I am finding it difficult to keep track of important info uploaded over various threads, hence summarised most of them here. I will try to be as unbiased as I can possibly be by stating FACTS. Anyone and everyone, please feel free to fact check any of the points you want to challenge, happy to be corrected. For some points I can't see much relevance to the current situation, but will still include here for dissection as some people believe it is important.
FACTS:
- EMP was previously known as OBL, went through a name change
- OBL has experienced court cases in the past
- Judith has been significantly progressed in the past 2 years by Carl/Nigel/Phillip ("add value" to EMP, Post #: 36870391)
- Judith is all primed and ready for a JV/sale (Post #: 36583473)
- Judith is 1.5 km away from ExxonMobil's Kipper (Post #: 36145347)
- Plenty of infrastructure already in place in the Gippsland Basin (https://www.exxonmobil.com.au/en-au/community/local-outreach/esso-community-news/new-gas-fields-kicking-goals?parentId=5d196572-0a60-4ffe-ac31-77069061f657) (https://www.exxonmobil.com.au/en-au/community/local-outreach/esso-community-news/back-in-the-hunt-for-gippsland-gas?parentId=5d196572-0a60-4ffe-ac31-77069061f657)
- Severe gas shortage expected on the east coast for the next 20 years (https://www.copyright link/news/special-reports/afr-focus-energy/no-easy-solution-for-gas-crisis-set-to-grip-east-coast-for-next-20-years-20181004-h168bs)
- Carl has been approached by 3 companies already regarding Judith (hard to verify, but everything else Carl told me has been true so far, Post #: 36883019)
- SP/MC is very cheap and minimum downside risk (trading between 0.2 - 0.4 cents for over a year)
- Current hostile situation with management where Vaz + 3 have hijacked the board (Carl still a director) (Post #: 36938770)
- Overwhelming majority shareholder support for Carl (Post #: 36934049)
- Carl called for a meeting to expel Vaz and Justyn, but was subsequently cancelled by Shaw and Arian (newly appointed directors by Vaz) (Post #: 36938007)
- The Corporations Act 2001 gives power to shareholders to makes changes to the board and call meetings through sections 249D, 249E, 249F, 249G (https://www.legislation.gov.au/Details/C2013C00605) = majority shareholder vote determines the outcome
- Minimal cash in bank for EMP (some opinions: Post #: 36947404, Post #: 37026137)
I think this summarises the current situation for EMP; might help investors with their research (please like or share the post to spread the good news if you agree with the facts above). Once the leadership is cleaned up, a big hurdle is removed for clear skies ahead.
*Bonus: recent communications with Carl (Post #: 36883019, Post #: 36975357, Post #: 36939613, Post #: 36934049)
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Mkt cap ! $9.055M |
Open | High | Low | Value | Volume |
2.0¢ | 2.0¢ | 2.0¢ | $10.21K | 510.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 1585000 | 1.9¢ |
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Price($) | Vol. | No. |
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2.0¢ | 646981 | 2 |
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3 | 1585000 | 0.019 |
5 | 3077621 | 0.018 |
3 | 3352941 | 0.017 |
3 | 1242500 | 0.016 |
3 | 1707771 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.020 | 646981 | 2 |
0.021 | 29271 | 1 |
0.022 | 427991 | 1 |
0.023 | 500000 | 1 |
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