EGO 0.00% 12.0¢ empire oil & gas nl

I'm okay Ahjay. Just annoyed at not being able to get a straight...

  1. 11,241 Posts.
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    I'm okay Ahjay. Just annoyed at not being able to get a straight answer out of EGO.

    I agree that there are some that won't read, or understand, things fully.

    I think this vote is different from last time given that it is our JV partner that is taking the action rather than some complete unknown.

    There will still be some that won't understand, but a lot of those are part of the many shares that don't get voted. 3 billion shares out of 5.5 billion last year were not included in the vote as they didn't understand or were apathetic to the outcome.

    I cannot see any new argument so far from EGO that will have the chance to swing votes their way. They used the opportunistic slant last time. The rest of their argument this time is couched in maybe's and likely's.

    ERM on the other hand are not as vague with the ramifications of a vote for them. ERM has in it's favour the perception of cost overruns, project delays, a stagnant share price, directors suing shareholders then getting the shareholders to pay for the privilege of being sued, etc.

    Keep in mind last time Eddie Smith got 794k votes in his favour and 1,783k votes against. ERM themselves hold about 600k votes, then I think it's fair to add the 794k votes from last time. There is at least 1,400k votes in favour. If some or most of ERM's shares come from those that voted against last time then they would scrape through on that alone.

    From what I've heard there are plenty that would support ERM, that didn't support, or were wary of supporting, Eddie Smith so I think the final numbers for ERM would be much higher than 1,400k votes. Even Brooke has expressed her view that she wouldn't be at EGO after the vote. Says a lot about the confidence of their side.

    Remember EGO know the numbers that voted for CM & Co last time around, everyone else is in the dark as EGO refused to reveal the numbers. So it could be that whilst support for Eddie & Co were low, the support for CM & Co could have been even lower!

    I still find it interesting that we are still in the dark on Dr Bevan Warris. He has not featured in either side's arguments as yet. If he is in support of ERM's move then I feel it is safe to say that it is all over red rover and ERM have it in the bag.
 
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