THIS IS HOW YOU SELL YOUR SOUL.
Just remember nothing is free.
Heres a guide on how to keep the share price down.
Few example of how to get someone by the balls.
Soon we will be selling gas to shell services station, whats wrong with that, yer in the corner over there, what where the BBQ gas is, I'm sorry son thats what happens when you say your going to have an aggressive exploration program, 2 wells in 3 years and then maybe 3 in a year, and its only 4km from the hub, what happen did they trip over it.
I think I'm talking to myself, yep I'm talking to myself and we all know what that means.
15TJ, yer and double that 30TJ, like KQ suggested, this is what our next JV can help fund, I'll even put my hands in my pocket.
The purchase is funded via an interest free loan
from ERM repayable at the earliest of the disposal
of the Red Gully Processing Facility, 31 August 2016
or if Empire elects to provide notice to repay. Whilst
the loan is outstanding, ERM may receive a top-up
payment on the purchase price based on gains in
Empire’s share price. Under this mechanism, the
purchase price ultimately paid will escalate by 70%
of the percentage increase in Empire’s share price.
The increase in Empire’s share price is measured
as the average 30-day VWAP ending either on the
day of repayment notice being given or on the loan
expiry date of 31 August 2016, and measured from a
base share price of 0.8 cents per share. The top-up
mechanism ceases on repayment of the loan. The
Group may choose to repay the loan prior to the
expiry date of 31 August 2016 by providing 120 days’
notice to ERM. As at the date of this report the loan
balance owing is $14,920,611.
The Parent Entity, Empire Oil Company (WA) Ltd
(wholly-owned subsidiary) and ERM have executed
a general security deed as security for the loan.
Pursuant to the general security deed, Empire has
granted security to ERM over all of Empire’s and
Empire Oil Company (WA) Ltd’s present and after
acquired property. The security will rank behind any
security granted by Empire or Empire Oil Company
(WA) Ltd in favour of Alcoa of Australia Limited over
certain assets, but will otherwise be first ranking.