TXO.plc (Texas Oil & Gas) and EEGC.pk (Empire Energy) shares are poised to take off.
I've got a bit tired of reading the nonsense and speculations over at Interactive Investor.
So here is a brief history so you can connect the dots from the public information available.
Empire Energy owns as Exploration Licence for over 3 million acres in Tasmania
Has discovered Oil & Gas resources estimated at between $7-15 Billion
Over 1 Billion barrels of oil & 799 Billion cubic feet of Natural Gas.
Low development and transportation costs.
At the end of 2010 Empire was all set up and ready to commence drilling when along came Smart Win International Ltd. Empire's project of drilling for oil came to a standstill before it even got underway as the two companies locked horns in the courts.
One year later and progress has been made. Empire Energy have commenced a counter claim for damages.
'discharging previous debt caused by Smart Win International Ltd and subsequent legal action (taken by Smart Win against us). Empire's defence and countersuit has been independently funded and we believe our legal counsel, Paul Batista Esq. (New York) has now gained the legal advantage for Empire and is counter suing for significant damages of over $1 Billion.'
Meanwhile TXO has come to the table to assist Empire Energy to get drilling finally underway.
'a convertible loan agreement under which TXO has made an initial payment of US$100,000 and whereby, subject to raising a further US$4.9m, TXO would have the right to fund the drilling program and operating expenses of Empire, with the call option, entirely at the Company's discretion, on conversion to acquire 49% of Empire's oil drilling licence in Tasmania, Australia.'
Empire to focus on drilling both of the Great South Land Minerals prospects, Bellevue#1 and Thunderbolt#1 in this Australian summer 2012
Empire announced new plans to extend the drilling to a third site, Mt Lloyd dome, within the existing lease 14/2009.
Empire Energy has also been investing in new technology.
FASER technology Gas-to-Liquid
TXO has recently been issuing Warrants, Options and Shares in preparation.
TXO and Empire are both poised and ready to go. This will see Empire complete the drilling which should have taken place at the end of 2010. And finally see the fruit of it's labours after 10 years of research and discovering the reserves. Once the oil starts flowing, so to will the money into investors pockets.