Against the much spruked background of "Being the operator of...

Against the much spruked background of "Being the operator of choice in the Perth Basin" I think the 1/4ly does nothing to repair a gaping hole in the vacant space (lack of credibility) this company is delusional about. Whereas, the new CEO comes with financial credentials, and the 1/4ly leverages that in the bigger than usual coverage on financial matters, the operational parts of the report we would normally to receive information about are noticably brief or obscure, even non-existant.

The outcomes during the reporting period are obviously of little note, so the report aims more at what are the intended works for the future. Mostly not likely to occur any time in the next reporting period, strang no mention of RGN1.

Continued no mention of any developments in the Farm-in space leaves me mystified, along with why no mention was made of any progress at all at RGN1. Even if it was to confirm that the pressure test program is underway.

I now believe there is reason to contemplate that the Company has abandoned its intended focus on being the operator of choice, and It would not be surprising if the next focus on Farm-in engagements will require the Farminee to take the reigns as operator. Our CEO does not appear to have the expeience and/or credentials to lead and drive an Oil and Gas Exploration Company in the important areas it needs to pursue. Exploring for and drilling for Oil and Gas. Raising investment/venture capital is a very important and essential part of the business, but in this business there is no room for amatures when you are looking for a return for your shareholders, through actually finding and monetising hydrocarbons.

I would argue following the example shown of their collective expertise at RGN1 hitherto (one well which is not yet completed in 4 years) suggests the Board is unable to bring important projects to completion, on time or on budget.

Certainly I now very much doubt that any aspiring farminee would be so myopic as to believe the EGO B&M is capable or competent enough to deliver on any future drilling venture.

We have all been dragged through a very underwhelming demonstration of how a highly prospective Oil and Gas Exploration company in the box seat, can be brought to it's metaphorical knees by a vey poor administration.

It will be a tragedy for a great number of people if something significant does not occur before the AGM to find and engage the key personnel we need to convert the prospects of our company to a better level of reality.