Australia's largest stock trading and investment forum Australia's #1 stock forum

EGO

Click for more information

0.00%

12.0¢ empire oil & gas nl

Lets look at a hypothesis for a Farm-in?, page-42

First 42 Last

Share
Profile

Follow
healyn

5,453 Posts.

21

08/06/17

09:09

Post #: 25164546
Share

Originally posted by Kit67 ↑

Healyn. With all due respect to everyone and anyone, I am a bit sick and tired of all Doc's "plans" and all his secret, magical things that "will soon be revealed". He has done himself a great disservice by eluding to such things, and would have been far better off either saying nothing or simply telling us of his magical plans (although I have a feeling that this comment may prompt another 10-paragraph diatribe from him on this subject). That said, some of you seem to be wanting to follow Doc (and good luck to you I say), but Doc's messages are more mixed than Wabbs imo, as Doc was recently telling us of his great plans (which he would not reveal) yet also telling us that he planned to sell-down his shares if he could find a buyer (PS: maybe it is Doc who has been selling down recently - who knows). Wabbs, on the other hand, simply shoots from the hip (please don't take that the wrong way Wabbs) and sometimes hits random targets with unintended consequences.

So the net credibility quotient on this forum for all players is zero. I have read (and re-read) many comments here, and all stories can have holes shot right through the centre of them (stories about discussions with directors, which cannot be proven; stories about averaging down, which do not make mathematical sense; stories about trips to all five corners of the continent, which simply reek of fantasy; and the list goes on, and on, and on....).

What matters - all mythology aside - is "what happens next". By end of Q2 the Management of Empire will have real egg on their face (with a Board who is becoming increasing nervous at a guess) if they don't provide an update to the "extended production testing" of RGN1, an update on water and production at RG, and some sort of timeline regarding farmins. With a Market Cap of only $15 million, players like MIN might soon simply get the s**ts and step-in, take it over (for under $30mm) and sell-off all the bits they don't need (keeping core tenements for future "hedging" purposes). I think this is a highly likely outcome if Management fail to hit the send button on the fax machine by month end.

Core EV is now around $30mm, and even with the RG problems, this is below the projected cashflows from the existing cash-producing business. For a buyer you get potential from RGN and other tenements for free. If you and I are wondering "what next" chances are that some of the bigger shareholders (MIN etc.) are also wondering the same thing.

As I said - "with all due respect". Enough of the fantasies, more of the reality.

Kit.

Expand

"What happens next?" That is the big question that everyone wants to know but those in charge are not willing to divulge.
If anyone wants to see for themselves what this BOD is doing just have a look at this from EGO's website.

http://empireoil.com.au/exploration_2

Barring an avalanche of information from EGO's HQ it appears not a lot has happened, is happening and going on history nothing will happen.
Regarding the farm-in. Appears discussions are still progressing...............................zzzzzzzzzz

Subject to securing a suitable farm in partner, Empire is anticipating the Lockyer Deep-1 prospect could be drilled in the last half of 2016.

Some things to ponder about this.

1. nobody is interested in what EGO has
2. yes interested but do not like EGO's cornerstone investor
3. yes interested but our mob just don't seem to understand the O&G business which leads into No 4.
4. yes they are interested but do not want to play with our mob which leads to No5
5. yes we are interested and want the company but before we agree the contents of 229 Stirling Highway Claremont, 6010 must be fully cleared out.

So which scenario will turn out to be true I wonder

Last edited by healyn: 08/06/17

EGO Price at posting: 15.0¢ Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

CIA

Forest fires see Champion Iron shut down Bloom Lake

Week 28 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Bitcoin investors need to know the risks

ASX Market Open: ASX200 to reach 8000 for first time on hopes for US rate cut

There are more pages in this discussion • 32 more messages in this thread...

First 42 Last

Add EGO (ASX) to my watchlist