Empire Energy Corporation Intl. (fka EEGC)

[BobSinCA]

Re:

Malcolm CONFIRMED to buy all the rest on July 31th, so wait and see if he has the money! You don't know what is in his wallet!!

We do know that Mr. Bendall 'bought' his initial shares in the RO with a conversion of debt to equity, which is self-serving (company can't repay unless oil is found, in which case shareholders would prefer to repay debt).

Company's biggest need is cash -- let's hope he pays cash for the remaining shares, so the rig can be bought. It will undoubtedly take quite some time to work out the various wrinkles in the financing (repayment terms, JV with drilling firm) -- for example the terms on Mr. Bendall's LOC announced a year ago have apparently still not been finalized. And the Bellevue well must be drilled and completed in less than 10+ months.

In terms of 'value per share' if oil is found -- all depends on finding oil (2% likelihood) combined with dilution from the financing and/or JV.