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I go to bed last night deciding that I would just hold on and take it like a man. I then wake up in the morning see a bit of a bounce back. I hope we will get to see some more fighting back. Thanks to those (Capt and Howard) who looked at the volume on this and a little more behind it as to what was going on.
That boy Vincent is missing all the fun!
The drill rig guys have their own business to protect and bills to pay. They can't take on payment risk like this.
It would be good to see return for drilling before Sepember and full payment is made.
Malcolm had better sort this out damn quick if he wants to keep his vision. Looks like he just got a wake up call with a dose of hard reality. There could be a bit of play with the media going on to force payment. Urgent action is needed resolve this damn fiasco, and the only thing that will do it will be cash in hand to those rig guys.
I hope Vincent has seen the news. Maybe he hasn't been able to get to an internet cafe or something. He might of gone out camping somewhere and not had easy internet access.
Thanks Vincent for posting the photos of the rock formations. These have been more interesting than others taken. I hope you are enjoying your time there.
wow 2mil shares, that beats the Capt! I'm still holding in there and keeping an eye out from the back seat - I had thought earlier that this thing would keep bouncing horizontal for a while. Good luck to all.
Thanks! 2 weeks. I hope that is right. We can finally get to see some drilling going on.
Nice to know my holdings are more than average, but still a bit less than the Capt. I have still been picking up a bit more off the 0.04 range. Looking forward to a good weekend if the news predictions are right.
I was in a penny oil stock a couple of years ago that I got in low and managed to pay off all my debts on it. I almost fell off my seat one morning when I looked at my stock. I had a low holding - around 10k volume but that was more than enough. Paying off that debt won out at the end of the day - I could of got quite a lot more. It shot to around $5 at its peak (now 1.6) with about 30mil O/S and an estimated reserve of about 75mm barrels.
I am a bit wiser now with the potential of EEGC if it all goes well. I have no debts to worry about paying off this time! If it doesn't go well, then I would of just written off a car. Thats the way I look at it.
Thanks for pointing out the new pics. They look like they have a decent girth to them. I am sure they will need more than that for going the distance, but I assume that is just the first truckload.
Good to see something show up in the Tasmanian News today. I hope things turn out ok from this point on for a while. I am just looking forward to the new week and seeing how the stock performs.
Anyone looking for oil numbers would have to look for an Australian breakdown. I'm not going to think about numbers much till holes are drilled and reserves are confirmed like others have said. Hope for the best, but don't count your chickens till they hatch as they say.
Maybe the market makers who sold this thing off so much are now caught with their pants down ha ha.
Well we needed a key reversal day as I said before, and here it is. Good to see this on some decent news! Buy and hold people, and strap yourself in.
Wise man say... he who catches falling knife get bloody hand. Better to pick the knife up after it is on the ground. It looks safer now to do so, but I might still need some band aids. I'm holding, but have a few cuts. :(
I downloaded both images and took a look for you. They are not quite exact, but they were taken very close to each other. I think the current one is a nicer shot. It is taken with a closer zoom setting.
Current Image
7139 small size.jpg
2008-12-15T15:20:08+13:00 taken with a Cannon EOS 5D, f/6.3 app f/6.4, 82mm, 1/1300 sec ISO 400
Previous Image
62-day 11-14 december 2008 no 9.jpg
2008-12-15T15:19:14+13:00 taken with a Cannon EOS 5D, f/6.3 app f/6.4, 65mm, 1/800 sec ISO 400
I wish you luck! I would buy more at this price, but have little to spare. All the best. It would be good to see this come back on a key reversal tomorrow.
Get in there Captschippy, we all need you to hold this thing up. Go for it!
Thanks for that post. At least it explains why there was no new Tasmanian News article. I think the reporter made a good call on deciding to take the day off rather than turn up for the free hot dogs and PR spin.
Captschippy, you are still not getting my shares just yet.
Yeah right, I don't think so, you were probably the one picking up at 0.045 today.
I had thought that there might of been a comment by that reporter that was following it from the Tasmanian News. I have a news filter set to keep a watch on things. Maybe tomorrow.
I am sure there is a bit of that going. If I had brought on every turn I would of had a much larger position than my current one.
Yes I think so too. I suspected the market makers were turning over some larger positions to open up the spread again since it was a bit tighter over the previous couple of days. They are playing this thing like a Aussie Didgeridoo.
I think it is just traders getting rid of their positions for the weekend more than anything.
Typical Aussies wanting to have another BBQ before they do any damn work lol. But I see the point in getting a bit more attention before they drill the hole. I just thought that it was behind us.
Great! I don't see any showing off that link yet. I guess they will appear there shortly once they are uploaded.
Anger at drill delay - Tasmania News
http://www.themercury.com.au/article/2009/02/01/52801_tasmania-news.html
Can you elaborate any more? Source of information, or just speculation and hope like the rest of us holding on?
It does seem quiet. All I see are the market makers sitting there with the "5000" lots. Only seems to be a few small real trades there today. I was wondering if anyone else here has started to keep more of a watch on the market makers and the trades happening between the bid and ask. I am starting to watch the flipping between the market makers on this one a bit closer now. I'm just happy to hold at the moment.
Won't be much with Australia’s national day (January 26th).
EEGC Stock Certificate. I have a scan of one if the admin wants to contact me.
Thanks, maybe they have a problem with the contact form off the website. I will see if anything comes back.
Yes we all take the chance, now is the time just to provide a message of support and dig out any lucky charms you have.
I just posted a quick message off the GSLM website site contact for a request for some new photo updates with a message of support. I hope we get some good ones back in the next update.
I would say if there was to be a PR on "Monday" it would be US time as that would be the release of official market news since John Garrison has his name on the bottom of the reports.
Yes this week could be interesting with updates. I hope we get some new pics as well.
Maybe it doesn't show all. If there was a few - it will just drive the breakout price higher when they have to cover the loss.
"If a brokerage has a total share count within their house that is negative, then they are violating the naked short sale rules of the SEC."
http://www.geldpress.com/2008/07/sec-short-rule-inverse-funds/
I don't see eegc on this list that digs up naked shorts:
http://www.buyins.net/tools/short_list.php?ssd=20090115
Short interest in this appears low.
http://shortsqueeze.com/?symbol=eegc&submit=Short+Quote%99
or check out some historical short data:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=eegc&tabValue=6
Short interest registered for the end of November 08 was 0, but there was a small change in December, with the stock trading in a horizontal 0.05 - 0.07 channel, I can only assume that the short position was taken when that there was a small break just before the end of the month when the price dropped from 0.09 - 0.047. Some are just taking advantage of accumulating more stock before we get the drilling results.
I pitty the fool who has 9,355 against it - they will be one flattened mozzie!
Maybe others who have more knowledge in this area could comment more.
Yeah, I hope they don't hit the toilet waste by mistake, it could be real messy to have it come out. Then again, can't that be turned into oil anyway? There is some experiments being done here with turning the stuff into oil.
It's Tassie folks, good things take time to happen down in this part of the world. Remember it's much harder for the drill to work from the bottom of the world.
I just hope they drop that drill head in the sweet spot. I understand now they have much better technology like horizontal drilling and techniques to fracture the line to open things up a bit to release the oil within.
There is a lot of oil in the Tasman sea off the west coast of the North Island here in NZ, and explored for years. Tassie is not that far away and looks like it holds similar formations as to what is being drilled for here in NZ. I see it as being connected as a neighbor field to some of NZ's largest off shore ones.
There has been a company here in the news over the past couple of days that claims they have a big find on the east coast of NZ. http://tvnz.co.nz/view/page/536641/22223... if you go through to the company website in the article there are some interesting clips to watch. I see that it is drilling in shale formations as well. Watch the one where the guy wants to stick a match on the gas coming out of the hole in the ground. The quickest way too singe your eyebrows lol.