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Coming from the latest pr!!!!!!!!!!
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While this license represents nearly a 50% reduction from GSLM's original 7,513 square kilometer (1,856,502 acres) application, the Company has accepted the reduced area to continue drilling activities, however, will actively pursue and continue to negotiate with the Minister for Energy and Resources for the remaining area to be granted pursuant to the terms of the previous Special Exploration License SEL 13/1998 license and the Minerals Resources Development Act 1995. The undiscovered potential resource estimates are a result of Empire's and GSLM's US$50.71 million (AUD$56 million) investment over the past 33.3 years. Empire and GSLM believe the remaining area, which encompasses a further 10 (ten) seismically defined prospective resources (refer: Table 2 of Competent Persons Report – Assets of GSLM, October 2008), is estimated to contain a further resource potential of 222 million barrels of oil. This has an undiscovered potential commercial resource value of US$1.108 billion (AUD$1.23 billion) at the discounted US$5 per barrel. At current world prices of US$80 per barrel the undiscovered potential commercial resource would be worth US$17.74 billion (AUD$19.73 billion). Empire intends to resume its drilling program in the licensed area and is confident the company will soon be able to drill all 12 discovered prospective structures which together hold a total undiscovered potential resource of 669 million barrels of oil and a gross potential value of US$53.5 billion (AUD$59.51 billion) at the current US$80 per barrel (AUD$89 per barrel).
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So Malcolm said he is/was agree with the reduced license, however would continue negociating...
Nothing said about sue the government!!!!
I'm agree too... it's not good news to sue a government. Why should he do this? Lets happy with the lease granted or will it be bashers that has released that news in the Australian newspaper???
Howard,
can you give a tip of the veil please. We are end of the week and nothing has happened? What did you've got in mind... Why was this a big week. Notting happened
Please provide some info why you thought this week was gonna be a big week?
Hello Texasdriller,
you said: "You are not going to get rich off of EEGC even if they hit a 3000/bbl/day well"
But it should stay a penny-stock eather, so more than good enough for me!
greetz!
Why is that? Why this week? What do you know we don't... Thanks for the releasing answer in advance!
What is raab fund?
Can you explain why it should be a perfect mariage between eegc and tegr? What has the one company to do with the other. Will there a joint venture between both companies?
What is TDD?
Heraclitus, I wasn't expecting a thanks for that... and it comes not from the yahoo board (I didn't read the yahoo board since months, to negative...) I just wanted to start a conversation about this find and the impact on eegc (neg or positive) and eventually outcome... That's all!!
Oil and gas were found in the Tasmanian Bas Basin!
http://www.bloomberg.com/apps/news?pid=20601081&sid=aI1tE5nvUwfk
Location where the oil and gas has been found is approximately 250km of the Bellevue site!
http://www.originenergy.com.au/news/article/asxmedia-releases/1121
So I think this is good news when eegc starts drilling...
Do you have Some Pr information Howard?what do you have heard?
Just what I was thougth! Nothing wrong with the company, see previous pr's and now also the latest pr:
http://www.foxbusiness.com/story/markets/industries/technology/red-branch-technologies-board-authorizes-internal-investigation-irregular/
They gonna investigate the irrigular trades from last days... Thus maybe time to rebound?
greetz
Hi,
what i not understand is there were a lot of positive pr's and the stock was sinking... But it is and stays a good company no? It makes billion contract deals, so just wait till it will rise again no?
Z,
is OEH already drilling for the moment? Is there any link were we can follow this action. What if they have found some oil, where can we get the news of that?
tnx in advance...
Anybody idee what happens yesterday? Hugh volume but stock has been down (crashed?) more than 20%...
can somebody provide the OEH link (site)!
I think they will soon announce on there site they have found oil or not! What's the ticker of OEH and on what stock is it on.
Wonder how it will affect the quote once they find oil or just not and what about the quote now now they gonne start drilling. Just to have any idee what we can expect when the same should happen with eegc!!!
Zequalsz,
are you turned positive then now you have seen more activity on the Bellevue site... Wouldn't this mean the leases shouldn't be approved soon. That was what I was thought when Malcolm has negociated with HUNT to bring the rig back. Should they do that if they were not aware the leases should approved...
Anyway, thanks for that positive post, it's a little bit of hope for the long runs in combination with previous PR's! They seems correct.
Greetz
What hat did you received howard?
I don't know tell me! I have 15minutes delay... is it in the positive way or negative way?
Tnx
Hela hela, sebiet no koffiekoeken four you eh manneke... (Just Belgium joke...)
In mean time we are the 4the of november, when is news expected from mrt??
Where are the profety that says somewhere between 28 oktobere and 4the of november???
Swede,
is there a timeline perhaps... Why next week, Also Howard was allready talking about a date of the 28 oktober till the 4the of november! Where did you get that information... ??
tnx
Howard,
you stated "look for approval"... are you sure it will be approved. Any surroundings?
Greetz and tnx anyway!!
And the license request from eegc does it fall under ERA like mentioned in your text. If yes, then it is bad if no then there is a chance of MRT approval. Anybody can comment on this...
Howard,
why exactly those dates (the week from 28 oktober till 3 november)?? that mrt will approve or disapprove the license...
Hi,
I can see here are already some boardmembers online. Will it be possible to provide the link where request extention license can be found, tnx...
Can somebody give the link where request can be found...
tnx
Howard, how could you possibly know that MRT will give an approval and where did you come with the date 28the october...
I'm looking forward to your answer...
http://finance.yahoo.com/news/U-Mining-Resources-Inc-Issues-iw-13842503.html?x=1
http://finance.yahoo.com/news/Universal-Mining-Corporation-iw-13793196.html?x=1
http://finance.yahoo.com/news/U-Mining-Resources-Inc-Today-iw-13770579.html?x=1
http://finance.yahoo.com/news/U-Mining-Resources-Inc-iw-13710338.html?x=1
http://biz.yahoo.com/iw/081106/0449704.html
News is out since 10-10-2009. Please check google or Yahoo finance and give comments what you think about it...
Irtamos,
can you give arguments why the lease should be extended. In my opinion it is not because there are so many people that have invested in this company the MRT should grand a new lease or at least extend the old expired one...
Even more, MB has also no money, the only thing he mention is that 50 milj bucks would be provided when rights offering will be approved by SEC. But so far no evidence eather this is thrue...
Belg,
if the bid price for the moment is 0,03 then it will say the price has been up, because they gonna never bid above the current stockprice. Remember the closing price on friday was 0,03... so if you say the bid is 0,03 this will say the price is > then 0,03...
No, i'm just curious what the stock price will do when the exchange will open! My losseright now is to big to sell
What do you think the stock price will do when exchange will open? What is you're oppinion right now how it will end with eegc and what are your arguments...
Belg, and I like to ask also on people who have knowlegde of this matter (Howard, Vincent, Irtamos, whoever who knows)...
If that is the case that 50.000.000$ are really available after rights offering are approved and it is no secret now anymore because MB has admitted then there should be at least a piece of paper between two parties that can verrify this. And I do not say you have to mention the name of the investor but just replace that for example by an x... then we should at least have some prove.
I didn't said that we are closer than ever, I said it's now or never... big difference for me!!
I've never been so curious as now when there has been a news release like last friday!
Because more then ever it seems it will be now or never. Will the license extended or not!
Malcom has publicely admit he has no money and no license... but there are negociations going on with future investors and negotiations with MRT for extend the license. What will MRT do with it and how will investors (read stock price) react on this.
I would say, stock will decrease drastically this evening!!
And yours opinion?
Howard,
can you provide the link to that letter please?
tnx
good post!
Hi Belg and others,
i think the website to watch updates is http://www.empireenergy.com/ceoupdate.php and not the site you mention. As far as a know the website I mention isn't down but I sure hope so there will be an update soon! Let's hope...
How much time does it need to approve the new license request...