Replies to post #6884 on Empire Energy Corporation Intl. (fka EEGC)

[gman55]

I've been wondering.... The last PR says $50mil line of credit to use as financing of EEGC. Malcolm will use the proceeds to (I'm guessing) exercise his rights under the offering. Since the SEC has yet to approve the rights offering I'm still guessing he can't exercise the option. If the SEC does approve the offering soon, and the PPS is at or below .03 will Malcolm be ABLE to exercise?

As long as the PPS is at current levels, will that postpone the SEC decision??? and not allow Malcolm to fund for drilling???


This is becoming a classic "chicken and egg" syndrome;-)