Posted On: 10/07/2015 5:58:02 PM
Post# of 63831
EEGC - I got to be quite friendly with Mark Callaway before he past away. He read the seismic research from EEGC and compared it to a Shell find and said there is over 30 billion barrels of oil depicted in the research. I know nobody will believe that but if you think about it this could be why everybody involved in their past dealings want a piece of the action. This is likely the reason Smartwinn retained their stock after the agreement. The price of oil is way down but will rise again next year and if you do the math at $50 a barrel that is a potential 1.5 trillion dollars. If they can reclaim just 10% of that everybody owning the stock will be fat dumb and happy. Also the government of Tasmania will receive 10% tax on the oil sale price. Will that make them happy. Bet on it. The job creation alone will make the economy of Tasmania thrive. Everybody wins. I can't see any reason why EEGC won't drill in Tasmania.
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