Difficult times ahead

Sorry to post again Toppy, but unlike you I do have serious concerns of my investment and EGO future. I think most holders are just as concerned as me. After making several calls unfortunately I am not as confident as you and Wabbs, this is what concerns me and it should concern you as well.

I believe the drilling contractor did a professional job, our management are responsible and unfortunately have blown this critical well and in time we will all realise this. I wont comment in detail of what happened or the mistakes made. DYOR.

Now we will experience the serious consequences from the cost cutting failed well. Even if we are successful in well repairs. This could be even more expensive than I realised especially if we have to recall the drill rig. What this has demonstrated to me and the market is that the current management reputation and EGO has now seriously down graded any prospects for future farmins.

How and why on earth would a farmin spend money in EGO under this management. This failed well has clearly highlighted serious short comings and will forever effect our reputation surely now. Also effects debt repayment and sadly our SP will suffer big time.

EGO will need to raise cash at some point and how will that happen and at what price, 15, 20 or 25c. How can holders seriously and honestly believe we have a bright future all I see is a huge very black cloud over us and changes have to be immediately made. ERM as a big holder I recommend that you take charge of this mess or you will never be able to get out. Sitting and doing nothing isn't a option now.

Clearly our reputation is now seriously questionable. Any farmins would most certainly down graded us and any future prospects for farmin's must be walking away. I believe players will watch us further slide south and then come in to feed on this struggling company. Thanks a lot our board you certainly have unlocked value in y investment. What a great situation we now find ourselves in, huge potential unfortunately now is crashing around us. I can't believe I get attacked for stating the obvious, surely every holder would be concerned as I am.

I believe both the market and our board realise the seriousness of their mistakes and that is why they a desperately trying to bring Lockyer forward around AGM time so they survive, desperate indeed. Make of it as you will.

Well that's my observation for what it is worth, so continue to attack me as you will. One day you will realise and understand what I am saying isn't just a "yarp", I have every right to comment and have you even contemplated that I might be right. What will it take before you realise the fact that we are in a big mess, our SP is going to continue south. Urgent changes have to happen if we are to survive, or even see a profit from our investment.

I sincerely hope ERM and board finally realise and understand the mess, the consequences and please now take some serious ACTION and get with the program.