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It's not clear what the "49% stake" referred to in the PR is related to. Is this a 49% equity stake in EEGC (= the entire company) ? A 49% stake in GSLM (=the Australian subsidiary only) ? A 49% stake in the exploration license ? I think we'll have to await the SEC filing to know for sure.
A very beautiful job indeed ! Thanks !
It's clear that MRT and the Minister are at least CONSIDERING to grant a new license. The main reason for this probably is that it can't be denied off course that GSLM DID discover several potential petroleum structures in Tasmania ...
Imo we'll get news about the new license(s) soon.
MALCOLM,
Three step plan to satisfy your shareholders:
1/ SHOW ME THE MONEY:
Jnewaz: I just want to let you know that I really appreciated reading your two posts !!!
The daily candlestick chart looks extremely nice ! It almost screams BUY BUY BUY !!!
Fot those who start crying because EEGC is a little in the red today, I only have one advise: SHORT TERM HAS NO FUTURE ...
"No pain, no gain". We've had the pain, so dear fellow believers: Please welcome the gain !
Maybe my crystal ball is correct: A "killer-PR" this Friday ...
Volume: 1 MILLION + and counting ...
Remember my guess: A PR this Friday (the 21st) ...
I agree.
Exactly !
You think it's possible to buy 20,000,000 shares at 1.4c ???
Also: Hunt wants HARD CASH, they don't want shares ...
I don’t give a f*ck about the stock’s price BEFORE they find oil (and no serious investor shouldn). I didn’t buy this stock because I expect it to rise because of speculation, but because I expect it’ll skyrocket because EEGC will find commercial amounts of oil, natural gas,…
Good morning, America !
How's the weather over there ? As great as here in Belgium ?
My guess: A PR NEXT FRIDAY (21st of AUGUST).
Hi All,
Instead of bitching and whoring or panicking and selling my shares, I just did some research on EEGC.
The attentive shareholders undoubtedly will have noticed that EEGC filed two registration statements with the SEC on the 23th of July:
*One for the planned rights offering
*And another one to "register" an amount of restricted shares so that they become freely tradable.
This last one include 20,000,000 shares owned by Hunt Energy.
I estimate it will take about one month for the SEC to approve these registration statements and make them "effective".
(23th of July + 1 month ==>> 23th of August !)
What I think will happen after the registration statements become effective is:
a/ The 20,000,000 EEGC shares held by Hunt Energy will be sold to an investor (or to Malcolm) at 7c each (maybe this is what they meant with "debt to equity" in the PR dated May 30).
b/ Malcolm will provide further financing by taking down his rights in the rights offering by buying shares at 7c each.
All this means that Hunt will be paid well before the 30th of September and therefore drilling will start before the license expires. Obtaining new licenses or extensions won't be any problem.
Furthermore, I also think we'll get news about the two new licenses they applied for on the 18th of June.
This has nothing to do with inside information ! This is just logical thinking based on the information available.
Sincerely,
Vincent.
I agree. This isn't a stock for impatient people.
In my opinion, a lot of things will be clarified BEFORE the end of August. One thing is for sure: I am not selling any of my shares below 1 USD ...
Stay tuned - Grtz, Vincent.
Great post from Doc Metz ... !
I fully agree !
The press would be all over it if it was actually move outside the state ...
Winners never quit and quitters never win ... I most definitely do not quit ...
In my opinion, it's a very intelligent "move" from the company to not publish any PR's before there actually is some tangible news.
I share Howard's opinion that there is a lot going on behind the scenes and I patiently await further news. Common sense tells me that we'll get a clarifying PR during August and that drilling at the Bellevue site will start at the end of August or early September.
Meanwhile I keep singing this part from the Rolling Stones song "Jigsaw Puzzle": "Me, I'm just waiting so patientlyyyyyyy"
(
Just a quick update: I still do fully expect to meet you all soon at the "millionaire's party" in Tasmania !
Don't worry guys. Just read Heraclitus' reply on Yahoo:
Guys,
the whole post by Vince here is a cut and copy from IHub by TassieDevil.
A moderator deleted it from IHub today after Vince posted it here.
Vince is not selling, Tassie Devil is.
Sometimes dreams come true ...
RE Heraclitus question:
That's not public information. Would you like it if everyone could check how many shares you own of a certain company ? I wouldn't !!!
What about Partagas (Chicos) ?
Why do you think the SEC won't approve the registration statement ?
This is not true. The Bellevue site is IN THE CENTER of Tasmania !!! And Launceston is NOT all the way up in the North...
Lol, I had to laugh at this despite the fact I don't doubt about the fact everything will turn out GREAT with EEGC ...
He probably don't have to file anything because it's a line of credit to him personally, not to EEGC or GSLM.
+27.50% ...
Where are you from ? The US ?
Well done. Welcome to the club. We'll meet each other soon at the milionaire's party in Tasmania soon !
I won't call him, I'll just swim to the UK and then go to London
Yeah and our patience with this company will also be rewarded soon !
Thanks guys, I've already had a couple of Belgian beers today and will have some more tonight !
By the way: I graduated today !