Very tired of nonsense on the Interactive Investor - TXO discussion board.
Unfortunately one person in particular under the name of 'Drunken Sailor' has some personal vendetta against TXO and doesn't much like EEGC either. For months he has been posting negative posts on the TXO boards with a lot of it focused around EEGC and his claims that Malcolm Bendall, Chairman of EEGC is "slippery and misleading". Some other bloggers have seen him for what he is. Unfortunately some get lost in his confusing slander and start doubting.
Below are some of the points Drunken Sailor has brought up which I will later comment on.
I'm just glad that only a tiny proportion of investors contribute to this board and I think that TXO's 4 Week Trading Volume = 152,487,468 speaks for itself and demonstrates a lot of interest in the company.
Drunken Sailor by his own admission has angered both TXO & EEGC (Tim referring to Tim Baldwin, Chairman of TXO.plc).
"I then put all this to their NOMAD and got threats of legal action back from Tim - so nice of him to bother to contact me then!"
And all this from an investor, if you can call him that, as he only owns just one single share worth less than 1 penny. If there were not some personal vendetta he would have just sold all his shares and moved on, not to keep posting negative slander. Not sure what he hopes to achieve by hanging onto a single share!!! If he honestly had genuine interest in the company he would have had more say by being a share holder with a larger number of shares. The more shares the louder your voice at the board table.
"I used to have 883351, until I sold 883350 of them on 16 Jan having found out that I had been deliberately misled (by the Empire announcement that TXO repoduced on 11 Jan) which TXO then refused to clarify despite several e-mails which were forwarded to the board and a phone call" Drunken Sailor.
Drunken Sailor believes "Everything about Empire stinks to high heaven and TXO are likely to be contaminated by it".
He claims that EEGC have not discovered oil in Tasmania. "They have not discovered anything. If they ever get to drill, they have a 2% chance of discovering something".
Everything to Drunken Sailor revolves around a magical $50m. From funding the drilling in Tasmania, getting FASER technology developed, to the Bahama project. But in fact it is just for the Tasmanian project. Also he does not understand about the FASER technology and does not understand who has the rights to it, and he claims EECG do not own the patient.
"If the JV is genuinely done, with $50m moving into Empire's bank account (and not just another misleading announcement) , then that would be a massive game changer as even if they subsequently failed to strike oil in Tasmania, Empire would become solvent even after drilling costs and therefore the 20% TXO share becomes worth a lot more than they paid. However the following are FACTS not opinions:" by Drunken Sailor
"It is FASER technology - all sounds a bit star trek!
I must confess I never read much beyond: 'Empire is also intending to develop its FASER (Force Amplification by Stimulated Electron Resonance) technology' Intending to develop says needs a lot of time and money before anything comes of it. So I just parked it at zero value, but could become more interesting if they got the $50m. Empire have no other money to develop it. There are also some big question marks over how good a deal Empire Shareholders got out of the GTL stuff - that requires significant development as well and only applies in North and South America, so the comments on it adding value in East Africa were fairly dubious" Drunken Sailor.
"it looks like Empire do not own the patent for FASER Technology as it is actually owned by Robert H Zawada." Drunken Sailor.
"None of this PR was true. There was no $5 million sale, there was no $1 million advance. That was just as false as the Bose Einstein nonsense" Drunken Sailor.
Bahama project: "worth a quick look at the BPC CPR in particular the chances of success - still no guarantees of course, but overall the chance that the find no oil in any of their prospective targets is 35% which gives therefore a genuine overall chance of success of 65%. Compare that to the figures in Empires CPR and ask who is going to give $50m to Empire" Drunken Sailor.
I can not personally comment on the East Africa deal or some of the other deals going on as I know little about them. But I do put my money where my mouth is.
I personally own over 800,000 shares in TXO and will be looking at investing more in TXO and EEGC when my finances permit. I personally know a Geologist who worked with the exploration phase of the Gas & Oil in Tasmania and know that EEGC claims about their discoveries, to be true. I have also rubbed shoulders with others in the know over the last several years in London.
I feel sorry for those investors who did not see their investments in EEGC boom at the end of 2010 when the Drilling in Tasmania was due to commence, but this was out of the hands of EEGC as it became a legal battle and drilling got put on hold.
The $50m for the Tasmanian project is being finalised. “Empire has forwarded draft agreements and obtained a commitment from the principals to proceed, with negotiations, to finance the Tasmanian oil project through a joint venture with an Asian financier, NBD partners. Through the proposal, NBD partners intend to earn a 49% interest in the Tasmanian Basin tenement, held by Great South Land Minerals Ltd, EL14/2009, in exchange for an investment of USD $50 million. Directors of Empire intend to be holding meetings next week in Asia with a view to effect the completion of this deal.” http://www.new.empireenergy.com
Even if EEGC do not get funding from NBD partners I am sure they will raise it by other means.
Another thing in their back pocket is Empire Energy is counter suing SmartWin for significant damages of over $1 Billion. http://www.new.empireenergy.com Empire is also sitting on a fortune of Oil in Tasmania. I'm certain sourcing funding will not be an issue.
The FASER (Force Amplification by Stimulated Electron Resonance) technology or Bose-Einstein technology. I am personally aware that EEGC have worked in development of their own version of this technology which has devised from years of research stemming from predominantly Albert Einsteins and Nicholas Teslar's research on electrical and resonance theories. I personally have had an interest in following this technology as I'm interested in the Science behind it and I'm interested also in it's healing benefits. This technology if you understand the science can be used to produce Magnetic fields, produce electricity, change gravity, shift time, change the properties of matter and ionisation. EECG are focusing on a fraction of it's potential. If you wish to research more on the science I would suggest starting by watching some of Nassim Haramein's YouTube documentaries.
There is more than one company with FASER technology. Much like Fraunhofer-Gesellshaft developed MP3 technology, but that didn't stop SONY some 15 years ago coming out with MP3 players and more recently Apple with their iPods & iPhones. Empire have developed it's own FASER and Gas to Liquid technology which will also be used for other applications. This has only been touched upon so far in it's Press releases.
"Empire is also intending to develop its FASER (Force Amplification by Stimulated Electron Resonance) technology that has many applications, including as a possible application supporting the enhancement of the power supply and the productivity of the gas to liquids technology. Another exciting application for this revolutionary power supply under development is that it can be used in a method as a treatment system for chronic disease conditions. The invention has been designed using theoretical concepts of quantum biology. The principles of operation are based on the device’s ability to stimulate a Bose-Einstein condensate and excitation of the Frolich resonance in living tissue. The wave numbers necessary for this excitation are derived from the solution to the equations for optical photon scattering in living tissue generated by optical photon excitation. The establishment of this superconducting state facilitates DNA replication, transcription, and translation, thereby allowing the proper formation or regeneration of healthy tissue. This superconducting state provides the conditions necessary for establishing the violation of time reversal invariance in living tissue. Arrangements are currently underway to do supervised medical trials of the technology both within the USA and Europe as a precursor for the global commercialization of the unit.” http://www.new.empireenergy.com
I am positive that there will be many more Press releases coming out over the following months with increasing interest. Remember, we are at ground zero with very undervalued shares. There may be a bit of a bumpy start and over the next weeks to months, with some peaks and troughs. It may feel like two steps forward and one step back. But over the next year and time to follow should see some nice returns on investment. We should see some proof by the end of April. As the drilling in Tasmania takes place the share prices sill rise. The cost of the Barrel of oil will also continue to rise. I for one will heed the advise from my sources, use my knowledge and patiently await further news as it unfolds over the coming months. I will definitely be hanging onto my investment and look at increasing my share-hold. Hope we again see some of the historical figures reemerge, like the time between 2001-2006 with prices between 10 to 24p per share.