He conveys everyting to EEGC for 2.5 million restricted shares. EEGC then applies for additional licenses for coal seam gas and exploration area in Tasmania. Grand Monarch is then assigned a portion of the new license area in order to provide tangible assets, and further, 90% of which are swapped to Geominex for ALL of their shares worth (estimated) $900 million in assets??? .....but we are still obligated to $10K per day standby rate on Hunt #3.
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