Replies to post #17552 on Empire Energy Corporation Intl. (fka EEGC)

[EarnestDD]

Hunt has been given so many stories by EEGC over the past two years that I am sure they have lost faith in Malcolm and have no more patience.

Not sure if they could become the holder of the MRT leases if they are successful in winding up GLSM or if the leases will just be terminated.
jmo

[rigman]

Hunt have, IMO, been very patient with Empire and given them many opportunities to pay the money owed. This is not a snap decision by Hunt as the legal process of bringing wind up proceedings against a company take many weeks, if not months so these proceedings would have been started before any of the latest announcements. What future business is Hunt risking, if no oil is found then there will not be 3 wells drilled let alone hundreds. Even if the best happens and oil is found Empire have stated that they are in the process of buying their own rig so where is the profit in that? The issue is simple, either Empire pay Hunt the $1.5 mil they owe then or get wound up. This will really test if Empire actually has any money. If they do there should be no problem paying Hunt