As a holder going back to the pre 4.6c (old $) days, I am really gutted at how the company dropped to this level. I know it was a pump to get to the 4.6c, but nonetheless, EGO was able to do that at the time as compared to the ridiculous SP now is a bit beyond believe, especially we now are in T2 of our gas sales.
The initial estimate of $26 mil/yr has now dropped down to just over $20 mil and most of that goes to
running the comapny. WTF?
I had a bit of faith that RGN1 might help, but guess what, it was stuffed up. October? We are not out of the woods yet, with one stuff up, there could well be another. But then that's oil exploration game for you, so they'll tell you, except that there are successful drills much harder than this. (FAR drilled 5 holes in the deep ocean (probably ten times harder to do), off Senegal and they were all successful.
Like many, my avg is up in the 2+ mark. Unless there is a miracle, I can't see me close to recovering to that level.
Has the court case now been put in the too hard basket? I thought that EGO was confident of a win. Don't even get a mention now.
Meanwhile we wait! We are all speculating as to what we are waiting for, except for time passing.
KKW
EGO Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
