Empire Energy Corporation Intl. (fka EEGC)

[oilsleuth]

In view of the absence of any funding I would agree with you there is no visible interest in the exploration licence by other entities. It's a very big ask looking for $200 million (or even $20 million for that matter) to drill on a licence that may well be cancelled in 4 months time (there is very little chance now that drilling can be carried out by 17th May).

The only way that a new licence would ever be granted to Empire/GSLM would be if appreciable banked funds were to hand - no letters of credits or airy promises would suffice in view of the past unfulfilled expenditure/work requirements. The company has now made it very hard for itself with MRT because of its long history of non-compliance.

MRT would not be awarding a new licence because of a perceived lack of interest by other explorers. There is no way they would want to see a repeat of no-performance squatting by GSLM when another company could turn up that has the required exploration funding.