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OK, let's hope then that this story will finally come to an end! I mean by that let's finally start the party!!
I hope from the bottom of my heart MB will buy the remaining shares! I'm really be worried about the word "INTENTION" that he has used in his previous PR's. Why isn't MB just not telling I buy the remaining shares??
Rigman, I doesn't care about that EPT investigation. Once eegc sputters oil from beneath Tasmania, that alone shall drive the price to unknown highs... allthough start from the price where it is now (0,032)! So once oil is discovered I doesn't care if a have to wait another two years for production, but discovery alone from oil will give this stock a boost!!!
What about post 16230?? How do you explain that... Can somebody please clear out the 2% once and for all thanks!!!
Eventhough we are still not knowing it is exxon eegc is dealing with, I just read here in a dutch newspaper (called "de morgen"), exxon want to do a take over of BP...
long shares (3 years allready)! And allways were there pr's showing up with very big news (greath announcements) which been afterwards get killed. So no I'm very scheptical concerning the 180 milj $ loan... And ok, I'll hope you have right friday is accumulation day, we will see within minutes and ofcourse this evening when stock is closing!!
Does anyone have any response by contacting sure capital?
If there is no pr within a few minutes before opening Bell, then stock will go down again... seems logical to me!
Bob,
I'm not a basher eather but long term investor and therefore I read pr's also carefully and want to know what exactly is going on.
You say: The good news is that Mr. Bendall and the other directors have committed in the most recent PR to fully subscribing the remaining RO shares
Sorry but that's not what is stated in last pr: last pr says MB has the INTENTION to fully... and that is a big difference. For this evening I have the intention to make a tour with my race cycle... I will tell you tomorrow if I have done
With kind regards!
So what you're saying is 100% chance there is oil only not sure how much... Therefore those figures from 2% for that amount or x% for that amount...
Bob, admit, 2% is nothing... Really but read my Posts before, I copied à few paragraphs from the report (all positive) but in the end they say only 2% chance... I really don't understand, somebody can explain tnx
For those who are reading here and writing on yahoo. I don't have any account on yahoo and therefore I will post message in here. To start I find it regrettable everybody blames each other on yahoo forum. That's one of the reasons I doesn't like post there... To clarify some stuff, I didn't call the Gefco office just email them. I did the same for RPS energy pty but I never have had any respons of them. I read the report on empire energy site but i'm only confused concerning that report. If you read the report then here a few paragraphs:
===================================================
Great South Land Minerals Pty Ltd continued oil and gas exploration onshore in
Tasmania, initiated a program of geological research, and have now proven that the State is a
prospective oil and gas province (GSLM, 1997).
===================================================
GSLM and its predecessor companies have spent over AU$50 million dollars on exploration
activities and meeting licence conditions (Table 1). These activities have so far established
the presence of three significant petroleum systems, including the Larapintine Petroleum
System, the Gondwanan Petroleum System and the existence of a third system through the
discovery of dry gas and Helium in the Pre-Cambrian rocks in the Hunterston drill hole. In
identifying these petroleum systems, GSLM has proved the presence of quality source rocks,
including the tasmanite oil shale which is an oil and gas source rock and is used as the world
standard for Type 1 kerogen, that are thermally mature for the generation of gaseous and
liquid hydrocarbons
======================================================
At the request of the Mineral Resources Tasmania (MRT), Great South Land Minerals Pty
Ltd employed an independent consultant, Robert Young, (Former Chief Geologist of Getty
Final Report of Special Exploration Licence (SEL) 13/1998
September 2009 Great South Land Minerals Ltd 10
Oil) to assess the significance of the gas encountered at Shittim#l. The consultant concluded
the hole had established that a seal, reservoir and gas were present, and that the results
encouraged further investigation of the basin depocentre located in central Tasmania.
==========================================================
And I can go on forever copy paragraphs like this. So and then on the end they are only talking of 0,000228% or 2% chance to find some oil. It's really confusing and do not succeed to combine the text in the report with the figures. Can somebody clarify this for me!!! Tnx
2% in my eyes should be a reason to not start drilling for oil! 2% is nothing. Can you copy me the paragraph out of the report where is stated that there is only 2% chance of finding oil...
Tnx,
Howard,
where did you get this information from?
Thnx Roger!
In English, what does that mean, thanks!!
OK 4RMON,
you know it's becoming very frustrating after more than 3 years been a long... But ok, i will give it litle more months then...
Thanks for the answer anyway!!
What I read is following:
with an international finance company, Sure Capital (www.surecapital.org) to provide structured financing in the sum of USD$180 million, CONDITIONAL upon the completion of prerequisite documentation.
I read again a word: conditional
Can somebody clarify the finance is really a fact or is it conditional?? What are the conditions, which documentation??
You can email Malcolm directly through:
m.bendall@empireenergy.com
keep us in touch of any information you get from him,
succes,
No Rigman but even the news only money is available and a rig is ordered or a rig is under his way to tasmania would skyrocket the price of eegc for a moment...
This is really regrettable then! What's the purpose then to manage a forum in this case "EEGC" ! Why do we have to take care about the bashers??? Just ignore them, If I have some information to share (good), other people should happy they are enable to read it. I don't care then if bashers would miss interpret that information. Just ignore and if it's thrue they will be punished for their lies, the more the better then I would say no!!! ??
Ohterwise Howard, I think you have the emails from most of the longs here on the board (not bashers), so why don't share then something via email? I would be grateful! Tnx...
The problem is that we were all waiting for the License. But everybody thoughts as soon the license get's approved drilling should started. That was in the assumption money was available independent of the rights offering. The RO is good for some extra money... So license has been approved but drilling isn't starting, that means no money. The only good things that are going on (were Howard is talking about I guess) is in my opinion only negociations concerning financials. But Eegc is allready negociating for years and now all of a sudden financing should be approved????
Also the conditional purchase of the speedstar 1100! Gefco was told the purchase would be finished once the license has been approved. So, since then Gefco doesn't hear anything anymore from EEGC. What this means: simply, there's just no money... Don't say the new rig isn't suitable to drill bellevue or thunderbolth, they should have know this as well before negociations started with Gefco! So Howard, tell us, what are the good things going on for the moment concerning EEGC, and i don't speek of words but of facts! In my opinion everybody has the right to know what's going on with eegc no matter where the information is coming from. We are on a forum so this is a call to everybody... share your information, share your information, share you...
As stated above the email of Bendall is m.bendall@empireenergy.com
My question: who has allready contacted Mr. Bendall on above address with what kind of questions and do you have receive answer of him... tnx in advance!
Howard,
what makes you think the new rig is ordered! Is money in place? Last mail received from Gefco: there was no communication anymore between them and Malcolm on what way whats how ever... Somebody on this board know something? Otherwise I do not understand where the new posts concerning the new rig are came from...
Am I missing something? Is circus going on here? As far as I remember is status eegc no money for the moment. Rights offering till end of july, negociations going on concerning extra financials with HOPEFULLY positive outcome! Still no PR about financial is on place!! Why is Everybody starting discussing about new rig (speedstar 1100) and standards allover again???
Remember my last mail with gefco, order was conditional placed and since then NO NEWS about it anymore... (even no contact between EEGC and GEFCO, eventhoug the conditional order was only valid for two weeks)! Please can somebody clarify this out for me???
I would like to have some comment from Malcolm how he's intend to do the future drilling. Questions are asked, will it be with a hired rig or a rig owned by empire itself... Why isn't he telling anything at all about that matter?
Yeaaah and then he's back with his debt to equity shares and no money in stead And what to believe from those financial negociations?? Close to an agreement isn't an agreement hé Belg! How many times did we heard it yet? Afin, we will see, we are all stick together on this one, some more then other... but three years is allready long time to hear allways the same thing, what for the people that are allready in more then 3 years!!
greetz
BobSinCa,
do you think Malcolm would extend the rights offering or even better ask for second round if he would by the not exercised one. In my opinion there would be no extention or second round if he would...? that's my opinion! He's just winning time again and it will not work out...
If I think logical the downside is allways 100% and if you by a stock thats noted for example 100$ or 0,02$ nothing is going change on that. If I invest 100.000$ the downside is allways 100% no matter the stock price is...
Except that they don't have the money to start drilling for several years now! Do you have also any indication they will have the money now...
Invest2002,
same for me! It's been for 3 years now i have invested in this stock and since then it's always going down... I just losed my faith! I mean, I have no hope anymore...
Three years agoo, when I invested the first time in this stock, the only question was, is there oil or not? But then troubles came around about financing and second question came around: will eegc start drilling?
No two questions remains: is there oil and will eegc start drilling?
Heraclitus,
this seems me litle bit good news. So finally, also other company believes there is oil within Tasmania. I like to have that JV or otherwise i hope finance would fall in place very soon for eegc so drilling for oil can finally start...
If I'm well informed, you are from Tasmania. Are you far stated from the Bellevue and Thunderbold site? Can't you see any movement at all overthere. What is your believe concerning oil or not on the Bellevue and Thunderbold site!
Have a nice day!
Hey Peter,
nothing at all, but they promised me to get in touch as soon as possible when they heard something from Eegc. But in my opinion they will not hear from eegc anymore!
The contract ended within two weeks (still one week to go), and if MB waits till the RO is coming on his end, then it will to late to buy that rig or negociations should start allover again. As mentioned before, I do not expect the RO will be a success and therefore I really don't understand why Malcolm isn't buying the remaining shares NOW! As manager he must know the news were waiting for is money and start drilling, not that we as shareholders executes the RO and bring money into the company... Certainly not if the shareprice is under the RO price (Seems logical to me!) Even by the diehards by us in Belgium is there no single hair on there head that's thinking about executing the RO when the shareprice is under the RO price!!!
Howard, please by this, tell us some good news what we can expect and not just only that good news is underway (say also what's the good news), If you can not share by forum because of the bashers then you've got mail from most of us and send us the information by mail! Tnx in advance...
Howard,
the volume was over more than 400.000! So more then enough to believe it's a reaction of the shareholders on the PR news!
Howard can you also take a look at my previous post 15456!
tnx,
PS: just a brainstorm, can it be that Malcolm hopes the prolongation will not be approved by the SEC so afterwards he has been a good excuse he could not buy the remaining shares!
In my opinion, he doesn't wanted to do, because why otherwise do a first round, prolongation, second round, prolongation, etc...
Clock is ticking, he knows it! He knows the stock will not rise above 0,07 unless he reveals he's got the money and will start drilling. So why those second round, and prolongations, nobody will buy anymore!!!!!!!!!!!
Howard,
was this now the pr (extending rights offering) where you were waiting for? Or did you still expect this week a PR with the Tid Bits included? For me the extention is not really that good news. I mean I can't see the positive thing in it! Can somebody clarify please? Moreover, why extend if Malcolm claims anyway to by all shares not exercised by other shareholders. No it's again delay...
Moreover, in the pr is stated:
Empire is FOCUSING on rise capital en more importent but more scarrying also within my opinion.
ASSUMING the rise of capital WILL BE a success then we move on with or goal (rising oil)!
What does this mean, only by succes of rising capital there will be drilled, what about the RO then??????
A litle more concerns from me GBD from Belgium!!
What will be or is the end date of the second round from the RO?
Something is going on! Allready 10% and the volume is also not that small...
I think hè will face jail then... So no rig for empire! And what About empire don't let hear anything more on Gefco concerning the speedstar!! It's allways the same with empire... I will do this, i will do that but in the end nothing has/is been done! If I was MRT, i would also granted that lease, if you see what they have been payed for only granting alone... Easy money!!
Hi all, i contacted gefco. This is the answer i've got.
, I have not had contact from EE for a few weeks. I e-mailed them Tuesday this week to notify them that the validity of the rig purchase contract is expiring in about 2 weeks and asked them what they wanted to do. I have not gotten a return e-mail from anyone yet, but if I do I will let you know. Sorry but that is all I have to report.
Regards,
Art Kliewer
GEFCO
Vice President of International Sales
Office: 580-234-4141 X-210
Cell: 580-548-3756
e-mail: xxx@gefco.com
www.gefco.com
-----Original Message-----
From: Gbd