5 Year Mission Statement “To be the operator of choice.”
To me this meant having a source of supply close to the end users albeit, at present, it is 8tj per day consumed by one end user. It has now been beaten to the punch by AWE(see what you can do with a much larger capital base).
The first phase of the plan was to establish less risk in the Gin Gin Field (don't rely on the B Sands only). The second phase was to drill the riskier Northern Permits (elephant county). It is common practice with small companies to invite farmees in to ameliorate the risk. Unfortunately, the board has underestimated the downturn in the industry and the shareholders are now paying for it.
EGO Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
