Replies to post #4731 on Empire Energy Corporation Intl. (fka EEGC)

[Howardhaftel]

Your thinking is correct.
Its all a guess because we don't know the selling price of oil and we don't know how much oil we have.
I used an average price of $75 a barrel and a total cost of overhead $25 that includes paying 12% tax leaving a profit of $50 a barrel. So for every 1 billion barrels the average price per share is about $100. 2 billion = $200.
Next assume 20 years to pump dry and from all indications there are way in excess of 2 billion barrels. Now realize this is not my opinion but pure guess work with no foundation or proof other then based upon previous research by the company. It will take drilling to expose the reserve quantity. Till then take all these estimates with a grain of salt. Dream on folks. Something else to consider I used 1/2 billion shares outstanding in my calculations because additional funding will need the issuing of more stock.

[goingUPagain]

great post. also, after reading the s1 a little more, and howard's brief posting of it, i decided to call an expert in this stuff. what the s1 is, according to the expert i know, is the rights offering. this makes common sense. now for the pr about the financing and the drilling. both will be explained in an upcoming pr which i believe will be soon.