The time is now to stand up

With all due respect to ALL holders, we all have to now deal with the situation we find ourselves in. Another AGM looming and if we do nothing and just except, then where will we all be. After the last 3 years we were promised an aggressive drilling program, work towards being a dominant Perth Basin player which would significantly deliver value and unlocking SH value was a priority and that was the main message working towards a industry mid tier player. Truth we are far from it! Most holders believed in the message and numerous statements year after year, sadly it simply hasn't happened. Our position is actually far worse than what any of us could imagine 3 years down the track. Do not be fooled at this point of time Min are not the white knights you all hope they are, they want cheap gas and that's that. At the moment imo they would not go against our current board, or take a board seat - ask yourselves why! I hope to speak with them soon to get my questions answered and find out their true position, well best I can in any case. But for the minute I will reserve my judgement to what I believe until proven otherwise.

I could go into every detail of the many problems but no need to reopen wounds and put myself in any position to get moderated again or even worse attract the attention of the big legal guys again. I am only focused forward and my investment. No need to re-hash the past as the board will struggle to sell any positive messages from the past, which suits me fine. We all know some of the problems and some know the majority of problems EGO have encountered during the past 3 years. All I know and to be perfectly frank, our team have let both us and themselves down for numerous reasons and obviously the repeated oil price etc. The days of just accepting, wishing and hoping are over from where I see it. Everyone has to stand up and VOTE! Over the next couple of weeks a detailed plan of what is going to happen will surface and I expect all holders to support and effectively bring about change. It will not be easy but in shear numbers we have a great story to tell, sadly unlike our team who has not one positive thing to communicate to the media then alone to any holder. Especially if they have wholely focused on Origin and blown that the costs of both Verburnum and Origin is well over a $1M which we got no result for. Every single holder is losing money and the SP graph is sole destroying. Our team will struggle to sell a positive message, not big holders or hold at all, but they do have at least 35-40% who will support them today (that can change) so that leaves us all 60-65% and those numbers would get up but in the real world sadly 25-35% of that will not vote if we remain silent. But all is not lost as working behind closed doors, change can happen which will hopefully secure greater numbers for us holders, I am confident of that.

As most of you know I have had meetings with our board a couple of times during the last AGM and it was very clear to me they had no interest in acting on not one single item I bought up, yes it was great they took the time out of their very busy schedual to listen which I appreciated, but listening is one thing action is another. A few simple things done during the last 12 months could have put us in a better position now then we find ourselves in. Our team is not the right structure from where I see it, but they really don't believe that, many in the industry I have personally spoken to think otherwise. But let me tell you this, they will not volunteer to leave and will fight to hold onto their positions. Just have a look of some on our team and see their past performances and what boards they are no longer apart of these days and why. Unfortunately without every holder standing up and having a voice and importantly actually vote at this AGM then nothing will ever change. I get hundreds of emails and calls a week asking me what is going on, is my investment doomed, why isn't our team producing the results we are all promised, what is Min really here for, why hasn't Min taken a board seat, what really happened to our low risk well, why didn't they do Lockyer first and secure a great reserves portfolio, where has our money gone, why are we broke, the endless list of questions never stops. Last AGM holders had to step up and be countered, many didn't vote. I never campaigned either, only 45 holders I spoke to as I had family matters to deal with. I will compaign for change this year that's for sure. I am really annoyed looking at my investment and enough is enough.

My message to you all do nothing and not vote then why should any holder actually risk their livelihood, sanity and finances by continuing the fight for EGO future and success. Ask yourselves personally what can any of you actually do to bring about accountability and change. Make no mistake I am very passionate about my investment as I know many of you are. I just ask you all it's time now to unite and band together and force some minor changes. Do this and the real voice will be heard as ATM no one will speak out as everyone wants to remain silent and just hope for change to happen. I strongly believe we can have a very professional, motivated board who will get results. So holders my suggestion is to band together, look outside the box and send a strong message for change. I will do everything in my power to implement changes so our investment can grow and be successful. I will keep you all posted on the way forward after I have had some meetings ok. Plus if I really want to get involved again, show a strong support for change and like.