Replies to post #24980 on Empire Energy Corporation Intl. (fka EEGC)

[Drunken Sailor]

TXO’s position is most curious. I will say from the outset that what follows is mostly guess work on my part and I could easily be putting 2 and 2 together and coming up with 5 or more.

I expected the sort of announcement we got on 17 April about 2 weeks earlier, because I knew TXO had a big chunk of warrants that would expire on 16 April and I thought that TXO would be keen to see a positive update which would boast their sp at just the right time to encourage the warrant holders to exercise them. As nothing came out I began to wonder if it was not the other way round, ie TXO did not want to be embarrassed by another nonsense announcement whilst the issue of the warrants was still up in the air. TXO warrants expired 16 Apr Empire Announcement 17 Apr a pure coincidence? TXO did get their GBG investment announcement out on 13 April.

We must also remember that although there is no direct business link between TXO and Alpha Prospects – they do not own part of each other or have any contractual commitments with each other, There is a link on TXO’s website to Alpha’s. Alpha share the same offices and Tim B is a director of Alpha. Alpha are behind whatever is really going on with Coleridge.

It is also worth noting that East Africa Oil (another Tim B company in the same office) were clients of Global Explor – the guys who have just come up with a radically different assessment of the COS and are supposed to be doing a report on the Kentucky and Tasmanian Coal. It would seem likely that TXO are somehow involved with this. How have Empire been able to pay Global Explor, when they can’t afford to pay their security company? Did TXO stand as guarantor for the money? Have they lent EEGC some more that we do not know about? All pure speculation but still interesting thoughts.

TXO changed their approach to reporting Empire announcements after I complained to their NOMAD. Since then TXO announcements have been very careful to not appear to confirm things that were not true right down to the latest we note the announcement here is the link (using Yahoo rather than going direct to the SEC site!). I would guess that TXO have not been all that happy about the restraint their NOMAD has applied in this respect, as today TXO have announced that they have changed their NOMAD:

http://www.iii.co.uk/investment/detail/?display=news&code=cotn:TXO.L&action=article&articleid=8562162

And it looks like I will need to put them straight on a few things:

http://www.fox-davies.com/media/26688/txoinitiation200412.pdf

Empire was TXO’s first major new investment: TXO’s convertible loans (“Loans”) to Empire Energy (“Empire”) were signed in 4Q’11 and are convertible between May and July 2012, if it is not repaid. The Loans provide TXO with exposure to Empire’s Bellevue and Thunderbolt prospects, being drilled in 2012. With a combined Prospective STOOIP of 1.4bn bbl (1.3bn bbl Bellevue, 61mm
bbl Thunderbolt), a success would be a game changer for TXO.
??Empire’s funding should mark the start of a transformation: Given that TXO is now carried on the Tasmanian prospects, i.e. it does not have to fund Empire’s drilling programme, Empire’s strong
relationship with its South Korean partners, who are well connected in their domestic market and have an appetite to import energy into Korea, boosts its chances of raising the funds needed to drill.

[Moneytree420]

Oily,

TXO obviously put EEGC in their last update on their website for a reason. Then why does TXO exist? To find water? Please, TXO is here for the same reason I am=OIL!


GO EEGC!!

all the opinions in the world will neither make or break this stock...................100,000 long and strong for a reason!!!