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The only kind of pumping I'm interested in is pumping up oil in Tasmania... which will happen very soon.
Potverdekke, it's great to be a Belgian :
Not me anyway!!!
Everything I say is based on facts...
Don't underestimate the Belgians... and certainly not this one ...
In my opinion, Malcolm Bendall is working much harder for EEGC/GSLM than most of you would think.
Don't forget that finding financing for this kind of projects is EXTREMELY difficult these days... But: HE DID IT!
I agree. With their new website and "investor relations policy", they keep us way better informed than before.
In total, there will be several BILLION barrels of oil!!!
The RPS analysis is extremely "conservative"...
That's a realistic forecast! Bellevue #1 will be drilled by the end of April.
You bet!!! April 2009 will be one of the best months of our lives!
I heavily doubt whether you'll EVER be able to buy at $0.015 again!
In Dutch we say "Wie te lang wacht, wordt verkracht". It means "Those who wait too long, will get raped" .
I know this sounds weird in English, but in this case there's a lot of truth in it .
The EEGC-story will come to a happy end soon!
It's now 100% sure that they have enough money to drill (didn't I forecast this a few days ago?)...
The only remaining question is: will they find commercial amounts of oil/gas or not. I'm personally absolutely sure they will!!!
There've been indications that oil/gas might be found in Tasmania since the 1920's and GSLM and its predecessors have been doing extensive (seismic) research for decades!!!
I recommend everyone to read this letter from Clive Burrett: http://www.empireenergy.com/project.php .
For me, there is no doubt: THERE WILL BE OIL!!! (and GAS !)
I do like their new "eighties-style" website !
Companies like Citigroup had very nice/"modernistic" websites and we all know what happened to them!
Correct!
A PR with VERY good news is coming very soon!
Probably today...
and
CERTAINLY this week!
Keep the faith.
They've got the money, don't worry.
Drilling will start as soon as the whole drilling crew is mobilized.
Hunt Energy has the required infrastructure and capable people to drill
+
EEGC/GSLM now have the money to pay Hunt Energy
+
All the required materials to start drilling are currently on site
=
PERFECT combination
Negotiations with Hunt Energy are currently going on!
A press release announcing the date the drilling will start is coming very soon.
Keep the faith and you'll get rewarded .
They most surely won't.
Good question!
GSLM's license is for oil and gas (except Coal Seam Gas).
What would happen if they find CSG?
Why do you think they leased the "Holliday" park???
To house the drilling crew off course...!!!
As from January 2009 Bronte Park Highland Village is under new management provided by the leasee Great South Land Minerals Ltd. Under the new management Bronte Park Highland Village has come back to life enjoying numbers that have not been seen since the departure of the Wiss familiy in 2005.
Read this news-update on "Bronte Park Holliday Village"'s website: http://www.bronteparkvillage.com.au/asp/news_display.asp?articleID=77&id=4
Does this mean that the drilling crew is mobilized?
Could you please tell something more about these "restriced shares"? Thanks !
Is everyone sleeping ???
Btw: it looks as if GSLM's and Pure Energy's license areas partially overlap:
http://www.vmertens.be/licenses.jpg
Does anybody know something more about this?
Pure Energy also holds an Exploration License in Tasmania:
http://www.pureenergyresources.com.au/our-projects/tasmania.html
They were recently taken over by BG International:
http://www.bg-group.com/MEDIACENTRE/PRESS/Pages/27Feb2009.aspx
A few moments ago, I saw a link to an article about "Pure Energy" on this board, but apparently it's gone now?
Could anyone post it again, please?
Thanks and have a great day!
2003 or 2004 if I remember it right.
Those who are interested in EEGC/GSLM should take a look at the old versions of GSLM's website:
http://tinyurl.com/bgj4ma
Very interesting!
I found this letter from M. Bendall over there:
”
Chairman’s Letter
Malcolm BendallAfter twenty eight years of drilling, researching, and raising capital, I see my vision becoming reality and I am thrilled to report the beginning of the end of a long journey. I am pleased to report that the recently finished Australian government funded University of Tasmania research project on the Petroleum Systems of the Tasmania Basin has concluded that over 3 billion barrels of oil equivalent may be found onshore Tasmania. In business we start projects that encounter so many difficulties that they often mask the moral, technical and financial benefits that the project has already obtained through perseverance, and that will further manifest with the successful implementation of our business plan. Skeptics will always deride and devalue the worth of visions but I have always believed in the vision God gave me about this oil and gas project. All the results, to date, have conclusively validated the reality of this vision.
I want to thank you, along with all my investors and supporters, for having the courage and perseverance to work thru all the challenging aspects of this project. Over the years, I have seen the finish-line, and now it is a shared reality that can also be appreciated by the global community now as proven scientific fact all realized through manifestation of both faith and integrity. I did not anticipate that the conclusion of the merger would be completed in the same month as oil prices reach record highs at US $58.00 per barrel and with predictions of oil reaching $US110. In the last thirty years, major oil corporations have been risk adverse, and have avoided exploration activity. They have appeared successful only by virtue of short term depletion of their, often overstated, reserves and thru share buybacks to bolster their share price. Long term real oil industry growth and sustainability depends on high risk exploration resulting in the identification of virgin fields in previously unexplored, frontier basins. This requires utilizing extensive on-ground exploration methodologies which is contrary to the conservative ethos of the legal, accounting and management forces bred in office buildings by those who have never seen a drill rig floor and who certainly are not visionaries.
Our company, currently controls the Permian Tasmania Basin, which overlies a Devonian fold-thrust system that contains platform-to-basin sedimentary sequences similar in structure, age and lithology to the Appalachians. The Ordovician Gordon Group limestones are very similar to the Black River and Trenton Groups of North America and contain wet gas, with possible reef, sandstone and secondary dolomite reservoirs. A 2001 seismic survey revealed structures in the fold-thrust belt that include domes up to 9km (5.5miles) across with half mile closures similar in size to structures in giant fields such as the Ekofisk field of the North Sea (5 x 8miles), to the Takula Field of Angola (6 x 5 miles) to the Fortescue Field, Gippsland Basin Australia (6 x 2.5 miles) and also to the Keystone Field, Permian Basin Texas (10 x 5 miles) and the Long Beach Field, Los Angeles, (4 x 1 miles). I believe the assets underlying your investment should only develop from this point, due to the imminent realization of the potential production available from this incredible frontier area.
The early Permian Tasmanite Oil Shale is qualitatively one of the best petroleum source rocks in the world and is known globally as the typical Type 1 (oil producing source matter) kerogen. Tasmanite is at depth in the Tasmania Basin in central Tasmania and has generated a low sulfur, heavy crude, oil seep in southern Tasmania. Additionally, the Permian source rocks are in the oil-to-wet gas window over most of the 6,100,000 acres of the Tasmania Basin. The Source Potential Index (SPI) calculations show that the generative potential of the Permian source rocks is high. The Tasmanite Oil Shale SPI indicate up to 3.7 barrels of oil per square meter and the Woody Island Formation indicate a mean potential generation of 2.65 barrels of oil per square meter. These and other Permian source rocks give a generative potential of about 10 barrels per square meter. Assuming generation over half the basin, and the subsequent loss of 94% petroleum generated, then 9 billion barrels may have been retained and 3 billion barrels oil equivalent could potentially be produced from reservoirs within the Permo-Triassic of the Tasmania Basin. The underlying sequences could contribute at least that much again. These vital statistics are foundations to our evaluation of the productivity of the basin, and we have been able to validate our findings through the exhaustive reports completed in the last few years. We can also report that our license has been secured for the next five years. This is good news, since we are now in a position to begin drilling and enter the world market with the only untapped basin we know of, large enough to affect the Australian market. This could, in effect, replace the current Australian reliance of oil imported from the Middle East.
Yours sincerely
Malcolm Bendall
CHAIRMAN
“
Howard,
If you had to guess whether drilling would start before the end of March or not, what would you say?
I'd definitely say YES! I really think March'll be the month in which we'll get "rolling" !
Howard,
Is it you who is updating EEGC/GSLM 's websites?
Or did I understand you wrong?
Sorry, I don't want you to hurt your head so early in the morning .
But from what you've heard from your contacts, is it probable there'll be a press-release or a website-update this week?
Howard,
Do you still think a press release is coming this week?
Do you think they started or will start drilling this week?
Please note that Tasmania isn't a country, but an island state of Australia.
Don't worry about dilution! There'll be enough for everyone !
It's obvious that getting this project financed causes dilution.
Wouldn't you guys also want a big part of the pie when you invest $10,000,000? I would!
I still have full confidence in this company.
Last year in July, Bendall arranged a loan of $5,000,000 with Smart Win (Hong Kong).
$5M was sufficient to drill the Bellevue #1 well, but SW stopped paying after advancing "only" $3,900,000...
Because of this, there was only enough money to drill the top-hole (272m) in August/September and mobilize/prepare the Hunt Rig (November, December)... There was no money left for the "deep drilling".
If "the Chinese" would have kept their word and paid the whole $5M, the Bellevue well would have been drilled already!
However, despite the "money problem", EEGC didn't give up and they are currently negotiating with Smart Win and other potential investors in order to secure funding for the drilling.
I'm sure they'll get this project financed, despite the current "CREDIT (!) - crisis".
Good luck guys!
Those who don't take any risks will never win...
In Dutch we say "Wie niet waagt, blijft maagd!". It means "Those who don't dare, stay a virgin" .
Howard is right!!!
They still hold more than 30,000,000 shares !
Not 30,000 but 3,000,000.
I'm about to have an afternoon coffee right now .
Btw: do they release press-releases during American or Tasmanian (Australian) business hours? Or does it depend?
"The clue is each time the quantity of shares is the same."
In this year's filing, the amount is lower...
Good morning!!! (here in Belgium, it's actually already 3 PM :-p)
Are you sure they issued new stocks? I found this is the SEC "archives":
2/14/2007:
=================================================
Aggregate Amount Beneficially Owned by Each Reporting Person
33,983,333 Class A*
5,000,000 Class B*
*RAB Special Situations (Master) Fund Limited owns 17,100,000 Class A common shares, a $1,500,000 convertible debenture convertible into 8,333,333 common shares, warrants to acquire 8,550,000 Class A common shares, and warrant to acquire 5,000,000 Class B common shares. The convertible debenture and warrants are not exercisable if, as a result of an exercise, the holder would then become a “ten percent beneficial owner” of the issuer’s common stock, as defined in Rule 16a-2 under the Securities Exchange At of 1934.
=================================================
2/14/2008:
=================================================
Aggregate Amount Beneficially Owned by Each Reporting Person
33,983,333 Class A*
5,000,000 Class B*
*RAB Special Situations (Master) Fund Limited owns 17,100,000 Class A common shares, a $1,500,000 convertible debenture convertible into 8,333,333 Class A common shares, warrants to acquire 8,550,000 Class A common shares, and warrants to acquire 5,000,000 Class B common shares. The convertible debenture and warrants are not exercisable if, as a result of an exercise, the holder would then become a “ten percent beneficial owner” of the issuer’s common stock, as defined in Rule 16a-2 under the Securities Exchange At of 1934.
=================================================
2/17/2009:
=================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,958,333 Class A*
5,000,000 Class B*
*RAB Special Situations (Master) Fund Limited owns 14,075,000 Class A common shares, a $1,500,000 convertible debenture convertible into 8,333,333 Class A common shares, warrants to acquire 8,550,000 Class A common shares, and warrants to acquire 5,000,000 Class B common shares. The convertible debenture and warrants are not exercisable if, as a result of an exercise, the holder would then become a “ten percent beneficial owner” of the issuer’s common stock, as defined in Rule 16a-2 under the Securities Exchange Act of 1934, as amended (the “Act”).
=================================================
It rather looks like RAB reduced their interest in EEGC, but I can be wrong!!!
Thanks and have a great day!
Impossible. Every sold stock is also bought by someone .
Howard,
You wrote that their schedule hasn't changed. Can you confirm that they started drilling on monday?
Time & Sales
Price Size Exch Time
0.045 65000 OBB 13:00:30
0.046 5000 OBB 12:59:25
0.046 15000 OBB 11:11:40
0.046 25000 OBB 11:11:34
0.047 17000 OBB 10:48:12
0.047 15000 OBB 10:38:46
0.047 3000 OBB 10:38:20
0.0471 5000 OBB 10:32:53
0.0475 37000 OBB 10:32:45
0.0475 25000 OBB 10:18:55
0.0471 25000 OBB 10:18:42
0.471 5000 OBB 09:32:22
Wrong, a lot of shareholders are from Tasmania:
=====================================================
Of Empire’s 1559 shareholders 231 are Tasmanian, but the former Taroona High School student says the local shareholders own about 70 per cent of the company’s shares. “This company is based in America, but its owners are Tasmanian,” he said.
“I consider it to be a Tasmanian company.”
=====================================================
Besides, isn't it just logical that the open day is at the drilling site??? Investors like to see what's happening with their money .