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12.0¢ empire oil & gas nl

Red Gully progress? Bueller? Crickets?, page-19

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bolat

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17/06/16

13:54

Post #: 18057572
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Originally posted by Kit67 ↑

Even though this news flags some delays, it does highlight the positivity around RGN. The release stresses the opinion that the $2m spend is quite ok given that they are of the firm belief that RGN will yield results. Assuming that it correct, then it is merely a "delay until good news" situation perhaps.

What we mustn't forget is that MIN just paid 45 cents for their slice. I hardly think they want to sit around with the SP sub-45 for too long, or their own directors will come under fire from their shareholders ("why the heck did you pay so much for EGO?"). On the contrary, I think MIN have brought more to the table that just a bag full of cash. I think that their influence over the refinancing will be quite obvious, and I am quietly confident that MIN will be mentioned in some way with a farmin on Gin-Gin East or Lockyer Deep. Yes, they may be scoping, re-casing, and testing RGN - but at the same time I suspect that there will be some movement around those other potential spuds.

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Exactly my thoughts regarding what MIN paid for their shares, I don't think their shareholders would have been too happy to see their investment down 35% or $3 million (if it got back down to .30cents.
Also, some here expected the possibility of RGN1 could be plugged, but finally it looks a certain success...

EGO Price at posting: 40.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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