249d - ig - plan discussion, page-3

Our Future Plan.

I have 15 year corporate lending career behind me. Have to say that's one of the weakest business plans I've ever seen. The IG has had how long to develop and publish a plan?

What comes out is a 10 point statement which pretty much reflects what the current board are already doing, except point 8 which they have acknowledged.

When the IG first started I initially thought the goal was to get management to be more transparent, improve communications and stay focused on production.

When IG announced they were wanting to replace the Franks, came as a surprise to me, I wonder if others felt the same?


Anyway..

Point 1 is just comical, 500k against current loses in the millions. That's all the IG has been able to identify to cut costs?

Point 2 I thought those two first vert ended up being nothing more than test wells? If they were worth getting into prod sooner surely that would of been done.

Point 3 Doesn't outline at all how IG is going to raise funds. And then wonders off talking about SRH5 and how the IG will get it into prod sooner.

Point 4 Again no detail just states how they can do better because Mr Burt spent 4 years with Lockheed Martin.

Points 5,6,7,8,9,10 seem to be just there to make up the numbers to 10 none of them have any details of HOW they will achieve those points.

And the last sentence. "We have opened up our plan to criticism and challenge the current board members to provide their plan with even further detail than our own given they currently are the `experienced directors`"

But your plan is the same isn't it? You still haven't provided anything beyond SRH5 or detailed how you will do anything differently other than cut admin costs by 500k.

I've been trading for 20 years, and full time for the last 7 years US,TSX & ASX markets. In that time can't say I've ever seen a 249D notice and challenge to a companies board like this one.

Good luck to holders, sincerely hope something does happen that gets this SP back up over 2c but I can't see the IG being the white knight you are hoping for.

Published statements like this makes the IG look short on depth, knowledge and certainly a detailed plan imho.



Kat..