Malcolm Bendall (EEGC CEO) & Tim Baldwin (TXO CEO) have returned from several weeks of meetings in Korea with business partners, which my sources say went well.
Myself and other investors will be looking forward to several Press releases which will be out soon with the outcome of the Korea meetings and information on the mobilisation of oil rigs and other progress made.
April and May should be exciting months.
A note to other Investment readers: Be patient. Investors and General public are really the last to know about proposals for Licences, start dates etc… due to the fact that that there are many people involved; Business partners, Creditors, Local Government and other regulatory authorities. Press releases can not often reveal this information until transactions have been made or contracts signed as it could potentially jeopardise deals until they have been completed.
These companies are legitimate businesses who act with their own ongoing success and Investors success in mind. They are not scammers as 'Drunken Sailor' may lead you to believe. Here today, gone tomorrow, running away with investors funds. There is too much at stake for them, they are also regulated by by local governments and other agencies, and in order to operate their research has been independently verified.
Please refer to http://www.gslm.com.au/ 'Competent Persons Report - Assets of Great South Land Minerals Limited, Tasmania.' Prepared for Empire Energy Corporation International and its wholly owned subsidary Great South Land Minerals Ltd of Hobart.
This is a very in-depth report which was independently done and was a requirement for Empire to get it's initial Licence granted by the Australian Government.
There have been several articles referred to on Interactive Investor referring to Low yield Coal which was not economically viable. These are outdated.
Coal is graded and High yield Coal is rare to find. High yield Coal typically has a TOC value below 100. But even Low yield coal is useful. It's economic viability is then determined by the size of the deposit and how easy it is to be extracted. Note that both mining equipment & techniques have improved and Transportation services have improved since early reported findings by others years ago. Core samples from various sites have found Coal with varying values from Low to High and Coal seams varying thickness. Some coal seams were found up to 300 metres thick. One core sample revealed Coal of Type III with a TOC of up to 188 which is a very high value and has great commercial value.
Please do not pester Paul Heath and others quoted by 'Drunken Sailor' on the Interactive Investor site. Paul Heath is primarily a Geologist, and although he is involved in other aspects of the company, he is not in a position to answer Investors questions. There is however an Investment Liaison person, the correct way to contact if required is through the http://www.gslm.com.au/ website, [Contact Us] link and fill out the online form, or alternatively E-mail: admin@gslm.com.au
I have had an apology that the company's web site is very out of date. Unfortunately they have been very busy with the preparation for drilling and the web site has been neglected. However, once the drilling commences soon, then the web site will be given a lift and should maintain regular updates on the drilling progress.
I have done my research and know exactly who you are "Drunken Sailor". A bloke who several years ago was up to no good and ended up head to head with Malcolm Bendall. You lost! But rather than tucking that tail between your legs and disappearing, you have become bitter and vengeful and have made it a life mission, to get in your own mind, revenge. For several years you have blogged on several of Malcolm Bendall's companies and his business partners sites, using multiple aliases and changing your server address to avoid being located.
Oh. I find your comments to my last post on this site funny. You remind me of Gollum from 'Lord of the Rings' sitting in your dark cave having conversation with your self about your 'Precious' and how you can get your hands on it. With your split personalities talking to each other; 'Oil Baron1' & 'Drunken Sailor'.
For other readers you will note the same language being used and he is just trying to support his own comments, as if it makes him more credible. There are also multiple Aliases on the Interactive Investor site http://www.iii.co.ukand several of the companies web sites which he uses. Unfortunately Drunken Sailor and his alleged 1 share he owns (Humpff. As if. Lie!!!), is not going to go away. He is so caught up in his perverted and malicious ways. I just hope other readers will be a little more astute and can overlook his comments with the knowledge of where they originate from.
I know who Drunken Sailor is but I am not here to name names. I do not want to get personally involved. I'll leave this to Malcolm Bendall, Tim Baldwin and the Authorities to sort out. I believe in Karma, Drunken Sailor will get what's coming for him. Perhaps he could have been successful if he were not wasting so much of his time in being a bully, trying to take what's not his and trying to use deception and intimidation.
Drunken sailor acknowledges he is not liked by Tim & Malcolm. Not surprising!
Wed 11:19 Re: Empire Share Price Yesterday drunken sailor
Why not drop Tim a line to ask him
tim@hsiplc.com
Funnily enough I am not flavour of the month with him.
Oh! Faser technology patents.
Has anyone stopped to think what a ridiculous request it is to ask for proof of Faser Patents.
Since our topic revolves around Tasmania I will use an Australian car for my analogy. Would you ask the mechanic, about to service your Holden Commodore to produce patents for the Engine tuning technology. First, they would probably look at you blankly. Secondly, it would be quite some feet to produce such a request. As it is not just one tool like a spanner with a patent, that make up the tuning equipment, but a whole range of equipment, many which are complex and have many patents, some of which may be owned by Holden themselves, but parts may be patented by IBM, Motorola etc….
Like asking the late Steve Jobs for a patient for the Apple iPhone. The first iPhone came out with a couple of hundred patents. This has expanded many times as the iPhone has evolved.
"Yet the iPhone, even with its 200 patents, is still a simple product with few components. A telecommunications network, like the 4G wireless network new and ongoing development, has so many moving parts that it depends on tens of thousands of individual patents to keep the entire machine running. As of 2008, there were 18,300 patents and 16,254 pending applications particular to the development of a 4G network. While 4G offers innovation, it hasn't reinvented the wheel and still relies on the over 80,000 patents that form the backbone of telecommunications connectivity." http://www.iptoday.com/issues/2009/11/articles/how-many-patents-take-build-iPhone.asp
Drunken Sailor is just attempting to throw another Spanner in the works. Faser technology has a vast number of patents involved. Some owned by Empire Energy for parts they have designed themselves. Some owned by other companies. Some Faser equipment is designed by Empire, some has been acquired in the past from a take over of another company (announced in a previous Press release), some is leased from other companies such as Shell.
Just trust that the relevant patents are there. If they were not and Empire and TXO had done something wrong they would be finding themselves dragged through Hot Coals and into the courts.
Filed Under: Energy,
Disclaimer:
As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.
TXO Plc is a United Kingdom-based investment holding company. The Company along with its subsidiaries is engaged in the oil and gas exploitation. The Company is focused on its two principal investments Grand Bahama Group Ltd (GBG) and its investment in Tasmania Oil and Gas Ltd (TOG). The Company’s subsidiaries include Tasmania Oil and Gas Limited, is engaged in the Oil and gas exploitation and East African Oil Company Limited, which is engaged in the Oil and gas exploitation. And its associate company Grand Bahama Group Limited is engaged in the Oil and gas exploitation. more »
55 Posts on this Thread show/hide all
TXO- Morgan oil recieve $25m approach from US Giant
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77250643
last weeks rumour picking up pace
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77310217
http://investorshub.advfn.com/boards/read_msg.aspx?message
In reply to MOREFORUS, post #35
I agree. From what my sources inform me it should be some interesting weeks ahead. There have been some complications over the last couple of months, but these are now almost resolved and the project will finally start moving forward. It's been stagnant the last few months while there were delays initially with getting a Rig, then licence required renewal, etc... Like many things this big and complicated, they don't always run on schedule, but it should be worth the wait!
What a complete bunch of jokers you guys are. Jersey Fish or Howard Haftel is the single most unreliable source of info on the company there is, even more unreliable than the company themselves.
Facts are GSLM has been wound up and the licence goes with it.
Smart Win case will be reviewed on 25 Jul, EEGC's lawyer walked out on them because he was not paid, the latest info is that he has not been replaced.
TXO's loan becomes due on 24 Aug. TXO cannot hope to raise a decent sum through issue of more shares unless they face up to the real issues here and demand their money back - putting EEGC into liquidation as EEGC do not have the where with all to pay them.
by all accounts major upgrade will follow with as Exxon rumoured to be moving in
You tried to pull this SCAM last week, it got rumbled then. Have you not already done enough damage?
In reply to MOREFORUS, post #40
Advfn and Ihub are down and you are so desperate to spread your lies and deceit you are using this thread. Does the Advfn moreforus know you are using his name in vain on here? I take it you are also behind the in the Bahamas alias that has just sprung up on ihub and the many multiple aliases on advfn associated with buystock. You can try on iii as well if you like, but I have already warned people off there.
What is up did you catch a bad cold when your pump and dump last week got rumbled so quickly? Are you now desperate to manipulate the price so you can get out before you need to settle your trades?
In reply to GoldenAuras, post #38
If anyone has any doubt regarding the quality of your "sources" they just need to read the title of the thread April update. Drilling to start soon in Tasmania. It is July and nearly 3 weeks ago GSLM EEGC's drilling subsidiary was declared insolvent by the federal magistrates court and order into liquidation. Yes they claimed then that cheques were in the post, just as they have been claiming all along that funding is on the way.
So what is the story this time. Exxon are taking over EEGC, EEGC are taking over Exxon. Exxon are taking over TXO or Exxon are taking over Morgan Oil's Kentucky feilds, if the latter then it is a shame that TXO's investment in GBG does not include these assets.
TXO PLC (TXO LN) (0.62p) BUY NEW (0.90p)
http://fox-davies.com/media/26688/txoinitiation200412.pdf
500k buyers lift-off
In reply to MOREFORUS, post #44
Have a really good read through this old marketing report (it is not research, it is marketing) . Where does it say anything at all about the Kentucky oilfields? Strange they are not even mentioned do you not think?
Well what a week that wasn't!
After last Friday's pump and dump and this week starting with lots of hype about an announcement finally coming from EEGC NOTHING has happened. Except that the 21 days for review of execise of power on the liquidation of GSLM has now past. So 3 weeks on from when TXO told us:
"The board of TXO notes certain investor website comments regarding one of TXO's investee companies, Empire Energy Corporation International ("Empire") (Pink Sheets: EEGC.pk) and wishes to clarify that a winding up order has been filed at the Court in Tasmania in relation to a creditor action concerning an Empire subsidiary, Great South Land Minerals Ltd ("GSLM"). That order provides for a review of its provisions by certain interested parties.
The board of TXO anticipates Empire to provide a clarifying announcement as soon as is possible. The TXO board will then update TXO shareholders and a further announcement will be made accordingly."
TXO just look even more ridiculous. Still we have next week to look forward to, when no doubt the hype will continue to go sensibly unheeded by the masses and the end of which will see the GM to vote on authorizing another 400m shares. I hope a few shareholders turn up and ask some key questions like. How much Due Diligence did you actually do on EEGC before you gave OUR money away to them. How come you did not see the winding up of GSLM coming? the case was filed back on 22 Feb ie around the time you were over there. What exactly are you doing to ensure we get as much of our money as possible back from EEGC?
EEGC ACQUIRE LICENCE IN TAZMANIA AND MOVE HEADQUARTERS THERE FOR DRILLING COMMENCEMENT
EEGC TAKES TAZMANIA LICENCE
Form 8-K for EMPIRE ENERGY CORP
http://biz.yahoo.com/e/120720/eegc8-k.html
20-Jul-2012
Other Events, Financial Statements and Exhibits
Item 8.01 Other Events
Empire exercises its debenture rights to appoint administrator to restructure Great South Land Minerals Ltd
Empire Energy Corporation International (Empire) announced that as the largest secured creditor of Great South Land Minerals Limited, it is exercising its rights under a registered mortgage debenture deed over the assets of Great South Land Minerals Limited (GSLM) - (included as part of this 8K Filing) which was lodged with the Australian Securities and Investment Corporation (ASIC) on the 17th July 2010. On Thursday 21st June 2012, the Board of GSLM took affirmative action to place the company into voluntary administration when a motion to wind up GSLM before the Federal Court was enforced. Empire has made certain commercial arrangements with intent to confirm as soon as practical, the appointment of a receiver and manager to act on its behalf as the largest secured creditor of the company. This will enable Empire to work alongside the Liquidator to restructure GSLM so that it may continue on in its pursuit to search for oil and gas in Tasmania.
The Directors believe that the restructure action is in the best financial interests of the company whilst Empire is presently moving to close transactions to receive additional financing to move its business interests forward.
Contact: Malcolm Bendall
+61 3 6231 3529
Item 11.0 Financial Statements and Exhibits
(d) Exhibits
Exhibit
No.
Description
11.1
GREAT SOUTH LAND MINERALS LIMITED ACN 068 650 386
ASIC FORM 309- NOTIFICATION OF DETAILS OF A CHARGE
No where does it say - "EEGC ACQUIRE LICENCE IN TAZMANIA AND MOVE HEADQUARTERS THERE FOR DRILLING COMMENCEMENT
EEGC TAKES TAZMANIA LICENCE"
This is just part of your pump and dump which is being seen through by everyone who has done their research.
"Empire is presently moving to close transactions to receive additional financing" what a tired old lie that one is.
"Thursday 21st June 2012, the Board of GSLM took affirmative action to place the company into voluntary administration"
Another LIE the motion to go into VA was denied. Administration and Liquidation are different things and are incompatible. GSLM is in Liquidation and has been for over 4 weeks.
Does the real Moreforus know you are using his alias on here buystock / ranger wet dream / in the bahamas?
Fruit n Veg
Wednesday, July 25, 2012 6:52:57 AM
Re: None
Post # of 27436
EEGC moving into TAZMANIA expect a market update on TXO and the good old KOREANS stump up for drilling
EEGC taking over in TAZMANIA as i said many times drilling/funding will start very very soon.RE-RATING
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77840524
oilsleuth
Wednesday, July 25, 2012 5:59:49 AM
Re: pitts77h post# 27431
Post # of 27433
I tried to visit the GSLM office today to get the lie of the land but their floor could not be accessed by the lift (obviously disconnected for that floor, all other floors working ok) and the fire escape stairs were locked (standard for all floors). At the street level foyer the GSLM address plate has been taped over with Empire Energy hand-written on it.
I was told by a non-GSLM contact I spoke to (I regard him as reasonably reliable) that the office lease is in the name of Empire Energy as is all the property in the office.
I'm wondering if the Liquidator could be being given the runaround. There still must be GSLM financial records he would have a right to see/seize despite any funny business being played by Malcolm and his sidekicks.
If I were the Liquidator I'd be taking a close interest in any property transfers made from GSLM to Empire in the past 6 months or longer. Also the office lease history - there has never been any previous suggestion that it was in the name of Empire Energy.
In reply to the drunken duck, post #50
Truly Pathetic Buystock / Ranger Wet Dream / moreforus (on here but not the real one) / In the Bahamas / fruit and veg (only post removed from ihub). Your attempts to pump and dump TXO have FAILED! Get used to it and either take your losses or hold a pray they can get over the massive blunder they made when they got wrapped up with Malcolm Bendall.. The trouble is, until they put Empire into administration when they can't repay the loan on 24 Aug, every time EEGC come out with another pack of lies in an 8k it puts them in another embarrassing position.
"The board of TXO anticipates Empire to provide a clarifying announcement as soon as is possible. The TXO board will then update TXO shareholders and a further announcement will be made accordingly."
Well we have had the long anticipated lies from Empire where is the TXO board's update?
From David Geer at MRT:
The licence is still going through the extension of term process. It has reached the stage where the extension has been refused and is now subject to an appeal period. Once that appeal period expires then if no successful appeal is made then the status will be changed to refused.
As GSLM is in the hands of the court appointed Liquidator you should liaise with Barry Hamilton of Barry Hamilton and Associates whom is now looking after matters relating to GSLM and the licence.
There are still plenty of lies going around about drilling in Tasmania, but they are lies. Hopefully Tim has the backbone to pull the plug on the EEGC loan on 24 Aug and focus all efforts on the GBG project in Freeport. If he ducks the issue again by extending the loan again, TXO will follow the same route as GSLM
hearing they have acquired a licence in KURDISTAN news any day
You are so full of it it is untrue
In reply to Drunken Sailor, post #52
An RNS is promised "in due course" to tell us what Tim has decided about the EEGC loan, which expired a week ago. For decent properly run companies due course is as soon as practicable after a material event has occurred, ie last Tues would have been appropriate, but I need say no more.
So while we wait with baited breath to see whether Tim has the backbone to do the right thing by TXO shareholders or whether he is still ensnared by Malcom Bendall and his lies, it is worth pointing out that there is every likelihood that EEGC will lose the Smart Win case by default on 14 Sep and go into administration followed by liquidation to pay Smart Win approx $4.5m an any hope of us seeing any of our $1.5m will have gone.
https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=yDsW1hjcaHwTZdwXcrFFNQ==&system=prod
https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=go1g0zw18Vlowdb6vzX1DQ==&system=prod
Can TXO's already tattered credibility survive yet another monumental blunder over the EEGC loan? I very much doubt it.