Empire Energy Corporation Intl. (fka EEGC)

[ezpicins]

Jeremy, I can only go back the two years Ive been invested in this stock. In 2008 the rig was set up and drilling began as a result of an Agreement with a chinese group for funding. About that time the financial crisis came along and for reasons unknown to me the Chinese deal fell apart, drilling stopped. Malcom has always refused to dilute the stock in order to obtain funding so the rights issue was pursued as a means to get the rig back and begin drilling.
How I got into this stock was at the advice of an elderly friend in his 80's who was contracted by Empire to travel from the States to Tasmania to look at the drill site and advise in 2006. My friend has been in the oil business all his life and he told me that he believed there was huge quantities of oil in Tasmania, having looked at all the data. He advised me to make a small investment which I did in 2008 prior to the drilling. The stock went to a high of .20 pps and then the financial crisis and drilling stopped and price declined. I have continued to invest increasing my shares over the past two years. Im not selling and may lose it all but then again I might strike it rich. Time will tell. Good luck to you and all Longs!