Ann: Production and Reserves Upgrade Update , page-13

acorn

I agree absolutely. VERY ordinary communication if not deception. Did any of us over the last year while we waited for results eagerly from the BW pilot operating with the shield wells think there was a problem with them coming online other than the weather .. no!! But for 14 months ESG has been seeking approval to use larger pumps ... and didn't mention it to us at all. And its been a YEAR since the Concept Plan was submitted and it still has not seen the light of day. And on the "excuse" of water handling facilities .. they should have known about these requirements well in advance and planned for them .. otherwise it demonstrates incompetence. I reckon the operations managers (whomever they are .. Edgar and others?) should be sacked and there's no way Casey should get the "disputed" shares that he was vested .. he's already been given nearly 8.0m thus far anyway. Why reward massive underperformance? Obviously "some" in the market have been aware of all these other problems with the pilots which partly explains why the share price has gone nowhere in 18 months. But not we shareholders.

Nice to see this update and some good flow rates BUT it only happened because a number of shareholders have been badgering management constantly for an explanation of the slow progress with the pilots and the lack of the "progressive" reserves upgrades that ESG had promised throughout 2010.

H