The directors not doing anything we do not know we only surmise that.
They did plenty they had 33 meetings most would have been about the well stuff up, origin costly exercise of pie in the sky and should have secured the company first, walk before running, the debt debacle was left till last minute (this mistake has cost us in break fees with Verb and now issuing more to MR all at our expense, just to save interest) and of course all the farmin meetings. Propose outrageous bonuses for destroying our SP all time lows and blame holders for it. That's what they have done.
What they didn't do was look seriously at board skills and removed the ones who couldn't do the job well plus they could have saved on consultants. Why do we need 3 geos, with Patton, Milton and Brown. Has KA done a great job as CEO, 1st well stuffed and communication skills not he best imo when public speaking at conferences, not the best salesman. TI what has he really done apart from saying after 6 mths will step down as chairman. TV was in charge of debt and legals, PG only one to attend all 33 meetings well he would as he is on big losses so far. I believe he was the one running about trying to save us, he has to most to lose. Rachael Rees CFO was in charge financials, why are we almost broke, where has all the money gone. Do we really have the best team. All in my opinion (imo)
KQ knows exactly what to do and imo they know it and it would go against their 5 yr strategy, KQ is interested is results driven, makes smart decisions and strict cash management skills which we could have benefited imo etc. Why on earth wouldn't they want him and actively go against him, he would only benefit the company. I believe they fear him as he is a doer not a planner. His skills are outstanding they know it and it seems to me they do not want and expert doer. I think it is more personal than professional. 249 will clarify his side and what he brings and our board must be concerned as they haven't got a good story to send have they. Oh that's right blame holders. All imo.
Also they wasted 1/2 Mil on SAP, stopped communicated to holders, market the company poorly, wasted significant funds, - we raised 15 Mil to drill RGN and earned 20 Mil from sales now only have 3 Mil in bank - where has it all gone in 12 mths. Have no idea when they are drilling after RGN stuff up - when is Lockyer being submitted to DMP etc, etc. All imo
Blaming the board and the drillers for the problems with the drill do you have any expertise in drilling to say that.
Never said the drillers were responsible it was EGO managing this and they blew it. Speak to people and you will get your answer. We do have great GEO's who find what we don't have is expert drilling team, RGN backed this up imo.
Will you get a guarantee if the new board get in that it will not happen when they drill may be they could but it into the 249D
They cannot do any worse can they, of course they will do everything to drill a successful well and will not make mistakes. They will finally drill 3-4 wells in a year not 1 in 3 yrs. This is the best and cheapest time for explorers and drillers to do this. Our board wasted 3 yrs and importantly the last 12 mths in this window of opportunity imo.
The capital reconstruction we do not know that it is a fail yet as other oil companies SP has dropped as much as ours and some that poster on here where putting up as an example for ego to follow .
Not sure what you mean, but there are others who have gave holders profits not just gone down. Most on there list are oil stocks not gas suppliers. How many are producing. Some are basket cases and don't have the potential we had and have. Some of these companies made bad financial decisions and paid the price for it. Can not compare the others. We are predominantly a gas company, oil pays for admin and is a bonus our gas is on fixed contract plus extra gas sales in a supply shortage and great demand. The oil story is a smoke screen wrt to us imo.
Not once have you said they saved money not drilling with KEY and KQ may have done the drill he was there when it was being arranged and non of the concession where in good stead if he had stopped there we may have lost them who knows.
What has KEY got to do with EGO, who cares. They focused on the Perth Basin all others were flogged off for basically no money. What has KQ got to do with it.
Was it to SH advantage they got rid of Wharf hard on Wharf though.
Who cares what's the point of this, move on. They defaulted and gone.
So that is the best you can come up with, there is obviously a lot more I can say but won't for obvious reasons anyway just wait for 249 and read both sides and if you still believe great for you but as I said I have to focus on 60Mil+ votes, I have spent enough time on you ok Wabbit. Good bye and good luck. We live in a democracy and unfortunately nothing wrt ego comes easy for it's holders that's one thing we can all agree on.
EGO Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
