12/09/10 NEWS OUT
Empire Retains Hunter-Wise Companies, Inc. for USD$200 Million Capital Raise
Date : 12/09/2010 @ 9:25AM
Source : Business Wire
Stock : Empire Energy Corporation International (EEGC)
Quote : 0.017 0.0 (0.00%) @ 8:11AM
Empire Retains Hunter-Wise Companies, Inc. for USD$200 Million Capital Raise
Empire Energy Corporation International Common Stock (USOTC:EEGC)
Intraday Stock Chart
Today : Thursday 9 December 2010
Empire Energy Corporation International (Empire) (Pink Sheets:EEGC) Chairman David Villarreal, Jr. announced on Thursday, December 9th 2010 that after evaluation and consideration of a number of legal and finance advisory options with several closely aligned firms to Wall Street, Empire Energy has identified and retained the services of a major investment banking firm, Hunter Wise Securities, LLC (www.HunterWise.com). With 16 offices spanning three continents and specialized expertise in investment banking for small to medium-sized public companies Empire and its management believe Hunter Wise is an ideal banking partner. The firm, subject to final due diligence review, is proceeding with the Empire capital raising efforts of an initial USD$200,000,000.00 (two hundred million dollars US) through their firm’s capital services platform. Hunter Wise’s historical engagement with oil and gas capital raising efforts has a significant and successful history. Hunter-Wise’s preliminary review of the related Empire Energy valuation and due diligence reports provided for the prospect of initiating this capital raising effort with its investment community strength and substantial global presence for broader capital markets penetration of the Company’s desired finance initiatives.
“We are impressed by the unique size and scope of Empire’s Tasmania petroleum structures, and the potential amount of oil and gas resources which may be available. We appreciate being selected to represent Empire Energy as their investment banker, and we look forward to working with Empire during this fund raising process”, said Fred G. Jager, the President of Hunter Wise Securities, LLC.
Empire Energy Corporation is an international oil and gas exploration company, focusing on developing assets in one of the world's last virgin basins and to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Tasmania's central and northern basins.
This press release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward- looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward- looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements. For a more detailed discussion of risks and other factors related to Empire Energy Corporation International
