EEGC - another small oil-fellow

[cumulina]

I bought today at 0.26

The volume is not in the millions, but I suppose that could change 

The news I reacted on was this:

Empire Strikes Back
07/06/2005 11:29
Empire Energy Corporation International (Empire) (OTCBB: EEGC) announced today that more than 3 billion barrels of oil equivalent may be recoverable onshore in the Australian state of Tasmania. This is one of the conclusions of a $550,000 four year study of the island's petroleum systems carried out by the University of Tasmania and funded by the Australian Federal Government. Welcoming the submission of the project's final report to the Australian Research Council (Canberra), Malcolm Bendall, CEO of Kansas-based Empire Energy Corporation International, which holds an exploration license over the most prospective half of the 7 Million acre basin said: "The results are very encouraging for our company and our 100% owned Australian subsidiary Great South Land Minerals Limited (GSLM). The undiscovered potential resource estimation was based on a calculated generative potential of 150 billion barrels with a Generation Accumulation Efficiency of 7% and an average 31% recovery factor from in-place petroleum."

The study coordinator, Dr. Clive Burrett said: "Our project has confirmed that the Permian Tasmanian Basin is a highly prospective frontier basin comparable in size and geological history to the very productive basins of Oman in the Middle East and the Cooper Basin in central onshore Australia. The basin contains the famous Tasmanite Oil Shale which is qualitatively one of the best petroleum source rocks in the world, and which we know has generated low sulfur, heavy oil seeps in the south of the basin. The Tasmania Basin overlies a fold-thrust system that contains sedimentary sequences similar in age, maturity and rock sequences to the Appalachians, USA. The Ordovician-age limestone contains wet-gas and is very similar to the Blackriver and Trenton Groups of North America. The foldbelt includes domes up to 6 miles across with half-mile closures comparable in size to structures in the Permian Basin of Texas and the Long Beach Field of California."

Mr. Bendall is enthusiastic: "Now that our initial research has been completed, in the next few months we intend to embark on an aggressive exploration program targeting areas identified in the university study and in our last seismic survey. We are optimistic that we will discover economic petroleum in 2005-2006. However, everyone involved should still be aware that this is a frontier basin with no current production and has the high risk and uncertainty of any new undeveloped area."

Since acquisition of GSLM in June 2005, Empire has approximately 76 million shares outstanding of an authorized 100 million shares.

[Ramsburg]

This one goes to my watch list.

Thanks Cumulina

[gmarc66]

Hi Cumulina..

i will keep this on my watchlist!

other than iwwde, hope your trades are doing well.

thanks,

julia

[cumulina]

This little guy turned out to be the only bright spot on this otherwise gloomy day.

- At least for the stocks I hold now 

Take care, all.

Cheers!

[runforthedoor]

  Climbing the last four days and volume on the rise. Not sure why...maybe because everybody is buying anything that rhymes with oil/energy. 

[runforthedoor]

  Going up today...and more news just out which could help the climb...


  http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2005%5C09%5C30%5C70897410.html%26clientid%3D168%26provider%3DBUSINESS_WIRE&symbol=EEGC

[gmarc66]

News just out..starting to move!

September 30, 2005 - 11:23 AM EDT      
EEGC 0.19   0.055  

Today 5d 1m 3m 1y 5y 10y



Zeehan Zinc Reports $A1.1 Billion Resource
Empire Energy Corporation International (Empire) (OTCBB:EEGC) announced that an independent report commissioned by Zeehan Zinc Ltd (ZZ) has identified a measured, indicated and inferred resource of 6,781,510 metric tons of ore at the old Comstock and Oceana mine sites near Zeehan, Tasmania (Australia).

The ore, which averages 5.1 percent lead, 4.8 percent zinc and 52 grams per metric ton of silver, has a gross, in ground potential value at today's metal prices and U.S. currency exchange rate of more than $A1.1 billion (Australian dollars).

Zeehan Zinc CEO Mr. David Tanner said, "This is an exciting and potentially very valuable deposit for Tasmanian jobs, the economy and the company."

The annual rate of mining and milling is currently approved at 200,000 metric tons, and the gravity separation plant already established on site can handle twice that tonnage. Production of lead and zinc concentrates will require construction of a flotation plant which is currently being designed, together with a tailings disposal facility scheduled for construction this summer, subject to planning and other approvals.

The resource that was estimated in the independent report complied with the Australasian Code for Reporting of Mineral Resources and Ore Reserves 1999 and was completed by a competent person as defined under that code.

Empire (EEGC) recently acquired 37.5 percent of ZZ through a subsidiary and has entered into an agreement that may increase, subject to certain conditions, Empire's shareholding to 100 percent. Malcolm Bendall, CEO of Empire and Chairman of ZZ, said: "This acquisition and valuation is a huge strategic leap ahead for Empire. It is a significant asset that we believe may be capable of being leveraged to meet the objectives and future financial commitments of ZZ, GSLM and Empire."

This press release contained forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect," "anticipate," "estimate," " believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.


Empire Energy Corporation International
Malcolm Bendall, 913-469-5615

[runforthedoor]

  Looks to need to break .21 for a leg up from here, but if it falls back you may be able to buy a dip and ride to .21...we'll see. I'm watching now. 

[gmarc66]

HEY RFD...sorry, was posting the news release just a couple of minutes behind you...wasnt there when i was posting it..i'm just slower in doing it then u...hee hee

Glad to see your quick on the news posting...thats what causes people to get in early right on the release of the news...great work!!!

Well..i did get in at .19...didn't really hesitate this much this time.....i'm learning to be ready to jump in on good news after checking to see the response from the news...I think it will do well.

Good luck to  everyone holding!!

Cumulina...u finally may see a payday soon!!


julia

[runforthedoor]

  I'm not buying anything today without settled penny funds so I can exit quickly...but watching it...broke .21 and looks good. 

[cumulina]

Oh Julia!!!!

I didn't see that jump untill it was up 75%!

And I'm not in it 

Good luck, and lots of %%% to you who are!

Cheers!

[poorman1]

Market Cap?  Financials?

Does anyone have this info or where to obtain it?

Thanks,

poorman1

[setravis]

Something may be cooking here.
Break of the down trend line Friday.
Closed above the 50-day MA


Technicals
Record Volume
Most Actives
Percentage Gainer

Last Price Quote is:
37.54%above 13-day EMA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $10.35 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

[gmarc66]

Hi Setravis!!

I love it when I see your charts go up with positive comments on stocks that I've bought into

Something may be cooking here.
Break of the down trend line Friday.
Closed above the 50-day MA

Let's hope it goes up and away next week..I love it when that happens too! ]

julia

[runforthedoor]

So you held, heh....I think it was a momo/friday selloff...and it has a good chance of continuing up next week. The Good news should drive it.... Looks like you made a good impulsive buy.