goingupagain
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and so we shall wait for news, howard. i am looking beyond the bellevue well site. the sooner they start the first one, then it is on to the thunderbolt which is next.
yes, PATIENCE.
the news will come, and we will all applaud it. i will also applaud better communication from the company, which i believe has improved and will continue to do so in the future.
have a good day, everyone.
agreed. yet, it behooves eegc to "get 'er done" to use a worn-out phrase. the rig still costs a lot per day sitting idle and the clock is ticking.
i'm still positive on eegc and hopefully a pr comes out this week about the financing and the drilling. doing the drilling mid-may would be good.
too funny, howard. my hat's off to all the positive people on this board: howard, captschippy, mhaagen, and too many others to name.
i will post here but much less on the "spewing" as someone put it. however, from the pr from yesterday: "empire energy international has today announced that it is in the final stages of processing its registration statement required by previous financing arrangements"
also: "our new business partner geominix resources limited ceo zanayi sithole today SUBCRIBED to purchase 15 million common shares at a price of $0.07 per share" etc. etc.-----
now that the above is public info.--i WILL BE finding out exactly what the details are about mr. sithole's 15 million shares for my own peace of mind.
have a great weekend everyone, and howard, i thought eegc was buying aapl.
the main thing is this: get the drilling done. i am surprised they did not offer the hunt people part of the profits from drilling, but if geominix is offered something more later, great. get the drilling done. a priority.
i am probably wrong, but when the 30 day period starts for the rights offering, geominix will show good faith in buying the 15 million shares at 7 cents, and this will raise the pps to 7 cents, and us shareholders have 30 days to exercise our rights as long as we held shares before 12-18-08, i believe.
any can correct me if i am wrong, when i first read the pr, i thought the shares were being purchased by goeminix immediately. if wrong, let me know.
if geominix can purchase the 15 million shares at 7 cents, they can come up with the other 1.2 mill to drill, again, my opinion.
please also remember that it costs hunt big money to move the rig. it isn't cheap to dismantle it and then move it. someone would have to pay them for some other project to even make it feasible. also, notice that the hunt person in the article said that they wish the rig would stay and they would drill.
it also takes two weeks to move the rig.
newspapers are basically negative and so are reporters. so, think before leaping. how would feel if the drilling starts, the pps jumps up and you sold out for chump change at less than 5 cents.
one final thing: geominix can buy the shares and the money goes in the eegc coffers, i believe, right away, and they can pay hunt 1mill right away and then the 200,000. that pays hunt and the rest to drill will come.jmho.....
fridays are a good day for pr's as regards eegc, so, let's have one tomorrow eegc, or early next week.
bye for today, time to eat.
i agree wholeheartedly. it would have tanked to subpenny level. i also agree with howard and i don't believe mark callaway coming on board is for not. newspapers are what they are:negative.
i will keep the faith, and won't sell at bottom-feeding levels.
it takes about two weeks for the hunt rig to be taken down, and it has not moved yet, so, there is yet hope eegc will pay the hunts soon.
exactly. look what it costs them to move it. not peanuts..
have a great afternoon, everyone!! 68 degrees in iowa today.
if you read the newspaper article, the hunt people or rig opeerator said that they would reconsider if the money came in. if this gets the company to act now, good.
who is to say that they can't pay the hunt rig people still. it takes two weeks, i understand, to tear down the rig etc. they could still come across with the $.
we will soon see.
amen to that.
i think he is saying that if geominix assets are worth 900 million (on a discounted basis), that they could have an intial public offering of 100 million shares at $9 each. eegc then would be worth .90 or 10% of that. jmho--
good point, mr. guru. i also know that ipo has a form requirement from the sec. so, news of that will "float around" before the ipo actually happens./ i believe cnn had an internet article about finding out what co's are going to do an ipo.
are you basing the .90 on just what we know about the new jv partnership with geominix. or the fact that they may just have an ipo around the corner?
your honest opinion, please, mr. guru, sir!!!
ask went up to .0375, so are not that far off from back up to .04+ again.
if we were in BIG TIME TROUBLE, the pps would fall to .0007 or something.
all the negative news lately, there may be some really good news around the corner. those who have sold shares at this bottom-feeding level may surely regret they did later on.
if the jv partner goes public with an ipo(which came to my mind-OR SHOULD SAY, MY GUT--when the new jv partnership was announced) good things are going to be in store for eegc.
now maybe the threat of the rig being moved will set a fire underneath the feet of eegc to get the money and pay hunt to do the drilling.
just sell your shares and move on, positive advice if you are unhappy. best personal regards.
hopefully drilling takes place at the bellevue well and perhaps more before may '09 is over.
going to a spaghetti dinner as my stomach is singing to me.
i suggest everybody read the new info on geominix, and i will take my own advice by reading it now.
will post later. have a great week, everyone...
as a follow-up to my last post, is eegc going to be "absorbed" into a new company-or part of geominix which may go public. some things are happening fast, the website of eegc has had 2 updates very quickly, when before it took weeks to have any.
looks like, to me, exciting stuff coming. i feel it in my oily bones.
totally agree, howard. tassie first, then africa after revenues come in. also, notice on page four of the new post of geominix on the eegc website. mr. callaway listed as chief executive officer. mr. malcolm bendall listed as non-executive director and mr. garrison listed also as a non-executive director.
are we looking at a new company, please let me re-phrase that, if geominix is a private company, are we looking at it going public and issuing stock? an ipo?
one thing is for sure, if money to the tune of 10 mill is coming forth soon to get the tassie drilling of 3 to 4 wells going, we could, with tassie AND AFRICA be looking at a MAJOR COMPANY!(with time)
also, it would answer someone else's post about mark callaway
FORMERLY being with eegc. now he, bendall, and garrison are with geominix.
any corrections on any of these amateur ideas, i am confident the good posters here will correct me, and that is just fine. have a great week everyone and looking for a good news pr.
even though this is my theory and nothing else, common sense (with the rig obviously in place) says start drilling in tassie, maybe 3 to 4 wells, and then with revenue, move on to africa.(where oil/gas/gold may be found)
i need to post another day, good luck, all!!
i know. thanks, capt. i am a little worked up today i do not mean to be. i still will keep my eegc shares and still be positive. they just NEED TO DRILL, NOW!!!!!!!!!!!!!!!!!
they need to raise the money of 2.5 million(estimated) to drill the bellevue. they should not count on the shareholder's rights offer to raise money to drill because the drilling of bellevue will raise the pps. otherwise the pps stays low and the .07 level is mute.
hopefully, the new jv partner will help raise the needed money.
we shall see.
i missed this post . thanks.
i agree with doc. time to start the drilling, yes, i am frustrated, still positive about eegc, but my patience is waning.
on scottrade, i do not see an "e" after the symbol, but that does not mean anything. i hope vincent can talk to malcolm in tasmania, and tell him to get the drilling done at the bellevue. time to "just DO IT"!!!
looking for the interview with mark worley that vincent did and since it is early morning in tassie, will look forward to possibly checking it out later today or on monday.
have a great weekend, everyone.
agreed. all the seismic, etc. etc. done by malcolm will look really brilliant when a strike of oil/gas is made. then, the africa property, as i understand it, could contain gold beyond hydrocarbons.(at least it expands it into somewhere else not just tassie.
just do a pr next week, eegc. and drill . we have to crawl before we walk and then run.
i am glad vincent is there, and took the photos of the oil seeps and also the rig at the bellevue.
if drilling starts in early may, too bad he can't be there at that time, too.
great post, howard. the more i read the pr on friday, the more i like. now, just get the drilling started, eegc. and then we can move on from there. this little company could become big one day.
it just starts at the bellevue.
i guess the 900 million value has me confused, real value, or suggested value of the other company...
"to be drilled shortly". now they need a pr to follow this pr to tell when the drilling is starting. or better yet, as i suggested some time ago, just start the drilling. and then have a pr which says, "drilling commenced today, (date), thereby removing all doubt.
yes, i guess i don't understand all i read in that press release. like, when is the drilling at the bellevue to start?
ask at .06 again.
wait til drilling time...