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Hey clips,
When you were talkin' about that 4,000 percent the other day did you take into consideration the approx. 500% or so it's allready gained in the last few months?
seems logical to me you have not...
What?
30 billion barrels?
That's freakin' incredible!
No wonder I picked up more shares today.
Here I come, Colonel!
I'm thinking those guys investing over at TXO are investing in the wrong company.
Yea, it's true they're investing in Empire at the same time, somewhat, when they buy TXO shares. However, it appears to me there is more potential gain in Empire.
If I was them, with all their hypotheticals and all, focusing on facts like Empire sitting over a known and very large petroleum source basin with a 100% chance of seal over it (as stated by a highly reputable consulting organization) should do the trick.
Yea, it's just a rumor. I saw that too.
Oh, well.
Oops, you mean qualitative?
Qualitative would refer to TXO.
And the rest?
Well, go figure.
No,no,no very naughty!
That was actually a very lovely 8k.
You see, once you get past all the stink that people put on it, it actually smells quite lovely...:)
Really now,
Wow, you sure are stuck on that word "acquire"
I believe I said it maybe one time in my post and I can't count the many times you have as I only have 10 fingers.
So, I gotaweebit lost there. Sorry.
However, I'm wondering why you stew over that word so much.
As it's quite obvious, according to the 8k and my post, the company has acquired something in "acquiring 75% interest in the East African Oil Co." Which just so happens to be an option, evidently, in that interest...
Wrong?
Moreover, the reason I provided you the link to the reporting requirements was because they're are many reasons for reporting in an 8k and the pretext(... you know, the top part of it) (of the 8k) actually describes those reasons, fyi.
Good post.
What's happenin', clips?
Time to buy some more?
Geez, I don't know pitts.
Sorry, I was out of town. But, so I return and this is what
I get:
Right.
Now your coming around. I did claim both and still do.
As such, if Empire happens to find gold or coal or any mineral, commodity, etc. w/o that particular exploration license, my whole point was that I can guarantee you that they will be applying for that new found mineral exploration license.
Thus, the reasoning for the reconciliation of soveriegn -vs- explorer rights in the easy application process as per the MRA of 1995.
Very nice.
With the company acquiring 75% interest in the East African Oil Company and interests w/ TXO in both companies it's clearly evident many good things are happening. Imo, Malcolm's doing well. Attaining funds, both oil & AIM expertise and obviously making other great connections as well as another potential large source of oil.
A very cozy fit.
Right.
I get it. A legitimate error.
Maybe the following helps. You might want to try reading it again as well as the rest of the report.
To the contrary.
I'm suggesting (well, actually stating) that your statements don't paint a true picture.
C'mon now, pitts. You know better.
Those are for reporting and tax purposes.
The value of the "reserves" had not accrued yet.
Further, I don't think TXO is the one painting here.
Look, I don't care how you paint it.
TXO has way over $100,000,000.00 dollars in proven reserves to date.
A long way from being insolvent...
No, lol.
Sorry, you're claim is a complete fabrication.
You pointed to "intangeble assets" and "property and plant equipment" Note 11 and 12 respectively.
Read a bit further. Try reading note 32 (page 44) of the same cite that you posted.
You will find as of Sept., 2011 TXO reports they have $50,774,098.00 in proven reserves which were at the time priced at
$46.50 per bbl.
Gee, I hope you can figure the rest.
And, 'er it's not my claim its TXO's
Oh, I didn't realize someone else had written something similar.
Either way, I'm not opposed to your post too!
Great post!
Haha, lol.
Wrote it off.
Yea, but it's still there.
Geez, you're killing me.
That is a gross and inaccurate falsehood.
In fact, as of Sept 2010, TXO has over $100,000,000.00 worth of proven barrels of oil.
So, go figure.
LOL, insolvent? An insolvent company just loaned the company $3,000,000. That's funny!
Moreover, the above figure didn't even include 16 other leases which have 61 other wells where the value had not been stated.
Right.
They're both "small companies."
Go figure, I didnt think of that.
Maybe that's why TXO can't put any news out on their own.
Okay.
But, me and my belt think differently.
So, does the market, TXO's shareholders and their financial community. In fact, we all agree TXO is an acceptable investment facility for raising funds even though it costs them money to pump their own oil.
Gee, I wonder what it is?
TXO is a good company. Very little debt, able to float the AIM, some oil, oil administration expertise and an interest in Empire.
And yes, thanks for the loan.
However, I can't help but notice that recently everytime the company puts out a press release TXO states the same thing.
Seems like Empire is the gorilla.
Correction.
In my last post, I wrote:
Are you kidding me?
If anything TXO is riding off of Empire's coattails!
As such,
TXO‘s shares were suspended from trading on AIM in September 2010 because the company was not in a position to publish its annual accounts by the date required by AIM rules. Then, in their 2010 annual report, they wrote off over $12 mm in bad debt at the cost of their shareholders.
Again, here's their 2010 annual report:
http://www.txoplc.co.uk/PDFs/2010_AnnualReportAndAccounts.pdf
Then, the shares in TXO plc were readmitted to trading in mid-March 2011 following the publication of the company‘s audited
annual report and accounts because in February that same year, TXO
announced that the company had been approached by a group that was prepared to put up the financing necessary to have
its accounts prepared as a prelude to arranging a more substantial refinancing of the group. Because of this they were able to access market funds again with essentially no debt through the AIM. Which is a good thing for them and our company
Fund raising was messed up for along time. From nothing in '09 to something in'10. Empire had had a difficult time due to some debt, SmartWin, etc...
See: http://www.ey.com/UK/en/Industries/Oil---Gas/Oil-and-Gas-Eye---Funds-raised-on-AIM
Further, yes TXO has some oil but not much oil and it costs alot for them to get it out of the ground. Therefore, TXO's main expertise was in the administration of oil properties as they hadn't had much luck in finding large quantities. They realized this, wrote off all the bad debt and moved on to a new business plan which is to strictly invest in companies w/ prospective LARGE quantities. Thus, investment was in Empire as they KNOW when it looks like oil and they KNOW when it doesn't.
Now besides potentially sitting on a grip of oil, and potentially bidding on prospective oil in Uganda they have all of the following which isn't much compared to a little oil and the admin expertise that TXO has:
http://www.businesswire.com/news/home/20110906005657/en/Empire-Signs-Joint-Venture-Financing-Agreements-London
Good news!
Look all the sulliness creates oil!
http://creation.com/how-fast-can-oil-form
Nah, just kidding. Sans the sulliness, apparently according to the 8k, Malcolm is revealing his GTL patent technology that we've been waiting for:
This one can see why that one is so puzzled as your post is fraught w/ puzzling statements.
For one, if I didn't hold the rights for the use of a technology in a part of the world and I thought I could make money off of it I'd probably just pay for the use of the right.
For another, well...
On a side note, inroads need to be made in the aforementioned tecnhology as flaring the proven, let alone prospective oil reserves is literally killing those people, that continent, as well as the rest of the world.
No. We are not in agreement. As the 8k says otherwise.
Finally, and not trying to be redundant, the party's are working on the terms in relation to the Tasmanian Basin project as well as others.
Not wanting anyone to suffer the obvious source of any 'muddy waters' it's obvious by submission of most recent 8k that the company's CEO, Malcolm Bendall was reporting on a material event as required by the SEC "pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934". This is clearly spelled out in the pretext of the 8k.
Here is what 13(l) says:
Yes. Great post, fish.
You're slick!
Very interesting. Malcolm's using the term "moves" nicely.
You kinda get that way conversing with attorney's...
Sounds good, like you know a little 'bout down under law.
But again, that's about it.
As you still fail to reconcile the ownership of minerals by the state with an explorers rights to the same bounty.
As such, the little Tazzy Government took steps to eliminate the threat of ‘sovereign risk’ by an explorer with measures in the Mineral Resources Development Act of 1995
Foremost, being an easy application process. If the company by happenschance actually stumbles upon a new find of gold or coal/coal seam gas for that matter, especially in economic amounts, I can almost guarantee you its not going to be exploited by some other company even if they held the prospective license for that mineral.
Of course, that's just my opinion.
That's it?
I don't know.
Try this number: +65 6438 7868
No evidence of what?
Funding or oil?
I believe funding is on it's way and the oil?
Well, from what I know and contrary to what's been said on this board, often as you well know, there is evidence of oil. Boss is deriving lot's of oil from northern Tasmania in the tasmanite shale south of Latrobe. There is shown to be a bitumen seep in the NE at Launceston and Lonnavale in the south.
Plus, there was lots of methane and other cool gases found in 3 gas wells in the south and at least one of them was flared off before MRT had them seal it.
All pretty good news, huh?
Hope that helps.
I don't know what you're talking about.
Something in my post?