Hey joe , What evidence is there that ERM wants EGO ?
With Only a small share in the Joint venture Erm had little hope of taking over being the operator of
Ep 389 and when Eddie made his tilt at the board Erm moved to secure the board and oust CM.
If they hadn't done so they would have been starved out like wharf and had no control as to costs.
As for ERM selling off all their gas investments including MEL !
There was no hope of extracting gas without huge water production in those regions just the same as dalby and farmers weren't going to see extracted water diluted 10% and pumped down the creeks as was the process that CSG companys thought would be accepted practice, it was madness to think farmers would ok this, nsw will bring it in from Roma qld first .
Look at the way they sold out of mel , one day they are there and gone the next ,
So if Erm had any doubt about the value of Empire they would have hit the exits long ago!
They aren't going anywhere !
The Perth basin is going to be to valuable
Over the next 20 years of WA growth
Driller
EGO Price at posting:
31.0¢ Sentiment: None Disclosure: Held
