No argument with what you are saying.
Malcolm and his team believe in what they are doing.
But I don't think they are helping their credibility with some of the PRs. I don't understand the headline of the July 9 PR, "Sure Capital Issues..Notes," when that factually hasn't happened as disclosed in the body of the PR.
I see no need to contact the Director of Sure, as suggested by crazyjogger in 16287. I am confident that Sure WILL find investors, if EEGC can meet the conditions of the Agreement spelled out in the 8-K, Exhibit 10, so that Sure can issue the 'principal protected' notes described in the July 9 PR, but they haven't yet.
We all hope that EEGC will fulfill the conditions, and Sure will find investors for the notes. This is an wildcat/exploratory opportunity with very interesting -- exciting -- geology to support it. The fact that $50M was spent without a well being drilled is likely causing some hesitancey by prospective funders; note that two years ago SmartWin was willing to put up $45M for half of the company.
(Maybe someone knows explicitly why that fell apart -- I have not seen it published by the company or SmartWin. Maybe they decided they wanted a bigger percentage?? Or, they learned something which caused them to back out, don't know.
There IS funding out there, for the right percentage of profits. Just a mere matter of finding it. Finding an oil company for a JV seems to make the most sense to me -- but that might require a management change. As a statement of fact, the current management has been unable to get cash in the coffers for drilling since the RPS Energy report came out in Octoer, 2008 -- almost two years ago (hopefully this will change this month with the RO, per management's stated intent).
Meanwhile, ten months and ticking on the Bellevue lease.
