Seriously @TheWiggles you are the gift that keeps on giving. You...

Seriously @TheWiggles you are the gift that keeps on giving.

You need to step back a little and consider TEG's risk/reward. Yes if it all goes to clay then any investors invested capital is at risk, be it $1k,$10k or $100k. Any investor is able to immediately quantify the total amount of capital at risk. On the flipside, essentially if L7/EP437 firms up, there is also the potential for the stock to increase in value exponentially. (my numbers show 6-10c+ and I'm conservative) This isn't a stock anyone is invested in for a 7% franked dividend, this is still a speculative stock. (albeit one that is derisking quickly IMO)

You reckon that when the new board commenced TEG had "no other track to go down", give me a break!! When the board changed in February there was no track at all. Since commencing the new board has returned Cliff Head to an operating profit, secured 100% of L7/EP437 and sold off 50% of their GAS holding to allow fast tracking of their new major prospect. There is no second guessing the direction the board is heading.

You then criticise the recent upgrade of L7/EP437 Reserves and Resources. (12/4/22) as there was no new seismic to base the upgrade on. Yes the upgrade was based on a review of current seismic by the new team but who was doing the work? Well Matt Fittall a geologist with 30 years experience. Then of course you have Conrad looking over his shoulder another geologist with 40 years experience as well as specialist experience in Reserve and Resource audits. On top of all that since April the team have backed their assessment by buying the remaining 50% of L7/EP437 and raising funds to move this project forward. But you think its all smoke and mirrors based on your own assessment? No offence but I know who I will be listening to.

Back to your moaning about CH. Stop saying CH is losing $20k a day. You know that's simply not true. CH generates an operating profit. This profit contributes to reducing the cash burn TEG is incurring in advancing its major project. If you annualise this quarter CH will generate around $3m operating profit this year.

Then there is the CH-10 workover needing a custom made packer and your comment that "they need to spend lots of money before being allowed by NOPSEMA to have it produce again". Seriously!! CH10 has been down since September 21. Bringing on back online will increase production by 100bopd. You have a known cost and a known benefit. Pretty simple maths to work out whether the workover is worthwhile. Would have taken the board at least an hour to crunch those numbers.

CH decommissioning costs are a legitimate concern but TEG have not tried to hide this. I don't know if CCS is the eventual solution but know that CH has another 3 years of 2P reserves and additional contingent and prospective resources. CH could continue to operate for another 6-10 years. Even if the return is only marginal it would continue to defer decom costs.

I really wonder about your motivation Mr Wiggles. Why do you keep trying to talk TEG down?

I'm happy to be in TEG. I was happy to be in in February when TEG really was flying by the seat of its pants. I'm even happier now because I believe there is a clear strategy in place. My motivation is not to talk TEG up but when your posts are factually incorrect I'm happy to respond.

Keep on posting Mr Wiggles. I'm happy to keep responding.