Well I'm a bit more positive than I had over the past week or so. At first I thought the proposal was gang busters but as usual nay sayers and other things start to creep in but after some careful thought, research and conversations I have come to a realisation.
By owning all our own tenements, and with a Plant to refine any produce we may find in NEW Drills we are in a frontline position to attract a fair dinkum substantial farm in partner. In my view we now have a first rate Board and Management team whilst having the potential to own 50% of the Basin tenements. We can offer to farmin partners 40 - 45% farmin partnerships which have the potential to see our market capital holdings around the 300 to 400 million dollars.
So what if ERM get a bonus etc, is that really an issue - if our share price gets to 5 cents and or has a dividend attached to it how much value will we have. The next 12 months should see us pay off Alcoa, deliver profits through the second Tranche sales, enlist a Farmin Partner of signifigant value and hopefully drill wells that produce further gas and oil!
Winner Winner Chicken Dinner.
EGO Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
