According to Wilmot, so please take this for what it is worth. Since SE and him had their big fly around, Wilmot seems on the level. SE told him he would bounce his ass out of his seat..He ( Wilmot)does not want the outstanding share count to go past 100 million if he can help it. The reason for some of the upfront money to EGOH as I understand it, was to pay off the remainder of the outstanding debt that is now somewhere around 380,000.00 I believe is the figure.. You see these 3 companies are not loaning him the money for him to invest. It is their baby for a bought share of production. The produce the oil, fund it and do the work and EGOH maintains 50% of the income. So, I look at it this way, we could have a debt free company with 100 million shares producing around 1250 - 1350 bbls a day as per Fred Churchman the oilfield services contractor... Providing these companies come up with the funds they need.
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