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Well yea, apparently!
And the company paid for the bulk, if not ALL of the Hunt bill right out of it's own pocket!
'Er yep, solely because Smartwin bailed, failed, bucked, heehawed and breached their own signed contract. Yep, their own signed contract! Yep, yep as promised to pay Hunt through the company.
More importantly though, is the fact that our Heehaw Smartwin entererd into the JV by failing to timely notify the company as required of their intention to opt out which was just as important as their right to opt in.
Bottom line, what matters is that the deadline came & Smartwin entered into the JV through it's own default.
And yep, Geez, I can hear it all again like a donkey in heat:
Smartwin: But, it was our right to to enter into into the JV!
They are such donkeyheads,
Heehaw
Read my lips.
Two prongs. Not only was Smartwin allowed to opt into the JV as agreed upon they were also required to opt out or accept the JV through their own acquiescience. Which they failed to do. Get it? I'm done. It's clear as this day.
Sounds good and nice mind control.
But, that's about it.
The fact of the matter is Smartwin entered into the JV through it's own acquiescience.
Oh contrare!
The case is ripe for EEGC to move for summary judgment.
First,
Smartwin had a contract to pay 5 million w/ the intent to make money off of drilling for oil. They failed to do so.
Second,
Smartwin had not provided any timely notice to back out of the deadline to enter into a JV. So lol, therefore it appears Smartwin actually entered into the JV!
Third,
Smartwin failed to provide any timely notice of default by EEGC.(obviously because there was none!)
Fourth,
EEGC was acting pursuant to the contract the whole time by providing the lease, drill equipment,etc. and finally because Smartwins' only allegation of being over budget (which can be deemed reasonable under any circumstance) will not outweigh all, let alone any of the above.(see the first cause)
Therefore, I believe the court, through it's reasonable mind and vast discretion will so order any motion as such by the company forthwith.
It will probably and simply cite judicial economy.
Yea, yea.
So freakin' what.
A reasonable mind can find the fact that Empire invoiced for payment from Smartwin for the balance of the budget as well as "over the budget".
https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=QBalbua3m_PLUS_rXrkuzBD0v/Q==&system=prod
It really doesn't matter if Smartwin wanted to pay for the misc. trades as invoiced "over the budget".
If they did great!
If they didn't that's fine too.
However, they had a duty pursuant to the contract to provide for the balance of the budget which they failed to do. Moreover, to date, Smartwin failed to provide notice or show good cause in a timely manner as to why they failed to provide said budget funds.
A reasonable mind could also easily find being "overbudget" insufficient to withhold "budget funds"
LOL!
The company did notify Smartwin in advance. Further, that the drilling would be over budget by approx., .4 million.
You can puzzle over the reasons all you want as to why Smartwin did not want to pay for funds over the budget.
But, the fact remains:
Smartwin was in breach of the contract to pay for not providing for the 1.1 million balance.
I am a little concerned though about Paul stating that no depositions have been taken as it appears to me that all discovery should have been in order by now. And further, that Paul is probably only squacking over what should only amount to no more than 15k in fees that Dude hasn't paid.
The fact remains that the proximate cause why we have not drilled to date is directly related to Smartwins breach. Therefore, I'm not worried too much if someone else finds oil there if the lease is not renewed. Maybe Malcolm's got to reprioritize the importance of the case as that damage (the loss of income, realized or not) would be attributed to Smartwin even w/o a renewed lease.
He'll find a way.
Squeaky wheel gets the grease.
No way Malcolms stepping down.
Everything he personally owns is tied to the Smartwin case and he knows it. Thats why he hired a good attorney in the first place and the fundamentals of Smartwins breach has not changed. Its probably a matter of concentrating the whatever funds are available to preserve the lease and Paul is just getting tired of it. Im sure he'll withdraw the motion upon some grease.
Nah,
Just getting the Hunt Rig back on site is a 10 bagger from here.
Just look at the chart when it was there last!
And then if we hit oil (which could be less than a month away), I'm saying I'll experience my first 100 bagger!
Which would be no big deal really...
Hehe, except for it's just another wise investment!
What I find most evident in the PR is what has not been said.
That is, well being any want for drill funds...
So apparently and...whoohoo!!!... I gather that's water under the bridge!
Or perhaps, its simply a matter of knowing its highly unlikely for NBD to fund w/o a renewal or some assurance from the MRT to proceed as technically and legally the lease expires mid-May?
Mmm, it sure is awful quiet.
Perhaps Malcolm's not willing to let that interest go cheaply knowing the Smartwin money is in the bag?
Yep, it's all at shareholders expense.
And I don't mind paying for it.
However, the reason I was chuckling (hehe, and here once again) was because of Earnie's knowledge of the so-called dilution reports. Oh, and I like the word foisted, too!
And so, yes very funny. Mostly, well actually, his whole post being quite hilarious that he did illicit a response by me...
So, good post, Earnie!
Dilution?
Ha, what 4,5, 600 million shares?
Lol, gives other folks a chance to be wealthy!
Yep, it appears to me there is good cause to believe that alot of the dis and negative information regarding the company could be related to Trenham et al and Shell oil company.
Ok batting, our stock.
Up a whopping 650% in the last 9 months.
And Woohoo, nice pickup!
Looks like we're in a full-fledge breakout, eh?
According to my calculations, (had to use more than just my fingers) my stock has appreciated more than 1000% since June 2011!
Empire Energy.
My sweee,eeet stock.
Interesting...
So much of the "devaluation" going on here.
But, what about being short-sided? Did somebody forget that?
Oh, that's right. I guess that doesn't count.
LOL, as that undoubtedly will actually cost you money!
Great post there crazy.
I like it!
And congratulations to all shareholders!
I have no doubt 2-1/2 pennies will be quarters in a manner of weeks. And then, dollars...
Obviously, Malcolm is acting as there is oil in the Tazzy lease and that oil will pay for the company's growth that he has spelled out.
As such, any shareholder will have invested well as Malcolm is a leader and he has our interests in mind, from pennies to dollars!
Most importantly, he is not utilizing funds for drilling as some here would suggest (which would never happen!) but utilizing the anticipated profits from drilling to finance the planned and successfully tied up future acquisitions. Being, the existing 119 coal patents in Kentucky and the prospective oil from a known basin in East Africa.
Yep, quite the heads up-forward-looking-kinda-guy, he is.
So thankyou, Malcolm. For past, present and future opportunities to be part of a great company.
Hmmm, nothin' eh? Must be the presentation.
In regards just to the coal, I wouldn't want any shareholders to be misinformed around here. So, here's a little something on the Kentucky Coal Valuation. Presently and hereby known as KCV: (hehe, just my own little acronym)
http://www.wardell-armstrong.com/files/casestudy/152.pdf
http://apps.sos.ky.gov/land/nonmilitary/patentseries/cocourtorders/ccoadvsearch2.asp?searchby=grantdte&searchstrg=%25&show=1000&sortby=&order=&page=45&keywordtype=AND&within=&oldsearch=%5Bcounty%5D+LIKE+'%25%25%25'
http://www.secinfo.com/d12Q56.z1a.d.htm
http://162.114.92.72/COA/2006-CA-000128.pdf
I'm thinking Malcolm's got balls!
Where is he going to get 36 million?
Oh!, thats right.
OIL!
...and did I forget the gold?
See, vitrinite reflecterence.
Otherwise known as golly, seismic?
I guess I got that one right, eh?
Bye, bye onezies.
And yes, hello twozies!
Golly, up so much, i'm feeling stupid. Or, is that smart.
Oh well,
Mmm, looks like the company knows where the coal is too. Proprietary stuff, I guess.
After all, having done a large amount of the seismic in Tasmania.
Ooops!
Question,
why would other companies be interested in Tasmanian oil, and coal?
Answer:
Greetings longs,
I'll just pick one, for now...
Some (actually a few) have suggested or informed here that the company lied in a press release where it stated that it had re-acquired Grand Monarch Holdings. Apparently, basing the actual statement of the lie upon the notion that because the re-acquisition was not followed through with an 8k, proves or substantiates the lie.
Well, I don't know about you but I'm thinking one of three things is going on:
1) that information is incorrect.
Or,
2) the source of that information doesn't know what their talking about.
Or,
3) that information is actually a lie.
Therefore, I'll leave it up for you to decide.
Maybe all three applies. Who knows?
Surely, we know that the company trades under the OTC Markets Group Inc - Limited Information.
Also known a the "pink sheets." A tier that does not require disclosure to neither us nor them, a regulator, the exchange or my dog.
However, the fact that the company does disclose (albiet somewhat) puts them under the same regulations as if it was required.
Now, I personally have no doubt that the company has indeed re-acquired GMH simply because they have stated so and further because Mr. David Villareal Jr., chairman of GMH, is currently working for the company!
To state the company is required to disclose the re-acquisition as some sort of "material event" (who knows, is that what they're saying?) in an 8k as proof of the so-called lie is simply ridiculous!
I hope that clears it up a bit...
Take care longs,
Big
Mmm, let me see...
Failure, eh?
Some here are suggesting that Empire failed to perform an agreement?
Because if so, that is where the line is drawn where liability or insurance thereof is picked up. Could also be coined as "negligence"
If negligence is plead it's often more than likely defended by the carrier to nip it in the bud.
However, that's all superfluous. Wasn't the Hunt rig on site and Empire performing while waiting for payment by SmartWin that never came?
Lot's of laughs.
Yep. Keep thinking about SmartWin...
Thinking with a hose stuck in 'em by their own attorney and a bigger one now safely installed by the company it's fair to say that us shareholders should get our pokes too before they just shrivel up, eh batting?
Lol, anybody got a fork?
Hey Longs,
Smartwins got to be feeling extremely stupid by now knowing that the company's defense has more than likely been picked up by it's insurance carrier. That means there could be another law firm (or slew of atty's) besides Paul Baptiste defending the company.
Happens everyday.
And weak, (yep, Smartwin again) as a gift horse after daily being told they have a case while being sucked dry by their own attorney.
Happens everyday.
Hey Longs, geez, what a joke.
More outright false information volleyed at the company.
First, it was stated here (my paraphrasing, of course) that there was no way Empire could get a coal consession as all the coal was tied up by some company named CCI.(sp)
Then, when the company applies for coal, now all the coal in Tazzy is all-of-a-sudden "non-exportable".
Non-exportable? Isn't that a good one, or?
Don't you guys agree how ridiculous that sounds?
These falsehoods must not go uncorrected.
So, to state correctly, below is an example of a new company with a coal consession in Tasmania which is a hop, skip and a jump from Mt. Lloyd and who plans on exclusively exporting their coal which the company could do in kind if-it-just-so-happens-to-choose.
http://www.hardrockcoal.com/coal/
Hope you're all having a good day!
Good post.
Yea, it's good the hear your posts as a fellow shareholder, batting.
And, I must say, you're right on with your take on the company, price, value, etc.
Seems like there is lots of attention of Empire. Both positive and negative statements.
One might postulate such negative information portrayed towards the company as being a means of wrestling the oil out from under it. Or, by control as has occurred in the past w/ Noble Trenham, et al.
It all seems a bit silly to me. But, I can for sure understand such reasoning.
I'd say a good example would be the influence over oil by the Rockefeller Family/Standard Oil which shot down the first electric cars back in the late 1800's and the first vegetable alcohol powered car by Henry Ford in the early 1900's.
And so, imo i'd say the company's seismic data is very compelling alone.
The images clearly show a good probability of large deposits of oil which could have easily been generated by the present basin similar to one's that have generated large quantities in other places in the world. Plus, even though she's a "virgin basin" there are signs of oil, ie: shows, seeps and gas too.
But, what I find most appealing about the company and the reasoning I purchased alot more stock recently is that they have insurance.
Smartwin insurance.
Yep. I repeat, Smartwin insurance. (Gosh, I bet they hate that!)
You see, it only takes a preponderance of the evidence to win a judgment in civil court. Meaning more than 50%. (More than 50. but could be less than 51) That is the standard.
Knowing the law, I'd say the weight is indeed in the companies favor.
I'm very comfortable being a shareholder too, having a good day and I see you are as well.
Take care,
Big
Allright batting!
Yes I do.
I think today is cause for another celebration.
Another Happy Empire Shareholders day. The accomplished sequel.
For all the ardent shareholders that have put up with all the obnoxious talk about the company and past and present personnel and yet have remained as unfeigned as I, you have my warmest regards.
Wholeheartedly yours and have a good day,
Big
Guess what?
Yip, yip and whoohoo!
I hereto pronounce...
Today as Happy Empire Shareholder Day.
In celebration for any Oil, CSG, gold and oops, judgment proceeds too!
And so, heretofrom, I'm thinking that makes a good day to all shareholders like me and for you.
Yes!
One thing for sure about investing in Empire is that it has more potential to see actual LARGE gains than most other stocks out there.
Yea, me too.
I believe the company plans on drilling Mt. Lloyd for both oil and coal with a horizontal rig in order to save on rig mobilization costs. Obviously, to maximise the whole length, breadth and depth of the known/unknown coal seam gas as well as any oil.
The black coal at Mt. Lloyd is not worthless and does not have a high ash content. You are way better off getting your own info rather than relying upon what's being said about the company here.
Nah, nice speculation though:
David Villareal is acting just like I said. I don't know his title. Call him up.
And you might want to read this again: Bold is for affect.
--------------------------------------------------------------------------------
Historically, mines extracted only a fraction of the coal at Mt Lloyd as it was marginally economic to extract and operationally difficult.
--------------------------------------------------------------------------------
Obviously, Empire knows something and as you know, I'm thinking it's standard protocal to be able to show a funding source to MRT. Finally, as has some have suggested, travel to coal can be a natural transition and to take a break for some noodles on the way sounds even better.
Yea, Nirvanaland!
Sorry, It's got to be horrible being out of the loop like that, eh?