The sky always seems to be falling, when you post and suggest that the board is always doing the right thing .
point 1) the market does not like this deal(reference crap share-price)
point 2) if this stupid deal is not changed too benefit all shareholders not just the loan shark/ major shareholder- I am going to suggest it won't Carey on the day.
point 3) the empire board can stop the sweet-heart deal making and start up selling the assets like a professional board would.
For years now Healyn keeps sprooking the Perth basin assets, and just how big it is.
how about the board start listening and find some fairer farm in partners.
as for your silly statement of shareholders being unsatisfied with deal making, that is because shareholders see there hard earned cash which has been spent on over prices plant& equipment from last board .
and a current board that is being overpaid and having a spend-fest with borrowed money all the while, suggesting there is low gas and condensate reserves in place.
1+1 does not make two with this board
example:
6 months ago pre-perferation the board suggested no/low gas reserves however continued to spend Hugh money on the plant for upgrades, and now still more upgrading AGAIN with a LPG plant stripper talk. And now last week we get a upgrade of reserves......so which is is ? A fart down a hole or a working oil and gas kitchen/ field.
example2:
we get a drilling manager months ago and report too market that we WILL be drilling late 2014 first 3months 2015, and yet still NO spud date, no drilling approvals in the pipe line. WHY????????
i am going to pen a new catch line here now:
this board over promises and under- delivers.
unless KPMG can arrive at a better agreement with empire board on behalf of us,shareholders it's a big fat NO from me and a vote down the remuneration package. First strike/ batter up!
boeing777
EGO Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
