EEGC - another small oil-fellow

[fous]

This one just came up on my filter today. Nice to see its already got some interest from the 3SOF community. The Recent news and record volume is very bullish. I'll be adding a small position on Mondays open.

TA: We had a G-pattern breakout on fridays price action. Moday could be a big day for EEGC price action. Friday's price action rose near the prior peak in early July only to be met by strong resistence. $.31 is a key # for us to break on this one. Price action may break it but i won't be surprised to say the least if we have a rally to around $.31 and experience another consolidation period. I'll be watching close to possibly make a sale around $.31 for a nice 50% gain.

Price action closed near the prior peak of early this month so we are building support in this area.
Record volume was achieved at 6,823,900 shares traded. Thats a 2095% increase above average volume.

Price action has made several bounces of the 50 Day EMA over the past months but finally achieved victory on friday to close high above it.

Good luck everyone,

-fousc

[gmarc66]

Why is this dropping?

Not good..don't like that.


julia

[fous]

probably cause i bought it this morningd

[dickfromalberta]

  my purchase wont help it either  

[yuyjust]

I swear it's me who cause the drop. I had the worse timing in all my position. I would stared them for hour looking for little pull back that never came, then I decided to jump in then boom it start going down. What a luck I had lately.

[gmarc66]

Hey Fella's....no, it was me...I jhave that special ability that allows me to buy something just before it turns in the wrong direction...i'm really very good at it...as u can see.

Don't worry...it does that on purpose just to make me sweat it out for awhile...then it will turn for the better just when I least expect it. 

Good luck to us!

juila

[runforthedoor]

  Julia...you bought at .19 on friday, didn't you? You were up about 70% at one point friday when it got to .28/.29...you could have sold for a profit and bought in lower today.  I do think it has a good chance of going higher from here though. This AM I didn't have unsettled funds, but I picked three I would have bought with settled funds just to watch how I would have done...three looked strong at the open..EEGC, TIDE, and AMEP...would have made a good one day profit on AMEP, a decent one on TIDE, but EEGC surprisingly went right down after a momentary strong open...of the three picks, I thought EEGC and TIDE had the best chance for a good gain today...but instead it was AMEP that went crazy the first half of the day. Tide went up 20 cents before giving it all back. So with settled funds, I'd probably be holding EEGC tonight also.    It didn't drop much...the selling seems to be over, so maybe it will start another leg up tommorrow. If you get up 70 % tommorrow on it, you may want to consider taking a profit.   

[gmarc66]

Hey RFTD....yes, I did get in at .19 and was thinking about selling when it hit about .28, (thats's about 50%, not 70%..would have probably sold it immediately if it did go up 70% in 10 minutes!) but, news had just hit and I thought it may go over .30...was wrong

Actually, I too wanted to re-buy AMEP  and also buy TIDE on open, but my trading platform had a major makeover and was still trying to figure out how to operate it..so, I lost out today

Yes, if it does move up nicely soon, I will most likely sell unless I think its good for more...let's just hope it moves up!! 

good luck on all your trades!

julia

[setravis]

Have some movement today.
+17.50%....... Volume @ 1,271,428

[gmarc66]

Do i have the worst timing or what...i sold it last week at a loss and at the low of .14!!

I just can't get it right.

good luck to all holders

julia

[gmarc66]

Here we go again?

2005-12-01 10:43:01 
Empire & Zeehan Zinc Ltd Announce Independent Median Valuation of A$151 Million (USD $111 Million) and Estimation of the Current in Ground Gross Resource Value at A$1.36 Billion (USD $1.01 Billion) 

--------------------------------------------------------------------------------


Business Editors / Energy Editors

LENEXA, Kan.--(BUSINESS WIRE)--Dec. 1, 2005--
Malcolm Bendall, President of Empire Energy Corporation
International (Empire) (OTCBB:EEGC), today announced that Anderson &
Schwab Australia Limited has determined a business value for Zeehan
Zinc Ltd (ZZ) to lie within the range A$112.4 Million (USD $83
Million) to A$190.1 Million (USD $140 Million) by substantial
geological and financial modeling of the business. Mr Bendall said,
"We have assessed the gross value of the in ground resource held by ZZ
to be A$1.36 Billion (USD $1.01 Billion) based on current metal prices
and exchange rates." ZZ is a mining company in western Tasmania,
Australia in which Empire, through a subsidiary, has a 37.5% ownership
interest.
The Independent Valuation and Assessment of the Mineral Assets of
Zeehan Zinc Limited was prepared by Anderson & Schwab Australia
Limited, a well-known and respected International USA-based mine
evaluation and valuation firm. The ore is all classified as 'near to
production' and exploration asset values have been determined by
calculation of Net Present Value/Discounted Cash Flows and Exploration
Expenditure Multiplier methods and are in accord with industry
standards for valuing mineral assets.
The report confirms, based on current London Metal Exchange prices
and currency exchange rates and the ore resource as now defined to the
Australian Joint Ore Reserves Committee (JORC) standards, that the
deposits should be economic to mine and sufficient to meet the
requirements of the company's existing permits. Mining operations are
intended to commence during 2006 subject to funding, completion of a
flotation plant and the review of mining and environmental permits.
Currently there are 3,300 tonnes of hand sorted ore stockpiled on site
that have been mined and are ready for processing or sale. An
independent consultant has reported a measured and inferred resource
totaling 6,765,670 tonnes of ore, as set out in the JORC code,
containing grades of 5.2% Lead (Pb), 4.8% Zinc (Zn) and 52 grams/tonne
of Silver (Ag). Based on an expected maximum modeled production rate
of up to 400,000 tonnes of ore per annum, the mines should see at
least 10 years of production.
Mr. Bendall said: "The Anderson & Schwab Report clearly
demonstrates our belief that an economic resource exists at the
Comstock and Oceana Mines and shows the potential at current metal
prices and exchange rates of high returns from the venture. The 6.7
million tonne resource estimate indicates the potential for a 400,000
tonne annual output and mine longevities beyond the 10 year horizon.
We believe the 37.5 percent investment in ZZ has been validated and
should result in a significant return and benefit for Empire
shareholders. The price of the metals is continuing to rise and world
demand is increasing. The independent appraisal of this solid asset is
anticipated to accelerate the move forward toward financing the
business plans of the company."

[gmarc66]

And here we go agian....late pm news caused a little rally then near eod it dropped a bit below open...very strange..but, the news appears good?  hmmm...very strange. But, this new year alot of stocks seem to be turning around and moving in the positive..so maybe EEGC will do it also...anyway..for what its worth..here is the news.


January 31, 2006 - 2:26 PM EST           

Empire Reports $100 Million (USD) Financing Arrangement and $1,028,000 (AUD) Accrual on the September 2005 $6.1 Million (AUD) Seismic Contract
Empire Energy Corporation International (Empire) (OTCBB:EEGC), having previously announced its Great South Land Minerals Ltd (GSLM) subsidiary's execution of a September 2005 $6.1 million (AUD) seismic contract, now announces it has accrued $1,028,000 (AUD) expenditure in January under clause 3.2 Payment Terms of that contract. The contractual obligation on GSLM's 10-year license was renewed in October 2004 for a period of five years. It was understood on the renewal of the contract that GSLM would start the $6.1 million (AUD) seismic survey in this Australian summer period and the company expects an additional accrual of approximately $1.0 million (AUD) on February 1, 2006.

In the circumstances therefore the company believes it has performed all of its obligations under the contract which were in its control. The company has taken independent legal advice as to the fulfillment of these conditions and is satisfied that they have been duly and completely fulfilled and that it is therefore in a position to continue with its operations in respect of such licenses.

Concerning financing agreements, a U.S. director, Tad Ballantyne, reported from London today that he is pleased that the long process of identifying and selecting additional proper financial intermediaries to arrange both bridge capital and IPO capital has been completed and believes the engagement of the intermediaries will provide all the money necessary to bring the Zeehan Zinc Ltd (ZZ) and GSLM operations into cash flow. The numerous independent appraisal reports needed for validation of the enterprise value required by intermediaries have been delivered. These time-consuming reports were critical in pricing both bridge and IPO capital. Any negative effects resulting from the long processing time to generate the appraisals was more than offset by the increasing price of the underlying commodities and the corresponding increase in the underlying valuation.

The company is therefore pleased to announce that it has entered into a letter of engagement with Libertas Capital Plc, a public company listed on the AIM Market of the London Stock Exchange. Libertas Capital is the Nominated Advisor and broker for the AIM process and has agreed to assist the company with the substantial fundraising required to accelerate the company's business plans.

The Libertas Capital team has a strong record of assisting companies in the mineral resource and renewable energy space in the London and international securities market. As part of the scope of work, Libertas Capital has agreed to expedite the admission of ZZ to trading on the AIM market. It is anticipated that such admission and related GBP 15 million (US$26.5 million) fundraising will take place within the next few months.

Andrew Greystoke, Partner of Atlantic Law Llp, the legal advisors to the Company during the last two years in the United Kingdom in respect to the AIM admission and general matters, commented: "We are pleased that the efforts of Mr. Malcolm Bendall, the Chairman of the Company over a number of years, are now bearing fruition through the proposed flotation on AIM. We consider this a tribute to Mr. Bendall that reflects the substantial of amount of time, money and effort that has been expended in reaching the present situation."

Mr. Noble Trenham of First Global Securities Inc. (FG), a U.S. stockbroker and investment banker and one of the original advisors, noted: "FG had been ready to provide the initial $5,000,000 (USD) to fund the seismic survey to be conducted in the summer of 2005 that was unfortunately delayed by external events related particularly to the strength of the natural resource industry and the unavailability of equipment. FG remains ready to provide the funds for such a survey as soon as such equipment can be obtained on site. FG has already funded the initial seismic planning work."

In the meantime, the Company, in collaboration with the federal government, has been able to improve its seismic data acquisition parameters and generally to develop the geological information relating to the site and its oil-bearing potential together with the circumstances under which such potential can be realized.

Mr. Keith Laing, Chairman of Empire, who had been present at the original financing discussions two years ago in Europe, stated: "I am delighted by recent developments and that all of the company's operations continued as rapidly as possible within the contractual framework which, as noted above, remain effective. Recent increases in oil and gas prices and in mineral resource values will, in the light of current circumstances, substantially benefit the company and its operations. The availability of the leases and licenses to which the Company is legally entitled will enable the Company to proceed and in due course realize substantial shareholder value."

Mr. Michael Roberts, President of MR Associates, LTD (MRA), stated: "GSLM has done extensive work to evaluate the property and has provided access to their substantial library facilities and experienced staff. This has encouraged MRA, not only to farm into the block but also to begin preparations for permission to drill additional wells within the farm-in area."

GSLM entered into a contract with Terrex Seismic Limited (Terrex) in September 2005 to produce an additional 1,400 kilometers (900 line miles) of seismic survey over the property of the Company. Initial planning is complete and awaiting permitting. Mr. Steve Tobin, President of Terrex, said: "We are pleased to undertake this exciting work for GSLM. The acquisition of seismic data in Australia has significantly increased during the past summer season but unfortunately equipment and personnel have been in short supply due to industry demand and this has had the effect of delaying the operations of the Company. GSLM has previously paid over $3.5 million (AUD) for earlier seismic work on this part of the property. Additional equipment has now been acquired for the 2006 survey and the Company views the outcome of the survey with confidence."

The monies to be arranged by Libertas Capital, which are expected for both natural resource projects, are expected to be in the order of $133,000,000 (AUD) which will be utilized partially to accelerate the development work on the leases by both the extended seismic work which has already been contracted, and the drilling and development work which has been planned to be undertaken.

Jakob Kinde, the Executive Chairman of Libertas Capital, stated: "We are delighted to have been appointed as Nomad Broker and Advisors to these two very exciting projects. We believe that these two assets will be received very positively by the international investment community."

Dr. Clive Burrett, Director and Chief Geologist to the Company, expressed his view that the prospects for the Company's property compare favorably with areas in which some large discoveries such as the South Oman Basins and the Cooper Basins have been made. He considers that this property represents an outstanding opportunity for the Company to capitalize on the time, money and effort that has been invested in its development over the last 20 years and looks forward to the commercialization of the possible recoverable three billion barrel (Oil Equivalent) potential. The Tasmanian government, communities and people stand to benefit from the twelve percent royalty that may be collected from any commercial production.

Dr. Burrett stated, "The recent data obtained by the Company and its consultants has also confirmed the over $1.2 billion dollar (USD) zinc/lead/silver resource of the Company's properties on the West Coast of Tasmania."

Mr. Bendall said, "I praise God for his supplying of the highly qualified personnel and funding to complete the execution of the vision and I thank the Tasmanian Government and shareholders for their continuing support."

This press release contains 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

[wrangler]

EEGC : might be heading north. Trading above 200 day MA. MACD is in a positive convergence,MACD line crossed over MA line along with crossing over centerline. Volume has slowed but keeping it's high along with it. All signs points towards a bullish upward trend.
Goodluck trading to all
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