Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This is not illegal information in the US.
You can get the top 20 % investors of a listed company on all the major exchanges. With the Pinks , it is not a requirement for them to lodge this info. Hence, Shady Pinks.
I have been here all year supporting EEGC and closely watching and monitoring all options that are left for us. I start ringing alarm bells when I have realised that we are nearly check mate and MB's apparent Greed (if he has financing as stated in PR) to scoop up 40% of the company is putting all of our, and your investment at risk by Hunt leaving, I then cop this Shi#.
Please.
The top 20% will let us know what is going on.
Heck, don't show it to us, at least check it yourself and see who is on there.
P.S.
The competition is not here trying to derail EEGC.
They are waiting to see EEGC fail to drill and the License expire, then they will apply with MRT and see who aquires a new SEL. IMO. Looks like they have no need to meddle right now.
I am concerned of that happening.
If there is finance as stated, the Rights offering should be in tandem with drilling.
Sorry Mate, EEGC is a US Company with their offices in the US. Only GSLM in Tasmania and they have no idea.
I am pretty sure everyone here knows I am asking legitimate questions and I am not telling everyone to go and have a beer and Fgetaboutit!!
The only way we can get the top 20 out of a Pinky is from Mngmnt and you guys have always said you talk regularly with them.
Am I being rude ??
My reasoning is to see who was buying the 33 mil shares the past 2 weeks etc etc...
Thanks.
That information is readily available in Australia and is used by many investors here. You can get the top 20 % holders of any publicly listed company here. Hence the term, Publicly Listed. If the investors want to remain anonymous, they can take precautions by using unsearchable entities.
The good old Pinkies in the US allow Shady Harbouring and reporting. That is why I asked our moderators if they could kindly get in touch with Mngmnt to provide this info if there is nothing to hide.
Don't worry boys, I could easily buy out the current Mrkt Cap of EEGC but I am not interested in doing that. Just want to see the up to date Top 20.
I have not done anything wrong to receive a private posts from a moderator on this board that I will be banished from this board.
If I am, all moderators will be replaced.
I want to note to everybody that in the past I have used the word Placement instead of Rights Offering.
Please take note as I get a little mixed up sometimes with all the US/AUS market jargon.
P.S. I believe I have seen the word Placement in a PR somewhere, anyway.
Howard,
Cmon...
OK, and EEGC (MB) could not raise US$800k !!!!!!!
To drill Blvw.
No Howard,
The day Smart Win walked, I think they wanted a further AU$800k to $AU1.3mil to complete Blvw. US$ was approx 62c then, so lets say US$800k.
C,mon.
The CSG is something I would of applied for too, as to all the investment in that sector in Aus right now.
The failure to comment on that issue right now from Mngmnt and all the stalling has made me to comment otherwise.
" this is a fast moving company "
Please,...
If every one here stops supporting this nonsense right now from Mngmnt and risking everybody's investment in this company for an un-orthodox agenda, we would not be talking like this right now.
As I have said before, 1-3 mill was a nobrainer to get in Jan to drill . Placement would of been successful. EEGC would now of completed 5 wells by now with the raising.
Reason for all this.
EEGC has info of Blvw to being a high probability and insiders are running the the stock in to the ground as long as they can to accumulate as many shares as possible at the low of the stock. The talk about accumulating all of the placement and the unsubscribed shares from placement says it all.
I would like to see current as of today all top 20+ holders in EEGC from Mngmnt to alleviate any doubts.
& placement should coincide with drilling.
SELLING SECURITY HOLDERS
The following table sets forth the shares beneficially owned, as of the date of this prospectus, by the selling stockholders prior to the offering contemplated by this prospectus, the number of shares each selling stockholder is offering by this prospectus and the number of shares which each selling stockholder would own beneficially if all such offered shares are sold. Except as expressly set forth below, none of the selling stockholders is known to us to be a registered broker-dealer or an affiliate of a registered broker-dealer. Each of the selling stockholders has acquired his, her or its shares solely for investment and not with a view to or for resale or distribution of such securities. Beneficial ownership is determined in accordance with SEC rules and includes voting or investment power with respect to the securities.
(1)
Percentage calculated on the basis of 287,393,190 share of Class A common stock outstanding as of May 26, 2009.
(2)
Assumes the sale of all shares of Class A common stock registered pursuant to this prospectus, although the selling stockholders are under no obligations known to us to sell any shares of Class A common stock at this time.
(3)
Smart Win International Ltd. is a newly formed partnership between New Times Group Holdings LTD and Genesis Energy Holdings Ltd. both publicly traded entities located in the People's Republic of China with offices located at unit 2003 -- 06 Shui On Centre, 6-- 8 Harbour Rd, Wanchai, Hong Kong. Shares are held in escrow as collateral for Secured Note Payable.
(4)
Mr. Bendall is a director and CEO of both Empire and GSLM. Mr. Bendall also beneficially owns the 32 million shares being registered for sale by Smart Win International Ltd. should Smart Win execute against the guarantee provided by Mr. Bendall on behalf of Empire to collect The Senior Secured Note dated July 17, 2008. Mr. Bendall holds directly 25,850,000 shares, has the right to convert debt owed to him by the company into up to 7.4 million shares of common stock, and holds options to acquire 4 million shares at a price of AU$0.20. Shares held by Bendall Trust could be attributed to Mr. Bendall.
(5)
Credit Suisse holds these shares as collateral pursuant to a loan agreement entered into in September 2008 with our CEO Malcolm Bendall. The shares may only be sold upon a default by Mr. Bendall pursuant to the terms of his loan agreement with Credit Suisse.
(6)
RAB Special Situations (Master) Fund Limited holds 14, 075,000 shares of common stock, a 6% convertible debenture exercisable to acquire 21,428,571 shares of common stock, Class A Warrants exercisable to acquire 8,550,000 shares of common stock, Class B Warrants exercisable to acquire 5,000,000 shares of common stock and Class C Warrants exercisable to acquire 7,500,000shares of common stock. The convertible debenture , Class A Warrants, Class B Warrants and Class C Warrants have restrictions on conversion or exercise and the holder’s beneficial ownership interest may not exceed 9.99% of the issuer’s issued and outstanding voting securities at the time of any conversion or exercise. These securities are registered in the custodial account of Credit Suisse Securities (USA) LLC and Phillip Richard as fund manager has investment and voting control over these securities. The securities held by RAB Special Situations (Master) Fund Limited were substantially acquired in March 2006 in private placements reliant on the safe harbor from registration provided by Regulation S and amended and extended as disclosed on our Form 10-K for the year ending December 31, 2008.
(7)
Mr. Simpson holds shares both directly and in the name of Terralinna Pty Ltd. TTEE FBO Phillips Simpson Family Trust. Mr. Simpson holds 6,984,579 shares, has a Warrant to Acquire 7,000,000 shares of common stock at a price of US$0.07, and holds options to acquire 400,000 shares at a price of AU$0.20. Mr. Simpson is also a beneficiary of Kingdom Securities Ltd which holds 8,050,000 shares of common stock.
(8)
Shares are held as collateral for amounts due under trade payables, and notes payable. Total of 55 million shares are held as collateral but are not considered outstanding at the date of this filing. Should the company default on the debt obligations, the shares could be released and could be sold under this registration.
(9)
The securities held by Dave West were acquired in December 2008 in private placements reliant on the safe harbor from registration provided by Regulation S.
(10)
The shareholder received its shares in consideration of public relations services rendered to Empire Energy in 2008 and 2009.
(11)
The shareholder received the shares in merger acquisition transaction in April 2009.
(12)
The ultimate beneficial owner of the Mackay Limited Partnership is Mr. Tad Ballantyne, a director of Empire Energy.
(13)
Mr. Frank Bachinsky is the ultimate beneficial owner of Avalor Capital, LLC. Avalor Capital has the right to acquire 763,300 shares of common stock upon exercise of a warrant acquired in a private placement as compensation.
PLAN OF DISTRIBUTION
The selling stockholders may, from time to time, sell any or all of their shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions. If the shares of common stock are sold through underwriters or broker-dealers, the selling stockholders will be responsible for underwriting discounts or commission or agent’s commissions. These sales may be at fixed prices, at prevailing market prices at the time of the sale, at varying prices determined at the time of sale, or negotiated prices. The selling stockholders may use any one or more of the following methods when selling shares:
Standard practice for publicly listed companies. Information you relinquish when you list to take advantage of public money !!
If you want to hide your identity, you need to camouflage yourself through Trusts, Corporate Trusts, Nominee ACC's ETC, ETC.
That's How I invest.
If you use a plain vanilla company to invest with, you can perform searches to see who are the directors and shareholders.
Dear Howard, TallRob0, ThePennyguru, Momoore3, Roger Wilco
How do we get a list of the current top 20 shareholders in EEGC as to ascertain who is on the registry after the past couple weeks.
I don't want to personally ring EEGC or GSLM and I am sure every one would like to know.
Howard,
How do we get a list of the current top 20 shareholders in EEGC as to ascertain who is on the registry after the past couple weeks.
I don't want to personally ring EEGC or GSLM and I am sure every one would like to know.
Thanks mate, but there are others that understand MRT better than me.
I am a private investor/entrepreneur that likes to remain anonymous.
I could find someone for you.
Cheers.
My point is that EEGC could of easily raised between 1-3 mill in Jan to get 2 wells drilled. The placement would of been 100% subscribed and we would now have AU$12Mill to play with and probably would of drilled 5 wells. I am here for those 5, no more.
Don't forget that Hunts major expense was to get them in Tassie which Smart Win paid for.
EEGC doesn't need 50 mill, it never did. Only MB will need a chunk of it (US$8mill) to be a 40% holder and to explore SEL 4 & 5.
I would rather see my investment go to 0 than watch this play out with no Placement together with drilling.
Howard,
The placement was a so called gift to shareholders to excercise at their will after drilling had started to compensate the waiting for so many years. I for one have been invested for many years and came out of the wood works to this board when it was offered to see what was going on.
The short fall in Jan to complete Blvw would of easily been raised to drill if EEGC wanted to, but looks like something else is in the wood works. I believe the Sec will see straight through this and the reason for why they have not approved this yet. If they do I believe it will only be allowed if the drilling has commenced at Blvw. I doubt that MB would get a $50m LOC just for his looks. It is for the ability to drill and possibly increase his % in EEGC. The raising was for a multi drilling campaign to do multi wells and not for 1 or 2 wells in the time we have left.
Once again, I am not for the placement to begin without drilling, It should happen simultaneously as it will give us an opportunity to increase our % when the head is finally spinning. If MB has the dough, he can begin drilling and he can get his money back from the placement as it will be subscribed 100%.
My regular Sunday reading Forum.
Wow.Fancy Tasmania having this problem.
AAP
June 28, 2009 9:40pm
IRAQ is this week due to unveil which foreign firms have won contracts to develop its oil and gas fields, nearly four decades after Saddam Hussein's party nationalised the country's energy infrastructure.
The deals, likely to be announced live on television, will provide the government with much-needed revenue as it struggles to rebuild the country after three wars and 20 years of debilitating economic sanctions.
The event, originally billed to last for two days starting tomorrow, was unexpectedly delayed by one day due to sandstorms that prevented oil company representatives and international media from landing in Baghdad today.
"The meeting will now start on Tuesday and if necessary continue into the following day,'' oil ministry spokesman Assem Jihad said.
Thirty-one companies have submitted bids to develop six giant oil fields and two gas fields. The oil deposits, holding known reserves of 43 billion barrels of crude, are in southern and northern Iraq while the gas concessions are west and northeast of Baghdad.
"Our principal objective is to increase our oil production from 2.4 million barrels per day to more than four million in the next five years,'' Oil Minister Hussein al-Shahristani said in an interview with Iraqi public television.
Increasing production to that level will, according to him, pump an extra $US1.7 trillion ($2.11 trillion) into government coffers over the next 20 years.
Mr Shahristani has said that only $US30 billion ($37.31 billion) of that sum will go to the companies that have extracted the oil.
http://www.centralpetroleum.com.au/
ASX exchange- CTP
I have a modest bankroll aside for pennies and I own a handful of these myself.
P.S.
I don't think if/when he gets the approval for the rights offering it would be wise to implement a capitalist strategy that you have mentioned, as it will be seen that he had financing in place and withheld drilling to keep PPS down so that investors prior DEC 18 (including myself) do not excercise our placement rights so that he may allocate more for himself. SEC will definitely find him anywhere globally and lock him up. Even under your private protection squad and you placed him in a rabbit hole somewhere in Dunga Ninga. Ha Ha.
Cheers.
Sorry, height of Blvw in latest PR, 1070m.
Definitely snows there.
Some one asked if it snows in Hobart.
During winter it may snow at sea level but never settles.Mt Wellington at a height of 1271m AMSL is covered quite regularly on a cold year during winter. Heck, not too long ago, Hobart had a white Christmas on Mt Wellington in the middle of summer on Christmas Day.The Midlands is elevated in the vicinity of the drill sites. Oatlands is approx 409m AMSL.Bothwell is 336 AMSL. Bronte Heights is 712m AMSL. Don't know exact height at Blvue, but when you see snow on Mt Wellington in Hobart, there would definitely be snow there as Mt Wellington is coastal. It will get colder from now on as it gets into the second half of winter as the Earth acts as a heat sink and it takes a while to cool down from summer and begin to hold the effects from winter. It is the opposite for summer also, that's why it is hotter towards the end of summer.
http://abc.com.au/news/photos/2009/06/12/2596546.htm
The stock will definitely go way over 7 cents while drilling, I say about 21-30 or higher depending on advertising hype.
That's more than 3 times.
http://www.centralpetroleum.com.au/
Howard, is this post of yours correct?
"The way I see it is the SEC gives approval next week or the following week, then notification goes out to the rights offering eligible and Malcolm buys 12,500,000 at 7 cents. 30days after SEC approval and the offering expires Malcolm buy up all the unsubscribed shares. Once the Offering has expired the drilling begins. Then we strike oil, Then Malcolm Becomes King of Tasmania and I get drunk for a month, maybe two."
You are condoning that MB buys all and will definitely get all of the unsubscribed shares as the price will be about US$.02 c and then drill!!
That's not right as he knows that financing is 100% and we do not know if it is true. Then he sells and makes a fortune before a strike while drilling. Is that why he is risking all waiting for the placement approval.
Ok, all your points are valid.
Tell me
What would Hunt do if a company in their backyard is putting out tenders to drill about 12-20 holes in the next 6-8 months with over 30mill in their acc now just for drilling, and the top 20 investors in the company are institutional and multi millionaires from mining.
I know what I would be doing.
Bendall needs to act now.
No more strategizing. He is nearly checkmate.
Hunt goes, that's it.
I don,t think the SEC will approve the placement and if they do it will be too late.His only chance to raise funds when drilling to pay back loans is to get the approval to sell shares from the company coffers or his own for a lifestyle to live happily ever after if the wells come dry.
If EEGC cannot get a time extension or a new SEL after SEL 13/98 expires, we have nothing.
If EEGC gets either of the two, it doesn't matter if Hunt leaves the State at all. After all, Smart Win paid for their expenses so far for mobilization.
My concern has been Hunt. I have been looking around for a while if there would be a need for Hunt No 3 as it would of affected the rig movements. Hence the CTP issue I have brought up in the past but did not want to mention anything. They just had a successful capital raising for drilling and their first well looks like it will be the one for oil at Johnstone (estimated 998 mill brrls, Gore data predicts that the well will not be a dry hole by 90%) which Hunt would be tendering for and use Rig No 3.(P.S. I must disclose that I have a large Investment there also)
I believe there are 4 reasons for their mobilization to Launceston.
The Pr states that the mast has only been transported, but I find that odd, and if they are tendering for a deeper drill well they would still have to do some mods.
Explanations.
1. MB explanation in PR is true and correct.
2. Tendering for job with CTP and getting ready to do some mods and Transport.
3.Hunt threatening EEGC again but not allowed to make public as it will affect share price and cause lawsuits.
4.(Highly unlikely but..)Have been in talks with other parties that will be apllying to take over after EEGC time lapse and will probably be drilling elsewhere in Tasmania first as to not look like they have taken advantage.
If only AU$1.3 mill was needed to drill Blvue, MB could of come up with that easily way early on and if successful at Blvue no capital raising was needed at all and the share placement would of happened instantly when drilling was in progress. If the placement had not been approved yet by SEC then the share holders pre Dec 18 would of had the option later on after the outcome of Blvue. But MB knows that there is a possibility of a dry hole and wants the placement to happen while drilling and I bet the hole would of taken longer than 30 days to drill to full depth.
He is playing poker with our investment and is not acting to the benefit of the shareholders here right now as there is a possibility that we will get nothing.I have been watching his risky strategy since Jan but now he has no way out unless a green martian lands from Mars. He doesn't want to end up with nothing after a dry hole, so he is willing to gamble everything right now in waiting for the SEC approval for placement to raise funds while drilling Blvw and hoping at the same time that Hunt stays in the State. If Hunt wins a contract elsewhere, Bye Bye. He will not find anyone to get here in time before Sep 30. The idea of an SEC approval to sell shares also in the latest PR indicates that he may proceed to drill if the Placement is denied by the SEC so he will probably be cashing out shares instead to raise funds while drilling.
If the cards were played differently in Jan after the Smart Win saga, things would be different.
Greedy, Greedy.
He wants over allotment also.
I hope I am wrong, but that's how I see it.
P.S.I agree with the CSG play by him as I would of done the same to get it included as it is becoming a valuable commodity.
JMO
Have faith MB, after all, that's why you are drilling for oil in Tasmania in the first place.
P.S. I am in a rush, I have gone through this quickly, but I will check it again later on just in case I have made an error somewhere.
Cheers.
I think Hunt is pulling one over MB or MB over his investors.
Hunts No 3 rig is needed on the Mainland Australia. For example, CTP needs to drill a 3000m-4000m hole and Hunt Rig No 2 is not good enough.
If it needs winter gear it can be fitted on site, the bloody thing was erected and put together there.If the mast has been used in Antarctica before then the parts have already been retrofitted before.
So much for false rumors.
What is going on with SEL 13/98 and CSG inclusion??
And whats this all about ??
" Registration Statements
The Registration Statement filed with the SEC in April to allow resale of certain shares has progressed through preliminary review and may become effective upon completion of final legal opinion and consents. "
Has nothing to do with the rights issue.
If this is going down the way it looks, I'll apply for a new SEL 13/2009 and drill the bloody wells myself.
Where is Callaway ??
Relax mate, nothing personal here.
I am on break, this is fun.
"No more shenanigans, and silly speculation"
No, not really.
I provided you guys with a news release of MRT relaxing rules on explorers on ERA's but the news release also noted that they would look at all situations.
"However, the Government is aware of the severity of the downturn, and will consider applications for exemption from certain licence conditions."
Also, no one else here has explained anything about how the MRT works or any info from them.
I suggest if you cannot handle info that is freely available, go down to the pub for a drink.
EEGC has their data and exact drill sites.
I would much rather prefer no funding announcement and a rushed drill start, but rather a favorable outcome from MRT for a time extension due to the financial turmoil globally and especially the exploration sector which expenditure is down 52% which will cripple world supplies in the future. Or even if EEGC is in talks with MRT for relinquishing SEL 13/98 and establishing a new SEL at a reduced size that will hold all of EEGC prospective drill sites. That is normal practice with explorers.
If this is obtained, the PPS will rise without funding approval as time is of the essence right now and then funding will be much easier to obtain.
Heck, if we had time, I would go with the rights issue right now at the current PPS if a plan was laid out with the AU$12 mill raised, just to see all wells drilled.(fixed price from Hunt of course and money put aside by an independent arbitrator)
Does anyone have any contact details for Mr Callaway ??
Any way,
There is no bank in the world that will issue a Credit Line of that size or even 10% of that amount without security. Especially with banks/financial institutions new Basel II lending criteria.
If so, someone has put down hard assets to be leveraged off.
Who ?? Someone has assets overseas.
We don't need 50 mill.
I find it impossible for an investor to have invested with the time remaining. 4 or 5 mill is more probable to get the 2 wells drilled.
Agreed Ogmios, it takes a while to set up a Credit Line from a financial institution. Once it is set up, you can withdraw funds into another acc like cash.
When you are transferring over US$10k ( or AU$10k which is stupid on the Australian Gov behalf as it is much less than US equivalent) it takes longer than same day or 24 hr period for that matter.
If you have set up acc's with affiliated banks across countries for large amounts it can take apprx 24hrs.
Wow!!
Maybe I should get them some contacts with my bank managers.
I have transferred a buck or two (large amounts).
36 to 48 Hours including conversion as long as the accounts in both countries are in the same name(entity) and have a TFN.
Banks also have affiliated/sister banks in each country which makes this process more efficient.
Anguish is created when you expect the unexpected and having a beer to fool yourself.
Cheers.
For them not to get approval, MRT is concerned with their ability to fund exploration efficiently.
If EEGC finances change, then MRT would look upon them favorably I presume.
Walk before you run.
Sorry Howard, but with all due respect I have not always been wrong. If anything I post relevant facts and probable variables.
I am sure every one appreciates what I post.
But I do agree that we can do nothing but wait for Mngmnt PR right now.
We cannot just gag ourselves and have a beer. Might as well go to the pub instead of posting.
Something is going on in the Gov and MRT. EEGC has fulfilled their expenditure for SEL 13/98. Ok some people have grudges against Mngmnt as they have not made them money yet, hence the nature of the business. We have the Greens opposing EEGC for expenditure reasons that were unfounded, whats their role I say. SEL 4 & 5 has been refused which I believe is odd as MB has data collected by himself there and has drilled there personally. There is some understanding from Gov/MRT of the financial crisis which has made EEGC's endeavors to drill from last year very difficult.
Has EEGC been given space to breathe for an extension of time or has a deal been struck to renew and establish a new SEL to cover the prospective drill sites that EEGC has and relinquish unwanted land within SEL 13/98 which is common practice with MRT when time has lapsed with SEL's.
When I do business and want something for example, a building approval; I will go in with way more than I want and come out with much less, but get what I need.
Or are there other forces at play, eg: Majors
Speculating here but always looking for the positive side of things, not the negative as the outcome has positive expectation from within as Mngmnt is always looking for a way to succeed.