Replies to post #4160 on Empire Energy Corporation Intl. (fka EEGC)

[Howardhaftel]

Its obvious that management is not concerned about the cost of the rig so why is anyone else. There are many things going on and they are well aware of what is going on. Wait for news. It will come.

[quintera7]

After reading and re-reading the latest PR about the Geominex JV, my initial hunch was that not drilling right now makes business sense. Strategically, it makes sense not to start drilling until their tenement is renewed. Having come this far, to start drilling now without any reassurances that the company will be able to continue post 9/30/09 is a risky proposition. Suppose the company hits oil tomorrow without renewing. Either the Tasmanian government will capitalize on the opportunity themselves, or another company will swoop in. Better to secure the license first and then drill to prevent scavenging.