Empire Energy Corporation Intl. (fka EEGC)

[Drunken Sailor]

There was a very tautly defined overall budget of $5m.

In Garrison's spreadsheet of 5 Oct 08, invoices has already been submitted which took the total way over that very tautly defined figure. These invoices had either already been paid or were "due now".

Cell F2 clearly states "The well can not spud until at least one week AFTER these invoices have been paid."

Of those invoices only the figure that was specified in Schedule 2 as being for Hunt had been submitted and these had been paid. There was no over billing by Hunt what so ever.

That total, which was already over $5m by 10%, includes the working capital that had been paid. Had the full working capital amount been paid it would have taken the total even further over. EEGC may not have "asked for" more than $5m, they demanded more than $5m and said cough up or no spud. Very clear contract breach by EEGC. That is not my opinion, that is a fact backed by evidentiary proof provided by John Garrison.