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12.0¢ empire oil & gas nl

Pointless whinging...., page-34

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Samurai8

319 Posts.

14/03/16

17:51

Post #: 17271255
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Originally posted by Singa71 ↑

I have every right as you say whinge, I can't even sell out some of my shares not even today after all this media news. Who's fooling who. No one wants to buy them, farmin with them and banks don't want to lend them anything. This is officially a dead stock, thank you very much our board have done a great job haven't they. Read article on web and what a load of rubbish. As a investor I live in the real world and the real picture is it sucks big time.

Obviously EGO contacted the paper to say look at us how wonderful we are going. If the newspaper actually looked at what this company has done and the terrible state we are in, then I can think of a completely different story.

Such as

"EGO largest Perth Basin holder of what exactly, no money and debt ridden to do anything for it's holders. The recent consolidation heavily supported and weighted by the boards votes has proven to be a disaster, complete failure in fact. Has EGO joined the list of so many other companies that consolidated at the wrong time and way to heavy.
This stock currently struggles to trade, in prisoning it's holders on huge losses. The once darling of trading and full of excitement is now officially stagnated, is it dead in the water, time will tell. One can only feel aggrieved for it's long term holders. Will they be left stranded and carrying huge losses if the board struggle to repay debt. The auditors have highlighted this very point.
The board have clearly tried to turn EGO into a Mid Tier Gas player, unfortunately has it back fired as the market and investors see the consolidation as a quick play and someone misleading as where are the reserves and MC to support being in the Mid Tier club.
Will they regret not doing the hard work to shore up reserves and increase the MC as most other players do before they enter the Mid Tier group. You have to demonstrate performance first as just doing a huge consolidation sends a false message and the market seems to see this as exactly that.
Since EGO AGM the SP has almost halved and no one can trade their holdings, EGO has debt problems and no drilling planned for over another year. So where is this once highly potential oil/gas player going to end up.
They might have some income but with huge admin costs, large debt and no funds to drill. Can EGO actually survive. Or will they be a sitting duck primed for T/O. Many cashed up players would be very keen to capitalise on EGO's failure if this indeed is the result.
Has the board made the right decisions or will they be responsible for EGO's demise. The market doesn't like what it currently sees. What is EGO's fate, shareholders are not happy and will they encounter difficult times ahead, watch this space, we watch in anticipation to see how this plays out".

Singa reporting from a very sad state of affairs.

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Singa You hit the nail on the head !
Everyone has the right to dialogue as long as its not libel or defaming some one !
if Empire had a hundred wells producing they still have to have a market for product !
Right now I am shaking my head and thinking what the F**K did I get into here,and how will I get out with out without too much damage,then again I am just another whinger.

EGO Price at posting: 37.0¢ Sentiment: Hold Disclosure: Held
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