Empire Energy Corporation Intl. (fka EEGC)

[Heraclitus]

Filing is great. We all know now total shares in company if there is no more dilution which I presume EEGC is preparing for a PR explaining everything including drilling start and financing in place. If anything is to happen soon, the stock will be able to be priced efficiently on the market by all, especially institutions.

My sums.

1.5 billion barrels commercially viable for EEGC including State Gove take out of 12%.

By the time production has started US$40.00 barrel profit.

Therefore:

$40 x 1.5 billion barrels = $60 billion
$60 billion / 30 (years of production) = $2 billion
$2 billion x a P/E of 10 = $20 billion
$20 billion / 404,435,061 shares

= $49.45 per share. This is only Oil discovery.

P/E of 15 = $74.18 per share

Correct me if I missed something.