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EGO

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12.0¢ empire oil & gas nl

So who is the problem?, page-11

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healyn

5,453 Posts.

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23/05/16

13:32

Post #: 17841596
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Originally posted by Singa71 ↑

Toppy we have commented on this to death, we don't need to rehash. I won't change my opinion and you probably won't yours, so why bother we all have to move on. What will be will be.

Some think the board has underperformed and are directly responsible for miss managing EGO, some think ERM are asleep at the wheel some think EGO is going great and all will be well.

This is not a complex issue from my perspective, our board have underperformed and made plenty of bad judgement calls and I believe either ERM/Garratt will shake the tree or someone else will come in and T/O us. One thing for sure is under this current management team we will always struggle and importantly the brokers, big investors and many in the industry have just lost confidence in this team. It's so obvious to me and to many holders. Something has to give, only a matter of time.

We do have an upside once management are gone, we have large area, survey almost complete, big players in area making T/O's and Asians companies looking at the Perth Basin as well. So in that respect I will accumulate. What we urgently need is a couple of resignations and ERM to crack the whip (Toppy that's an Aussie thing isn't it).

My other concern is the debt and where has our money gone from Alcoa, why is everyone talking re EGO that they have to do Capital Raise. If they actually do this then it will be another bad decision and the consequences will be devastating. Prime target then for the vultures.

Board start communicating, hiding isn't going to fix anything, it just demonstrates how pathetically we are being managed or you guys have really destroyed our well and too scared to say it.

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If ERM is to crack the whip, they need to make sure the dead wood flies off the tip.

DYOR

EGO Price at posting: 32.0¢ Sentiment: None Disclosure: Held
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