I am finding it difficult to keep track of important info uploaded over various threads, hence summarised most of them here. I will try to be as unbiased as I can possibly be by stating FACTS. Anyone and everyone, please feel free to fact check any of the points you want to challenge, happy to be corrected. For some points I can't see much relevance to the current situation, but will still include here for dissection as some people believe it is important.
FACTS:
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EMP was previously known as OBL, went through a name change
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OBL has experienced court cases in the past
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Judith has been significantly progressed in the past 2 years by Carl/Nigel/Phillip ("add value" to EMP,
Post #:
36870391
)
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Judith is all primed and ready for a JV/sale (
Post #:
36583473
)
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Judith is 1.5 km away from ExxonMobil's Kipper (
Post #:
36145347
)
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Plenty of infrastructure already in place in the Gippsland Basin (
https://www.exxonmobil.com.au/en-au...parentId=5d196572-0a60-4ffe-ac31-77069061f657) (
https://www.exxonmobil.com.au/en-au...parentId=5d196572-0a60-4ffe-ac31-77069061f657)
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Severe gas shortage expected on the east coast for the next 20 years (
https://www.copyright link/news/special-reports/afr-focus-energy/no-easy-solution-for-gas-crisis-set-to-grip-east-coast-for-next-20-years-20181004-h168bs
)
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Carl has been approached by 3 companies already regarding Judith (hard to verify, but everything else Carl told me has been true so far,
Post #:
36883019
)
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SP/MC is very cheap and minimum downside risk (trading between 0.2 - 0.4 cents for over a year)
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Current hostile situation with management where Vaz + 3 have hijacked the board (Carl still a director) (
Post #:
36938770
)
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Overwhelming majority shareholder support for Carl (
Post #:
36934049
)
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Carl called for a meeting to expel Vaz and Justyn, but was subsequently cancelled by Shaw and Arian (newly appointed directors by Vaz) (
Post #:
36938007
)
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The Corporations Act 2001 gives power to shareholders to makes changes to the board and call meetings through sections 249D, 249E, 249F, 249G (
https://www.legislation.gov.au/Details/C2013C00605) = majority shareholder vote determines the outcome
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Minimal cash in bank for EMP (some opinions:
Post #:
36947404
,
Post #:
37026137
)
I think this summarises the current situation for EMP; might help investors with their research (please like or share the post to spread the good news if you agree with the facts above). Once the leadership is cleaned up, a big hurdle is removed for clear skies ahead.
*Bonus: recent communications with Carl (
Post #:
36883019
,
Post #:
36975357
,
Post #:
36939613
,
Post #:
36934049
)
(20min delay)