Alex explained at the AGM we are in negotiations with NT govt to sell gas from our pilot drilling. Rather than take any deal at any price they want to ensure it fits with future increases in production as more comes online. Generally positive meeting. An independent debt finance negotiater is also looking beyond existing MQG line of credit to ensure we raise any neede funds at the keenest rates. Alex also replied to my question about the failure to include a SPP in the 16c raise with much detail. Turns out the US bank managing the cap raise backed out 24hrs before the close of a deal, so to get the 40+ million across the line they had to proceed quickly without a SPP. He acknowledged many long term holders have a right to be pissed off.
EEG Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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