Call the SEC and ask for an Investigation, NOW!
I haven't posted in a long while because all the Cool-Aid drinkers attack anyone who doesn't believe in this bogus oil Company.
Forget about the obvious,
1. History of Tasmanian oil reveals that no major discoveries exist and the small oil finds that do exist reveal sub-strata geology is not conducive to seismic
2. RPS Energy Party LTD is not RPS Energy Services with worldwide office, email and ask, I did
3. The bogus evaluation of oil reserves. You need 3 successful, producing wells to define a geometrical shape that then can be evaluated as far as the potential of producing further wells with calculated reserves. A real engineered evaluation can be taken to a reserve bank and money borrowed against it for drilling programs. It's done everyday.
4. If there is $6B of oil in the ground, the first time the leases expired, Exxon, Royal Dutch Shell, BP, etc would have swooped in and took over. Don't mention lawsuit, EE is going to sue for their non-performance and win a court case, Laughable.
5. The bogus purchase order or whatever it is called for the purchase of a rig? Why not a Gulfstream 55?
6. "NANO" flare Gas, not reg flare gas. I can find no patent info detailing "NANO" tech or EE or MB in the US Patent record system, check yourself. I can find no oil company hat has ever heard of this "nano" tech.
7. and on and on.
The last tech release takes the cake. Just by chance I know more about the topic than EE does.
The Naval petroleum reserve, aka Elk Hills is located in Kern County, close to Bakersfield, CA. The GOV owned the lands, Oxy harvested the oil and the GOV got a Lion's share as opposed to a standard land owner royalty share. Been there - worked for them. Jet fuel is not made or stored there. Jet fuel looses 7-8% of volume every 14 days. In 1998 Al Gore led the sale of Elk Hills to OXY (Al Gore owned block shares of OXY stock). Look it up!
The DOD purchases for all branches of the military, not each branch. You have to pass stringent requirements to be approved to sale the DOD. EE can't pass.
To sell jet fuel you have to show financial capability, processing or storage capability (637 license, which EE can't get, no new one are being issued currently), etc.
Who is going to build a refinery with no feedstock to supply it and the operating cash to sustain it (cash needed on hand is staggering)?
The biggest LIE of all is the supposition that the US GOV is going to sign a 5 year contract for jet fuel at $200/BBL which is more than twice the price today. The GOV beats you up on price more than Wal-Mart does.
This is a complete fabrication.
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