Replies to post #14199 on Empire Energy Corporation Intl. (fka EEGC)

[Howardhaftel]

That's your opinion. I doubt you can speak for Shell oil. 10 years ago EEGC was beginning to do some Seismic research and The land was a good place to inventory for the future and the best way to get the land was to go for a license from MRT. The cost is minimal but what the big oil companies come to find out that the locals got preference. EEGC is a U.S. company and GSLM was the local. Malcolm ends up buying GSLM and he wasn't about to sell what he just bought. There was plenty of exploration funding available back then. The cash crisis only developed over the last few years. There was more evidence of oil buy the surface oil pools. What they didn't know but what was suspected was the commercial value of the oil. There are people employed by EEGC that are top notch in the oil business and they are all of the belief there is large deposits of oil in Tasmania. Where we are today we are about to drill and make a lot of dreams come true. Its old news that Mr Mark Callaway came aboard and saw the seismic results and was elated with what he saw. He compared it with a 30 billion barrel discovery when he was with Shell oil and said Empires was bigger. We are about to find out.