"Empire’s Chairman, CEO and two additional Directors intend to travel to Saudi Arabia, Qatar and the United Arab Emirates within the next two weeks for a series of meetings with potential joint venture partners. The Company anticipates authorization for an initial $20 million line of credit to complete the conditions precedent to the $180 million structured finance facility and recommence mobilization of the drilling rig within the next fourteen days. Furthermore, the Company believes authorization for issuance of the first of four $45million tranches is expected within the next 100 days."
The Company anticipates authorization for an initial $20 million line of credit to complete the conditions precedent to the $180 million structured finance facility and recommence mobilization of the drilling rig within the next fourteen days