Previous price per share estimates are based on several factors:
++ Current 440 million INDICATED barrels of oil.
++ Australia allows $5. per barrel for indicated reserves.
++ By the time PROVEN reserves are proven (if so) oil is
assumed to = at least $100. per barrel which Australia will
allow full international price per barrel of $100. for
PROVEN reserves.
++ Probable reserves on almost 6,000 square miles (3.7 million
acres) of EEGC oil/gas lease land area wlll also be factored
into the price per share by investors.
++ Hot shot spectlators will most likely drive the price to
$200. per share when EEGC land size and oil prices skyrocket
Keep in mind current INDICATED barrels of oil vs possible future PROVEN barrels vs still further future PROBABLE barrels of oil
on such a vast amount of land (3.7 million acres)brought up to
a possible PROBABLE amount that staggers/boggles the mind.
Thus, start with INDICATED, then PROVEN, then future PROBABLE.
If the current 440 million barrels of INDICATED is PROVEN then
the future PROBABLE on 3.7 million acres is gigantic.... thus
investors will go wild with excitement.
Compare EEGC to Natural gas company ULTRA PETROLUEM (of HUSTON, TEXAS)which went up from $1. per share to $200. per share when
gas was 4 times todays price. EEGC has much greater
potential than ULTRA.... all in my considered OPINION after
experience following hundreds of oil/gas companies..... So,
if ULTRA can do it... why not EEGC ? It's possible ?
