Replies to post #15112 on Empire Energy Corporation Intl. (fka EEGC)

[peter k]

I did not said i was frustrated or whatsoever. I am frustrated sometimes. But that isn't so crazy i think. I think most of us have some points in where they might feel a bit impatient.

However, i think MB has done a good job gathering that information for ONLY 50 million.
There are company's spending billions and billions ONLY FOR RESEARCH! So, i think MB did it very well. After doing a little research, that isn't so much.

Let's put that stupid drill into the tassie dirt!

-- Peter

[BobSinCA]

Agree that Malcolm Bendall has the most to lose, but that is not to say he won't.

EEGC has a two year lease, but do they have the funds to execute -- and can they get those funds without totally diluting existing shareholders? The market's consensus would appear to be that the RO was unsuccessful in raising the desired $10M; my calculations from the RO PR update suggest that less than 20% of the shares were subscribed in the first round, with more than half being a debt to equity calculation which delivered no cash to the company. Net, $1M +/- came into the company in that round.

There is no doubt in my mind that pps will soar if $10M is available at a 'reasonable' price, but the market consensus is that this is highly unlikely.