The lament of the ignored shareholder..., page-33

We started going bust 3-4 yrs ago mate, due to the poor decisions made and it's getting worse in my opinion. Failure to do the north first has put huge pressure on us now. It has bitten us all badly. But what would I know they have 5 yr plan. I know nothing! Just a mushroom with an opinion.

"EGO is not a good sensible investment in my opinion " This is why! Sadly I am stuck here.

Even when a new team or farmin gets up. This company has to spend huge money on more surveys etc long before any drilling happens, plus along with huge consultants and admin/pay eating away our decreasing income stream with depleting reserves. Certainly not a healthy financial position we are in plus big debt due soon.

I always found it concerning when CFO said to me why would we need to repay debt when we have interest free period back in ERM days etc. 101 basic business repay debt especially to survive difficult times. Well those times are now and certainly no chance to repay debt. So great decision taking by company wasn't it then.

It's almost like after almost 20 years this company has blown all investors money with only a plant and one proven well which is dying to show in this whole period. Hardly worth celebrating is it. SP $1.60 to 12c. Big failure is how I see this company. What can anyone possibly say to this unbelievable FACT.

Now we are back at the start again. Back to the world of future cap raises and talking up Bs after BS again. Job well done boys. Industry leaders and company of choice my ass. What's unbelievable to me is they are still representing our investment. What a seriously messed up world we live in.

I seriously never thought I could have done my money here. So much potential and opportunity wasted. But each day passes and I seriously cannot see any where near making a return on my investment. My average is same as MINs. Most holders are a lot higher, seriously struggle to see any profits for those poor holders and myself. Look at AWE with huge plant and gas coming. We are well and truly in a seriously bad position in my opinion.

I guess if we go bust some of the very big holders who continually went against change and enjoyed the Soph's cheap raisings in the past do as well. They had plenty of chances to support change. I wonder what their advisers are saying to them now. Morgans also very quiet these days.

At least the Soph's are finally living in our world of pain now. Karma. Just wonder when our team offer the Soph's cheap shares again. Surely must be coming soon as need to pay the huge admin bills, debt and drill before we go broke. They have there 15% to use. 15% could go along way to protect against a spill wouldn't it. All to come sure of that.

Our company has shut down all lines of Comms with holders, if true, what an absolute disgrace. Very poor form in my opinion. Things have got a little bit difficult for them so they appear to have shut the door and turn off lights as to speak and hope it changes then they will turn lights on again. What a childish treatment towards holders by so called professionals we pay. Why would anyone seriously consider investing if company does not take calls etc.

Has anyone actually spoken to the company PR guy? If so does he actually take calls?

All our company talk of excitement etc, is never realised is it. The only excitement is probably pay imo. Tell me one bit of excitement in a 4 yr sliding SP and serious money issues. Maybe exciting for MIN to exercise debt default and TO for nothing. Have I missed something re excitement? I am not excited one bit I actually hold shares unlike most of the people making the decisions. That have led us to where we are. All they have said is bad holders, price oil but are excited. Seriously!!!!

Plus the out of control 5 year contract extension when all they have delivered was failure after failure. This extension should never have happened. Totally absurd actions considering our terrible circumstances we were in and still are in. So people still want to invest now ?

When will be our point of no return. Just imagine when another GFC hits which in my opinion is coming soon and we will be absolutely destroyed. Our SP heads will be as worth as much as options if this global collapse happens while we haven't secured more gas reserves and debt remains. Revenue falls away. Still keen to invest??

I guess the only happy companies are the ones who buy us for nothing just to pay our liquidators. Can this actually happen to us? Seriously worth considering this very unfortunate possibility. If I could get out I would. My offer still stands for anyone willing to buy off market. I think we will have far worse things to come.

Just look at the facts ATM. I agree with the market and if I was new to this stock I certainly would not invest 1c in this team or companies future expectations when looking at the previous years performance and true state of financials and debt we are in. Absolute madness imo This is a dog. Time will prove who is right it wrong won't it.

Well this is just my personal opinion and my concerns going forward. DYOR. Hope I am wrong. Only a new board can have any chance for us to go forward in my opinion. This company has to go back to basics if any chance to survive in my opinion. Personally over EGO.