enough is enough

As SHERs, we need to ask ourselves when enough is enough.

The debacle of the last few days says it all. There is something grossly wrong with the way the office is being run and the buck stops at the top. on the release of timely disclosure of information which should be correct in the 1st place and the manner it is delivered.

Take yesterday of the meeting date set for the requisitioned meeting and its contents. At 13.33 PM EGO announces the date you read the following including this snip

Points 3 and 4 which were supposed to be included as the one document are missing. These do not arrive until 16.00PM, some 21/2 hrs later. These letters are most important as responses from the directors and ERM to why they should be on the board.

WE now need to ask the question why as one announcement these letters were not attached to the original ann. To me its shabby and misleading and raises doubt as to the nature of it to be one document as its supposed to be.

This does not stop here on this issue. In the letters the preamble before each director it says this.

Mr Joyce does not get the luxury as the other 2 directors and is a separate letter which as the 1st ann says is included among these letters as per point 3 says, IT CAN NOW ONLY BE VIEWED ON THE COMPANY WEBSITE.

Again you need to ask why a special trip to the website is needed to view MR Joyces response. I couldn't be bothered and Im sure many others would think the same way. Mr Joyce is a minority in the board with only accountancy his forte I believe but this does not warrant his playing 2nd fiddle to the other directors as his job is on the line as much as theirs.

Then 2 days previous the saga of the annual report and this is a classic of 2 major blunders that were not picked up by anyone in the entire EGO outfit until SHERs and ERM raised these issues.

You take these 2 events of MR Marshalls new contract term adjusted from 5yrs to 3 yrs (typo ERROR) so they say and Mr Bennets missing renumeration of the days he chaired the 2 meetings. This really needs to be explained and I also ask WHY the Auditor did not pick it up or it was omitted from the records given. PLEASE EXPLAIN, Mr Bennet is a sore point with many SHERs through the litigation he has ongoing and maybe if SHERs saw he was paid to chair/police these meetings would have caused an uproar.

WHY was it that Mr Bennets services were needed to chair these meetings at a time of crisis within the ranks.??? Certainly did the job in his capacity to silence the rank and file and then to have the WHOLE meeting VIDEOED. This is intimidation to the max of SHERs rights, not to be silenced of asking the hard questions and getting answers.

On this point I would like also to add that IF this current board cannot answer the hard questions previously and the current asked questions with NO ANSWERS then you are not entitled to any votes until answered. There are voters swinging on these questions and answers given. Lost votes in my opinion if the board cant defend them with proper answers.

Besides this we see the delay in Dunnart 2 being drilled with the games to prove a point of delays in drilling as Mr Marshall states in his responses. Sorry it can only be interpretated as such and carried out in the form of change of operator to delay drilling as stated. What with the other 2 planned wells, are they in the same boat.???

On the 11th Sept EGO ann on ASX of WHARF writ and I believe it has been to court but as yet we have not had any update regarding these proceedings. ERM were co plaintiffs and now with the EGO dispute, did ERM go and represent or have they pulled out of this writ on WHARF.???? Does anyone know.????

Ive babbled on and I guess you may see my point to this post. The list is endless you can even go back to the landowner dispute to access etc which should never have happened and went to court. It took 2 days later and a press report to tell us that there was a problem and the company had not disclosed this to the SHERS. Communication and updates were very poor then and that was one of the gripes we had back then.

Now its in the same basket where we are getting dribbled parts of anns at a time where it is imperative to have as a WHOLE DOCUMENT not search the countryside for the missing links as in the set meeting date. Really its in 3 parts ending with Mr Joyces response only available on the EGO website.

If this is the way EGO are treating their SHERs with delays again in parts of anns , drilling and as to the ERRORs in the annual report not till next week then its fair enough to say ENOUGH IS ENOUGH and this company lacks the professionalism to stay on board and its time for a change of where we will be treated as equals and VALUED SHERs. There is no respect in board that cannot answer the questions asked and their actions. Timely concise anns keep the SHERs happy.

The annual report ERRORS are a joke.

Financial year ends 30th June

Bennet chairs 2 meets before this, is paid, not recorded in annual report until ERM and SHERs ask the question.

Marshalls renumeration package changed from consultancy to full time with a fixed term of 5 yrs it states and now adjusted to 3 years. Never disclosed to SHERs until released in annual report. Should have been an ann to SHERs. This was done by board meet before June 30th.

Auditor signs off and fails to pick up these mistakes too.

I believe Mr Joyce is the EGO accs person nd has consultancy with EGO. If so why were the Bennets paid salary for these 2 days, not recorded and missed in the renumeration of directors.???

Annual report is released on 30 th Sept and these mistakes as old as they are are not picked up before the release and then a further 2 1/2 weeks down the track they so called pick up the ERRORs after its too late.

Something grossly wrong here and for me ENOUGH is ENOUGH,

Time for a more professional board that will treat us better and deliver more value to the SP.

No wonder past investors stay away on any good news. They have had enough too of the circus at play here.