I agree somewhat to your comment of "turning the corner". A lot are sitting in the backdrops awaiting and awaiting for things to unravel and +ive signs to appear.
Ego is on the right track with this new boards guidance but the past is still haunting many who are on the sidelines. A lot of damage has been done and with the slow repairs underway, what is unfolding and tedious by all means is too slow for new investors to come on board but they are still watching.
The decision to perforate the B sands is spot on and many of the fencesitters are eager to see what eventuates with the flowrates here. At 58M width and spruiked to be on a par in Hydrocarbon present it is anticipated that this zone would be the equal if not better than the D sands and will severely impact the life of the well. Todays ann in caution said if "moderate success is achieved, I will go one better and say it is a roaring success which it should be from the log readings.
Imagine if this flows well above 12M+/day and the condensate is just as sweet. How much interest will this generate.??? How many pip will it rise.???
Say if it flowed 12 maybe 15mcuft/day or more would this tempt the new board to reconsider to maybe increase the plant size.??? Is it possible. I see a huge uplift if all goes well or beyond expectations on this perforation zone done, a well worth $1M spent. Will raise many a eyebrow and investors in all depts.
I would also suspect that it could open the doors to another party entering the fray with $$$$s to spend. Fingers crossed a huge result can turn the corner for EGO.
EGO Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
