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1.6 months is equal to 48 days. 48 days from now will be March 25. I look forward to the first week of spring and the SEC and MRT decisions. Something tells me you are correct in your assumptions. EEGC is a volcano that will erupt soon. I purchased my first shares of EEGC in March of 2008 and have continued to average 9,000 shares purchased every month since then. The fluctuating share price over that 24 month period has given me an average purchase price of .07 per share. I find that rather ironic since the rights offering will be exactly that. I also believe Howard is correct that we are looking at a stock that will reward us over time. It's not going to happen over night but 5 years from now I believe those that remain patient will be quite happy that they did.
It is quite amazing that we have not heard anything at all on either one of the important issues for EEGC. Not a peep about the MRT decision and absolutely nothing from the SEC on the rights offering. How can these two institutions drag this process out like this indefinitely? We are going on 3 months since Malcolm has provided any kind of news. What's up with this Howard? Can you throw us a bone. Not some bone that all the neighborhood dogs have chewed on for a long time but a bone that has just a tiny bit of marrow left and isn't sun dried and bleached.
When you first started telling us over 4 months ago that it was going to be 6 months, I had my reservations. I have to tip my hat to you clipso as it appears you will be more correct than anyone so far. I have been long for quite a while so a month here or a month there doesn't make much difference. EEGC is what it is. One of these mornings we will wake up to a flurry of activity and then it will have all been worth the wait. Hang in there.
SEL 13/98 application occurred on September 30, 2009. 36 days later the detailed report of progress by GSLM/EEGC was submitted to MRT. Today makes 81 days that the MRT has been considering approval. I would think an organization such as MRT would maintain metrics that analyze their own performance like any other large company/organization. 90 days seems like a reasonable time for such a decision. Day 90 will fall on December 29. Not too many companies/organizations can afford to pay their employees holiday pay for December 21 through January 4 (or the entire holiday period). If they do shut down for this entire period the employees would probably be required to use some of their vacation time if they have any left from the year. My hunch is the MRT employess will work the next 3 days before December 24 and some of the week of December 28. We should hear something very soon.
Yes. You can see the sight on google earth. It took a little while for me to locate it. I had to go back and forth from the pictures on the EEGC web site. It looks like the picture on EEGC's web site with the exception that you can't see any drill rig. But who knows when the satelite picture was taken.
I agree peter. Enough of this negative garbage that has everyone in a funk. This company has been in business for at least 10 years. That say's a lot for endurance and longevity. We all know it's coming and chances are good we will see some positive movement real soon. The nay sayers will be long gone shortly.
Exxon Mobile is at $75, Shell is at $62 and Conoco Phillips is at $53 today. If I see $30 out of EEGC I will be ecstatic.
Howard was right when he said this is a retirement stock. I don't have any doubt that the market will react favorably with the slightest hint of news but when it jumps up ten or twenty cents you better hang on to it. 100,000 shares right now worth $3,000 could easily be worth $30,000 in a couple days. And if events unfold as Howard has summized it will be worth 100 times that in a year or two. I can't imagine how hard I would kick myself if I sold 100,000 shares at .30 when I could have waited a couple of years and get $30.
If anyone doubts the potential of this stock they are incapable of adding 2 + 2. There is tremendous pressure being held back and we saw a tiny glimpse of the possibilities yesterday. That bump in the share price is nothing compared to what this stock can and will do in a short while.
Crude oil nudged $82 on Friday and closed at $79.64. The forecast calls for $92 by the end of the year. If the MRT were going to refuse EEGC,why haven't they done it by now? That's because of the pressure they are receiving from the Tasmanian investors. That's why they put out a preliminary statement about relaxing time requirements for leases. It's all leading up to approval for EEGC. Oil over $80 a barrell, MRT approval of EEGC's application and a rights offering which is all but sure to be approved. I'm holding tight. Howard has been saying "patience" for a long time. We won't have to be patient much longer.
Most of us longs feel pretty much the same way. We know EEGC will eventually make a go of it. It's just a matter of time. I found it interesting that the MRT was relaxing the time requirements because of the economy. They understand the plight of investment seekers and seem willing to work with them. I think it spells good news for EEGC.
Look. This is either going to be a dismal failure or a huge success. I can't see any in between. I am very happy I have the shares that I do and like most of my EEGC brethren,I plan to keep every one of them until they are worth zero or $100. What someone else says is of no consequence. Let the bashers ramble on but soon we will know one way or the other.
The rights offering will be of a huge consequence. Just the slightest indication of progress on this stock always brings rapid increases in the pps. Combine SEC approval for the rights offering and any information on the possibility of continued drilling and just watch what happens.
.049 by the end of the day!!
The countdown is complete on the EEGC 5, the engines are thrusting and pulling against the tie downs. Hang on.
All it is going to take is one positive announcement and this thing is going to take off like a saturn rocket. There are many, many people watching this stock and just waiting for the slightest sign of success before they get in big time. When it does lift off you better have all the stock you had hoped to have because you won't be able to afford any more of it.
www.standoutstocks.com: Stocks That Standout For 8/20/2009 Are NVSR, BONU, CBIS, NPHC, EEGC
And not a peep of news. What am I missing here?
I'm enjoying the ride. Lots of nice windy roads with several pleasant stops along the way. Opportunities to purchase and sample the fresh country fruits and vegetables available at roadside stands. Beautiful barns and picturesque fields with healthy livestock and green grass. The top down on my new Lambergini as it rumbles quietley and powerfully toward my ocean beach house destination. Thanks EEGC. I couldn't have done it without you.
Hang in there folks. News is coming soon. It has to. There isn't much time left. Up until now, time has been working against us (shareholders) because we know the deadline date. But now, that same deadline date is working in our favor to force some kind of action. Within the next 30 days we will all know whether this was a big mistake or a fabulous investment. I still have faith that Malcolm can pull this off. We will soon see.
I sent an e-mail to Christopher Brown who is the operations manager for Hunt Energy. I explained that I was an EEGC shareholder and wanted to know if he could provide some information about the status of Rig #3. That was a week ago. I never heard any response. If Hunt Energy was taking their equipment and heading for another job what would they care about letting people know? Why would they not answer my query? The only answer I can come up with is they are still an active participant in the Bellevue operation and have agreed to let EEGC make all announcements.
You can't possibly be serious!! There is no way the game is over for EEGC. Yes, it's taking a while but I wouldn't sell a single share now if it went to 10 cents. Patience is the proper course of action for this stock. It will pay off.
That's kind of like telling the driver who's bus full of stock holders has stalled on the railroad track with a train bearing down on them that they ought to do something.
Let's say EEGC does not get the liscense for coal or gas and they do drill. Upon hitting coal or gas what happens then? Will the government sell the rights for these materials to some other company and if so do they use the well that EEGC drilled to access them. That part of it doesn't make sense. If EEGC shows good faith and gets the drill turning and does hit coal or gas I would think the government would at least attempt to work something out with them.
Malcolm tested the waters with the LOC carrot. It didn't work. He is well aware that he has to come up with something substantial. That's why we won't hear anything until he really has something tangible or he declares defeat. Just the fact that he tried the LOC angle is telling. Very soon we will know.
Doesn't it seem odd that there is absolutely no information about Hunt Rig #3? If that rig was moved off Bellevue to begin work on another job somewhere there would be news of it. You can't keep something like that quiet when there are so many interested parties (with good or bad intentions). That being said the majority of the rig must still be in place. Whether or not the winterizing story is legitimate, who knows? I just get the feeling they are up to something that will surprise us all soon. With so many stock holders from so many different walks of life and varying degrees of penetration withing the information chain, the absence of tangible progress data is amazing. What a fire wall this company has!!
If there is but one concept I would emphasize to both our shareholders and our visitors, it would be that the entire Empire Energy Team is intently and singularly focused on bringing this first well, Bellvue #1, to fruition.
This is from Malcolm's letter of March 24, 2009. I believe this was his intention then and it is his intention now. I imagine at this late date there is panic. I don't think we will hear a thing until very positive action has been taken. He simply won't let this project die on the vine without a fight and that fight is occurring now. Stand by cause something is going to happen one way or the other very soon.
I think it's safe to say Malcolm is making some very serious and important decisions about now. There are always options. Some better than others. Sometimes you have to cut off a limb to save the trunk. Would an intelligent person with a lot of money be interested in half of Malcolm's shares for some drill money?
30 years of work on this project speaks volumes. All the effort and money to get this far has to be worth something. Can you imagine another company getting the liscense and immediately going to the Bellevue/Thunderbolt areas and drilling, hitting oil and being wildly successful? All because we can't scrape up enough money to finish a well that has allready been started. I don't know how much of this is due to bad management, bad luck, bad economy, greedy lenders or bad timing but the motivation to finish this before September is astounding. It's going to get exciting and I think next week will really be a turning point.
One way or the other it is going to get real exciting, real soon.
I couldn't agree with you more. This coming Thursday or Friday we expect to see a PR. The last several have been written towards people with an IQ of 80. I want the truth too. I want to know what is really going on. If it is bad news, so be it. If it is good news give us some real evidence of it. If I read another PR like the ones we have been seeing the past year I am going to get sick. The truth please!!
My account calculator says .015 this morning but it doesn't show up on E trade yet.
The next PR is going to make or break this whole deal. It's obvious there is a cash problem. Anybody that can't see that has their head in the sand. But it's a high risk, high reward venture and I'm sticking with it.
Is it the general consensus that failure to hit oil at Bellevue spells the end for EEGC? If they do fail to drill before September 30 are we just done or is there a chance that some other venture could still be on the horizon?
This is going to be a nail biter right to the very end. I can see the plot as if it were a Steven Spielberg movie. All this time, effort and money spent and the dreams and aspirations of a wide and varied group of company personnel and share holders hanging in the balance with only 90 days to win or lose. Down to the wire we will all go with certain temporary failures and last minute reprieves. Sweating bullets until one week before the expiration of the lease and a huge gusher.
He's not getting any of my shares!!
I agree whole heartedly with Howard. I've been buying more also. This is a once in a lifetime opportunity. We are on the cusp of success or defeat. It could tip either way but if it does teeter toward success, those who have held in there will be very, very happy. We don't have long to wait because there isn't much time left. Either Malcolm pulls a rabbit out of his hat or he doesn't. I'm betting he will.
It's like I told my one legged wife, I said "Peg, get down off that skateboard and fix me a tuna-fish sandwich or I ain't taking you dancing tonight". "Pretty soon were gonna be rich Peg, I can just feel it in my bones".
For almost 2 years I have watched with apprehension as my shares of EEGC have slowly crept lower and lower. You all know the feeling of going to your computer every now and then and thinking today might be the day only to be let down again. Well the pendulum is near stopped and ready for its course change. I have a lot of confidence in this outfit. For the next 2 years we will go to our computers and say "damn, it went up that much in one day. I wish I could have bought more when I had the chance". Oil is going up. The economy is looking better. Financing is getting easier and we are on our way.
Whatever is going to happen will happen soon. It's kind of like the last quarter of a football game with 2 minutes left and your team is 9 points behind. If we get a touchdown and the extra point (financing) we will still need a 3 point conversion to win (hit oil). In this case it seems we are all pretty confident that the oil (or gas) is there. We just need that Hail Mary pass right now for the 7 points. What kind of an arm does Malcolm have?