Replies to post #19000 on Empire Energy Corporation Intl. (fka EEGC)

[EarnestDD]

With a 2% probability of economic oil reserve ... at best 2%.

'nuff said.
jmo

[BobSinCA]

Everyone is eagerly looking forward to seeing the results of just the first well drilled to depth and completion with commercial hydrocarbons, then good things will happen:

- Much higher stock price.

- Much cheaper financing for the long range drilling program.

Just one question: is there a current forecast as to when that will happen? Right now, the company only appears to be projecting the drilling of a shallow well with rig and contractor mobilization in November.

I agree with another poster that the objective of such a well could be to show at least some positive results so as to reduce the cost of financing (perhaps through a higher stock price, if equity is sold or shares are used as collateral), which if achieved is fine with me, given the current difficulties in fund raising.

[rigman]

The same report said that there was only a 2% chance of oil and gas being present.