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ERA 981 has been on the system as pending for 18 months.
The MRT rules are very clear - when the minister (it is the minister's decision not MRT's) decides to open it for applications a date for those applications will be set and it will remain open for applications for 4 days. Once that period is complete all applications submitted in the window will be considered based on whether they meet the criteria for award, there is no preference given to when in the period the application was submitted.
Anyone who submits an application prior to the minister deciding to open the area for applications will gain no advantage. Their application will just sit there unassessed. Indeed it could be a disadvantage as circumstances may change either with the area under offer or with the applicant.
Based on all of the above factual information, plus the fact that EEGC is broke and GSLM is still in court ordered liquidation and owned by TOG, in which EEGC no longer has a stake and the entire value of GSLM and the court case has been written off in TOG's books, I think the overwhelming likelihood is that:
I thought they were planning to sue Hunt for providing a rig that was not capable, now you are saying they are going to get that same rig back.
I guess it is a good job Malc has no money and no licence otherwise he would try to repeat every mistake he has ever made.
It would seem that the company's paid stooge is back trying to con people into exercising their "bonus" warrants with a load of articles of varying vintage from the Bahamas wrt to the Clifton oil spill.
It really is amazing how they cannot get the long promised annual report out, despite it being well advanced back in Jan, yet they can issue bonus warrants to shareholders to exercise at £1 and can get someone to post BS on ADVFN.
TOG has not produced its annual report due by yesterday, nor has EAOC (which still has Malc listed as a director) and the ORS annual report which was due 19 Jun is still MIA as is that long awaited Athabasca listing - the PLC set up by the conmen Julian Hamilton Barns and Gideon Botha Roos for it has changed its name to Carbon Technologies Group PLC.
In the meantime, since delisting TXO has converted a load of loans into shares and paid some directors in shares bringing the total number of shares to over 2.1M (2.1Bn before consolidation and all that was authorised by the EGM that gave them permission to issue twice the number of shares that were already in existence).
I am sure Malc will try to lie endlessly, but the fact remains Smart Win have the 32M shares held in escrow as security, less what they have managed to sell in the meantime of course.
Good to see you back, you have not missed anything, just the same old merry go round of lies and broken promises.
The case was settled in Smart Win's favour, that is why Smart Win got the shares held in escrow as security. The details of what else Smart Win got in the settlement are being kept confidential because they are just too embarrassing for Malc. Eventually the EEGC domino will topple, but Malc will do all he can to squeeze every last penny he can from the scam before it goes.
TXO's own broker (paid by TXO to promote them) summed up the data perfectly:
I know Malc has problems keeping any promise he makes, but all he has to do is produce the CEO report he promised a month ago.
If he could also make some sort of pretense at behaving like a real CEO, rather than the bankrupt spiv he is, then that would be a bonus.
I want to here Malc's latest lies from Malc in the form of the CEO report he promised a month ago. I have absolutely zero interest in so call inside info from stooges who have provided hundreds of very tedious lies over the last 6 years all of which have proven to be completely false. I only want to here the lies and fantasies from Malc for their amusement value.
These are amusing links:
https://www.thegazette.co.uk/notice/L-60429-1770187
https://www.thegazette.co.uk/notice/L-60580-1871931
https://www.thegazette.co.uk/notice/2248692
I know what is really happening - the same as has been happening for the last 6 years - Sweet FA.
I would like to hear mad Malc's latest set of fantasies and lies as I find then so amusing, it is such a shame that it only takes a few minutes to prove conclusively that they are lies. I am hoping he will come up with something that is a bit more challenging to while away a few hours.
Thanks for the laugh regarding Warren Buffett. EEGC / Mad Malc seem to be very coy about providing anything better. I note the EEGC website which 4 weeks ago promised a CEO report will follow in a week has been changed to:
Nothing wrong with a long goodbye. Personally I thought the Raymond Chandler novel (1953) was better than the Robert Altman film (1973).
I do not go by gut feeling. I go by facts, which is why I e-mailed MRT to confirm that the ERA was not open for applications and therefore that all the claims about filing applications was just the usual BS, The factual and checking the facts with authoritative sources has never played me wrong in the past, has your gut feeling about EEGC ever let you down? The authenticated facts are all screaming nothing has changed and EEGC is still the worthless scam it has been for the past 6 years.
Yep Malc promised a CEO report in a week, 3 weeks ago now - that is how reliable Malc's promises are.
However, as when / if it comes, it will be chock full of lies and fantasies it will only be good for its entertainment value.
We can only guess at the reason why the ERA is not open to applications, but the FACT is that at this time the ground is not available to anyone. The only thing we can definitely conclude is that there would be absolutely no benefit in putting in an application ahead of the window and thus the claims being made that this has been done are just more misinformation from a source that has been replete with misinformation over many years.
Maybe OEH, Petra, or Terra who all have current licences might also be interested.
It would certainly be prudent for MRT to wait until the Oil price and the general oil investment climate improves substantially before opening the ERA to applications.
Presently there are so many better assets and potential projects that are in distress and can be picked up cheaply, it seems unlikely that opening the ERA for applications in the near future would attract many quality applications.
It would certainly be good news further down the line if MRT could attract a well funded and competent outfit to conduct a rigorous exploration programme on the area - they were clearly unimpressed by what GSLM achieved.
More bad news for the drilling posse.
In response to the question:
That is the great thing about living in a free society, we are free to believe what we want. Therefore we can believe that erroneously calling something that it is not enough times makes that thing morph into what it is being called. By the same principle if you have developed a fine grinding mill that actually you do not need anyway, then just describe all the wonderful other applications it can be used for in a fantasy world to someone who has not seen it has not reviewed any technical data about it and get them to pick an application that would, if it actually existed and worked, make lots of money, then pretend that that is what the technology does, sub licence it from another of your companies and get your brother to sign the sub licence handing it over to you and hey presto you can use it to suck in naive investors and award yourself a bucket load of shares in a Rights Issue on the basis of it.
How many shares did Malc issue to himself on the basis of this particular scam? Even Tim Baldwin did not try to push this aspect of the scam too far as even he could see how obvious it was and how easily it would be torn apart by anyone with a basic knowledge of the science behind conversion of gas to usable liquid fuel.
It would be easier to make a case for believing in Santa Claus and the Tooth Fairy than it would be to make a case for believing in Mad Malc, but as I said at the start it is a free society and we are free to believe what we want, it is therefore not surprising that Malcs lies and fantasies have gained the greatest traction in the land of the free.
Anyone who thinks the flare gas technology or the Faser Technology was real is the one who is really grasping at straws.
The Nanokey "technology as Malc DESCRIBED it to Steve Campbell at AECOM had a myriad of applications including converting flare gas - it was this application that gave it the $2.7Bn per year prospective revenue estimate.
There never was a real intention to drill in Lonnavale. Baldwin and Bendall never even applied for a permit, it was just part of maintaining the illusion that they had the licence and could drill, if you remeber that announcement came shortly before the one of the schedule hearings on the appeal - a hearing that Malc got delayed as usual.
I hope you have not forgotten about the false allegation Paul Batista made regarding me hacking his e-mails.
The thing is when you have ripped off and abused as many people as Tim and Malc have you can no longer rely on them to keep things to themselves. Tim was so shocked when I proved to him at last year's AGM I had those e-mails and others he decided to stop sending me lawyers letters threatening to sue me for defamation because he knew that even under UK law, which is far easier to win a case of defamation under as the defendant has to prove that what he said was true rather than the plaintive having to prove it was a lie - an area where US law (the speech law) is in my view better than UK law, he would lose and lose very badly.
I have the AECOM Nanokey technology valuation letter dated 25 Aug 2009 in which based on a DESCRIPTION from Malc of a technology under development, AECOM come up with the ludicrous figure for potential future revenues of $2.7Bn per year.
I also have the sub licence agreement between Malc and brother David executed on 1 Jan 10 - Happy New Year in the Bendall household that year as the stuffed their pockets with how many Rights Issue shares.
No mention of any Mr Lansell in either document.
Complete and obvious scam to rip off EEGC shareholders in the rights issue. Even if the licence was not bogus EEGC never met is side of the licence and it expired 1 Jan 2015.
Thanks for reminding me about the flare gas I have not had a chuckle over that for ages, I thought absolutely everyone have realised that it was just one more fantasy made up by mad malc to rip off his feeble minded shareholders, seems I was wrong about that there is at least one person who still thinks the flare gas technology is real. Come on admit that you think EEGC has Faser technology too and that is also going to make $Bns.
All much more amusing that the Lonnavale non seep.
In accordance with the scientific definition given in the 2000 MRT report there are no seeps in Tasmania FACT.
None of the articles you have come up with (even the ones you have managed to read correctly) have defined the term seep and then demonstrated how the occurrence at Lonnavale meets it FACT.
EEGC is a scam a vast number of PRs have been put out that have been proven to be completely bogus. As for the Flare Gas scam I have the details of it as they were included in emails Malc sent to Tim Baldwin shortly before Tim started wasting TXO money on trying to cash in for himself on the EEGC scam. There is no Flare Gas Technology, just as there is no Faser Technology and there is no valuable licence or any of the other ludicrous things Malc claimed along the way. EEGC has nothing of any value, it should have been put down like the sick dog it is years ago.
Mad Malc is a lunatic fantasist and a crook, I have that first hand from one of the investors whose money Malc pocketed at Bass Energy.
I thought only Paul Batista was arrogant enough to believe he could make whatever false allegations and smears he wanted to against whoever he likes and not have to own up an apologize when he was shown to have made a complete fool of himself, seems he is not alone.
An apology for trying to suggest that I had manipulated the article would have been more appropriate than continuing a pointless discussion that has dragged on for far too long.
In the definition given in the 2000 MRT report the Lonnavale seep is not a seep because it does not meet the criteria. There has been no articles since that has reexamined that issue, but there have been plenty which has called it a seep when by the strict definition it is not.
The point is that the occurrence at Lonnavale is the only one in Tasmania and its existence does noting to improve the miserably low COS at Bellevue.
When reading a publication in 2 columns you go from the bottom of the left hand column to the top of the right hand column on the same page. In this instance Fig 15 starts at the top of the right hand column as it has just been referred to so the text column restarts below fig 15. and from the bottom of a right hand column to the top of the left hand column on the next page.
The actual sentence which contains the word present reads:
The outcome of this scam is as inevitable as the outcome of all scams - investors lose all their money. The only question is when it will happen. Only the slack US system allows this scam to roll on, any UK company that had not filed audited results for 5 years would have been delisted and then deregistered years ago.
The lack of audited accounts is a massive barrier for anyone investing in EEGC and for EEGC to be awarded a licence. The 4.5% stake in Alpha Prospects who claim to be applying for several licences won't help either because although Alpha has filed accounts they show that Alpha is virtually broke and certainly does not have the ability to prove funds to MRT. However that will not prevent them trying to create the illusion along with Malc to keep both scams going.
The only person taking a skim off the action was Mad Malc and I agree he should be in jail. It is the only way he will be prevented from scamming more feeble minded investors.
He did the same with Bass Energy where investors provided him with money to advance the wind farm project and Malc just pocketed it for himself.
Tasmania is not loaded with Oil and Gas even Clive Burrett says there is a 35% chance that there is no commercial oil anywhere in Tasmania. Clearly he just made the figures up from the top of his head a more measured statement is in the MRT report.
ie when it decides what lies and fantasies to spin this time to keep the feeble minded believing in the illusion they are so desperate to maintain
Why post stuff from the Website that is 6.5 years old?
All it does is remind people what a complete cock up Malc made of things back then
So where are the audited accounts?
The ERA is not even open to applications, it has been pending on the database since late 2013.
First it needs to be open to applications, then an application needs to be successful - which will require among other things proof of funds, which EEGC cannot provide, they can't even produce audited accounts.
The chance of Geological success is between 6% and 2%. Even then there is no guarantee it will be commercial. It would then take several years and a lot of development funding to get it to production. Nobody needs to rush out an buy a wheel barrow, unless of course they have a load of garden rubbish they need to move.
It is a very general report on the geology of Tasmania and covers various mineral deposits.
Title:
The Geology and Mineral Deposits of Tasmania:
a summary
by D. B. Seymour, G. R. Green and C. R. Calver
This is the key bit
They probably have a decent size sell order from Smart Win to fill, there do seem to be a few mug punters out today - is it a full moon?
That broker sacked TXO 2 years ago, they have a reputation to maintain, which is why they refused to lie about the Tasmania fiasco. The guy who wrote that review is an oil and gas specialist and well regarded in the city as well as being on the board of real oil and gas companies.
EEGC is just a scam which is kept going whilst there are still mug punters for Smart Win to dump those shares on. The 4.5% stake they have in the worthless Alpha Prospects, run by the same crooks who run the worthless TXO, is not going to attract any real investors.
TXO's own broker says it all
The RPS energy CPR takes the same loose approach to terminology regarding the Lonnavale "seep" yet, still gives Bellevue a COS of 2% - ie less chance than a single number on a single spin of a roulette wheel and that is just the chance of recovering hydrocarbons to test, many geological successes get plugged and abandoned because they are not commercial.
If you want to believe it is a real seep in accordance with the scientific definition then fine, I prefer independent and scientifically rigorous reports that apply taut definitions - ie the MRT report. The point remains that the COS is exceptionally low and therefore the risk of losing any money an investor puts into it is very high. If someone wants to take that risk anyway, why cut in someone who has nothing of value to offer, but will take a cut of the reward?
No real businessmen would do that, however scamsters often link up with other scamsters in an attempt to increase the belief in the feeble minded in order to rip them off.
There are a lot of other projects, which are less expensive and have a greater probability of success, which cannot get funding in the current climate. There are producing assets belonging to distressed companies that are being sold off cheap. Why would anyone put money into a mad cap gamble when there is so much better out there. I suspect the reason why the ERA has remained pending without an application date is because MRT are waiting for the oil price to recover and investment in oil exploration to pick up so that they get some sensible applications. That would certainly be the responsible thing for MRT to do.
If people want to misinterpret the rather loose use of the term seep in a number of articles to believe that the Lonnavale occurrence does meet the scientific definition, even though the most comprehensive and authoritative assessment says it does not, then that is up to them. The fact remains that all the information was available to RPS when they gave Bellevue a COS of 2%. The Senergy report which only gave a COS of 6% was less comprehensive and relied heavily on data cherry picked by Enzo Zappaterra. who is quoted as calling the Lonnavale occurrence an active seep which it most certainly never has been and even the reports that adopt the very loose use of the word do not make that claim.
You will no doubt agree that the fact that the Lonnavale occurrence is held up as the most significant occurrence says very little for all the other claimed seeps.
There is far more invidious misinformation being put around than whether or not the Lonnavale occurrence actually is a proper seep or not.
How soon is pretty soon? The CEO report Malc promised is already a week overdue, not that it would provide anything other than more lies and fantasies - eating lunch with someone does not make them a conspirator.
Why would any genuine business man give money to EEGC when, if they wanted to take a gamble that had a lower chance of paying off that a single spin on a single number on a roulette wheel, they could apply for the licence and take the gamble all on their own?