Ann: Appointment of Executive Director - Mr Ken Aitken, page-3

I feel that the contract stipulations are pretty standard, just not often publicised in this way. It does seem a bit strange that it would be mentioned - 'we've got this great guy, but in case it stuffs up we've got an out'. Not exactly confident language.

My initial reaction is that I'm not terribly excited by this. EGO was a trainwreck that started when they moved to 100% interest in tenements in exchange for a debt facility, all while they had only one real producing well. The debt deal put EGO over the barrel and can only be described as a massive strategic mistake or oversight. Ken's technical record looks good; with years of experience - but for me there is a fat question mark over strategic capability. Perhaps when combined with the conversative nature of the current board it will be a win-win situation.