Replies to post #17749 on Empire Energy Corporation Intl. (fka EEGC)

[sopmodman]

I'm sure (if history repeats itself) it will be yet another great progress report on their objectives which include:

* Financing of 180 million
* Ordering of the RIG to drill 12 holes
* Expanded parameters
* Adding respected Board Members
* Development and financing of the Flare Gas Technology
* Listing back to the OB for the interim, then to NASDAQ
* creation of a Joint Venture with a gulf region oil company

People, Empire is going to be a winner one way or other. One way is bringing oil to the surface, and the other ways is through Flare Gas Technology, and the newly announced Grand Monarch Holdings Incorporated Reacquisition. So you see one way or the other, this .02 cent stock will be much much higher one day, and soon as well.

Its exciting and easy to watch them develop all of the above from my comfortable chair. They are working very hard to make Empire wildly successful. My thanks to Malcolm and team for all their efforts. Cant wait to see the next PR and the discussions afterwords LOL.
Always IMO.
Bat

[BobSinCA]

With the wind-up hearing scheduled for the 14th, certainly hope there is news related to a Hunt agreement in advance of that.

The question as to whether the liquidator can 'sell' the license, such as it is (Bellevue must be completed in 8.3 months), is a crucial one.

- If not, forcing dissolution only gives Hunt revenge, the company (GSLM) has no other obvoius assets (if they did, they would be 'hocked' to find cash to drill.

- If so, Hunt should stand a reasonable chance of getting their money back. The EEGC (and I'm assuming GSLM) balance sheet has been cleaned up substantially by the RO, with over $9M taken off the books by Mr. Bendall.

Mr. Bendall puts the value of the Bellevue/Thunderbolt lease at $2B+; even at 2% likelihood, those interested in gambling would value it at $40M. And 10% of THAT number would pay back the remaining debtors, including Hunt.

Since going to court will cost Hunt money, and arguably negative publicity in Tasmania/Australia, it would seem logical that the liquidator can somehow monetize the lease.

Maybe there is a poster who knows for sure?