Empire Energy Corporation Intl. (fka EEGC)

[oilsleuth]

DS

I have sent this e-mail to Simon Lee:

Dear Simon Lee,

It is wonderful news that NBD Partners Energy, Korea will be soon entering a JV arrangement to develop the extraordinary quantities of oil and coal believed by Empire Energy to exist in Tasmania. It is especially gratifying in view of the several other large financing entities that have shortsightedly declined to participate in this marvellous investment opportunity. It is not every day that 49% of oil assets conservatively valued $2.2 billion (some put the figure much higher) are offered for the relatively trivial sum of $50 million with an equal interest in Tasmania's bountiful coal resources concealed beneath the dolerite capping of the Central Plateau thrown in as well (and not to forget the highly valuable coal bed methane which is sure to be present also). The attraction of high-ash thermal coal that is easily convertible into very valuable coking coal is readily apparent.

Arrangements have not yet been formally announced for the disposal of the copious amounts of natural gas that will inevitably be produced along with the oil but it is expected they will be fed into the existing Duke Energy pipeline which was farsightedly constructed from the mainland to Tasmania with that object in view. However, if that does not prove possible Empire Energy has access to an innovative and patented flare gas recovery technology for which it is expected the Australian rights could easily be obtained.

As a shareholder of Empire Energy I look forward with great anticipation to the day when the first barrel of oil ever produced in Tasmania will be taken on board a supertanker and the first tonne of coal ever to be exported from Tasmania will be loaded by a 400,000 tonne Brazilian bulk carrier at the port of Hobart with its major new infrastructure development.