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Add is in the mercury for the new area !! thats good news aye look foward to more as the week progresses
VPER in my opinion is a super exceptional buy at these prices. Time to accumulate.
This is one of many that need to get the boot.
Impeach Her NOW!
LET'S IMPEACH HER NOW BEFORE SHE DOES FURTHER DAMAGE!! WHAT AN IDIOT!!
IF YOU DON'T AGREE JUST DELETE--IF YOU DO--PASS IT ON!! WHERE DO WE GET THESE MORONS'
Windfall Tax on Retirement Income
Adding a tax to your retirement is simply another way of saying to the American people, you're so darn stupid that we're going to keep doing this until we drain every cent from you. That's what the Speaker of the House is saying. Read below...............
Nancy Pelosi wants a Windfall Tax on Retirement Income. In other words tax what you have made by investing toward your retirement. This woman is a nut case! You aren't going to believe this.
Madam speaker Nancy Pelosi wants to put a Windfall Tax on all stock market profits (including Retirement fund, 401K and Mutual Funds!) Alas, it is true - all to help the 12 Million Illegal Immigrants and other unemployed Minorities!
This woman is frightening.
She quotes..' We need to work toward the goal of equalizing income, (didn't Marx say something like this?), in our country and at the same time limiting the amount the rich can invest.' (I am not rich, are you?)
When asked how these new tax dollars would be spent, she replied:
'We need to raise the standard of living of our poor, unemployed and minorities. For example, we have an estimated 12 million illegal immigrants in our country who need our help along with millions of unemployed minorities. Stock market windfall profits taxes could go a long way to guarantee these people the standard of living they would like to have as 'Americans'.'
(Read that quote again and again and let it sink in.) 'Lower your retirement, give it to others who have not worked as you have for it'.
Send it on to your friends. I just did!! This lady is out of her mind and she is the speaker of the house!
That is what they are granting but the license was filed for more then double that. MRT is playing games. Malcolm wants the area he filed for and is justly due.
EEGC News
Oil explorer threatens to sue
A TASMANIAN oil and gas company is planning to sue the Bartlett government if its proposed mineral exploration licence, potentially worth more than $3 billion, is reduced.
Great South Land Minerals is shocked by the recommendation by Minerals Resources Tasmania it be granted an exploration licence of 3180sq km. Chief executive Malcolm Bendall said GSLM would sue the state for $3.3bn - the estimated wealth of deposits covered by the initial agreement - unless the government reconsidered.
Headlines in Austrailian newspapers about EEGC/GSLM
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Mining plans draw criticism
Conservation groups and the Greens have expressed outrage at reports the Government is planning to allow mining in 7000 hectares of high-value conservation land in the West Coast's Paparoa National Park, Great Barrier Island and the Coromandel Peninsula.
NZPA via Yahoo!Xtra News - Mar 14 10:38 AM
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Forest & Bird reveals Government mining plans
Conservation organisation Forest & Bird has uncovered Government plans to allow mining in 7000 hectares of high-value conservation land in the West Coast’s Paparoa National Park, Great Barrier Island and the Coromandel Peninsula.
Scoop.co.nz - 1 hour, 58 minutes ago
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Mining plans draw criticism
Conservation groups and the Greens have expressed outrage at reports the Government is planning to allow mining in 7000 hectares of high-value conservation land in the West Coast's Paparoa National Park, Great Barrier Island and the Coromandel Peninsula. read more
Otago Daily Times - Mar 14 11:17 AM
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PM won't confirm reports of mining plans
Prime Minister John Key says the public will have to wait for a discussion paper to be released to find out which areas of conservation land may be mined and how.
NZPA via Yahoo!Xtra News - 2 hours, 14 minutes ago
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PM tight-lipped over mining plans
Prime Minister John Key says the public will have to wait for a discussion paper to be released to find out which areas of conservation land may be mined and how. read more
Otago Daily Times - 19 minutes ago
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Party Supply Store Catches Fire Overnight
A South Charleston business that specializes in party supplies and rentals caught fire early Sunday morning
WSAZ NewsChannel 3 West Virginia - Mar 14 12:13 PM
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Greens unhappy at reports of mining plans
Conservation groups and the Greens have expressed outrage at reports the Government is planning to mine conservation land.
3news - Mar 14 12:03 PM
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Greens express outrage at government mining plans
Conservation groups and the Greens have expressed outrage at reports the government is planning to allow mining in 7,000ha of high-value conservation land ... COMMENT
TVNZ - Mar 14 10:15 AM
DonPlayer I hope and expect you will be multi-millionair before your 6th anniversary. I did review that post and it is quite outdated. This is a company that is in changing times. That post was made in June and then we had a drill rig erected, which is no longer the case. We need a new current DD post to flag. I think that by the end of next week a completely new ball game will start. More like the world series of the hunt for oil. I believe there are many exciting days ahead of us.
The extension of the rights offering till April 12 ending the first rights offering period is after the anticipated approval by MRT. I expect the approval to be March 20th and the posting in the local papers March 21st. Once the approval is made public the interest in the stock should rise significantly and the price per share I suspect will rise above the 7 cent offering price. When that happens the incentive to exercise the options will increase as the price continues to rise. The public comment period of 28 days will start with the newspaper notice and that period will end before the second 30 day period is over. While all this is going on plans to move a drill rig to the Bellevue site will take place in preparation of drilling. The Hotel in Bronte Park is ready to house the workmen. I have shortened some of the things that will occur but the details are being handled. The goal is to strike a gusher. There is in my opinion and the opinion of many others more knowledgeable then me that there is OIL and GAS there and a lot more then the audit shows.
Its all good.
EEGC for me again Lucy, Thanks
Prospectus filed pursuant to Rule 424(b)(3) (424B3)
Date : 03/12/2010 @ 4:47PM
Source : Edgar (US Regulatory)
Stock : (EEGC)
Quote : 0.0399 -0.0001 (-0.25%) @ 9:45AM
- Prospectus filed pursuant to Rule 424(b)(3) (424B3)
Prospectus Supplement #1
To Prospectus filed as part
of Registration Statement
SEC File # 333-159680
Filed pursuant to Rule 424(b)(3)
SUPPLEMENT NO. 1
DATED MARCH 12, 2010
TO PROSPECTUS DATED FEBRUARY 12, 2010
On March 12, 2010, upon receipt of the information that most of the Company’s shareholders living in Australia, of which there are over 500, had not as of this date received their Rights Certificates or Prospectus, the Board of Directors of the Company determined to extend the termination date of the primary Rights Offering period until Monday, April 12, 2010. The follow on Over Subscription Rights Period will follow this new termination date in the ordinary course as previously described in the prospectus and Rights Certificate.
As a result of this change, we will reprint new Rights Certificates which will reflect this new termination date and distribute the new certificates along with a copy of this supplement to all of our Rights Holders of record.
Not me. I would reduce my large position by selling high and pull my cost out + A small profit and let the rest ride free. No risk and you spread your money among other stocks.
The board has a bunch of flippers in it as well as long term investors. When the flippers don't see results immediately they dump and move on or play it up and down. Any mining stock is a long term play for big results. They have to mine the minerals and sell them to make money. Without revenue showing earnings any gain you see will be short term trading gains and losses. If you don't have the stomach to watch then sell and go to a better place. If you can find one. The lure of the quick buck is great but hardly happens.
someone dumped a load of shares...Hang in it will come back
All they had was talks...That doesn't mean there is a deal. I would think they would need an NI43-101 before a deal could be agreed upon, or at least a more positive report of minerals not just surface samples.
I don't understand what the problem is? Patience is all that is required.
The tests show high mineral content. A couple of large mining companies were interested in talking to the company. That took place. Spring is just around the corner and further drilling will take place. To establish the reserve value of the minerals at least one NI43-101 is required. A lot has happened and a lot more will happen as the company moves forward. And so I again say have patience. All is good!
That is all on the website I don't remember a sticky note on it, but my memory is not the best to rely on.
what is the number of the post you are referring to
There is NO such thing as quick DD. Research is an on going function in an ever changing environment. They can find past history on the website but to give the impression that a single post should give comfort to buy or sell a security is misleading. There are no short cuts.
Go to the website. There is a 170 page report explaining the history of EEGC and it speaks a lot about just what you ask.
Web Site: http://www.empireenergy.com
When it comes to the comment period the biggest thing that is overlooked is that this is the filing of a lease that was previously held for 10 years for that property and this was all addressed before. So I can't see any reason why there should be any concern over the new lease.
Uplisting will come in time some where in the future. Uplisting doesn't pay the bills. What pays the bills is revenue in the form of income from the sale of product or services. In our case it Minerals, Gold, Copper, Zinc and rare Earth minerals. to get to the point of actual mining and generating revenue you need money. There are many ways to get money, Joint ventures, Private Placement investors, selling shares in the company. When the stock price is low but the potential of making money is high then the best direction is Joint Ventures.. Its all in the agreement between parties.
The JV partner can pay for all of the mining costs for a share of the profits. How do you value the JV. The NI43-101 is the usual method. It also gives the leverage to the base company. It will be interesting to se what the outcome of these meetings bring and we should hear soon. Patience, this company has a long way to go before scoring big time.
Good morning. This is from another message site and is excellent reading:
Re: Anyone here holding a million or more shares? 9-Mar-10 10:49 pm
To my fellow shareholders of Empire Energy (EEGC). 7 March 2010
Hello
I have high regards for Malcolm Bendal and the two new directors that have just joined the Company.
Malcolm really deserves a pat on the back for bringing these two men into the insider circle. I am sure Malcolm will be able to get a lot of milage out of these two men and we as investors, will all benefit from their combined leadership and experience.
Investing in Empire Energy at this time, is a bet of a lifetime. Where else can a man at the age of 65 make a bet and maybe win 100, 1000 or 10,000 times on their money...? If I win, everyone wins because after I die the government gets most of it to spend on unfunded social programs.
It has not been an easy ride, my wife and I currently own 2,872,000 shares Empire Energy, not counting our Rights offering.
I recieve my investment information by reading the company's News Releases. The company is very tight lipped - even to me. So another words, owning a lot of stock is not helping me get any insider information.
The recent news release about two new Directors was a complete surprise to me. I sure am happy about the two new directors!!!
I receive my investment recommendations from a licensed professional investment advisor. He picks that stocks and I simply decide to buy or pass. My investment advisor personally has met the CEO of Empire Energy.
In my opinion, there are many very powerful interests hovering around this stock. Look around, and you will see the Natural Gas politican and power broker from Siberia. Then you see powerful and very old money becoming a Director from one of the wealthest families in Rhode Island; then you see glimpses of the old money crowd around Pasadena; some old money from the UK; and a couple of oil patch billionaires from Texas. Some of these guys fly around the world in their privately own Gulfstream jets. Then you see a Washington DC guy that was one of the controllers of Cassady (four star General PX Kelly's firm) and worked in every power house PR firm in DC - and then there are the power house of 2,500 investors from Australia - that want to be independent of Middle East Oil.
Future of Empire Energy:
Price of oil is inflation proof.
Oil located in a safe political country.
Oil located in a country independent of the pending US dollar collapse.
Possable new natural gas technology income stream.
The two new directors bring a new sense of EXPLOSION to the potential of EEGC.
I believe we really need these two new directors very much. Now we have two powerful men that may posses the right sense of where oil is heading in the USA and its international political risks and rewards (e.g how to judge the odds) and also a North Eastern billionaire that maybe wants to add a new notch on his resume, increasing his billions by investing now in oil...?
How did I get into EEGC....? I simply follow the brief advice I receive from my licensed investment advisor. Do I pay higher fees and commissions. Yes.
The best indication of whether this is a good bet is to look at the "TELLS" and best - at this point in time - is the decision of two powerful men from the USA - that decided it worth their self interest to take on the risk of becoming a director of Empire Energy. Forget about trying to figure out why they would do it - beyond the fact that is is obvious to their self interest.
Meanwhile, I am back "on-point" watching for any sign that the Lease has been approved by the Tasmania government. I sure want it to happen. Every night I look to see if there is any news.
Being 65 I have no desire to spend any profits from EEGC on parties and goodtimes; my focus is to put wealth to good use for the benefit of mankind..... funding companies with new products, new technologies, improving health, and quality of life.
Sincerely
Colonel James Krilich, USA Retired
I have been trying to contact the company but they don't answer the phone and no machine to pick up. I hope they are busy.
The telephone number for PCSO and RELM is the same. Interesting
No I don't agree, but if you want to think that, feel free.
Maybe so but if you are not comfortable with EEGC you can sell your stock at any time and move on.
Ezpicins:
"Almost two years here since I bought EEGC also. I had an elderly friend who traveled from the States to Tasmania to do some consulting work for EEGC. My friend in his 80's been in Oil business all his life. He returned from Tasmania convinced that there is oil to be found there. He told me about EEGC and encouraged me to invest a small amount in the stock. I did and then it went up, then the rig moved to Bellevue and drilling began and EEGC went to .20 a share. Then the financial crisis and soon the rig was removed and the share price plummeted. I am still holding and have added shares averaging my share cost way down."
A while back I spoke to the CFO of the company and he told me he thought there is more oil in Tasmania then anyone would believe.
Mark Callaway, Now deceased, rest his soul, was involved with Shell oil in the Russia exploration area and he was in on a discovery of 30 billion barrels of oil. (I can't remember or pronounce the name of the country), however after looking at the seismic maps held by EEGC/GSLM he said we have more oil then them. Take it for what its worth and believe what you will its my belief that anyone with 10,000 or more shares will be wealthy if they just hold on to the stock. Your long wait is slowly coming to an end.
The very best of luck my friend.
THE TERMS AND CONDITIONS HAVE BEEN MET!
LEAWOOD, Kan., March 5 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire)(OTC Bulletin Board:EEGC.ob - News) announced on Friday, March 5th 2010 the Company has been advised that the Director of Mines has provided written notification to wholly owned subsidiary, Great South Land Minerals Ltd (GSLM), of his intention to recommend to the Minister for Energy & Resources that Exploration License 14/2009 be granted subject to a number of terms and conditions.
See Post 13532 for the entire Press Release.
EEGC drilling, this may put to rest some worry!
EEGC COMMENT! The comment period is NOT open to the public! The purpose of the period is for Registered Groups to voice an opinion such as Aborigine burial grounds, Nesting eagles etc. There is a fee to be paid to file a response and you must register to file....This is not a problem and was previously checked out. EEGC went through this in the prior 10 yeas of the past lease. We expect the Minister to sign off this week because the Director of Mines has approved and recommended the lease.
It is expected the rights offering will be extended by up to 3 weeks. The drill unit can be moved into the area as soon as the money is available to pay and the unit is quarantined, trucking permits are paid for and transportation to the site is made, Inspection for safety is made and the rig is set up ready to drill. At this time the comment period is over and drill can start
I hope to add some clarity to your concerns.
The Minister will approve the lease prior to the 25 or so days open to the public comment period. Only in very rare situations will an adjustment have to be made. Consider that EEGC has had 10 previous years of license of the same area in fact a larger area and no problems. They have all been addressed. The PR that was released stated that the Director was recommending to the Minister approval of the lease. For all practical purpose this was to get the ball rolling. You are correct is assuming that there is risk. There is always risk but in this case minimal to non existing. I believe the Rights Offering first 30 day period will be extended by the time it took to deliver to all entitled participants, My guess is two to three weeks.
Malcolm is a most Honorable man and will see all shareholders will have the opportunity to exercise the offering. I believe the Price Per Share will start to rise when the Minister approves the lease if not sooner and I expect that to happen as soon as sometime this week.
This is my last allowed post for today so if you require an answer you can E-mail me at Howardhaftel@yahoo.com or wait till tomorrow. Relax all is going well.
The husband store
Husband Store
A store that sells new husbands has opened in New York City , where a woman may go to choose a husband. Among the instructions at the entrance is a description of how the store operates:
You may visit this store ONLY ONCE! There are six floors and the value of the products increase as the shopper ascends the flights. The shopper may choose any item from a particular floor, or may choose to go up to the next floor, but you cannot go back down except to exit the building!
So, a woman goes to the Husband Store to find a husband. On the first floor the sign on the door reads:
Floor 1 - These men Have Jobs
She is intrigued, but continues to the second floor, where the sign reads:
Floor 2 - These men Have Jobs and Love Kids.
'That's nice,' she thinks, 'but I want more.'
So she continues upward . The third floor sign reads:
Floor 3 - These men Have Jobs, Love Kids, and are Extremely Good Looking.
'Wow,' she thinks, but feels compelled to keep going.
She goes to the fourth f loor and the sign reads:
Floor 4 - These men Have Jobs, Love Kids, are Drop-dead Good Looking and Help With Housework.
'Oh, mercy me!' she exclaims, 'I can hardly stand it!'
Still, she goes to the fifth floor and the sign reads:
Floor 5 - These men Have Jobs, Love Kids, are Drop-dead Gorgeous, Help with Housework, and Have a Strong Romantic Streak.
She is so tempted to stay, but she goes to the sixth floor, where the sign reads:
Floor 6 - You are visitor 31,456,012 to this floor. There are no men on this floor.This floor exists solely as proof that women are impossible to please.
Thank you for shopping at the Husband Store. (scroll and keep reading!)
PLEASE NOTE:
To avoid gender bias charges, the store's owner opened a New Wives store just across the street.
The first floor has wives that love sex.
T he second floor has wives that love sex and have money and like beer.
The third, fourth, fifth and sixth floors have never been visited.
Transparency has nothing to do with the exchange a stock trades on. Its the company that determines transparency. But I bow to your super knowledge you see I am fairly new to this. I have only been trading stocks for about 55 years, even had a brokers license a while ago. Each exchange has their set of rules and demand certain filings. The toughest is the New York Stock Exchange followed by many others across the world. Don't confuse transparency with filing requirements.
Much to do about Exchanges. Its not that much of a deal regardless of what exchange they are on. Sure the best exchanges give the best exposure and money won't be a problem when they start generating cash from Gold, Copper and Zinc. The minerals are the key and not the reporting platform. Most of the capital for these type of operations come from Joint ventures or venture capital. It cost mucho money to be listed and each exchange extracts their quart of blood. The most attractive exchange will come after them if they score. Its best to use your financial resources to operate the business then to piss it away paying exchange fees.
Randall G. Burton is a Director and President of RELM. In 2005, after 35 years, he retired from his business, Burton Construction Company. His experiences cover real estate related activities, such as construction, development, sales and management. Specifically, he managed construction projects for numerous companies, in the Tri-State area of Delaware, New Jersey and Pennsylvania, such as the Du Pont Company, AstraZeneca, University of Delaware, Delaware State University, Bank of Delaware, Lincoln University, and the City of Wilmington. Also, he managed housing for the Wilmington Housing Authority. Currently, he serves as Chairman of the Board of Access Versalign Inc., an information technology services business.
EEGC big news:
Tasmanian Director of Mines Advises Great South Land Minerals Ltd, Wholly Owned Subsidiary of Empire Energy, His Intention to Recommend to the Minister for Energy & Resources That Exploration License 14/2009 Be Granted.
Press Release Source: Empire Energy Corporation International On Friday March 5, 2010, 8:00 am EST
LEAWOOD, Kan., March 5 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire)(OTC Bulletin Board:EEGC.ob - News) announced on Friday, March 5th 2010 the Company has been advised that the Director of Mines has provided written notification to wholly owned subsidiary, Great South Land Minerals Ltd (GSLM), of his intention to recommend to the Minister for Energy & Resources that Exploration License 14/2009 be granted subject to a number of terms and conditions. GSLM has also confirmed the remittance to Mineral Resources today, the required rental for the new tenement payable in advance, as a pre-requisite to the recommendation being forwarded to the Minister, in addition to confirming instructions for the transfer of the pre-existing security deposit held over former Special Exploration License SEL 13/98 to the new tenement. It is expected that Minerals Resources Tasmania will advertise Exploration License 14/2009 on 20 March 2010. The proposed license encompasses 3,180 square kilometers (approx. 788,266 acres) and covers the Bellevue and Thunderbolt structures. The rental fee in relation to this area was paid on 5 March 2010. These 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). Additionally, WHK Denison, one of Australia's top 10 accountancy firms, has valued this undiscovered potential resource at US$2.23 billion (AUD$2.48 billion) by discounting the current US$80 per barrel (AUD$89 per barrel) market price of oil down to US$5/barrel. This discount is based on the comparative sale value on the Australian mainland market of the undiscovered prospective resources. However, at a current 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).
While this license represents nearly a 50% reduction from GSLM's original 7,513 square kilometer (1,856,502 acres) application, the Company has accepted the reduced area to continue drilling activities, however, will actively pursue and continue to negotiate with the Minister for Energy and Resources for the remaining area to be granted pursuant to the terms of the previous Special Exploration License SEL 13/1998 license and the Minerals Resources Development Act 1995. The undiscovered potential resource estimates are a result of Empire's and GSLM's US$50.71 million (AUD$56 million) investment over the past 33.3 years. Empire and GSLM believe the remaining area, which encompasses a further 10 (ten) seismically defined prospective resources (refer: Table 2 of Competent Persons Report – Assets of GSLM, October 2008), is estimated to contain a further resource potential of 222 million barrels of oil. This has an undiscovered potential commercial resource value of US$1.108 billion (AUD$1.23 billion) at the discounted US$5 per barrel. At current world prices of US$80 per barrel the undiscovered potential commercial resource would be worth US$17.74 billion (AUD$19.73 billion). Empire intends to resume its drilling program in the licensed area and is confident the company will soon be able to drill all 12 discovered prospective structures which together hold a total undiscovered potential resource of 669 million barrels of oil and a gross potential value of US$53.5 billion (AUD$59.51 billion) at the current US$80 per barrel (AUD$89 per barrel).
We regret to advise shareholders that Empire Finance Director, Mark Calloway, has recently passed away due to illness. Empires' Board and fellow work colleagues pass on our deepest sympathy and condolences to Mark's family and friends in this time of loss.
Further to, and as a result of the acceptance of Exploration License 14/2009, Empire and GSLM have extended invitations to Mr. James H. Leach of Newport, Rhode Island to join Empire Energy's Board of Directors and Mr. Mark Cowan of law firm Patton Boggs, of Washington, D.C. to join as an Advisor to Empire's Board, after the scheduled completion of its ongoing USD$9.3 million (AUD$10.34 million) Rights Offering on or about April 20, 2010. Both Mr. Leach and Mr. Cowan are highly regarded within their respective professions and together will bring a wealth of legal, financial as well as political experience and expertise to the future of Empire Energy and its shareholders.
Mr. Leach currently serves as the Senior Managing Director of National Trust, LCC a subsidiary of the Leach Family Trust, one of New England's largest real estate developers with over 2.5 million square feet currently under development. Since his recognition in 1997 by the Environmental Protection Agency (EPA) as a pioneer in the reuse of Superfund Sites his ongoing work has been adopted by EPA and currently serves as the nationwide model for the Federal agency's billion-dollar Superfund Program.
For nearly two decades, Mr. Leach has imparted his proficient corporate guidance to a wide array of companies. At present, he is serving his 18th year on the board of The Oster Group, a privately owned investment banking operation specializing in providing capital and business management to emerging companies and his 6th year on the board of Kenney Manufacturing Company, a leading manufacturer and distributer of household products established in 1914 and among Rhode Island's largest employers.
In addition to his corporate boardroom experience, Mr. Leach has also maintained involvement in a number of local government boards serving as acting chairman of the Providence City Planning Commission, Trustee to the Providence Public Library, a Board of Governors member for Miriam Hospital, and currently serves as a Board member of the Rhode Island Public Telecommunications Authority, Grow Smart Rhode Island, The Rhode Island Philharmonic, Providence Zoning Commission, Providence Children's Museum, Touro Synagogue Foundation, Preserve Rhode Island and the Rhode Island Heritage Hall of Fame.
Mr. Mark Cowan, a partner at the Nation's largest government relations and lobbying law firm, Patton Boggs, has more than 35 years of experience working on complex domestic and international public policy issues to counsel a broad range of clients, advising corporations, government entities, and foreign sovereigns on a wide array of business, regulatory, and trade issues.
Mr. Cowan joined Patton Boggs after a long and successful career in the Washington public affairs and government relations industry. He served as president of Columbus Public Affairs and as Chief Executive officer of Newmyer Associates, he was Vice Chairman of Cassidy & Associates, and Founder and Chief Executive officer of The Jefferson Group. Mr. Cowan also served at Gray & Company and Hill & Knowlton Public Relations and has also held presidential appointments in three administrations. During the first Reagan administration, he served as Deputy Assistant Secretary of Labor and was appointed Chief of Staff and Counselor to the Secretary of Labor in 1982 and President George H.W. Bush appointed him as a Commissioner on the National Commission on Employment Policy and as a Member of the President's Council on the 21st Century Work Force.
In addition to his US Presidential Appointments, Mr. Cowan has held several other government posts. He was Counsel to the Committee on Standards of Official Conduct (ethics) of the U.S. House of Representatives and also served at the Central Intelligence Agency (CIA) as an operations officer, serving abroad and as a country desk chief in the agency's Directorate of Operations and held the position of Assistant Legislative Counsel to the Director of Central Intelligence (for more information, please visit www.pattonboggs.com/mcowan/).
CEO Malcolm Bendall remarked, "It is a great privilege and honor to have individuals of such proven integrity and professional accomplishment express interest in working to guide and aid Empire in its current endeavors." Furthermore, Mr. Bendall commented, "With the combination of financial, political as well as legal skills these two outstanding professionals harbor, Empire has never been more expertly equipped to undertake the development of the Tasmania Basin nor more well advised to manage the more vigorous requirements of corporate governance, finance and structure demanded by the size of the project the company is now undertaking. Shareholders have never been in better hands at a better time when the current market capitalization of Empire is 200 times less than the current asset value of US$2.23 billion (AUD$2.48 billion) comparative market value." As a point of clarification, we believe that part of the disparity between the current share price and the asset value, may be a result of previously having Special Exploration License (SEL 13/98), however, only being able to obtain a valuation at the expiry of that license. The granting of Exploration License 14/2009 represents the first time since then Empire Energy will be in possession of both a valuation as well as a license.
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, CEO
Empire Energy Corporation International
913-663-2310
EEGC for me this week.
Tasmanian Director of Mines Advises Great South Land Minerals Ltd, Wholly Owned Subsidiary of Empire Energy, His Intention to Recommend to the Minister for Energy & Resources That Exploration License 14/2009 Be Granted.
Press Release Source: Empire Energy Corporation International On Friday March 5, 2010, 8:00 am EST
LEAWOOD, Kan., March 5 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire)(OTC Bulletin Board:EEGC.ob - News) announced on Friday, March 5th 2010 the Company has been advised that the Director of Mines has provided written notification to wholly owned subsidiary, Great South Land Minerals Ltd (GSLM), of his intention to recommend to the Minister for Energy & Resources that Exploration License 14/2009 be granted subject to a number of terms and conditions. GSLM has also confirmed the remittance to Mineral Resources today, the required rental for the new tenement payable in advance, as a pre-requisite to the recommendation being forwarded to the Minister, in addition to confirming instructions for the transfer of the pre-existing security deposit held over former Special Exploration License SEL 13/98 to the new tenement. It is expected that Minerals Resources Tasmania will advertise Exploration License 14/2009 on 20 March 2010. The proposed license encompasses 3,180 square kilometers (approx. 788,266 acres) and covers the Bellevue and Thunderbolt structures. The rental fee in relation to this area was paid on 5 March 2010. These 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). Additionally, WHK Denison, one of Australia's top 10 accountancy firms, has valued this undiscovered potential resource at US$2.23 billion (AUD$2.48 billion) by discounting the current US$80 per barrel (AUD$89 per barrel) market price of oil down to US$5/barrel. This discount is based on the comparative sale value on the Australian mainland market of the undiscovered prospective resources. However, at a current 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).
While this license represents nearly a 50% reduction from GSLM's original 7,513 square kilometer (1,856,502 acres) application, the Company has accepted the reduced area to continue drilling activities, however, will actively pursue and continue to negotiate with the Minister for Energy and Resources for the remaining area to be granted pursuant to the terms of the previous Special Exploration License SEL 13/1998 license and the Minerals Resources Development Act 1995. The undiscovered potential resource estimates are a result of Empire's and GSLM's US$50.71 million (AUD$56 million) investment over the past 33.3 years. Empire and GSLM believe the remaining area, which encompasses a further 10 (ten) seismically defined prospective resources (refer: Table 2 of Competent Persons Report – Assets of GSLM, October 2008), is estimated to contain a further resource potential of 222 million barrels of oil. This has an undiscovered potential commercial resource value of US$1.108 billion (AUD$1.23 billion) at the discounted US$5 per barrel. At current world prices of US$80 per barrel the undiscovered potential commercial resource would be worth US$17.74 billion (AUD$19.73 billion). Empire intends to resume its drilling program in the licensed area and is confident the company will soon be able to drill all 12 discovered prospective structures which together hold a total undiscovered potential resource of 669 million barrels of oil and a gross potential value of US$53.5 billion (AUD$59.51 billion) at the current US$80 per barrel (AUD$89 per barrel).
We regret to advise shareholders that Empire Finance Director, Mark Calloway, has recently passed away due to illness. Empires' Board and fellow work colleagues pass on our deepest sympathy and condolences to Mark's family and friends in this time of loss.
Further to, and as a result of the acceptance of Exploration License 14/2009, Empire and GSLM have extended invitations to Mr. James H. Leach of Newport, Rhode Island to join Empire Energy's Board of Directors and Mr. Mark Cowan of law firm Patton Boggs, of Washington, D.C. to join as an Advisor to Empire's Board, after the scheduled completion of its ongoing USD$9.3 million (AUD$10.34 million) Rights Offering on or about April 20, 2010. Both Mr. Leach and Mr. Cowan are highly regarded within their respective professions and together will bring a wealth of legal, financial as well as political experience and expertise to the future of Empire Energy and its shareholders.
Mr. Leach currently serves as the Senior Managing Director of National Trust, LCC a subsidiary of the Leach Family Trust, one of New England's largest real estate developers with over 2.5 million square feet currently under development. Since his recognition in 1997 by the Environmental Protection Agency (EPA) as a pioneer in the reuse of Superfund Sites his ongoing work has been adopted by EPA and currently serves as the nationwide model for the Federal agency's billion-dollar Superfund Program.
For nearly two decades, Mr. Leach has imparted his proficient corporate guidance to a wide array of companies. At present, he is serving his 18th year on the board of The Oster Group, a privately owned investment banking operation specializing in providing capital and business management to emerging companies and his 6th year on the board of Kenney Manufacturing Company, a leading manufacturer and distributer of household products established in 1914 and among Rhode Island's largest employers.
In addition to his corporate boardroom experience, Mr. Leach has also maintained involvement in a number of local government boards serving as acting chairman of the Providence City Planning Commission, Trustee to the Providence Public Library, a Board of Governors member for Miriam Hospital, and currently serves as a Board member of the Rhode Island Public Telecommunications Authority, Grow Smart Rhode Island, The Rhode Island Philharmonic, Providence Zoning Commission, Providence Children's Museum, Touro Synagogue Foundation, Preserve Rhode Island and the Rhode Island Heritage Hall of Fame.
Mr. Mark Cowan, a partner at the Nation's largest government relations and lobbying law firm, Patton Boggs, has more than 35 years of experience working on complex domestic and international public policy issues to counsel a broad range of clients, advising corporations, government entities, and foreign sovereigns on a wide array of business, regulatory, and trade issues.
Mr. Cowan joined Patton Boggs after a long and successful career in the Washington public affairs and government relations industry. He served as president of Columbus Public Affairs and as Chief Executive officer of Newmyer Associates, he was Vice Chairman of Cassidy & Associates, and Founder and Chief Executive officer of The Jefferson Group. Mr. Cowan also served at Gray & Company and Hill & Knowlton Public Relations and has also held presidential appointments in three administrations. During the first Reagan administration, he served as Deputy Assistant Secretary of Labor and was appointed Chief of Staff and Counselor to the Secretary of Labor in 1982 and President George H.W. Bush appointed him as a Commissioner on the National Commission on Employment Policy and as a Member of the President's Council on the 21st Century Work Force.
In addition to his US Presidential Appointments, Mr. Cowan has held several other government posts. He was Counsel to the Committee on Standards of Official Conduct (ethics) of the U.S. House of Representatives and also served at the Central Intelligence Agency (CIA) as an operations officer, serving abroad and as a country desk chief in the agency's Directorate of Operations and held the position of Assistant Legislative Counsel to the Director of Central Intelligence (for more information, please visit www.pattonboggs.com/mcowan/).
CEO Malcolm Bendall remarked, "It is a great privilege and honor to have individuals of such proven integrity and professional accomplishment express interest in working to guide and aid Empire in its current endeavors." Furthermore, Mr. Bendall commented, "With the combination of financial, political as well as legal skills these two outstanding professionals harbor, Empire has never been more expertly equipped to undertake the development of the Tasmania Basin nor more well advised to manage the more vigorous requirements of corporate governance, finance and structure demanded by the size of the project the company is now undertaking. Shareholders have never been in better hands at a better time when the current market capitalization of Empire is 200 times less than the current asset value of US$2.23 billion (AUD$2.48 billion) comparative market value." As a point of clarification, we believe that part of the disparity between the current share price and the asset value, may be a result of previously having Special Exploration License (SEL 13/98), however, only being able to obtain a valuation at the expiry of that license. The granting of Exploration License 14/2009 represents the first time since then Empire Energy will be in possession of both a valuation as well as a license.
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, CEO
Empire Energy Corporation International
913-663-2310
Tasmanian Director of Mines Advises Great South Land Minerals Ltd, Wholly Owned Subsidiary of Empire Energy, His Intention to Recommend to the Minister for Energy & Resources That Exploration License 14/2009 Be Granted.
prnewswire
Press Release Source: Empire Energy Corporation International On Friday March 5, 2010, 8:00 am EST
LEAWOOD, Kan., March 5 /PRNewswire-FirstCall/ -- Empire Energy Corporation International (Empire)(OTC Bulletin Board:EEGC.ob - News) announced on Friday, March 5th 2010 the Company has been advised that the Director of Mines has provided written notification to wholly owned subsidiary, Great South Land Minerals Ltd (GSLM), of his intention to recommend to the Minister for Energy & Resources that Exploration License 14/2009 be granted subject to a number of terms and conditions. GSLM has also confirmed the remittance to Mineral Resources today, the required rental for the new tenement payable in advance, as a pre-requisite to the recommendation being forwarded to the Minister, in addition to confirming instructions for the transfer of the pre-existing security deposit held over former Special Exploration License SEL 13/98 to the new tenement. It is expected that Minerals Resources Tasmania will advertise Exploration License 14/2009 on 20 March 2010. The proposed license encompasses 3,180 square kilometers (approx. 788,266 acres) and covers the Bellevue and Thunderbolt structures. The rental fee in relation to this area was paid on 5 March 2010. These 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). Additionally, WHK Denison, one of Australia's top 10 accountancy firms, has valued this undiscovered potential resource at US$2.23 billion (AUD$2.48 billion) by discounting the current US$80 per barrel (AUD$89 per barrel) market price of oil down to US$5/barrel. This discount is based on the comparative sale value on the Australian mainland market of the undiscovered prospective resources. However, at a current 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).
While this license represents nearly a 50% reduction from GSLM's original 7,513 square kilometer (1,856,502 acres) application, the Company has accepted the reduced area to continue drilling activities, however, will actively pursue and continue to negotiate with the Minister for Energy and Resources for the remaining area to be granted pursuant to the terms of the previous Special Exploration License SEL 13/1998 license and the Minerals Resources Development Act 1995. The undiscovered potential resource estimates are a result of Empire's and GSLM's US$50.71 million (AUD$56 million) investment over the past 33.3 years. Empire and GSLM believe the remaining area, which encompasses a further 10 (ten) seismically defined prospective resources (refer: Table 2 of Competent Persons Report – Assets of GSLM, October 2008), is estimated to contain a further resource potential of 222 million barrels of oil. This has an undiscovered potential commercial resource value of US$1.108 billion (AUD$1.23 billion) at the discounted US$5 per barrel. At current world prices of US$80 per barrel the undiscovered potential commercial resource would be worth US$17.74 billion (AUD$19.73 billion). Empire intends to resume its drilling program in the licensed area and is confident the company will soon be able to drill all 12 discovered prospective structures which together hold a total undiscovered potential resource of 669 million barrels of oil and a gross potential value of US$53.5 billion (AUD$59.51 billion) at the current US$80 per barrel (AUD$89 per barrel).
We regret to advise shareholders that Empire Finance Director, Mark Calloway, has recently passed away due to illness. Empires' Board and fellow work colleagues pass on our deepest sympathy and condolences to Mark's family and friends in this time of loss.
Further to, and as a result of the acceptance of Exploration License 14/2009, Empire and GSLM have extended invitations to Mr. James H. Leach of Newport, Rhode Island to join Empire Energy's Board of Directors and Mr. Mark Cowan of law firm Patton Boggs, of Washington, D.C. to join as an Advisor to Empire's Board, after the scheduled completion of its ongoing USD$9.3 million (AUD$10.34 million) Rights Offering on or about April 20, 2010. Both Mr. Leach and Mr. Cowan are highly regarded within their respective professions and together will bring a wealth of legal, financial as well as political experience and expertise to the future of Empire Energy and its shareholders.
Mr. Leach currently serves as the Senior Managing Director of National Trust, LCC a subsidiary of the Leach Family Trust, one of New England's largest real estate developers with over 2.5 million square feet currently under development. Since his recognition in 1997 by the Environmental Protection Agency (EPA) as a pioneer in the reuse of Superfund Sites his ongoing work has been adopted by EPA and currently serves as the nationwide model for the Federal agency's billion-dollar Superfund Program.
For nearly two decades, Mr. Leach has imparted his proficient corporate guidance to a wide array of companies. At present, he is serving his 18th year on the board of The Oster Group, a privately owned investment banking operation specializing in providing capital and business management to emerging companies and his 6th year on the board of Kenney Manufacturing Company, a leading manufacturer and distributer of household products established in 1914 and among Rhode Island's largest employers.
In addition to his corporate boardroom experience, Mr. Leach has also maintained involvement in a number of local government boards serving as acting chairman of the Providence City Planning Commission, Trustee to the Providence Public Library, a Board of Governors member for Miriam Hospital, and currently serves as a Board member of the Rhode Island Public Telecommunications Authority, Grow Smart Rhode Island, The Rhode Island Philharmonic, Providence Zoning Commission, Providence Children's Museum, Touro Synagogue Foundation, Preserve Rhode Island and the Rhode Island Heritage Hall of Fame.
Mr. Mark Cowan, a partner at the Nation's largest government relations and lobbying law firm, Patton Boggs, has more than 35 years of experience working on complex domestic and international public policy issues to counsel a broad range of clients, advising corporations, government entities, and foreign sovereigns on a wide array of business, regulatory, and trade issues.
Mr. Cowan joined Patton Boggs after a long and successful career in the Washington public affairs and government relations industry. He served as president of Columbus Public Affairs and as Chief Executive officer of Newmyer Associates, he was Vice Chairman of Cassidy & Associates, and Founder and Chief Executive officer of The Jefferson Group. Mr. Cowan also served at Gray & Company and Hill & Knowlton Public Relations and has also held presidential appointments in three administrations. During the first Reagan administration, he served as Deputy Assistant Secretary of Labor and was appointed Chief of Staff and Counselor to the Secretary of Labor in 1982 and President George H.W. Bush appointed him as a Commissioner on the National Commission on Employment Policy and as a Member of the President's Council on the 21st Century Work Force.
In addition to his US Presidential Appointments, Mr. Cowan has held several other government posts. He was Counsel to the Committee on Standards of Official Conduct (ethics) of the U.S. House of Representatives and also served at the Central Intelligence Agency (CIA) as an operations officer, serving abroad and as a country desk chief in the agency's Directorate of Operations and held the position of Assistant Legislative Counsel to the Director of Central Intelligence (for more information, please visit www.pattonboggs.com/mcowan/).
CEO Malcolm Bendall remarked, "It is a great privilege and honor to have individuals of such proven integrity and professional accomplishment express interest in working to guide and aid Empire in its current endeavors." Furthermore, Mr. Bendall commented, "With the combination of financial, political as well as legal skills these two outstanding professionals harbor, Empire has never been more expertly equipped to undertake the development of the Tasmania Basin nor more well advised to manage the more vigorous requirements of corporate governance, finance and structure demanded by the size of the project the company is now undertaking. Shareholders have never been in better hands at a better time when the current market capitalization of Empire is 200 times less than the current asset value of US$2.23 billion (AUD$2.48 billion) comparative market value." As a point of clarification, we believe that part of the disparity between the current share price and the asset value, may be a result of previously having Special Exploration License (SEL 13/98), however, only being able to obtain a valuation at the expiry of that license. The granting of Exploration License 14/2009 represents the first time since then Empire Energy will be in possession of both a valuation as well as a license.
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, CEO
Empire Energy Corporation International
913-663-2310
CEO Malcolm Bendall remarked, "It is a great privilege and honor to have individuals of such proven integrity and professional accomplishment express interest in working to guide and aid Empire in its current endeavors." Furthermore, Mr. Bendall commented, "With the combination of financial, political as well as legal skills these two outstanding professionals harbor, Empire has never been more expertly equipped to undertake the development of the Tasmania Basin nor more well advised to manage the more vigorous requirements of corporate governance, finance and structure demanded by the size of the project the company is now undertaking. Shareholders have never been in better hands at a better time when the current market capitalization of Empire is 200 times less than the current asset value of US$2.23 billion (AUD$2.48 billion) comparative market value." As a point of clarification, we believe that part of the disparity between the current share price and the asset value, may be a result of previously having Special Exploration License (SEL 13/98), however, only being able to obtain a valuation at the expiry of that license. The granting of Exploration License 14/2009 represents the first time since then Empire Energy will be in possession of both a valuation as well as a license.