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ERM wants us, page-3

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wabbit

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20/09/14

08:09

Post #: 14003473
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Originally posted by boeing777 ↑

Let's start to get a few things straight shareholders .

ERM did not come to us ye empire shareholders to help us from the big bad wolf called CM. Too think that is just plain dumb, this is business not rumper-room.

ERM at the very least sat the first 249d out or pledged there votes for CM not MR ED!

now ERM has had a large say on positions taken on empire board, or at the very least a former ERM board member has picked the new Blood, and that new board is spending money like sailers in Manila bay.
we are now, if you like given the ultimatum that we have to except the deal which favours ERM coy for a possible farm out process to begin again or risk losing permits we may have spent money on in the last 15-20 years.
Well I reject this out of hand as if this board is worth all the money we are spending on it there will be a 2nd option.
What is that one might say.
how about we approach a few more oil and gas EXPLORERS and get some farm in on tenement we hold over 50% on . and farm them down to company's that have the moxy
to drill a hole.at least in a farm down we get something as a-posed to giving back permit

i have lost all trust in ERM/ego sharing business as ERM take the cake and leave us with the crumbs.
If ERM don't want extra risk and right now the empire board are saying risk is good but ERM are saying we are uncomfortable with the permits risks.
Who has the larger market cap ? Who can afford to drill a dry hole or two,ERM can, not bleeding empire oil. The empire board is exposing this company to Hugh risk by taking on more percentages of permits but as yet we don't have the money to fund any drilling, it's like the empire board have put the trailer before the horse and said pull far-lap. If this deal gets up, ERM gets there increases holding, expect a big capital raise again to pay for drilling and also I would not be shocked if we farm down any new drilling to ERM coy.

Lets release the "B" sand reserves first see how many years life is there and than take a vote.
as sarandy said ERM settled on a the JV years ago now there wanting to delay longer and don't want risk, fine ERM should sell there holding for whatever a coy wants to pay . Empire should not be buying more permits with debit when as the board love to point out we don't have enough now.
vote no to this deal and as I suspect if the wolf wants lamb for dinner then let them pay for it. As too say
if ERM wants 10% more of empire oil PAY FOR IT ON MARKET as CM pointed out ERM got a lot of shares in capital raising. ERM are the worst offenders here when it comes for wanting something for nothing.

goodnight all
boeing777

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Boeing
You need to tell the truth to be believed you said ERM sat out or pledge there share to EGO.
I do not know how you know that the AGM for Eddie was on the 28-11-2012 and ERM did not put in a substantial holders notice in until 22-8-2013 Sunset Power had a holding of .39% at the time of the AGM less that half a % and you would not know if they voted or not.

EGO Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
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