Sash. Exactly. That’s why we have to liquidate as quickly as possible get our losses and regretfully move on.
The shell is worthless to us particularly when MIN involved. MIN have already killed our investment. MIN will certainly vote for this shell. We must stop them but unlikely unless another bidder comes in. Plus most holders have gone away and don’t care. We have no chance now to vote against it imo. I still have to completely read full document yet.
This Unfair process from the start is very questionable IMO from all parties concerned which ultimately contributed in our demise. Surely answers and accountability have to be pursued. This whole process is a farce and stinks to me.
Min had creditors and administrators sowed up in super quick time. We had no chance as board went silent and appeared into hibernation not a sound from them. Where were they? Why didn’t they fight? Absolutely pathetic actions by them imo.
Seriously were any of us surprised they would fail us at some stage. We all constantly talked that MIN were predators and our team were not up to managing EGO. But liquidated us that’s a whole new benchmark of companies failing on ASX when earning great income. I can’t imagine companies would actually employ them. But they will cycle continues.
Our company was gone in a very unacceptable timely fashion. Before we could even have a chance to raise funds to fix the well it was all taken from us and gone.
I had a detailed plan with options all worked out to present to Admin, they told me it’s gone that morning when I had planned to present to them. Unacceptably quick process. Ask yourself why?? Obvious to me! Just like shell offer. Bloody parasites stop at nothing to destroy the mums and dad holders.
Min would have enjoyed the board of ego as they bumbled along totally oblivious of mins game plan and played into their hands unwillingly, so reckless and stupid in my opinion.
A billion $ coy predator just supports and sits watching a total basket case prey EGO mess up time and time again imo. Yeah right they supported them, really. Lol obviously NOT Just patiently waiting for AWE drilling results our drilling saga to unfold then struck. Administration. Game over.
The unbelievable financial management process and decisions made were totally mismanaged big time in my opinion over the past few years. Many examples. ERM debt, Min debt loan debt, drilling cost blow outs etc anyway here’s my take on some of the communications our lot might have said whilst the last few days/weeks/months unfolded were very difficult for our wonderful team to make the right decisions & sent us broke
A Satire as a furious investor IMO of the
“SAD ASS Story of EGO’s Demise “
(proudly bought to you by Disasterous Events and Decisions Productions proudly supported byReckless Spendin No Cash Flow Productions.) .
Such as “yeah go ahead and spend money continuously reworking on this failed RGN well as we believe something has to be there, look at this graph something is there, can’t see anything, look, where’s the bloody concrete gone, scratch heads again. Sheet get more money”
Ok but do we have the skills to get the graph result to the surface “ yeah course we do we have CEO he’s excited plus huge huge huge costly team of expert consultants and contractors to hold our hands if needed”
meanwhile our RG producing well is filling with water and flow rates falling away rapidly what do we do now. “get new CEO now and get more contractor/consultants advice at the rush plus we have to urgently have another meeting, remember AGM coming up-bonus time again”
how will we fund all this “we will be fine plenty of time we know all about financial stuff and interest free periods and plus there is so much excitement around EGO”.
Seriously we are at a real risk of defaulting our debt. “We have a 5 yr plan it’s all good and Min support and love us, come to GOC, got a premium stand, yippee”
Oh sheet we have no wells now, no income, what do we do. “ how much money have we got in bank” hold on. “Sheet none and min have put us in administration, sheet, sheet, sheet”
What are we to do now “sheet get legal advice call everyone back from GOC don’t say anything. Sheet lucky min acted before we gave our talk”
Where is our new CEO gone “ had better offer with Min” what “ yeah as we are broke and basically stuffed now he decided to move on and join a true number 1 player in Perth basin become reality in a 1 yr plan after they get AWE and us”
What about us. “Lol we never had a chance to become number 1 Perth basin player because Looking in our 5 year plan, doesn’t have we are broke or in administration cards of what to do on it. So I have no idea of what to do. Do you?”
Now what” don’t care don’t have a job suggest you all go on holidays everyone might get some creditors payments ok, move onto your other coy dirs positions. Unfortunately you two who drew shortest straws must stay behind as administrators have got control and Min want fast transaction so help them. Quicker you do this the quicker you can go ok. Good luck”
What about holders. “Mmmm oh just someone say sorry to someone as they walk out the door and turn lights off.”
My fictions take of humour considering I lost huge sum of money. Anyone who takes offence try living in us holders shoes before having a whinge. EGO was a truly potential stock with huge opportunities mismanaged beyond belief $1.50 to ZERO.
Can’t believe with all the income coming in, unlimited resources around them and the serious money they were earning how on earth can this happen when we had such great tenements which other companies seriously would want in time. Our team couldn’t even get a farmin. What a joke they have all become in my eyes. Absolutely useless IMO.
Add to My Watchlist
What is My Watchlist?