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An agreement with MRT had EEGC give up the least potentially productive sites. Michael Roberts took it over and used the very scientific method of the divining rod to locate the drilling spot. Oops it didn't work. That doesn't mean that there is no oil there. Our new method to detect oil and I am sure will be used by others is to wet your index finger and check the direction of the wind. if you see an eagle don't drill. If you don't then what the hell go for it.
Expiration of the rights offering as of this moment is as follows:
First 30 day period which has been extended to April 12th for all eligible for the rights offering.
Second 30 day period will begin after April 12th and expires May 12th.
That is as of right now and may change.
Just 3 business days to get out of the way and we should move up nicely.I think we will see the stock continue to trickel up as we come in sight of April 13th. this is going to be a very long week end waiting for it to end and we get to Monday. Good luck longs I see the potential of money at the end of the tunnel.
Terra Energy & Resource Technologies Gains a Market Partner in South America
Date : 04/07/2010 @ 9:07AM
Source : GlobeNewswire Inc.
Stock : Terra Energy & Resource Technologies, Inc. (TEGR)
Quote : 0.095 0.0 (0.00%) @ 8:17AM
Terra Energy & Resource Technologies Gains a Market Partner in South America
NEW YORK, April 7, 2010
GLOBE NEWSWIRE
Terra Energy & Resource Technologies, Inc. (OTCBB:TEGR), a natural resource exploration technology company, announces today that the Company is expanding its oil and gas exploration services offering in South America by signing a market partner agreement with Solvex S.A., an Argentine consulting firm. The contract sets forth a market partner framework between the companies, granting Solvex certain rights in connection with the sales and marketing of the Terra exploration services in South America.
"Solvex is a strong local partner, knowledgeable in the South American oil and gas landscape. Solvex has already presented Terra with several opportunities for projects in Argentina, Peru, and Colombia, quickly demonstrating to us the professionalism and understanding of the local business community," said Dmitry Vilbaum, Chief Executive Officer of Terra Energy & Resource Technologies. "We have recently met with one of Solvex principals, and we are encouraged that our existing services network in other countries is complemented by Solvex," Dmitry added.
Dr. Alexandre Agaian, Terra Energy & Resource Technologies' President, noted that the South American exploration and production industry is large due to the continent being rich in oil and gas as well as mineral resources. Dr. Agaian also stated: "We plan on visiting Argentina as well as other neighboring countries in April or May of 2010 to present our innovative exploration capabilities to potential clients, introduced to us by Solvex. Solvex is a supporter of Terra's technologies; its recognition of the value Terra brings to the exploration process helps to grow the companies' relations rapidly."
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 services and service offerings, 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
WORTH A REPOST!
Mineral Resources Tasmania Formally Advertises 785,795 Acre Exploration License 14/2009 for Great South Land Minerals/Empire Energy, A Required Step Closer to Minister's Issuance, Expected 13 April 2010.
State-of-the-Art Drill Rig Coming Off Production Line.
Rights Offer 30 Day Extension Submitted to SEC.
Special Exploration License 13/2009 Re-Submitted.
Press Release Source: Empire Energy Corporation International On Wednesday March 17, 2010, 11:31 am EDT
LEAWOOD, Kan., March 17 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire) (OTC Bulletin Board:EEGC.ob - News) announced on Wednesday, March 17th 2010 that the Director of Mines for Tasmania has publically advertised in Australia's Mercury and Examiner newspapers, his recommendation for the issuance of Exploration License 14/2009 to Empire's wholly owned subsidiary, Great South Land Minerals, Ltd. (GSLM). This represents one of the final steps in the statutory process required for the Minister of Energy and Resources to formally issue GSLM the exploration license for 3,180 sq kilometers (785,795 acres) on or about April 13th 2010, at the close of a mandated 28-day public notice objection period. Empire expects no objections will be raised, as per statutory requirements, only persons "claiming an estate or an interest in any land within the area advertised" may lodge an objection and therefore believes the license will be promptly issued on or about April 13th 2010.
The advertised license area encompasses 3,180 square kilometers (approx. 785,795 acres) and covers the company's two most valuable structures, Bellevue and Thunderbolt. These two seismically defined structures are estimated by internationally recognized oil and gas Competent Persons firm, RPS Energy Pty Limited, to contain a combined mean estimate of 447 million barrels of oil (refer: Table 2 of Competent Persons Report – Assets of GSLM, October 2008). RPS Energy calculated this figure based on their own independent analysis of geological data obtained from GSLM's US$50.71 million (AUD$56 million) research investment over the past 33.3 years.
Additionally, one of Australia's leading accountancy firms, has valued the undiscovered potential resources believed to exist within these two structures at US$2.23 billion (AUD$2.48 billion). This value was derived by discounting the then current US$70 per barrel (AUD$80 per barrel) market price of oil down to US$5 per barrel. The discount was based on the comparative value between the land within which GSLM's seismically defined structures lie and the sale value of land on the Australian mainland market containing similar potential for and quantities of undiscovered prospective resources. Ultimately however, at today's market value of US$80 per barrel (AUD$89 per barrel), this asset represents a gross potential value today of US$35.76 billion (AUD$39.78 billion).
The advertised license area represents nearly a 50% reduction from GSLM's original 7,513 square kilometer (1,856,502 acres) application. As a result, Empire and GSLM are vigorously pursuing all available options and have asked the Minister for Energy and Resources to restore the full area as originally applied for, pursuant to the contractual terms of Special Exploration License 13/1998 between Mineral Resources Tasmania (MRT) and GSLM. These terms, detailed in a letter from former Deputy Premier Paul Lennon of 23 December 1998 states "at the end of the licence period, the more prospective areas must be converted to exploration licences with appropriate conditions, if continued tenure is required." This excluded area contains 10 additional seismically defined structures believed to contain a further potential of 222 million barrels of oil (refer: Table 2 of Competent Persons Report – Assets of GSLM, October 2008). This undiscovered potential resource could be worth an additional US$17.74 billion (AUD$19.73 billion).
Today's advertisement of the reduced area for Exploration License 14/2009 highlights Mineral Resources Tasmania's (MRT) failure to honor its prior agreement of 21 December 2009. Under the agreement, if Empire/GSLM agreed to withdraw its Special Exploration License 13/2009, MRT would agree to recommend the entire area of Exploration License 14/2009 for issuance to the Minister. As a result of the government reneging, Empire has asked for the reinstatement of its application for Special Exploration License 13/2009 covering 12,040 square kilometers (2,975,149 acres) of eastern Tasmania.
While Empire's Rights Offer Transfer Agent has alerted the Company it is in receipt of re-subscription notices from a number of shareholders, due to unforeseen international shipping delays, a substantially large number of shareholders are still without their Rights Offer re-subscription documents. To ensure all of Empire's eligible shareholders have an equal opportunity and adequate time to re-subscribe, Empire has submitted to the US Securities and Exchange Commission (SEC) notice of a 30 days extension to the closing date of the Rights Offer. Eligible shareholders are advised that with the extension, existing certificates will be accepted through a new closing date of April 12th.
Empire is furthermore in the process of acquiring a state-of-the-art 15,000 foot hydraulic drilling rig straight off the production line. The new rig will finish production and will be ready to ship to Tasmania soon.
Empire CEO Malcolm Bendall stated, "It has been a long and arduous journey to this point and I thank our shareholders and employees for their steadfast support. Today's news launches Empire to the verge of an extraordinary confluence of events. Over the coming weeks, we are poised to make unprecedented progress in advancing the development and commercialization of oil and gas in the Tasmanian Basin. Our company's current market capitalization and share price are 200 times less than the current asset value of US$2.23 billion (AUD$2.48 billion) comparative market value. I don't expect for this disparity in value to continue much longer. The license is proceeding, the new drill rig is poised to be transported and oil and gas is on the way!"
Empire Energy Corporation 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 contains 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 International, please refer to 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission.
Contact:
Malcolm Bendall
Empire Energy Corporation International
+1-913-663-2310
Good morning: Only 6 business days left for the comment period and then MRT will provide us with a ticket to front row seats at the races. Watch the stock price closely.
Online Defamation Law
The Bloggers' FAQ on Online Defamation Law provides an overview of defamation (libel) law, including a discussion of the constitutional and statutory privileges that may protect you.
What is defamation?
Generally, defamation is a false and unprivileged statement of fact that is harmful to someone's reputation, and published "with fault," meaning as a result of negligence or malice. State laws often define defamation in specific ways. Libel is a written defamation; slander is a spoken defamation.
What are the elements of a defamation claim?
The elements that must be proved to establish defamation are:
1. a publication to one other than the person defamed;
2. a false statement of fact;
3. that is understood as
* a. being of and concerning the plaintiff; and
* b. tending to harm the reputation of plaintiff.
4. If the plaintiff is a public figure, he or she must also prove actual malice.
Is truth a defense to defamation claims?
Yes. Truth is an absolute defense to a defamation claim. But keep in mind that the truth may be difficult and expensive to prove.
Can my opinion be defamatory?
No—but merely labeling a statement as your "opinion" does not make it so. Courts look at whether a reasonable reader or listener could understand the statement as asserting a statement of verifiable fact. (A verifiable fact is one capable of being proven true or false.) This is determined in light of the context of the statement. A few courts have said that statements made in the context of an Internet bulletin board or chat room are highly likely to be opinions or hyperbole, but they do look at the remark in context to see if it's likely to be seen as a true, even if controversial, opinion ("I really hate George Lucas' new movie") rather than an assertion of fact dressed up as an opinion ("It's my opinion that Trinity is the hacker who broke into the IRS database").
What is a statement of verifiable fact?
A statement of verifiable fact is a statement that conveys a provably false factual assertion, such as someone has committed murder or has cheated on his spouse. To illustrate this point, consider the following excerpt from a court (Vogel v. Felice) considering the alleged defamatory statement that plaintiffs were the top-ranking 'Dumb Asses' on defendant's list of "Top Ten Dumb Asses":
A statement that the plaintiff is a "Dumb Ass," even first among "Dumb Asses," communicates no factual proposition susceptible of proof or refutation. It is true that "dumb" by itself can convey the relatively concrete meaning "lacking in intelligence." Even so, depending on context, it may convey a lack less of objectively assayable mental function than of such imponderable and debatable virtues as judgment or wisdom. Here defendant did not use "dumb" in isolation, but as part of the idiomatic phrase, "dumb ass." When applied to a whole human being, the term "ass" is a general expression of contempt essentially devoid of factual content. Adding the word "dumb" merely converts "contemptible person" to "contemptible fool." Plaintiffs were justifiably insulted by this epithet, but they failed entirely to show how it could be found to convey a provable factual proposition. ... If the meaning conveyed cannot by its nature be proved false, it cannot support a libel claim.
This California case also rejected a claim that the defendant linked the plaintiffs' names to certain web addresses with objectionable addresses (i.e. www.satan.com), noting "merely linking a plaintiff's name to the word "satan" conveys nothing more than the author's opinion that there is something devilish or evil about the plaintiff."
Is there a difference between reporting on public and private figures?
Yes. A private figure claiming defamation—your neighbor, your roommate, the guy who walks his dog by your favorite coffee shop—only has to prove you acted negligently, which is to say that a "reasonable person" would not have published the defamatory statement.
A public figure must show "actual malice"—that you published with either knowledge of falsity or in reckless disregard for the truth. This is a difficult standard for a plaintiff to meet.
Who is a public figure?
A public figure is someone who has actively sought, in a given matter of public interest, to influence the resolution of the matter. In addition to the obvious public figures—a government employee, a senator, a presidential candidate—someone may be a limited-purpose public figure. A limited-purpose public figure is one who (a) voluntarily participates in a discussion about a public controversy, and (b) has access to the media to get his or her own view across. One can also be an involuntary limited-purpose public figure—for example, an air traffic controller on duty at time of fatal crash was held to be an involuntary, limited-purpose public figure, due to his role in a major public occurrence.
Examples of public figures:
* A former city attorney and an attorney for a corporation organized to recall members of city counsel
* A psychologist who conducted "nude marathon" group therapy
* A land developer seeking public approval for housing near a toxic chemical plant
* Members of an activist group who spoke with reporters at public events
Corporations are not always public figures. They are judged by the same standards as individuals.
What are the rules about reporting on a public proceeding?
In some states, there are legal privileges protecting fair comments about public proceedings. For example, in California you have a right to make "a fair and true report in, or a communication to, a public journal, of (A) a judicial, (B) legislative, or (C) other public official proceeding, or (D) of anything said in the course thereof, or (E) of a verified charge or complaint made by any person to a public official, upon which complaint a warrant has been issued." This provision has been applied to posting on an online message board, Colt v. Freedom Communications, Inc., and would likely also be applied to blogs. The California privilege also extends to fair and true reports of public meetings, if the publication of the matter complained of was for the public benefit.
What is a "fair and true report"?
A report is "fair and true" if it captures the substance, gist, or sting of the proceeding. The report need not track verbatim the underlying proceeding, but should not deviate so far as to produce a different effect on the reader.
What if I want to report on a public controversy?
Many jurisdictions recognize a "neutral reportage" privilege, which protects "accurate and disinterested reporting" about potentially libelous accusations arising in public controversies. As one court put it, "The public interest in being fully informed about controversies that often rage around sensitive issues demands that the press be afforded the freedom to report such charges without assuming responsibility for them."
If I write something defamatory, will a retraction help?
Some jurisdictions have retraction statutes that provide protection from defamation lawsuits if the publisher retracts the allegedly defamatory statement. For example, in California, a plaintiff who fails to demand a retraction of a statement made in a newspaper or radio or television broadcast, or who demands and receives a retraction, is limited to getting "special damages"—the specific monetary losses caused by the libelous speech. While few courts have addressed retraction statutes with regard to online publications, a Georgia court denied punitive damages based on the plaintiff's failure to request a retraction for something posted on an Internet bulletin board. (See Mathis v. Cannon)
If you get a reasonable retraction request, it may help you to comply. The retraction must be "substantially as conspicuous" as the original alleged defamation.
What if I change the person's name?
To state a defamation claim, the person claiming defamation need not be mentioned by name—the plaintiff only needs to be reasonably identifiable. So if you defame the "government executive who makes his home at 1600 Pennsylvania Avenue," it is still reasonably identifiable as the president.
Do blogs have the same constitutional protections as mainstream media?
Yes. The US Supreme Court has said that "in the context of defamation law, the rights of the institutional media are no greater and no less than those enjoyed by other individuals and organizations engaged in the same activities."
What if I republish another person's statement? (i.e. someone comments on your posts)
Generally, anyone who repeats someone else's statements is just as responsible for their defamatory content as the original speaker—if they knew, or had reason to know, of the defamation. Recognizing the difficulty this would pose in the online world, Congress enacted Section 230 of the Communications Decency Act, which provides a strong protection against liability for Internet "intermediaries" who provide or republish speech by others. See the Section 230 FAQ for more.
The vast weight of authority has held that Section 230 precludes liability for an intermediary's distribution of defamation. While one California court had held that the federal law does not apply to an online distributor's liability in a defamation case, the case, Barrett v. Rosenthal, was overturned by the California Supreme Court (EFF filed an amicus brief in this case)
Can I get insurance to cover defamation claims?
Yes. Many insurance companies are now offering media liability insurance policies designed to cover online libel claims. However, the costs could be steep for small blogs—The minimum annual premium is generally $2,500 for a $1 million limit, with a minimum deductible of $5,000. In addition, the insurer will conduct a review of the publisher, and may insist upon certain standards and qualifications (i.e. procedures to screen inflammatory/offensive content, procedures to "take down" content after complaint). The Online Journalism Review has an extensive guide to libel insurance for online publishers.
Will my homeowner's or renter's insurance policy cover libel lawsuits?
Maybe. Eugene Volokh's the Volokh Conspiracy notes that homeowner's insurance policies, and possibly also some renter's or umbrella insurance policies, generally cover libel lawsuits, though they usually exclude punitive damages and liability related to "business pursuits." (This would generally exclude blogs with any advertising). You should read your insurance policy carefully to see what coverage it may provide.
What's the statute of limitation on libel?
Most states have a statute of limitations on libel claims, after which point the plaintiff cannot sue over the statement. For example, in California, the one-year statute of limitations starts when the statement is first published to the public. In certain circumstances, such as when the defendant cannot be identified, a plaintiff can have more time to file a claim. Most courts have rejected claims that publishing online amounts to "continuous" publication, and start the statute of limitations ticking when the claimed defamation was first published.
What are some examples of libelous and non-libelous statements?
The following are a couple of examples from California cases; note the law may vary from state to state. Libelous (when false):
* Charging someone with being a communist (in 1959)
* Calling an attorney a "crook"
* Describing a woman as a call girl
* Accusing a minister of unethical conduct
* Accusing a father of violating the confidence of son
Not-libelous:
* Calling a political foe a "thief" and "liar" in chance encounter (because hyperbole in context)
* Calling a TV show participant a "local loser," "chicken butt" and "big skank"
* Calling someone a "bitch" or a "son of a bitch"
* Changing product code name from "Carl Sagan" to "Butt Head Astronomer"
Since libel is considered in context, do not take these examples to be a hard and fast rule about particular phrases. Generally, the non-libelous examples are hyperbole or opinion, while the libelous statements are stating a defamatory fact.
How do courts look at the context of a statement?
For a blog, a court would likely start with the general tenor, setting, and format of the blog, as well as the context of the links through which the user accessed the particular entry. Next the court would look at the specific context and content of the blog entry, analyzing the extent of figurative or hyperbolic language used and the reasonable expectations of the blog's audience.
Context is critical. For example, it was not libel for ESPN to caption a photo "Evel Knievel proves you're never too old to be a pimp," since it was (in context) "not intended as a criminal accusation, nor was it reasonably susceptible to such a literal interpretation. Ironically, it was most likely intended as a compliment." However, it would be defamatory to falsely assert "our dad's a pimp" or to accuse your dad of "dabbling in the pimptorial arts." (Real case, but the defendant sons succeeded in a truth defense).
What is "Libel Per Se"?
When libel is clear on its face, without the need for any explanatory matter, it is called libel per se. The following are often found to be libelous per se:
A statement that falsely:
* Charges any person with crime, or with having been indicted, convicted, or punished for crime;
* Imputes in him the present existence of an infectious, contagious, or loathsome disease;
* Tends directly to injure him in respect to his office, profession, trade or business, either by imputing to him general disqualification in those respects that the office or other occupation peculiarly requires, or by imputing something with reference to his office, profession, trade, or business that has a natural tendency to lessen its profits;
* Imputes to him impotence or a want of chastity.
Of course, context can still matter. If you respond to a post you don't like by beginning "Jane, you ignorant slut," it may imply a want of chastity on Jane's part. But you have a good chance of convincing a court this was mere hyperbole and pop cultural reference, not a false statement of fact.
What is a "false light" claim?
Some states allow people to sue for damages that arise when others place them in a false light. Information presented in a "false light" is portrayed as factual, but creates a false impression about the plaintiff (i.e., a photograph of plaintiffs in an article about sexual abuse, because it creates the impression that the depicted persons are victims of sexual abuse). False light claims are subject to the constitutional protections discussed above.
What is trade libel?
Trade libel is defamation against the goods or services of a company or business. For example, saying that you found a severed finger in you're a particular company's chili (if it isn't true).
EEGC my pick for the week
Thanks lucy
Empire Energy can be a big help for the future of Australia. A Nations security is predicated on how well it can defend itself, they need and maintain armed forces. The mobility of the armed forces depends on oil/gasoline to propel their airforce, and ships, tanks, & trucks. EEGC is in a position to add to the security of Australia and with the harvesting of hydrocarbons. Its a perfect refueling station for their allies and their own forces. In addition Tasmania receives 12% of the gross proceeds from the sale of all the hydrocarbons. These funds will go toward improving the life style of all the residences. It will create many new jobs and business to support the operations. The future looks bright and you need not be a shareholder to benefit.
EEGC hired the best in the business for an evaluation of the hydrocarbons in Bellevue and Thunderbolt. RPS Energy Pty Limited is part of a huge company that has more then 5,000 employees all over the world. they know the oil business. They estimate that up to 360 wells will be needed to drain the oil in the Bellevue dome each well covering approx 40 acres. It could take up to 30 years to drain the dome.
The Thunderbolt dome is smaller and it is anticipated it will need up to 74 wells to drain the dome over a 30 year period with each well covering approx 40 acres. The party starts very soon, on or about the 13th of April as that is the time we have completed the comment period and MRT will deliver the license. Watch the Price Per Share around the 13th of April start to rise ans more and more people want a piece of the action. The real profits will fall on the long term holders as the company expands.
There is more to EEGC then a pretty face. The company has the rights to Flare Gas Nanotechnology that worth a bundle in its own right. The future looks bright as we continue to grow with coal/methane and offshore oil/gas exploration. the future is bright, join us for the ride.
There are 7 business days remaining till the 13th of April when the lease will become a reality. At that time several things will begin to move. Its getting exciting and the people that are trying to ouster Malcolm are getting desperate. Never fear, we have a great leader and even now is working hard to get us oil. These are the best of times and results will follow. We are in good favor with the new government and I expect we will retrieve the missing domes very soon. There are many stories yet to be told and when they are told there will be many surprises.
EEGC General information of interest:
( Taken from the RPS Energy report )
The Bellevue and Thunderbolt Prospects are located relatively close to infrastructure such as sealed roads, deep water ports and shipping lanes while transport distances or pipeline lengths are approximately 150km to the north coast of Tasmania. RPS has included an 18 inch pipeline for Bellevue and a 12 inch pipeline for Thunderbolt which will transport the oil 150km to a custody transfer terminal in northern Tasmania, near Devonport, for tanker transport to refinery.
Part 2:
As you all know EEGC hired RPS Energy
to evaluate Thunderbolt and Bellevue prospects in SEL-13/98.
The following is taken word for word from the report:
2.3.2 Thunderbolt Assumptions
The Thunderbolt Prospect contains a Mean Case Prospective Resource volume of 88 MMstb in the Gordon Limestone. Assuming the Thunderbolt Prospect contains a medium gravity crude of approximately 30 deg API with a moderate water drive, an average drainage area per well is expected eo be 40 acres. Therefore, using the mean area of the reservoir of 12 Sq Km, 74 vertical wells are required to drain the reservoir, equivalent to 1.2 MMstb per well.
Initial production rate per well is expected to be 875 stb/day declining at 24% per annum with a 10% downtime. This will recover the Prospective Resource volume in less than 30 years. An average gas-oil ratio of 200 scf/stb is assumed over the life of the project. This gas will be utilised as fuel gas to power facilities and artificial lift and remain cash neutral over the life of the project.
As you all know EEGC hired RPS Energy to evaluate Thunderbolt and Bellevue prospects in SEL-13/98.
The following is taken word for word from the report:
2.3.1 Bellevue Assumptions
The Bellevue Prospect contains a Mean Case Prospective Resource volume of 359 MMstb (un-risked) in the Upper and Lower Units of the Gordon Limestone. Assuming the Bellevue prospect contains a medium gravity crude of approximately 30 deg API with a moderate water drive, an average drainage area per well is expected to be 40 acres. Therefore, using the mean area of the reservoir of 58 sq km, 360 vertical wells are required to drain the reservoir, equivalent to 1.0 MMstb per well.
Initial production rate per well is expected to be 910 stb/day declining at 30% per annum with a 10% downtime. this will recover the Prospective Resource volume in less than 30 years. An average gas-oil ratio of 200 scf/stb is assumed over the life of the project. this gas will be utilised as fuel gas to power facilities and artificial lift and remain cash neutral over the life of the project.
Viper Networks (VPER) Appoints Highly Regarded Chairman of the Board
Date : 03/31/2010 @ 12:15PM
Source : MarketWire
Stock : Viper Networks, Inc. (VPER)
Quote : 0.008 0.0001 (1.27%) @ 4:25PM
Viper Networks (VPER) Appoints Highly Regarded Chairman of the Board
TROY, MI -- (Marketwire)
03/31/10
Viper Networks, Inc. (PINKSHEETS: VPER), a fast emerging telecommunication network operations and technical management company, is pleased to announce the appointment of Thiruneelakanda Sellathuray, as Chairman of the Board for Viper Networks with an initial two year term.
In 2006, Mr. Thiruneelakanda Sellathuray received the distinguished Award for Most Promising Young Entrepreneur from the Global Organization of People of Indian Origin (GOPIO). This highly prestigious award was personally presented by Malaysia's Minister of Works, Mr. YB Dato' Seri Samy Vellu.
As the founder of Sithru (Malaysia) Sdn Bhd, Mr. Thiruneelakanda Sellathuray has been directly responsible for undertaking major infrastructure projects in India, Indonesia, Sri Lanka, Ghana and Sudan; encompassing Water treatment plants, Railroad tracking, Highway infrastructure and Housing developments.
Under his leadership, today the Sithru (Malaysia) Sdn Bhd company has numerous subsidiaries, including: Sithru Enviromental & Technology (Malaysia) Sdn Bhd, Sithru (Malaysia) Private Ltd Sri Lanka, Sithru Lanka Private Limited Sri Lanka, Sithru Developer & Contractor
Private Ltd Sri Lanka, Global Advance Technology Limited London, Credence Capital Ltd (British Virgin Islands) and Monzanite Finance Limited (Dubai).
Prior to starting his own company, Thiruneelakanda Sellathuray was a quantity surveyor with Sepakat Setia Perunding (SSP), a leading Engineer Consulting firm headquartered in Kuala Lumpur, Malaysia. Mr. Thiruneelakanda Sellathuray received his Quantity Surveyor Degree from the city and guilds of London Institute in England and was awarded a U.S. Postgraduate Degree of Master of Business Administration from Fredrick Taylor University in California.
President of Viper Networks, Inc., Mr. Farid Shouekani, states: "As an accomplished corporate leader and infrastructure developer globally, Mr. Thiruneelakanda Sellathuray's impressive credentials, proven leadership and successes in both the private and public sectors, are directly aligned with the key market expansion regions for Viper Networks' primary telecommunications services market."
Mr. Shouekani, concludes: "This vital Chairman of the Board announcement follows several top executive position fulfillments announced over the last six months, and will also serve to guide multiple funding transactions from Mr. Thiruneelakanda Sellathuray's subsidiary Credence Capital, which promises to further our merger and acquisition opportunities well into the future and other large funding projects shortly."
For further information, please contact Rich Kaiser at 800.631.8127, Investor Relations principal at YES INTERNATIONAL. Email address: info@vipernetworks.com, www.vipernetworks.com.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance.
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Investor Relations Contact:
YES International
Rich Kaiser
800.631.8127
None of this information is based on my knowledge of the oil business of which I have none. Its all based on RPS data. They are the pros they are using a number of 88 wells for thunderbolt, but one step at a time and one or two wells at a time and more then one bank account at a time to house all the money I expect. The banks only insure each account to $250,000 so I intend to get around that by buying Hawaii.
"Electric cars
are the immediate future..."
Yes but they can only go as far as their line cord length. Further with an extension cord. This has been a problem because as more are put in use people are tripping over the cords. This causes medical costs to rise while lowering transportation fuel costs. We must weight them together and see if there is a benefit.
Obama is opening up the East coast to oil drilling. Saudi Arabia is exporting more oil to the China and India markets where before the United States was their biggest market. It will take 5 years and more before we can see oil flow from these new oil fields. The concern is over time the oil will become a bidding commodity and cause the price to rise beyond a reasonable area that will effect our economy. China and India have increased their demand for the hydrocarbons and force the U. S. to seek replacement suppliers.
We are seeking answers in multiple areas at the same time. A shot gun effect to find a cure. Electric cars and trucks, Wind mill and solar energy are the picks for a short term solution and in the distance, Hydrogen and Nuke energy will join the pack. If we don't plan now we will become a second class country.
Fellow share holders:
I have absolutely no doubt we will drill multiple wells starting with Bellevue and continuing with Thunderbolt and on till all the domes are fully depleted of black gold and natural gas. There will be hundreds of wells, up to 360 wells drilled in Bellevue alone, each well will cover a reservoir area of 58 sq km over a life time of 20 to 30 years. With all the revenue about to start arriving it will be used to increase the life style of all Tasmanians. It will increase the security of all of Australia and provide employment and increase support business and start a snow ball effect making Australia a world class hydrocarbon provider. Its all good and it has already started. stay tuned for a very exciting future.
Sentiment : Strong Buy
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In about 2 weeks the people that short EEGC will have dirty underware.
EEGC hired RPS Energy PTY Limited for a report on EEGCs Bellevue and Thunderbolt Sites.
Who are they?
RPS helps clients develop their natural energy resources across the complete asset lifecycle. We combine our technical and commercial skills with an extensive knowledge of environmental and safety issues.
We apply our significant expertise to a broad range of projects across oil and gas, renewable energy, resources and mining, and government. In each of these areas, we provide clients with independent and flexible support to help them achieve their technical and commercial goals.
In the Australia and Asia Pacific region and globally, we are renowned for our expertise and experience in the exploration and production of oil and gas. Our diverse team of specialists continue to work on some of Australia and South East Asia’s largest oil and gas projects, assisting clients in the evaluation, exploration and development of their assets.
Committed to supporting world-class, environmentally responsible development, we assist mining companies to develop projects from concept to implementation including environmental and regulatory approvals, environmental management, cultural heritage, ecological assessments and monitoring studies, surveying and contamination assessment and remediation.
We also work with resources and mining companies to build communities through the development of social and community infrastructure.
All shareholders will receive the same information
R4mon: Unless a person received the new report they have no idea of what is going on. Just wait and see what the lease will bring. Just a small 2 week wait. Shorts will go down in flames.
EEGC employed RPS Energy Pty Limited to evaluate the value of the oil at the Bellevue and Thunderbolt sites. they came back with a current valuation of $3.3 billion. This report was delivered on December 22, 2009. Just a word about RPS Energy. Its about the very best in the business with over 5,000 employees world wide and has an unblemished reputation. They would never have submitted that report with their name on it if it were not totally factual.
If people were to research RPS Energy they would realize EEGC should be trading at a much higher price then where it currently is.
There are major changes in the works and the company has not stopped working and as time progresses we will see more PRs that will bring everybody up to date. The beginning I suspect will start after we receive the lease from MRT. One such change already announced is the acquiring of a new drill rig that can drill to a depth of 15,000 feet.
Patience.
I have just received in the mail a book, Titled: Great South Land Minerals Limited, Empire Energy. SEL 13.98 Final Report Exploration Activity of Great South Land Minerals and its predecessor companies, 1984 - 2009
172 pages in color...Beautiful job
In addition enclosed is a report called, "Economic Evaluation of the bellevue and Thunderbolt Prospects in SEL-13/98, Australia
Prepared for Great South Land Minerals Limited by RPS Energy Pty Limited Date Dec 2009
I am impressed
The Haircut
One day a florist went to a barber for a haircut. After the cut, he asked about his bill, and the barber replied, "I cannot accept money from you; I'm doing community service this week." The florist was pleased and left the shop.
When the barber went to open his shop the next morning, there was a "thank you" card and a dozen roses waiting for him at his door.
Later, a police officer came in for a haircut and, when he tried to pay his bill, the barber again replied, "I cannot accept money from you; I'm doing community service this week." The officer was happy and left the shop.
The next morning when the barber went to open up, there was a "thank you" card and a dozen donuts waiting for him at his door.
A Congressman came in for a haircut and, when he went to pay his bill, the barber again replied, "I can not accept money from you; I'm doing community service this week." The Congressman was very happy and left the shop.
The next morning, when the barber went to open up, there were a dozen Congressmen lined up waiting for a free haircut.
And that, my friends, illustrates the fundamental difference between the citizens of our country and the politicians who run it.
EEGC is my pick lucy
Any news of an uplisting will only result in a short term boost in the price.
The value of a company is in the profit they can generate by the sale of their product or service. To sustain a price per share and continue to have it move up income must keep rising.
I believe this company has the potential to deliver continual profits but its too soon. They have to drill and excavate the minerals and sell them first. The rest of the short term price hops are good for the flippers and can be for the long term holders as well if they use the pull backs to accumulate.
people get caught up in the hype and deceive themselves. The profits will come in time and patience is required.
Carl the Crack addict will have health insurance. look at the good parts of the plan. The muggers won't feel bad any more because the people they mug can afford to go to the doctor and mugging could be fun. There will be a drug rebate and people won't have to hold up the drug stores any more because the new health plan will pay 85%. So they won't need as much money to maintain their drug habit, they can scale back and just mug old ladies.
Illegals will be able to get health care and thats good for the U.S. because it will build our population without us having to have children thus savings us money to take care of our kids. look at all the winning that will stop, and the savings in dirty diapers alone will be worth it.
EEGC for me . Thanks Lucy.
From: Former U.S Navy Personnel
To: The American Public
Subj: Position Statement on the U.S. Economy
1. We former Sailors take exception to everyone saying that Bernanke, Obama, Reid and Pelosi are spending like drunken sailors.
When we were drunken sailors, we quit when we ran out of money!
Thank You
=
EEGC in a couple of weeks and a couple of days will be over the comment period set by MRT and we are poised to move forward with the end goal of drilling and evacuating oil and natural gas. The only thing I can add to that statement is:
W E . A R E . G O I N G . T O . B E . R I C H !
Here in America we drink so much beer we don't have to drill for natural gas.
First I don't plan to die. I will live on to nag!
It won't be very long in my opinion before we see results. I think big things are quietly going on. We just have to wait till the comment period is over at MRT and the lease is issued.
In a little more then 2 weeks, (18 days is more like it), the comment period will be over and it is expected the Minister will grant the formal license. At about that time a lot of things will start to roll. We are on course to drill, a little more patience will make the shareholder very happy.
It appears to be a data transmission problem and not the stocks
ok we are back
I think they stopped trading..possible an announcement coming