EEGC education time that is omitted from thought before posting. First the company is alive and well and kicking like hell. They have been exploring for well over 20 years and have documented most of Tasmania and were in the process of doing off shore exploration when hard times made them pull back. There were a number of setback along the way, one of which was SmartWinn breaking an agreement and leaving GSLM and Hunt high and dry. In the same time frame was the financial collapse of the world economy making it impossible to raise money, especially for a company with no track record. The financial supporters pulled out due to them have hard times or one even died. Guess what with all these problems the company forged ahead. Leases were pulled back due to lack of funding and the little money the company had was used up supporting such things as the telephone, lights and rent. As things turn around for the economy so have the prospects for the company and that also means the shareholders. New partners/joint ventures were formed and a private company ,TOG, (Tasmania Oil & Gas) set up to drill for oil and Gas. In addition several law suits came into play, one with SmartWinn and the other involving the windup of GSLM. There is a scheduled April 22nd to hear about leases granted by MRT that is yet to be decided. Prior to the law suit a lease was extended and the Minister refused to grant it. That too will be decided but until it is the lease is in force. Times are much better now with found money, equipment and manpower. TOG employed a very sharp oil executive and we are now preparing to drill. I have left out much of the details because I would be typing all day but all of the difficult conditions seem to have been removed. So if you are a shareholder, be patient and you will be seeing results in the weeks ahead. Notice I said weeks, not months or years. If your not a shareholder maybe you should consider being one. Good luck to all.
EEGC education time that is omitted from thought before
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