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That has to be said over and over again.EEGC will flourish and the investors will be rich. And that you can take to the bank.
I don't know where you got your numbers from but the report I have in front of me gives a range and based on well #1 and well #2 and the lowest estimate is 12% and the highest estimate is 88% with well #1 from 17% to 100% and well #2 is 6% to 100%. There is nothing about a 2% chance anywhere. Thats fiction made up by anti company people. this report was shown to all the members of the Board of Directors as well as the Representatives of the King of Saudi Arabia and captured their interest immediately. Your information is fabricated.
EEGC/GSLM:
I have a report prepared for Great South Land Minerals limited prepared by RPS Energy Pty Limited, Level 3, 41-43 Ord St., West Perth, WA6005 Australia, T+61 (8) 9211 1111, F +61 (8) 9211 1122.
Title of the report is, "Economic Evaluation of the Bellevue and Thunderbolt Prospects in SEL-13/98, Australia"
The assumptions are conservative but just a small sample of how many wells will be needed, 360 vertical wells for Bellevue and 74 vertical wells for Thunderbolt. They estimate the average drainage area per well is to be 40 acres.
We have heard enough from the naysayers trying to undermine the value of this company. The world will know very soon as to the true value by the results and not talk.
I have a report prepared for Great South Land Minerals limited prepared by RPS Energy Pty Limited, Level 3, 41-43 Ord St., West Perth, WA6005 Australia, T+61 (8) 9211 1111, F +61 (8) 9211 1122.
Title of the report is, "Economic Evaluation of the Bellevue and Thunderbolt Prospects in SEL-13/98, Australia"
The assumptions are conservative but just a small sample of how many wells will be needed, 360 vertical wells for Bellevue and 74 vertical wells for Thunderbolt. They estimate the average drainage area per well is to be 40 acres.
We have heard enough from the naysayers trying to undermine the value of this company. The world will know very soon as to the true value by the results and not talk.
Although I agree with your post almost entirely I find it to be too conservative.
If you go back and see the method used to calculate the anticipated reserves the 440 million barrels of oil are a fraction that are hiding under ground. Its quite true that we don't know how much oil/gas there is, from my conversation with Mr Callaway he believed there was equal to or more then the oil discovered while with Shell.
I have no idea what the trading price will be when and if we extract it but I hesitate to put a number on it. It will blow your mind and nobody will believe it. I am comfortable with waiting it out as is my entire family and friends. I enjoyed your post and all the effort you put in to it. Thank you.
Shhhhh! Lets not give away the show.
Its in the PR
"Empire’s Chairman, CEO and two additional Directors intend to travel to Saudi Arabia, Qatar and the United Arab Emirates within the next two weeks for a series of meetings with potential joint venture partners. The Company anticipates authorization for an initial $20 million line of credit to complete the conditions precedent to the $180 million structured finance facility and recommence mobilization of the drilling rig within the next fourteen days. Furthermore, the Company believes authorization for issuance of the first of four $45million tranches is expected within the next 100 days."
That is not public information
I can guess but it depends on the going price of oil at the time. Here is a general formula:
400,000,000 barrels (which is super low IMO) and 400,000,000 shares = each share is = to 1 barrel of oil and at $50/barrel net less 1/2 off for the Joint Venture that comes to $25 a share. I would think a conservative number would be over 10 x that or $250 a share +. This is only a guess.
GSLM/EEGC is far more involved in more then punching a hole or two in the ground. The operation has to be supported. The men have to be fed, sleeping quarters and recreation areas provided and plenty of drink for off duty time. Shuttle buses have to be provided to and from drilling sites to the hotel. Supplies have to be coordinated both for the men and drill rigs. Toilet facilities at the drill sites. Medical facilities for emergencies must be provided. This is a huge operation. Once oil and/or gas is found it gas to be either piped or trucked to market. There is a gas pipe line there already and they will just tap into the existing line but thats for gas. For oil until established will be trucked to the coast and loaded into storage tanks for later loading into tankers for shipment to market. All of the structures will be built and that means work for hundreds of Tasmanians and Australians and now with fresh money in their pockets they will need support merchants to provide products for their life style. The big picture is really big and Malcolms vision has come true.
EEGC is in no rush to drill but not because of money or equipment. Its the WEATHER! Bellevue is 4,000 feet above sea level and snow is not uncommon right now and I believe there is some on the ground from a snow shower. By November mid to late, the snow should be gone and more conducive to drilling. They have secured a line of credit for $20,000,000 to pay for the new rig and continued operations till the first part of the $180,000,000 is delivered. They have multiple drill rigs to choose from and likely when they strike oil they will use all of them to speed up production. They will need many drilling teams and the reason for a Joint Venture to manage the operation. This is a far more complex operation then appears on the surface. Don't post hasty opinions because you just don't know. There are continual meetings going on all over the world as we speak for different requirements and ventures of the company. Its developing very fast now and we should see results soon. How soon depends on the success of the talks. Before this is all over many billions of dollars will be spent. Those funds will come from Joint Ventures, cash flow from on going operations and cash flow from new discovered hydrocarbons. Its all good and a very bright future is facing us.
They could start to drill in as little as 2 weeks. All your assumptions are based on what you read in the last PR. You only have some of the information to draw a conclusion. DON'T! You are missing a lot of information. Just wait and see what develops. GSLM has many rigs to choose from.
EEGC:
EEGC is not just OIL anymore although that is the main focus. there is a lot of money to be made for the shareholders in the Flare Gas business and if you think about it it could be better then striking oil.
With all of the production equipment in place we stand to make an annual dividend that's is taxed at a lower rate and you don't have to sell your stock to get it.
Besides the Flare Gas the Credit Card business is expanding along with the Medical waste business that contributes to the bottom line.
Hang on its not over yet as I hear there are more companies that could be added to the fold. More on that at a later date.
Back to oil: Do you really think Saudi Arabia would be interested in a fly by night business and would invest millions of dollars if they didn't check the company out. In my opinion and the opinion of all of the Directors and Malcolm there is oil ther and A lot more then they have put in writing. They were so conservative in their estimates its almost a turn off. I did a lot of checking before I got involved with EEGC and it had NOTHING to do with message board information. This is my investment for me, my family and my friends.
EEGC is not just OIL anymore although that is the main focus. there is a lot of money to be made for the shareholders in the Flare Gas business and if you think about it it could be better then striking oil.
With all of the production equipment in place we stand to make an annual dividend that's is taxed at a lower rate and you don't have to sell your stock to get it.
Besides the Flare Gas the Credit Card business is expanding along with the Medical waste business that contributes to the bottom line.
Hang on its not over yet as I hear there are more companies that could be added to the fold. More on that at a later date.
Back to oil: Do you really think Saudi Arabia would be interested in a fly by night business and would invest millions of dollars if they didn't check the company out. In my opinion and the opinion of all of the Directors and Malcolm there is oil ther and A lot more then they have put in writing. They were so conservative in their estimates its almost a turn off. I did a lot of checking before I got involved with EEGC and it had NOTHING to do with message board information. This is my investment for me, my family and my friends.
While all of the brilliant forecasters were concentrating on the new rig being paid for, if they had done their research and figured out when that rig was ordered they would have know there were many other rigs that could be put to work much faster. I believe Hunt is on board and they will be the drilling team for bellevue and then on to Thunderbolt.
Just goes to prove you don't have to know what you are talking about to post a message.
Part 7:
Meet the Board of Directors
Dr. Chuck Flynn maintains experience as both an engineering management advisor for McDonnell Douglas Corporation for both the Saturn V Rocket and DC10 airplane and as a business ethics pastor and lecturer. Dr. Flynn received a doctorate in Theology in 1965 from Vanguard University.
Part 6:
Meet the Board of Directors
Mr. Peter Lansell and Dr. Chuck Flynn will join Mr. Cowan as additional advisors to Empire’s Board. Since application of his first patent at eighteen, Mr. Lansell has been a prolific inventor for alternate energy processes and the water industry. As the driving force behind flare gas alternative processes Mr. Lansell brings a wealth of experience and knowledge to the advisory board. Mr. Lansell has owned and run mines in South Africa, Zambia, Borneo, and Australia ranging from oil, to gold and other precious metals, utilizing efficient and environmentally safe methods for ore recovery. Mr. Lansell is expected to guide the effectiveness of the Tasmanian Oil Drilling Program as well as the development of the Flare Gas remediation technology.
Part 5:
Meet the Board of Directors
Mr. Mark Cowan of Washington D.C.’s Patton Boggs law firm will serve as an advisor to the Board. Mr. Cowan brings with him more than 35 years of experience working on complex domestic and international public policy issues to counsel a broad range of clients, advising corporations, government entities and foreign sovereigns. Mr. Cowan previously served as President of Columbus Public Affairs, CEO of Newmyer Associates, Vice Chairman of Cassidy & Associates and was founder and CEO of the Jefferson Group. In addition to two US Presidential appointments, Mr. Cowan also served as Counsel to the Committee on Standards of Official Conduct (ethics) of the US House of Representatives as well as the Assistant Legislative Counsel to the Director of the Central Intelligence Agency (CIA).
Part 4:
Meet the Board of Directors:
Mr. Essmyer is an accomplished inventor and entrepreneur with more than thirty years experience in developing, manufacturing, and marketing his own designs for equipment and materials for the health and personal care markets. In 1982 he founded Alternative Design Systems Inc. (ADS). ADS focused on numerous unique products invented or extended by Mr. Essmyer, which were designed, tested, and moved through the FDA’s 510K approval system. Of particular note, was Mr. Essmyer and the Company’s development of three key patents (#4684558, #4706680, #5622168) for a groundbreaking hydrogel technology. Johnson & Johnson as well as Becton Dickinson are currently using this and some of Mr. Essmyer’s other innovations.
Part 3:
Meet the Board of Directors
Mr. Leach currently serves as the Senior Managing Director of National Trust, LCC a subsidiary of the Leach Family Trust, one of New England’s largest real estate developers with over 2.5 million square feet currently under development. Since his recognition in 1997 by the Environmental Protection Agency (EPA) as a pioneer in the reuse of Superfund Sites his ongoing work has been adopted by EPA and currently serves as the nationwide model for the Federal agency’s billion-dollar Superfund Program.
For nearly two decades, Mr. Leach has imparted corporate guidance to a wide array of companies. At present, he is serving his 18th year on the board of The Oster Group, a privately owned investment banking operation specializing in providing capital and business management to emerging companies and his 6th year on the board of Kenney Manufacturing Company, a leading manufacturer and distributor of household products established in 1914 and among Rhode Island’s largest employers. Mr. Leach graduated from Nasson College in 1983 with a Bachelors of Science degree.
Part 2:
Meet the Board of Directors
Mr. William Keating maintains a diverse wealth of experience in financial management and business development with unique familiarity of the energy industry. He commenced his professional career in 1981 as an auditing specialist at Price Waterhouse Coopers. From there, Mr. Keating spent nine years working for Royal Dutch Shell in a corporate accounting role and then later switching to downstream retail management for the oil company. He then spent two years working at AMCOR Limited in a national sales role followed by another two years in business development
at Ernst & Young. Since 2000, Mr. Keating has worked as a management consultant specializing in corporate recovery and business development for various consultancies and companies worldwide. Most recently including two year long roles as CEO for manufacturing businesses in Australia and New Zealand and for an autonomous software development company in the United Kingdom, Australia and the USA.
Mr. Keating received a Bachelors of Business in Accounting in 1983 from Royal Melbourne Institute of Technology (RMIT University), a Post Graduate Diploma in Marketing from Monash University in 1998 and became a member of the Institute of Chartered Accounts in 1984 of which he was a member until 2000.
Meet the Board of Directors: Part 1:
Mr. Villarreal has spent his career building and successfully managing companies primarily in the financial services industry as well maintaining significant long term organized labor and political relationships. He is the current President and Chief Executive Officer of Grand Monarch Holdings Incorporated and has been the Chairman of the Board of American Union Financial Services, Inc. (“AUFS”) since he founded it in April 2004. Previously, from 2000 to 2005, Mr. Villarreal served as the Chief Operating Officer of American Residential Funding, Inc., a multi billion-dollar national real estate and financial services company. From 1992 to 2000 Mr. Villarreal was President of L.S. Inland Ventures, Inc. which developed commercial real estate and moderate-income housing developments. Between 1998 and 2000, he was President and CEO of Solomon Trust Foundation, a philanthropic charitable organization providing direct financial assistance to low and moderate-income families to facilitate home ownership opportunities. Mr. Villarreal also served as Human Resources Director and National Director for the Immigration Reform and Control Act of 1986 for a subsidiary of W.R. Grace & Co. during his tenure from 1980 through 1988 for which he received a Congressional Office Distinction of Service Award. From 1976 to 1980 Mr. Villarreal served as Administrative Assistant to former Los Angeles Mayor Tom Bradley with responsibility for all organized labor relations and employees of the City of Los Angeles. Prior to recruitment into his Mayoral office responsibilities Mr. Villarreal was the youngest Field Representative for the Laborers’ International Union of North America (“LIUNA”) from 1973 to 1976 and attended California State University Los Angeles where he studied Business Administration and was a 1978 Trade Union Fellow at Harvard University - Graduate School of Business and John F. Kennedy School of Government.
EEGC:
Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finan...
Date : 10/26/2010 @ 3:28AM
Source : Business Wire
Stock : Empire Energy Corporation International (EEGC)
Quote : 0.017 0.0 (0.00%) @ 8:09AM
Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finan...
Empire Energy Corporation International Common Stock (USOTC:EEGC)
Intraday Stock Chart
Today : Tuesday 26 October 2010
Click Here for more Empire Energy Corporation International Common Stock Charts.
Empire Energy Corporation International (Empire) (Pink Sheets: EEGC) announced on Tuesday, October 26th 2010 that Empire has completed its re-acquisition of Grand Monarch Holdings Incorporated.
Grand Monarch has finalized all negotiations for its re-acquisition by Empire. Through said acquisition, Grand Monarch commits its existing credit card
and Sanitec Industries medical waste contracts and further acknowledges the transfer of rights for North, South and Central America for the patented flare gas technology it has recently acquired through negotiations. A business appraisal for the potential economic value of this flare gas technology for the aforementioned regions has been calculated by AECOM, a Fortune 500 company, at approximately $2.7B in annualized revenues upon realization of the technology's roll out with numerous joint venture partners currently under consideration.
Grand Monarch has reviewed the current contractual opportunities in both its existing and developing credit card revenue platforms and its territorial development
agreements in the medical waste industry. Grand Monarch has the capacity to realize combined annualized pre tax profit on potential projected sales thru fiscal 2011 in excess of $10 million dollars, a baseline of operational capital.
Empire’s Board of Directors has commenced a rigorous travel schedule to initiate preparation for the establishment of the Company’s $180 million structured finance facility. Meetings led by Empire’s new Chairman, David Villarreal Jr., have already transpired in Pasadena, California and two additional meetings have been scheduled in both Toronto, Canada and New York City this week. These meetings will allow Empire’s Directors to conference with related parties in finalizing the terms and conditions of the financing and organizing for its disbursement.
Empire’s Chairman, CEO and two additional Directors intend to travel to Saudi Arabia, Qatar and the United Arab Emirates within the next two weeks for a series of meetings with potential joint venture partners. The Company anticipates authorization for an initial $20 million line of credit to complete the conditions precedent to the $180 million structured finance facility and recommence mobilization of the drilling rig within the next fourteen days. Furthermore, the Company believes authorization for issuance of the first of four $45million tranches is expected within the next 100 days.
The Company continues to anticipate resuming drilling operations during the month of November, subject to government re-approvals. Empire’s drilling contractors are prepared to move a drilling rig back on to the Bellevue site to continue the Company’s already-present commercial-grade drill hole. This production-quality drill hole measures 17 ½ inches wide and already runs 768 feet (234 meters) deep. Based on the Company’s geological research and according to its lodged drilling program the first petroleum target is believed to be less than 984 feet (300 meters) away. With a drilling team progressing on the order of approximately 200 feet (62 meters) per day, the Company could reach its first expected payzone as soon as five days after the recommencement of drilling.
The Company is pleased to announce that James Leach has been nominated as Vice Chairman of Empire’s Board of Directors.
Empire Energy Corporation is an international oil and gas exploration company, focusing on developing assets in one of the world's last virgin basins and to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Tasmania's central and northern basins.
This press release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements. For a more detailed discussion of risks and other factors related to Empire Energy Corporation International, please refer to 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission.
EEGC:
Tuesday, October 26, 2010
* Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finance Transaction, Rig Set to Return to BellevueBusiness Wire (Tue 3:28AM EDT)
Wednesday, September 29, 2010
EEGC to drill:
The Company continues to anticipate resuming drilling operations during the month of November, subject to government re-approvals. Empire’s drilling contractors are prepared to move a drilling rig back on to the Bellevue site to continue the Company’s already-present commercial-grade drill hole. This production-quality drill hole measures 17 ½ inches wide and already runs 768 feet (234 meters) deep. Based on the Company’s geological research and according to its lodged drilling program the first petroleum target is believed to be less than 984 feet (300 meters) away. With a drilling team progressing on the order of approximately 200 feet (62 meters) per day, the Company could reach its first expected payzone as soon as five days after the recommencement of drilling.
The Company continues to anticipate resuming drilling operations during the month of November, subject to government re-approvals. Empire’s drilling contractors are prepared to move a drilling rig back on to the Bellevue site to continue the Company’s already-present commercial-grade drill hole. This production-quality drill hole measures 17 ½ inches wide and already runs 768 feet (234 meters) deep. Based on the Company’s geological research and according to its lodged drilling program the first petroleum target is believed to be less than 984 feet (300 meters) away. With a drilling team progressing on the order of approximately 200 feet (62 meters) per day, the Company could reach its first expected payzone as soon as five days after the recommencement of drilling.
EEGC HUGE NEWS
Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finance Transaction, Rig Set to Return to Bellevue
businesswire
Press Release Source: Empire Energy Corporation International On Tuesday October 26, 2010, 3:28 am EDT
LEAWOOD, Kan.--(BUSINESS WIRE)-- Empire Energy Corporation International (Empire) (Pink Sheets:EEGC.pk - News) announced on Tuesday, October 26th 2010 that Empire has completed its re-acquisition of Grand Monarch Holdings Incorporated.
Grand Monarch has finalized all negotiations for its re-acquisition by Empire. Through said acquisition, Grand Monarch commits its existing credit card and Sanitec Industries medical waste contracts and further acknowledges the transfer of rights for North, South and Central America for the patented flare gas technology it has recently acquired through negotiations. A business appraisal for the potential economic value of this flare gas technology for the aforementioned regions has been calculated by AECOM, a Fortune 500 company, at approximately $2.7B in annualized revenues upon realization of the technology's roll out with numerous joint venture partners currently under consideration.
Grand Monarch has reviewed the current contractual opportunities in both its existing and developing credit card revenue platforms and its territorial development agreements in the medical waste industry. Grand Monarch has the capacity to realize combined annualized pre tax profit on potential projected sales thru fiscal 2011 in excess of $10 million dollars, a baseline of operational capital.
Empire’s Board of Directors has commenced a rigorous travel schedule to initiate preparation for the establishment of the Company’s $180 million structured finance facility. Meetings led by Empire’s new Chairman, David Villarreal Jr., have already transpired in Pasadena, California and two additional meetings have been scheduled in both Toronto, Canada and New York City this week. These meetings will allow Empire’s Directors to conference with related parties in finalizing the terms and conditions of the financing and organizing for its disbursement.
Empire’s Chairman, CEO and two additional Directors intend to travel to Saudi Arabia, Qatar and the United Arab Emirates within the next two weeks for a series of meetings with potential joint venture partners. The Company anticipates authorization for an initial $20 million line of credit to complete the conditions precedent to the $180 million structured finance facility and recommence mobilization of the drilling rig within the next fourteen days. Furthermore, the Company believes authorization for issuance of the first of four $45million tranches is expected within the next 100 days.
The Company continues to anticipate resuming drilling operations during the month of November, subject to government re-approvals. Empire’s drilling contractors are prepared to move a drilling rig back on to the Bellevue site to continue the Company’s already-present commercial-grade drill hole. This production-quality drill hole measures 17 ½ inches wide and already runs 768 feet (234 meters) deep. Based on the Company’s geological research and according to its lodged drilling program the first petroleum target is believed to be less than 984 feet (300 meters) away. With a drilling team progressing on the order of approximately 200 feet (62 meters) per day, the Company could reach its first expected payzone as soon as five days after the recommencement of drilling.
The Company is pleased to announce that James Leach has been nominated as Vice Chairman of Empire’s Board of Directors.
Empire Energy Corporation is an international oil and gas exploration company, focusing on developing assets in one of the world's last virgin basins and to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Tasmania's central and northern basins.
This press release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements. For a more detailed discussion of risks and other factors related to Empire Energy Corporation International, please refer to 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission.
Contact:
Empire Energy Corporation International
Malcolm Bendall, 913-663-2310 begin_of_the_skype_highlighting 913-663-2310 end_of_the_skype_highlighting
Related Headlines
* Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finance Transaction, Rig Set to Return to Bellevue - Business Wire
* New Chairman, David Villarreal and Three Additional Directors Appointed to Empire Board, Three Advisors Join Advisory Board - Business Wire
* EMPIRE ENERGY CORP Files SEC form 8-K/A, Changes in Registrant's Certifying Accountant, Financial Statements and Exhi - EDGAR Online
* Empire Drilling Program Recommencement Scheduled, Financial Structuring Details and Grand Monarch Business Projections - Business Wire
* Grand Monarch Holdings Incorporated Reacquisition Commences, Empire Energy Credit Card to be Issued - PR Newswire
Related Message Boards
* Empire Energy Corporation International
EEGC
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{"s" : "eegc.pk","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""}
Press Release Source: Empire Energy Corporation International On Tuesday October 26, 2010, 3:28 am EDT
LEAWOOD, Kan.--(BUSINESS WIRE)-- Empire Energy Corporation International (Empire) (Pink Sheets:EEGC.pk - News) announced on Tuesday, October 26th 2010 that Empire has completed its re-acquisition of Grand Monarch Holdings Incorporated.
Grand Monarch has finalized all negotiations for its re-acquisition by Empire. Through said acquisition, Grand Monarch commits its existing credit card and Sanitec Industries medical waste contracts and further acknowledges the transfer of rights for North, South and Central America for the patented flare gas technology it has recently acquired through negotiations. A business appraisal for the potential economic value of this flare gas technology for the aforementioned regions has been calculated by AECOM, a Fortune 500 company, at approximately $2.7B in annualized revenues upon realization of the technology's roll out with numerous joint venture partners currently under consideration.
Grand Monarch has reviewed the current contractual opportunities in both its existing and developing credit card revenue platforms and its territorial development agreements in the medical waste industry. Grand Monarch has the capacity to realize combined annualized pre tax profit on potential projected sales thru fiscal 2011 in excess of $10 million dollars, a baseline of operational capital.
Empire’s Board of Directors has commenced a rigorous travel schedule to initiate preparation for the establishment of the Company’s $180 million structured finance facility. Meetings led by Empire’s new Chairman, David Villarreal Jr., have already transpired in Pasadena, California and two additional meetings have been scheduled in both Toronto, Canada and New York City this week. These meetings will allow Empire’s Directors to conference with related parties in finalizing the terms and conditions of the financing and organizing for its disbursement.
Empire’s Chairman, CEO and two additional Directors intend to travel to Saudi Arabia, Qatar and the United Arab Emirates within the next two weeks for a series of meetings with potential joint venture partners. The Company anticipates authorization for an initial $20 million line of credit to complete the conditions precedent to the $180 million structured finance facility and recommence mobilization of the drilling rig within the next fourteen days. Furthermore, the Company believes authorization for issuance of the first of four $45million tranches is expected within the next 100 days.
The Company continues to anticipate resuming drilling operations during the month of November, subject to government re-approvals. Empire’s drilling contractors are prepared to move a drilling rig back on to the Bellevue site to continue the Company’s already-present commercial-grade drill hole. This production-quality drill hole measures 17 ½ inches wide and already runs 768 feet (234 meters) deep. Based on the Company’s geological research and according to its lodged drilling program the first petroleum target is believed to be less than 984 feet (300 meters) away. With a drilling team progressing on the order of approximately 200 feet (62 meters) per day, the Company could reach its first expected payzone as soon as five days after the recommencement of drilling.
The Company is pleased to announce that James Leach has been nominated as Vice Chairman of Empire’s Board of Directors.
Empire Energy Corporation is an international oil and gas exploration company, focusing on developing assets in one of the world's last virgin basins and to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Tasmania's central and northern basins.
This press release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements. For a more detailed discussion of risks and other factors related to Empire Energy Corporation International, please refer to 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission.
Contact:
Empire Energy Corporation International
Malcolm Bendall, 913-663-2310 begin_of_the_skype_highlighting 913-663-2310 end_of_the_skype_highlighting
Related Headlines
* Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finance Transaction, Rig Set to Return to Bellevue - Business Wire
* New Chairman, David Villarreal and Three Additional Directors Appointed to Empire Board, Three Advisors Join Advisory Board - Business Wire
* EMPIRE ENERGY CORP Files SEC form 8-K/A, Changes in Registrant's Certifying Accountant, Financial Statements and Exhi - EDGAR Online
* Empire Drilling Program Recommencement Scheduled, Financial Structuring Details and Grand Monarch Business Projections - Business Wire
* Grand Monarch Holdings Incorporated Reacquisition Commences, Empire Energy Credit Card to be Issued - PR Newswire
Related Message Boards
* Empire Energy Corporation International
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Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finance Transaction, Rig Set to Return to Bellevue
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Press Release Source: Empire Energy Corporation International On Tuesday October 26, 2010, 3:28 am EDT
LEAWOOD, Kan.--(BUSINESS WIRE)-- Empire Energy Corporation International (Empire) (Pink Sheets:EEGC.pk - News) announced on Tuesday, October 26th 2010 that Empire has completed its re-acquisition of Grand Monarch Holdings Incorporated.
Grand Monarch has finalized all negotiations for its re-acquisition by Empire. Through said acquisition, Grand Monarch commits its existing credit card and Sanitec Industries medical waste contracts and further acknowledges the transfer of rights for North, South and Central America for the patented flare gas technology it has recently acquired through negotiations. A business appraisal for the potential economic value of this flare gas technology for the aforementioned regions has been calculated by AECOM, a Fortune 500 company, at approximately $2.7B in annualized revenues upon realization of the technology's roll out with numerous joint venture partners currently under consideration.
Grand Monarch has reviewed the current contractual opportunities in both its existing and developing credit card revenue platforms and its territorial development agreements in the medical waste industry. Grand Monarch has the capacity to realize combined annualized pre tax profit on potential projected sales thru fiscal 2011 in excess of $10 million dollars, a baseline of operational capital.
Empire’s Board of Directors has commenced a rigorous travel schedule to initiate preparation for the establishment of the Company’s $180 million structured finance facility. Meetings led by Empire’s new Chairman, David Villarreal Jr., have already transpired in Pasadena, California and two additional meetings have been scheduled in both Toronto, Canada and New York City this week. These meetings will allow Empire’s Directors to conference with related parties in finalizing the terms and conditions of the financing and organizing for its disbursement.
Empire’s Chairman, CEO and two additional Directors intend to travel to Saudi Arabia, Qatar and the United Arab Emirates within the next two weeks for a series of meetings with potential joint venture partners. The Company anticipates authorization for an initial $20 million line of credit to complete the conditions precedent to the $180 million structured finance facility and recommence mobilization of the drilling rig within the next fourteen days. Furthermore, the Company believes authorization for issuance of the first of four $45million tranches is expected within the next 100 days.
The Company continues to anticipate resuming drilling operations during the month of November, subject to government re-approvals. Empire’s drilling contractors are prepared to move a drilling rig back on to the Bellevue site to continue the Company’s already-present commercial-grade drill hole. This production-quality drill hole measures 17 ½ inches wide and already runs 768 feet (234 meters) deep. Based on the Company’s geological research and according to its lodged drilling program the first petroleum target is believed to be less than 984 feet (300 meters) away. With a drilling team progressing on the order of approximately 200 feet (62 meters) per day, the Company could reach its first expected payzone as soon as five days after the recommencement of drilling.
The Company is pleased to announce that James Leach has been nominated as Vice Chairman of Empire’s Board of Directors.
Empire Energy Corporation is an international oil and gas exploration company, focusing on developing assets in one of the world's last virgin basins and to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Tasmania's central and northern basins.
This press release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements. For a more detailed discussion of risks and other factors related to Empire Energy Corporation International, please refer to 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission.
Contact:
Empire Energy Corporation International
Malcolm Bendall, 913-663-2310 begin_of_the_skype_highlighting 913-663-2310 end_of_the_skype_highlighting
Related Headlines
* Empire Formally Re-acquires Grand Monarch Holdings, Directors Travel to Middle East to Finalize $180 Million Structured Finance Transaction, Rig Set to Return to Bellevue - Business Wire
* New Chairman, David Villarreal and Three Additional Directors Appointed to Empire Board, Three Advisors Join Advisory Board - Business Wire
* EMPIRE ENERGY CORP Files SEC form 8-K/A, Changes in Registrant's Certifying Accountant, Financial Statements and Exhi - EDGAR Online
* Empire Drilling Program Recommencement Scheduled, Financial Structuring Details and Grand Monarch Business Projections - Business Wire
* Grand Monarch Holdings Incorporated Reacquisition Commences, Empire Energy Credit Card to be Issued - PR Newswire
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* Empire Energy Corporation International
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What am I doing wrong? All I see is brown!
http://i26.photobucket.com/albums/c117/lonepony/head_up_ass.jpg
Empire Energy (EEGC) / Great South Land (GSLM) will not only survive but will excel in its goals and the company will generate many new millionaires. All the people that speak against the company are wasting their time. We will prevail and under the excellent leadership of Malcolm Bendall, the super loyal employees and the guidance of the superior Board of Directors we will emerge as a world leading Oil and Gas producer. Its all about to unfold before your eyes.
I wrote that last post because I think this is the kind of business where you want bashing
I heard they are not real fights just heated arguments, a lot of smacking and pinching.
Everything is falling into line and I expect forward movement in the stock price today, continued by a push on Monday
AVEW: ActionView International, Inc. Announces Posting of Quarterly Report and Upgrade of Status on OTC Markets Website
Date : 10/22/2010 @ 9:21AM
Source : GlobeNewswire Inc.
Stock : ActionView International (AVEW)
Quote : 0.0085 0.0 (0.00%) @ 8:10AM
ActionView International, Inc. Announces Posting of Quarterly Report and Upgrade of Status on OTC Markets Website
Actionview International (OTC) (USOTC:AVEW)
Intraday Stock Chart
Today : Friday 22 October 2010
Click Here for more Actionview International (OTC) Charts.
ActionView International, Inc. (Pink Sheets:AVEW) today announced that the company's quarterly report for the period ended June 30, 2010 has been posted to www.otcmarkets.com. The posting of the report and submission of the corresponding attorney letter has resulted in the company's status to be upgraded to "Limited Information" in the OTC Markets system. Once all of the information submitted by the company has been reviewed, it is expected that ActionView International will be upgraded to "Current Information" status.
ActionView International's wholly-owned MatchFights subsidiary delivers the most exciting brand of full contact fighting under its World Championship Full Contact (WCFC) banner. MatchFights' events are broadcast live to a worldwide audience over the Internet, and revenue is derived from pay-per-view buys, video-on-demand sales, DVD sales, advertising, and merchandising.
"The quarter reflected in this report ended in June and does not include our most recent revenue initiatives, including our video-on-demand agreement with Comcast in the Mountain West region, our most recent WCFC event, the results of our negotiations to sell the broadcast rights to upcoming live mixed martial arts events, and new WCFC merchandising initiatives," said Gary Nerison, Chairman of ActionView. "We expect that the 4th calendar quarter of 2010 will more accurately reflect the company's current business model and operations."
The company is subscribed to the Pink OTC Markets' Disclosure and News Service as a venue to report its quarterly and annual financial information while minimizing the cost of compliance as the company supports the growth of its MatchFights subsidiary and the WCFC brand.
Shareholders and anyone interested in monitoring the progress of the company are encouraged to subscribe to the electronic mailing list by forwarding their email address to investors@actionviewint.com.
About ActionView International, Inc.
ActionView International, its wholly owned MatchFights, LLC subsidiary and the World Championship Full Contact brand deliver exciting, live, pay-per-view events in an interactive venue over the Internet to a global audience. For additional information about MatchFights and its World Championship Full Contact brand, please visit www.wcfc.com and join the world's premier fight-based network.
CONTACT: ActionView International, Inc.
Shareholder Relations
1-800-480-2690 begin_of_the_skype_highlighting 1-800-480-2690 end_of_the_skype_highlighting begin_of_the_skype_highlighting 1-800-480-2690 end_of_the_skype_highlighting
investors@actionviewint.com
Questions of that type should be answered by an officer of the company and not a poster giving their opinion.
Float is the shares available to trade
Outstanding is the issued shares with some percentage tightly held and are not traded. The Outstanding can be the float providing they are tradeable
The Italian way to get Ben Ladin
Wow! That's a hell of a chart. Looks like an elevator going up!
Hark!, (we use to do a lot of harking in the old days, not so much anymore), anyhow, at you Bequest I Behest therefore I am, hence (a female chicken), one must keep there eye on the donut and not the hole. You have requested Green and I have delivered.