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Good morning. This should be a good week for EEGC/GSLM. Money is in the process of being delivered and then we take off on other things that rely on that money.
Be alert. The world needs more lerts. Fill out an application to become a lert.
Roger has been doing a beautiful job of updating the IBOX. Check it out.
Its not company news as such, its an article that is suppose to be published about the company. As yet it has not happened. The article was based on a rumor and till it happens that's all that it is, a rumor.
EEGC for me thanks
Reprint of article in the Mercury newspaper dated May 17, 2010:
Empire Energy: Moving forward on Tasmania exploration
Energy and Resources Minister signed off on exploration licensing for prospective oil wells said to contain 447 million barrels
Andrea Marino | Mon May 17, 2010
TAGS: Australia, Oil and Gas Exploration, oil drilling, oil exploration industry, Tasmania
Empire Energy: Moving forward on Tasmania exploration
Empire Energy Corporation
Empire Energy Corporation International, an oil and gas exploration company and subsidiary of Great South Land Minerals Ltd. (GSLM), received the go-ahead to continue on with its Tasmania Basin exploration license, EL14/2009. Honorable Bryan Green, the minister for Energy and Resources signed the documents, signifying the license has been officially issued and is in full effect.
The CEO of Empire and GSLM Malcolm Bendall stated, "This is excellent news for Empire. We want to thank the Minister for signing the exploration license to allow us to continue our exploration and development work. We look forward to working with the Minister to create the petroleum industry in Tasmania.”
The Company plans to expand its exploration work by utilizing the most advanced tools, on prospectively prosperous wells. Mr. Bendall explained, “To further this exploration work, Empire has signed a conditional contract with GEFCO Inc. of Enid, Oklahoma for a state-of-the-art, truck mounted, GEFCO SS-1100 drilling rig, with a capability to drill both vertically and horizontally to 15,000 feet (4572m). A GEFCO 185 rig, previously bought by Empire for $1.3 million, shipped to Tasmania and converted to Australian specifications, has since successfully drilled a well to 7874 feet (2400m) and a total of 28 miles (45km) of drill holes, on mainland Australia.”
Mr. Bendall’s outlook on the continuous exploration program is positive in regard to the amount of oil expected to be found and the future of oil prices to come. He said, “Empire is now poised to drill our two main domes at Bellevue and Thunderbolt, which independent consultants have estimated could contain 447 million barrels of oil. This undiscovered prospective resource has been valued at $2.2 billion dollars by independent experts who assumed a value discounted to $5 a barrel. At today’s oil price of $70 per barrel this would potentially be a gross in-ground value of $31 billion."
Empire Energy Corporation is currently operating in the central and northern basins of Tasmania and is focused on developing assets in one of the world's last virgin basins. The Company’s goal is to become a leader in finding low-cost hydrocarbons.
Reprint of article printed in Mercury newspaper September 7, 2010:
ALLY GLAETZER | September 07, 2010 08.13am
TASMANIAN oil exploration company Great South Land Minerals has blamed the global financial crisis for stalling its drilling plans.
The company has spent an estimated $50 million searching the Central Highlands for oil after its founder had a "vision" from God alerting him to the potential.
GSLM has once again told shareholders it is close to recommencing drilling operations, promising that funding is almost secure and a new drill rig is en route from the US.
The company is in the midst of a legal dispute with the operator of the previous drill rig it hired, Adelaide contracting company Hunt Energy.
Hunt's drill rig was first sent to Bellevue, near Bronte Park, in late 2008, but sat idle for months before being removed.
The contractor has accused GSLM of failing to pay all of its debts, which GSLM disputes.
GSLM's previous exploration licence expired last September but in May the Tasmanian Government issued it with a new permit covering a much smaller area.
GSLM's Hobart-based chief geologist Clive Burrett said company founder Malcolm Bendall was in New York securing finance for the drilling program.
Dr Burrett said a drill rig from Oklahoma would arrive in the "next month or so" and drilling would begin some time after that.
The Hobart office was running with a skeleton staff of about six people until finance came through.
It may sound like deja vu for investors who were told drilling was imminent in 2008. But Dr Burrett defended the delay.
"We were going to start drilling the day Lehman Brothers went down in New York. Now things are different, there's plenty of money around," he said.
The annual report of GSLM's parent company Empire Energy states Mr Bendall's CEO salary is $216,000.
But Dr Burrett said Mr Bendall was not actually taking money from the company.
"Many of the staff are not taking salaries or being paid. We're taking shares because we've got great faith this is going to happen," he said.
Manning the Great South Land Minerals Hobart office yesterday are, from left, Mohammad Adabi, Gerry Murrell, Graeme Devlin, Paul Heath and Clive Burrett.
EEGC Press Release is overdue. I don't know why the delay. There could be many reasons and I can't begin to speculate. It will come, just when, I don't know. It could be as early as minutes or next week. Be patient. There is also suppose to be a strong article in the Mercury that has not yet shown up. I don't know why but the big paper is on Sunday. I hope its there.
Be careful if you find oil on the floor of the garage you have a problem
Lets keep the oil on this planet. It takes too much to go to the moon. Don't discount the medical waste and our share a needle program. Credit cards are good also because when people buy the medical waste they can charge it and we make money. Flare gas is good also as long as you don't light a match when you release it.
I have discovered oil in the garage on a shelf so I'm good.
Check the Sunday edition
With all the crap going on in the world this is a reminder that there are fine honorable people that love this country and fort to keep it safe for all who cherish freedom:
You Would Never Have Guessed
Captain Kangaroo passed away on January 23, 2004 at age 76 , which is odd, because he always looked to be 76. (DOB: 6/27/34 ) His death reminded me of the following story.
Some people have been a bit offended that the actor, Lee Marvin, is buried in a grave alongside 3 and 4-star generals at Arlington National Cemetery His marker gives his name, rank (PVT) and service (USMC). Nothing else. Here's a guy who was only a famous movie star who served his time, why the heck does he rate burial with these guys? Well, following is the amazing answer:
I always liked Lee Marvin, but didn't know the extent of his Corps experiences.
In a time when many Hollywood stars served their country in the armed forces often in rear echelon posts where they were carefully protected, only to be trotted out to perform for the cameras in war bond promotions, Lee Marvin was a genuine hero. He won the Navy Cross at Iwo Jima There is only one higher Naval award... the Medal Of Honor!
If that is a surprising comment on the true character of the man, he credits his sergeant with an even greater show of bravery.
Dialog from "The Tonight Show with Johnny Carson": His guest was Lee Marvin... Johnny said, "Lee, I'll bet a lot of people are unaware that you were a Marine in the initial landing at Iwo Jima ..and that during the course of that action you earned the Navy Cross and were severely wounded."
Image removed by sender.
"Yeah, yeah... I got shot square in the bottom and they gave me the Cross for securing a hot spot about halfway up Suribachi. Bad thing about getting shot up on a mountain is guys getting shot hauling you down. But, Johnny, at Iwo , I served under the bravest man I ever knew... We both got the Cross the same day, but what he did for his Cross made mine look cheap in comparison. That dumb guy actually stood up on Red beach and directed his troops to move forward and get the hell off the beach.. Bullets flying by, with mortar rounds landing everywhere and he stood there as the main target of gunfire so that he could get his men to safety. He did this on more than one occasion because his men's safety was more important than his own life.
That Sergeant and I have been lifelong friends. When they brought me off Suribachi we passed the Sergeant and he lit a smoke and passed it to me, lying on my belly on the litter and said, "Where'd they get you Lee?" "Well Bob.... if you make it home before me, tell Mom to sell the outhouse!"
Johnny, I'm not lying, Sergeant Keeshan was the bravest man I ever knew.
The Sergeant's name is Bob Keeshan. You and the world know him as Captain Kangaroo."
On another note, there was this wimpy little man (who passed away) on PBS, gentle and quiet. Mr. Rogers is another of those you would least suspect of being anything but what he now portrays to our youth. But Mr. Rogers was a U.S. Navy Seal, combat-proven in Vietnam with over twenty-five confirmed kills to his name. He wore a long-sleeved sweater on TV, to cover the many tattoos on his forearm and biceps. He was a master in small arms and hand-to-hand combat, able to disarm or kill in a heartbeat
After the war Mr. Rogers became an ordained Presbyterian minister and therefore a pacifist. Vowing to never harm another human and also dedicating the rest of his life to trying to help lead children on the right path in life... He hid away the tattoos and his past life and won our hearts with his quiet wit and charm..
America's real heroes don't flaunt what they did; they quietly go about their day-to-day lives, doing what they do best. They earned our respect and the freedoms that we all enjoy.
Look around and see if you can find one of those heroes in your midst.
Often, they are the ones you'd least suspect, but would most like to have on your side if anything ever happened.
Take the time to thank anyone that has fought for our freedom. With encouragement they could be the next Captain Kangaroo or Mr. Rogers..
I said more then I should have. Its suppose to be a surprise. What would be the fun if you knew in advance of some coming event. Don't you think a happy surprise is a nice event. I wonder if they will have a cake with candles you could blow out. Hmmm I have to suggest that.
You are asking the wrong question. Its not weather they will pay the dividend but when.
Actually the dividend has nothing to do with the oil find!
Its estimated at $1 a share per quarter for the flare gas only.
EEGC dividend is a death blow to shorters:
Here is how it works;
There is an exact amount of shares that are outstanding. Naked shorted shares add to the volume of shares but are fake or illegal.
If a dividend is declared its based on the outstanding shares.
Example: $1 dividend for 1 million shares = a company payout of $1 million dollars. However add in the naked shorts and the brokers will have accounts of say 2 million shares. Comes payout time the brokers or share holders receive $1 million so there is a short fall of $1 million that the share holders are entitled to. Who makes up the short fall? The brokers are responsible for the payment but don't think for one minute they are going to pay it. No way! They will go after the market makers and seek restitution. Thats why they will cover and cause a run on the stock price. Law of supply and demand takes over and large demand and short supply means price goes up. Enjoy this picture. The covering can also be caused by other methods then a dividend.
The end of the week looks very promising for news.
Hint! Keep an eye open for an article in the Mercury News paper coming around this week end
EEGC has big news coming! I heard it on the grape vine! Its a fact grapes do talk.
EEGC: Not just an oil company any more!
Come grow with us and join our future wealth club
The company is moving ahead with climbing exposure:
The October 16th pro-am event will be recorded for Comcast's video-on-demand service (VOD) in the Mountain West region. Additional bouts on the fight card will be announced in the near future.
EEGC has several wealthy investors and the list continues to grow. We are not just an oil company any more.
we are into:
* Oil exploration
* Flare Gas recovery
* Medical waste recycling
* Credit Card finance
You are watching the making of a huge corporation. Come grow with us.
Congratulations to Roger Wilco as the new Moderator of the EEGC message board.
The $12 million fee will be deducted from the first payment of the $180 million.
EEGC is not the only one with recapturing waste gas. BUT! Theirs is the best.
A simple telephone call to a company like Exxon, Shell, BP, or even Russian Luke oil will get you the answer you are not looking for. And that's why you won't call. Actually you don't have to do anything, just wait about 2 weeks.
The report only posts 5% of the O/S shares. To date thats about a little over 20 million shares. I know he has a ton of shares.
Yes it does exist and I'll go you one better. You prove it doesn't exist. Call any producing oil company and ask them.
You want a link to show it exists? How about actually seeing it with your own eyes. Ride through Oklahoma, Texas, Pennsylvania, New Jersey and when tall towers at the oil refineries appear, look up and you will see flames shooting out of the top. If no flames they are capturing the waste and process. I am sure you will find the same picture in every country that produces oil.
I don't have links for anything. If people don't believe what I say I have no problem with that...Its their Problem.
Here is a link you can post.Yes there is a Flare Gas technology and EEGC has the rights to North and South America. Your link is me! If you look back at one of the past PRs you will notice the company is in talks to secure $300,000,000 for equipment and marketing. Stay tuned and pass the word to all your doubting Thomas friends. It has a market value estimated at $2,800,000,000.
Divide 413,000,000 shares into $2,800,000,000 and it looks to me to be $6.78 a share. Oh by the way that is annually. Without factoring in price earnings ratio. Who knows what that would bring the value of a share to? This is not new to the oil world. There are many companies involved it a similar process but I am told ours is the best by far. The process, I am told, Allows the gas to be recaptured and turn into liquid collected and sold around the world. It cuts back on pollution and also allows for tax credits in the U.S. I am working on collecting cow gas but haven't figured out how to keep them still long enough to collect it. Its a stinking job but someone has to do it.
I can't promise we will strike a quantity of Oil that can be commercialized. From all indications I have seen and heard from the people that are experts in the business they say yes there is oil there. We will know in short order and we will have a fantastic Christmas or just a great Christmas. Time will tell. Mark Callaway seemed to think we have oil big time and I trust in his judgment.
Soon we will know that drilling will start or eegc will bust.
Yes, soon we will know of oil and the scheduled drilling, But No, even if we don't find oil EEGC is not a bust by any means.
Flare Gas alone is worth between $6 to $7 a share with out PER.
The Medical waste business is a big hit and generates a lot of cash.
Last but not least we have the credit card business.
There is a lot to look forward to with EEGC as an investment. We are not just an oil company any more.
Earnie, Tap into your resources and tell us what to expect with EEGC. With all your expertise and wired into the company we wait for your advise.
What makes you think they don't?
EEGC for me thanks
Frustrating as it seems EEGC is moving ahead. Everybody wants results, me too! There are people that hate Malcolm and I don't know why. I can tell you if I were CEO of this company I couldn't hold a candle to the job Malcolm has done. First I know nothing about oil and Malcolm does, Second he has a staff and continues to build the staff with top talent and their expertise runs from Geology to finance and people that know drilling. I am glad I am not running this company and happy Malcolm is. He knows Tasmania and the people in the Government. He was able to secure a lease for two exceptional sites and is close to getting the remainder of the sites restored. I know the frustration people feel but you have to understand what Malcolm has had to work with. The Government has imposed many restrictions on the lease due to the environment and the biggest is money. Yes money is the answer to all our problems and thank the persevering of Malcolm and his staff they are raising enough money to drill 11 or more wells. that means that every time they drill a well they don't have to look for more money and start the process all over again. The high score of bring in an active well lies in the preparation and as our critics point out we spent $50 million to get to this point. they have accumulated huge amounts of data and are in the process of starting the drilling. You will see PRs shortly about where we are in the program. I can't tell you timing but all looks great. So hold off on your frustration and have a little more patience and results will become apparent.
Well if you don't trust management the smart thing to do is get out of that investment. Isn't it funny that there are more people that do trust Malcolm because there are people buying the stock. Go figure.
No thats not what I said. The costs besides the commission are small and were looped in with the $12 million. These costs are very short term and are tiny compared to the commission. Its pocket money and of no concern.
The insurance policy is a different cost and has nothing to do with the commission. It is as I stated.
Using the same formula used on Bellevue and Thunderbolt we would need to drill an additional 220 wells on the remaining domes. That makes the total at about 654 wells over about a 30 year period.
This is staggering information about how many wells will be required to drill Bellevue and Thunderbolt;
Taken from the RPS report of December 2009 using a 40 acre pool for each well it would take using a mean area of the reservoir of 58 sq km,360 vertical wells would be required for Bellevue and Thunderbolt would require 74 vertical wells. As you can see from the report Bellevue is almost 5 times larger then Thunderbolt and together it is estimated to require 434 wells. It is estimated that it will take less than 30 years.
Keep in mind that this is just 2 sites and we will have many more sites to consider should MRT decide to reinstate the domes omitted.
So what does this all mean in English? It means that should we strike oil we will be FILTHY RICH!
To raise capital via a bond sale or IPO (Initial Public Offering) The marketing institution sells the product, (Bonds, or stock as the case may be) and for this service they get a commission. That commission is subtracted from the proceeds and the balance is sent on to the company. If you are under the impression that the company has to come up with $12 million for this to happen...that's incorrect, they don't. This is the way Wall Street has been doing it from the beginning. Logic would tell you if they had to come up with $12 million to do the deal they would not have to do the deal in the first place because they would have $12 million. The source of all the money is from the bonds.