Ultimately using your reference of $4 million preperforation value as that is what the "D" sands are valued at , but with the very positive ann with reference to how the "B" sands were first interacted with during the perforation process.
If we are going to sell down any holding in the EP389 permit as what some are speculating. I would expect the board to release to shareholders some basic valuation of what is in the "B" sands, as how is one to know what the true market value is from a sentence from the board a few days post perforation.
For example ERM gas as the J/V partner I would expect them too have more data than retail shareholders of projection of "B" sands depletion rate and projection of resources in place.
as a shareholder I feel I would need that information if I am asked to vote on market sensitive/company potential revenue issues. As ep389 is a core asset any sale of this permit in part or in whole I understand would need shareholder approval.
In saying all that I would prefer too here drilling news in the black arrow and charger permits as this would be more to my liking as empire improves assets from internal growth, not selling assets.
and as Harry said if it is a takeover or the like let's get the right valuation for assets like seismic that has been completed and true value of the 2 discovery wells take the money and move on from this dark time in many shareholder lives.
boeing777
EGO Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
