Empire Energy Corporation Intl. (fka EEGC)

[BLACK G0LD]

Oilsleuth, thanks very much. This would meant that they have lost the automatic right to a renewal, as section 25 details when the Minister must grant an extension. The Minster will, therefore, more than likely have the discretion to grant an extension if there is a reason why the work has not been undertaken.

One would imagine that something like winning the Smartwin case could be relevant. If they were to win, it may help explain why they have not been able to proceed during the past two years. Likewise, if they have a pledge of funding from NBD that also may be relevant, I would have thought that they would grant the licence if they believed the Company were going to drill.

After all, why wouldn't they, according to some on here, they don't believe there is oil anyway and if there only is a 2% COS, why would anyone else want it anyway?