Six months till AGM - Class Action, page-59

Well I would go back to KPMG's valuations which I think was bugger all. Why. Risk. (see Falcon's post).
But you see here, that the valuation is based on "selling the asset', not developing it.
The value to EGO is the increased potential in EP368 (after Waitsia nearology and the Black Swan Survey).
They are in a much better position to negotiate a bigger promote (farmee's entry costs e.g. contribution to
initial drilling(s) costs, payment for previous surveys etc.).
Even though oil prices are on the rise and A$ falling, there is still an air of uncertainty, making companies wary of ramping up cap.ex.

Financies are only interested in reserves and near reserves (i.e. a flow tested resource). Even EGO's announcement that it will flow test will not get them to sign on the dotted line. What I think it willdo is give a reprieve on the ERM loan repayment date (after August it will be + interest).

I don't want to contemplate other outcomes.