Archive for the ‘Empire Energy Corporation International EEGC’ Category

Beacon Equity Research Featured Company: Empire Energy Corporation International (EEGC.OB)

Friday, February 27th, 2009

Empire Energy Corporation International (EEGC.OB) is an oil and natural gas exploration company. In 2005, the company acquired the publicly traded Australian Company, Great South Land Minerals Limited, through a reverse merger. Empire has raised $12 million of capital since January 2007.

Empire plans to explore and develop projects in onshore areas of Tasmania in Australia. The company has exploration rights to an onshore petroleum license in Tasmania through their wholly owned subsidiary, Great South Land Minerals Limited.

The company is hopeful the Tasmanian property will yield as much as 3 billion barrels of oil equivalent. The license allows Empire to explore public and private land within the licensed 15,410-km² area in the Tasmanian Basin.

The company has plans to commence drilling in August 2008 on eight to fifteen wells. Empire has conducted extensive research and compiled a database of seismic, gravity, magnetic, geochemical and geophysical data. The company has also paid for independent expert reports to prove the potential for large oil and natural gas resources on the Tasmanian property.

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Empire Energy Corporation (EEGC.OB) International Received Tasmanian Government Approval to Continue Thunderbolt #1 Site Preparation and Top Hole Drilling

Friday, October 10th, 2008

Empire Energy Corporation operates in Tasmania’s central and northern basins, becoming a leading low-cost finder of hydrocarbons. Today’s announcement by the state government of Tasmania gives permission to prepare the lease for the Thunderbolt #1 site and to drill the top hole. Provided that the rig is inspected, approval has also been given to move the drill rig to Thunderbolt #1 on completion of the previous project, Bellevue #1.

Expectations for the new area will solidify once the target depth of 400m at a hole size of 17.5 inches is completed. Seismic data from 2006 and 2007 show potentially large reservoirs at 800m and 1,250m with possible coal pockets in the sandstones at 550m, 1,270m, and in the limestones at 1,800m and 2,100m, and 2,600m. Geographic indications suggest that the Thunderbolt Anticline sandstones are similar in age and type to producing reservoirs in Oman and in the Cooper Basin (Australia). The limestones are similar to producing reservoirs in the USA (such as the Viola and Trenton Formations) and in the Tarim Basin of Xinjiang in North West China.

Empire Energy CEO Malcolm Bendall stated, “We expect to begin immediately drilling and testing potential reservoirs and three coal measures in the Triassic and Permian sandstones plus Permian oil shales before we encounter potential reservoir sands in the Siluro-Devonian and limestone in the Ordovician. Thunderbolt #1 has equally exciting prospects.”

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Does Energy Empire Corporation International (EEGC.OB) Have the Answers to the World’s Energy Crisis?

Wednesday, September 24th, 2008

Sometimes innovative ideas are washed away; sometimes brilliant ideas are overlooked. Malcolm Bendall may be a genius who has been overlooked.

For over 30 years, Malcolm Bendall, the CEO of the Kansas-based company Energy Empire Energy Corporation International has been trying to convince the world that there is undiscovered oil and gas buried in Tasmania, Australia, where neither has ever been found. In the process, Bendall has raised tens of millions of dollars for seismic and other geological studies. Soon, we will know if Bendall is right.

Last week, Bendall announced that Empire has become the first company to drill for oil and gas in Tasmania. Upon starting this process, it has been discovered that the independent firm, RPS Energy, has estimated the prospective presence of over 2.2 billion barrels of trapped petroleum on Empire’s Tasmanian-licensed area. Based on the current oil prices in the U.S., these barrels would be worth over $230 billion.

If Bendall is right, this will change the economy of the world. Two weeks ago, when Hurricane Ike hit Texas, there was widespread fear that oil refineries would be destroyed. In certain parts of New Jersey, a record number of instances of price gouging occurred after Ike, with gas prices rising as high as $5.59 per gallon. Many people feel the sole reason we are in Iraq is to attempt to stabilize oil prices. If there is oil in Tasmania, relief may be in sight.

One thing is certain. Americans are having a difficult time paying for gas and oil, and there appears to be a shortage. If Bendall and Energy Empire are right, the face of the world will change for the better.

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