EGO 0.00% 12.0¢ empire oil & gas nl

Investing advice for EGO, page-40

  1. 517 Posts.
    This company has majorly underperformed for all it's holders. It's not the fault of one board member, they are all responsible, even ERM were at fault. They have disappointed the majority of holders and where I see it we have nothing to celebrate at this stage or even for the rest of the year. Imagine if this well isn't successfully repaired. How south will we go.

    MIN has to URGENTLY step in and run this company as they run theirs if we have any chance to recover from our SP being smashed under the helm of this board. I would suggest MIN need to urgently replace 2 (3 would be better) board seats immediately. We do not want to see our board increase by 2. I can see this happening as it is clear they will protect every board member.

    Regarding T/O from MIN I don't see this happening in the short term and to be honest don't even want to contemplate this as the SP offer would be very low. We need other players to be interested in a bidding war, again unlikely in the short term. Nothing will happen until the Origin situation comes to light. It's our only hope.

    Anyway this company has badly performed and almost all holders will never see a profit from where I see it. The market and most holders confidence in this stock is almost gone and I see nothing going to change this perception in the short to medium term if this board remains especially after the 3 years of performance so far.

    Nothing to celebrate about being a holder of EGO. For me sadly if our current team remains into next year then it's about breaking even and moving on as quickly as possible. What is clear to me is the longer they stay the further south our SP is going to be. Why do we all have to put up with such contempt and underperformance. Who actually works and pays for who here. Their remuneration has to be aligned to performance. Why do we all have to suffer.
 
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Currently unlisted public company.

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