Printer Friendly
The Free Library
5,677,343 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Announcement from Empire Energy Corporation International ("Empire" or the "Company") and Its Subsidiaries, Associates and Investments (the "Group").


LENEXA Le·nex·a  

A city of eastern Kansas, a suburb of Kansas City. Population: 41,200.
, Kan. -- Empire Energy Corporation International (Empire) (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:EEGC) announces that our Registration Statement Form SB-2, which was filed on the 18th of September 2006, was declared effective by the Securities and Exchange Commission on the 29th of September 2006. The document, which took six months to prepare, details the current position of the businesses and investments of Empire. During the period while awaiting the approval, Empire has been embargoed Embargoed is a UK based human rights organisation campaigning to bring an immediate and unconditional end to all embargoes against the people of Northern Cyprus. Embargoed does not proscribe any political remedy, but considers the embargoes on the people of Northern Cyprus to be  from making any announcements. Copies of the filings can be found on Edgar or the Company's website whose address is given below.

The Group has now established a new base from which to move forward. Initiatives are underway to provide additional working capital to the Company whilst its subsidiaries secure the finance for their own capital investment programmes.

Zeehan Zinc Ltd, in which the Company has an 11 per cent interest currently, owns significant zinc and lead ore Noun 1. lead ore - ore containing lead
ore - a mineral that contains metal that is valuable enough to be mined

massicot, massicotite - the mineral form of lead monoxide; in the form of yellow powder it is used as a pigment
 mining concessions in Tasmania. Advised by Libertas Capital Corporate Finance Limited, good progress is being made toward a listing on the AIM market in the UK before the end of 2006. Pursuant to the listing, the company intends to raise up to AUD AUD

In currencies, this is the abbreviation for the Australian Dollar.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
$18 million to provide the investment and working capital necessary to bring the mine into full scale commercial production by the second half of 2007. World prices for these metals are at or close to record highs and with a newly appointed professional management team in place, Zeehan Zinc is well placed to make a successful debut on the AIM market.

Separate financing for Empire's wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 Great South Land Minerals, Ltd, which has a 15,000 sq km exploration license for oil and gas in Tasmania, will be organised in the next few months to fund the drilling of several exploration wells. The company has recently shot 150 kilometres of new seismic and, after processing, the results appear highly promising. As a result, RPS rps
abbr.
revolutions per second
 Energy of Perth, Australia Perth may refer to:
  • Perth, Western Australia, the capital of the Australian state of Western Australia
  • City of Perth, a Local Government Area in and around the central business district of Perth
 has been appointed to prepare a Competent Persons report on the prospects of the acreage as a prelude prelude (prā`ld), musical composition of no universal style, usually for the keyboard. It was originally used to precede a ceremony and later a second, often larger piece.  to the funding-raising activity.

Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region.  Foods, Ltd, a 48 percent associate of Empire, operates two canning factories in China. The company's leased farms had a good harvest and it now has a positive cash flow. The strategy is to acquire or lease further canning factories and farms under a plan for sustained organic growth. A separate listing in 2007 on an appropriate stock market is being actively considered.

Empire's interest in its Nano Key Ball Mill technology is planned to be developed through an association with a major industrial group who will be invited to assist with the development, manufacture and marketing of commercially viable products. A further announcement on the progress of the continuing discussions will be made in due course.

Empire is also addressing the resolution of a number of corporate finance issues with the objective of strengthening the balance sheet and eliminating as much as possible the current intra-group and connected persons indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421.
     2.
. Discussions are underway with relevant parties to agree terms for resolving these liabilities. When successfully accomplished this will be an important step in rationalising Empire's financial position and preparing the way for a new round of working capital funding.

For and on Behalf of the Board

Malcolm Bendall President

Empire is traded on the OTCBB market in the USA under the symbol EEGC.OB.

Further information on Empire can be found at www.empireenergy.com.

Further information on Zeehan Zinc can be found at www.zeehanzinc.com.

This press release contains forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Empire's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 2, 2006
Words:716
Previous Article:Investment Technology Group Reports Third Quarter 2006 EPS of $0.49.
Next Article:Law Enforcement Rhino RTV Unveiled at SEMA.
Topics:



Related Articles
Empire State Building sold: what's next? (new ownership group includes Donald Trump)
Westcoast and Coastal Increase Ownership Stakes in Empire Pipeline.
Ground broken for Brooklyn's Renaissance Plaza. (31-storey office building in New York City's Brooklyn District)
Demand for warehouses sparks development flurry. (Los Angeles, California)(Real Estate Quarterly)
Brooklyn gets first park in 135 years.
Empire Energy Appoints Keith W. Laing to Board of Directors.
Empire Energy Announces the Nano-Key Ball Mill.
Empire Energy Continues Acquisition of Basic & Primary Industry Resource Assets.
Empire Energy Engages International Security Expert.
Empire Energy Announces Completion of Significant Financing.

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles