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Lets look at a hypothesis for a Farm-in?, page-39

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wabbit

4,299 Posts.

28

08/06/17

07:04

Post #: 25162698
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Originally posted by healyn ↑

Unfortunately Kit wabbit can never let it go. He was called a professional troll on another discussion forum and I believe he is exactly that.
Doc's advice to shareholders when he posted here that if they wanted to make some money to offset the losses they have incurred by holding stock in EGO was to buy shares in another WA base oiler with interests in the US.
Many did and guess who else did?
Yes the one and the same wabbit, yet he still maligned Doc.

Doc has approximately 800,000 shares in EGO and there are only 4 shareholders who have more, so in that respect he has more than a passing interest in the company and of the board of directors, the people who are supposed bring value to shareholders' investments in the company.

Yet shareholders watch in horror as their investment lose value week by week.
Yet wabbit contends BOD are doing a magnificent job, the problems experienced by company he says are external, nothing to do with the decisions taken by the BOD.
Wabbit suggests problems experienced by EGO external such as the present price of oil which affects the revenue it gets for its condensate. But EGO is predominately a gas producer and its gas is sold under a set price contract to Alcoa and it is EGO's bread and butter and it is something the company needs to find more of as its gas reserves are declining as is the amount of condensate coming up with the gas.

Wabbit it seems is content to vilify anyone who posts here questioning the board of directors, their decisions, the seeming lack of direction as to the future, the absence of milestones to be achieved in a vague 5 year plan and the never ending discussions with potential farm-inees, yet he offers nothing of substance himself.
Doc has met with EGO's board at their invitation and they know where he stands with regards as to where this company is proceeding and what to do about correcting that course to get out of this quagmire it is in.

One must question the person who presents himself as wabbit. Has he met with the board, does he really understand the predicament this company has bogged itself into. I do not believe so, as it seems he is supporting the status quo for reasons for the life of me I do not understand as under this board's watch the shareprice has plummeted from 50c immediately post consolidation 18 months ago to its low point to date of 14cents. Yet wabbit boasts he has averaged down by buying more shares as the company's share price falls.
How many shareholders I ask have the financial wherewithall to have followed this person's example, that is if he is at all truthful.

The AGM is only a matter of 4 months away and there is nothing emanating from EGO to assure shareholders there is something positive going on. The board had promised transparency and communication with shareholders but since the ill advised 100:1 consolidation there has imho been nothing but plans that either did not happen or went nowhere, a communications fog and a deafening silence.

Doc on the other hand has a plan as he said here on HC some weeks ago. There will be a change at the top, he has 3 directors, very experienced in the oil and gas business ready to take over the reins and to turn this company around.
Can he do it? I for one believe he can. He has done this before.
Will shareholders support Doc? I hope so for all our sakes or else Doc's other prediction here on HC of the shareprice falling to 10cents will come about. What happens when that occurs only the predators watching on know.

I also notice the number of discussions on and about EGO on HC has largely fallen reflecting EGO's circumstances and the dearth of information from the company perhaps. Whilst drilling is going ahead in the north Perth basin by our competitors our board appears to be navel gazing and that can only be taken so far by shareholders I believe, unless they are in support of the board and what a particular poster espouses.
Meanwhile the AGM draws ever closer. Something will change, either Doc's dire prediction or something more positive. I sincerely hope it is the latter.

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healyn

It seems you do not know to much look at the date I held Maverick which is now Feedom before Doc was on the EGO register.
IT makes good reading but not much is true.

Last edited by wabbit: 08/06/17

EGO Price at posting: 15.0¢ Sentiment: Hold Disclosure: Held
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