well, i do know this...
i had some correspondence with the former CEO(al sehsuvaroglu...a HIGHLY experienced oilman, who had much to do with the nelson resources success(mark callaway was with them) in kazakhstan.
even after he(al) was kicked to the curb(fired from eegc...power play when lots of oil is involved is what he said), i asked him if he believed there was oil down under???...he certainly could have taken the sour grapes attitude and said " screw eegc", but he didnt...he said he believes there is oil there, and was ready to drill(he originally negotiated the hunt contract)...he would have liked to have seen some 3D seismic work done, but since you gotta go with what ya got, his hunch was that it(oil) was there to be found..
how much???
qui vivra verra....time will tell
if there is even a whiff of petrol when the drill starts turning, eegc could easily rocket in price....short term, one could reasonably see $1.50/shr, though the price will be highly volatile until 3P reserves are confirmed...
EEGC is a HIGHLY risky play...for that reason, the rewards could be BIG....with all the latest news, the downside risk is minimal
seems VERY logical to me..
jmo
