Good Oil Conference, page-54

I agree ahjay. We don't need another media circus. However our board have to recognise what is best for all SH'S and the company going forward. So expect that some on our board to accept the idea to depart as they have given their best shot and clearly hasn't worked. The whole management focus hasn't worked. SP all time lows and plan going forward is set back after set back. Every SH expects better and it is clear to me and everyone outside EGO that it is now change is what's the best outcome. All management in industry has KPI's. So why should EGO be any different. We need to have independence and total removal from ERM now. We need some minor changes which would be 3 positions. We urgently need a top class manager. I know the team which I will endorse to replace. Hopefully it is made public sooner than later. My only concern is that the existing 3 kick up a fuss and will not go peacefully but if this happens then one has to do what is right which sadly could be a bit messy. I sincerely hope not. So my message to the board as they know the 3 changes which have to happen and I think most holders would support the 3 replacements. All will be known soon enough. Over the next 2 weeks as AGM not far away. 3 yrs is way too long for excuses and underperformance. We just focused in wrong places and lost our way. Consequently every hold has been effected. When I spoke to brokers and other MD's they basically said 3 yrs of missed opportunities and EGO can do much better. DBP was expecting a lot more from Ego up to this point I was told a couple of yrs back expected 70TJ and full of excitement. So was I and so would most of you. I guess sadly with months working on Origin, debt and well failure everyone has paid the price. Time to get focused again. Why Lockyer isn't already in the DMP process by now just shows the lack of confidence and focus. Ego isn't a lifestyle it is and can be a mid tier explorer with great reserves. Anyway what will be will be. Hang in there and support the idea of change is my opinion. We all deserve a lot better. Remember all play nice as I intend to.