Should you load the boat? My opinion is to have a
Post# of 403
Posted On: 07/05/2015 3:08:26 PM
Should you load the boat?
My opinion is to have a nice amount of thia stock in your portfolio, and here are some of the reasons why:
EEGC and its ownership in GSLM have spent over $65 million in research for oil and gas in Tasmania to date. They have seismic data proving there is oil in Tasmania and heavy in two locations.
After much hunting they closed a deal with Smartwinn and as a joint venture and an initial $5 million to drill action to drill began. Hunt provided a drill rig and it was set up and prepared to drill. Hunt was waiting for the final payment and was prepared to drill.At that time Smartwinn tried to get a bigger piece of the action and EEGC stuck to the contract and said no. That's when the operation stalled and the law suits began to surface. It was discovered that the Hunt rig was not approved by the government and not capable of reaching the necessary depth and this was the basis of another law suit. All the while EEGC was paying Hunt a large daily sum to keep the drill in place at The Bellevue location. Well Smartwin through the efforts of Paul Batista decided to settle with EEGC and decided to keep the terms a secret. They did keep the 32 million shares and resumed their joint venture. By the way it should be noted that the Government of China had to sign off on the settlement.While all this was going on a new partner surfaced we will call the Irish investors. They have been paying for the continual operation of the office in Hobart Tasmania and will be a major financial contributor of the operation going forward. There are more details to many to type in here but you can see many parties are involved and want a share of the oil profits. So to answer your question should you load the boat? I would and did.
My opinion is to have a nice amount of thia stock in your portfolio, and here are some of the reasons why:
EEGC and its ownership in GSLM have spent over $65 million in research for oil and gas in Tasmania to date. They have seismic data proving there is oil in Tasmania and heavy in two locations.
After much hunting they closed a deal with Smartwinn and as a joint venture and an initial $5 million to drill action to drill began. Hunt provided a drill rig and it was set up and prepared to drill. Hunt was waiting for the final payment and was prepared to drill.At that time Smartwinn tried to get a bigger piece of the action and EEGC stuck to the contract and said no. That's when the operation stalled and the law suits began to surface. It was discovered that the Hunt rig was not approved by the government and not capable of reaching the necessary depth and this was the basis of another law suit. All the while EEGC was paying Hunt a large daily sum to keep the drill in place at The Bellevue location. Well Smartwin through the efforts of Paul Batista decided to settle with EEGC and decided to keep the terms a secret. They did keep the 32 million shares and resumed their joint venture. By the way it should be noted that the Government of China had to sign off on the settlement.While all this was going on a new partner surfaced we will call the Irish investors. They have been paying for the continual operation of the office in Hobart Tasmania and will be a major financial contributor of the operation going forward. There are more details to many to type in here but you can see many parties are involved and want a share of the oil profits. So to answer your question should you load the boat? I would and did.
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