Despite the AGM coverage, EPG's directors have seemed out of their depth to me. AF forecast production would have started ages ago, but then they went off to consultants and discovered they would have to drill new holes in a particular way, while AF seems to have been spending his time sending me ungreen letters about a green fuel company whose promotion was clearly hideously mismanaged.
Perhaps EPG's plan was to amass a portfolio of licences with huge potential and make a quick turn by being taken over before they had to knuckle down and do anything. But oh dear, the bids didn't come, so EPG will have to do *something* if they are not to look completely silly.
Even so, the impression I get in faraway England (if they have come over here to market themselves to their ex-Heritage shareholders, I missed it) is that they plan in 2008 to drill the odd hole here and there in the portfolio they have put together.
Are they more than quick buck opportunists who have been caught out by lack of acquirers for their portfolio?
I'll stand back for the flak now.
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