The more I research this current boards tactics the more concern grows.
Well as many here know CM farmed/sold out the canning basin and as a result lost his job and company he was running.
This current board farmed out/sold the carnarvon basin and we all rejoiced and gave this board exactly what the board asked for, ERM deal, options, free rain.
Well there clearly very busy looking after them selfs as is clear in yesterday ANN with reference to options grabbing AGAIN.
Now that this board has fire sale enough of the empire assets and we have already established that Perth basin assets are made up off what is called "CORE ASSET" being EP389 permit and surrounds. My question to the board and to the forum is.
QUESTION 1:
Does the empire board BY LAW have to release the independent reserve numbers AS PROMISED before any farm out/farm down agreement is signed for EP389 ?
Question 2:
does the empire board have to seek approval from empire share-holders at a General meeting of holders if there intention is too farm down a portion of EP389 (CORE ASSET)well wear we could lose operator status?
QUESTION 3:
Can the board in fact discuss and in some cases release price sensitive information to potential farm in partners for example: updated reserve numbers that have not been released to the market ?
Does that mean that the empire board infact has to date no interest in any farming down of EP389 permits ? As if there was what information would the board discuss with farm in coy's that is not released via the ASX.?
Unless there discussing how each board member takes his tea&coffee.
BOEING777
EGO Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
