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healyn

5,453 Posts.

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03/07/15

10:49

Post #: 15575231
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Originally posted by jake0002 ↑

Drillsearch MD just parted company - immediately.

Have a look at this statement.

　
Mr McKerlie said: "We are reviewing our strategy of a singular focus on the Cooper Basin. Our Cooper Basin business is well developed, and we will continue to work hard at this. However we must actively look to the future and make sure we continue to deliver growth to our shareholders.

"Drillsearch has developed a robust and proven approach to exploration and development and we have an extremely capable team to deliver this, led by Walter Simpson who brings to the acting CEO role a proven track record of project delivery in multiple jurisdictions.
"This approach is now in our DNA and we believe we have a compelling and repeatable business model. We will look for the best opportunities to apply that model, be that in the Cooper or other Australian Basins, or in Basins in time zones that we can easily manage from Australia."

so DLS want to use their expertise gained in C/B to expand into other basins.
that could be in Aust or o/seas in similar time zones.
seems M/D and Board had different views?
But point is, could DLS be a partner for EGO in some way?

just speculating

Expand

Maybe it is not jsut about Drillsearch. WA's Kerry Stokes maybe the one to watch.

"Drillsearch's largest shareholder is Australian billionaire Kerry Stokes, with a 19.9 per cent stake.
He also has a 19.9 per cent stake in Beach Energy."

Source: http://www.sbs.com.au/news/article/2015/07/03/drillsearch-ceo-departs-immediately

EGO Price at posting: 0.5¢ Sentiment: None Disclosure: Held
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