Hello,
within the latest news of TXO there is stated:
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Empire Energy
We concluded post year end an investment into a convertible loan to Empire Energy giving us conversion rights into 19.9% of the fully diluted equity. Empire has advised they have secured drilling and seismic contractors and permits to carry out the drilling in Tasmania and that they are in the process securing funds to do so. In addition, Empire has other related and unrelated opportunities with investment potential that they are looking to exploit.
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So empire has to look for funds on them self, and we all know how that turns out about. Like so many years no money will be found en so we lost or money invested in eegc :-(