share consolidation - not a good idea!, page-34

I reckon the future is going to be very bright. There has been a lot of spruke about the massive holdings of ground EGO has in the Perth Basin.

This expansive area is about to be surveyed in the airborne Gradiometrical exploration process. At some point not too far down the track, it will be revealed whether or not there are real high value prospects or something else, which may not be so compelling in attracting a farm in candidate.

There have been open ended assumptions for quite a long period of time about the possibility of great success based on the areas we hold, and this must and will now be put to the test. This is a serious strategy and I think a lot more will become known about just what EGO is going to be worth. Ultimately I believe the outcome will be a clear demonstration of how astute and business like the Company has become under the current Management.

Also the step-out well at RG North will be pivotal to suring up the production capability from the Gas plant. I like the odds at 50/50, not to put too fine a point on it.

I am now a buy.