
Terra Energy & Resource Technologies, Inc. (OTCBB:TEGR), a natural resource exploration technology company, announces the service contract for the analysis of an onshore license block controlled by Pertamina, an Indonesian state-owned oil and gas company. The agreement was signed with Pertamina's service contractor PT. Wahana Petranusa.
Terra Energy & Resource Technologies will receive cash fees for providing exploration services using its proprietary STeP® technology in connection with a large license block located in Sumatra, Indonesia to determine and delineate areas of oil and gas prospectivity.
"Indonesia is a recognized oil and gas producing country, and our entry into the Indonesian exploration market is a significant milestone for the Company. Pertamina is one of the largest oil and gas companies in the world and is the most profitable state company in Indonesia," said Dr. Alexandre Agaian, Terra Energy & Resource Technologies' President. "There were several recent unsuccessful drilling attempts on this license block, and Terra is excited to take on the challenge of exploration where traditional methods failed."
"PT. Wahana Petranusa and Pertamina recognize the value of Terra's technologies and are using this contract as a pilot," said Dmitry Vilbaum, Terra Energy & Resource Technologies' Chief Executive Officer. "We are confident that this contract will open other doors within Pertamina and the country of Indonesia."
About Terra Energy & Resource Technologies, Inc.
Terra Energy & Resource Technologies, Inc., through its subsidiary Terra Insight Services, Inc., provides mapping and analysis services for exploration, drilling, and mining companies related to natural resources found beneath the surface of the Earth. The Company uses a suite of innovative and efficient technologies, which facilitate the prediction and location of commercially viable deposits of hydrocarbons, gold, diamonds, and other natural resources, and assesses them for any given geographic area -- on or offshore. For more information, visit http://www.terrainsight.com.
Safe Harbor for Forward-looking Statements
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause the Company's expectations and beliefs about its operations, its plans to acquire interests in exploration properties or technologies, plans to drill or drilling results to fail to materialize, including, but not limited to: competition for new acquisitions; availability of capital; unfavorable geologic conditions; prevailing prices for oil, natural gas and other natural resources; and general regional economic conditions.
CONTACT: Terra Energy & Resource Technologies, Inc.
212-286-9197
info@terrainsight.com
Excellent question! I just don't know. All of the research and work by MRT was done by the previous administration and the Director of Mining has already stated he was recommending the lease. I have heard that when the comment period runs out the lease becomes effective. But as I said I just don't know. We will soon find out though.
The drilling will start as soon as they can get all the conditions required together. An exact date or time is a pure guess and I have never been on target with timing.
It looks like we will have 2 drill rigs to work Bellevue and Thunderbolt.
Once we hit oil and I have no doubt we will, I expect investors will be lined up around the block to engage in a joint venture with Empire Energy.
But first things first,lets strike oil.
Malcolm has been putting in long nights making sure everything will flow so all the materials and supplies will be available. Coordinate the delivery of food to feed the workers, Transportation to and from the site, Supplies for the drill rigs, getting the rigs to the sites and thats just the preperation to drill, in addition when we strike oil we need to arrange for tanker trucks to collect the oil from storage tanks and transport the oil to a shipping port where storage tanks will house the oil till tanker ships can move the oil to a refinery. In the event we strike Natural gas that will be handled differently. Hooking up to the existing pipe line will be required. Its all happening right now.
Ok. Then don't, There has to be a starting point and that is the published statement.
Tomorrow is when the 28 day comment period expires and leaves open the door for the delivery of the license.
Unless you have the certificates in your possession then the company doesn't have your address and you won't be getting one. You can down load it from the website. Its exactly the same report.
I agree with everything you said but your picking on wording. Filing as I see it is published by the company, which they did.
The reporting by a pink sheet company is up to the company, some do report and some don't.
The statement that a public company posts is fact until disputed.
You are fighting a loosing battle and is not with me but with the company.
I don't dispute their published statement and if you do its with the company. If you can disprove their statement then present it here and it will be open for further debate. Till then there is nothing I can do.
I published what they said just as your statement was published and I don't dispute what you say. The ball is in your court, what would you have me do?
It is not misleading in any way shape or form. It is a standard process used by all Pink Sheet companies. You object and that's fine but its not out of the norm and its a statement of the company. Its a fact they stated and not me. Since they published it, its for all to see. The value of it is up to the reader. If you question the results call the company.
That's true but that recent report is originated from the company and therefore they are responsible for the content. It does not have to be audited nor filed with the SEC to be correct. Most OTC pink sheet reports are not audited.PCSO.PK is not required to file.
As long as posters adhere to the rules there is no reason for the posts to be deleted.
I will not post opinions only verified facts. As far as posting your opinion go right ahead, nobody is stopping you. Accurate data is for the IBOX.
I make no decision for anyone. I don't want people to use this board as a short cut for research. The postings in the IBOX were slanted. DD requires people to make phone calls to brokers and to the company. If they can't get answers they should not invest. I have not posted my opinion in the IBOX and I don't want any other opinion there as well. Facts are the only thing that matters and right now facts are limited. Don't be so concerned with the rest of the investment public just take care of your own investments. I am not the designated teacher of the new investors. Its their money and I don't tell people what to do with it.
I am not concerned with new investors. If they fail to do their own DD then its their problem. I have no further downside and only upside. If it comes then so be it and if it don't, well I already know my losses.
In my opinion EEGC is shorted big time. Next week when you see a flood of covering I think you will see why I believe there are mucho shorts. I don't know how many are naked, but I think we will see masive covering next week and additionally with drilling and if we strike oil.
I know as much as you do. We only have upside from here. It costs us no more money then we have already spent and the up side is anything positive.
So I wait to see what develops. At least they are filing and that's positive.
EEGC for me lucy thanks
I believe a lot of questions will be answered starting next week and throughout April. I expect several Press releases after April 13th. I know its tough as we get down to the wire but we all need to have a little more patience.
That's not at all true. What is true is that they have total control over the company and not the common shareholders. they get no dividends as preferred holders only voting power so nobody can come in and pull a fast one. Its good for the shareholders in my opinion. If there is a dividend they will get their share as a common stock holder but they will not rape the shareholders and prevent them from receiving dividends. They are doing the work and they deserve control.
What do you mean by protect your investment?
Money in your account is protected up to $250,000 and maybe more by seperate insurance depending on the broker. The stock value is NOT protected and you are at risk no matter what the stock be it on line or not. You are protected in the fact you have the amount of shares in your account. I suggest you talk to your broker for a better understanding on how the market works and the rules and regulations of trading. Each Broker has their own set of rules.