Over the past couple of years and since AGM and the SP and HUGE consolidation, we are left at all time record lows, no liquidity and left dreaming of what could have been. We currently have no chance to sell and no way to recover a decent or some cases a profit at all. Thankyou very much to our board who got all this so wrong. Didn't they learn something with all this 25 yrs experience, who are they kidding.
OK just my thoughts of how to fix EGO and return decent profits to all holders.
Firstly our board despite their best efforts and we have to give them some praise here they fixed the plant and drilled a hole. However their future planning is not good enough. Their decision making process is focused on the very large holders well it seems that way to me and maintain years in this company earning a great remuneration. Slow and steady is their motto.
May I suggest this
- Remove the board. Get some true professionals and independent chairman who actually cares about seriously unlocking value to every holder. Actually get this company moving.
- New team comes in and sorts out the debt situation by buying ERM out plus the debt, which should attract a cheaper buy in price. Removes the stigma of big brother controlling this company, why else is TI not honouring stepping aside as chairman.
- Announce a very aggressive drilling program, suggest 4-5 wells in next 12-15 months (it can be funded very cheaply DYOR). Funded by the new team and cap raisings, NO FARMIN we can do this on our own as we should and work closely with Alcoa/BP.
- Do an important share split where as the consolidation is reduced say 25-35%, this removes the ill-liquidity which at present stops the larger holders from selling. Unless off market of course, but who would want in under our current plan and direction. Our stock needs liquidity and at a price range that is realistic.
We are like a sports Honda dressed up as a Formula one car. Who are they trying to kid, I know it as does the market except for our board who live in blue chip mentality. (We are not a major gas player only capable of delivering 10-maybe 50TJ's after successful drilling one day soon not years as per our boards plans, capitalise now and in 12 months, not start in 12 months time.) Our price should reflect this. Consolidation is and will always hurt us going forward. The board simply got it wrong and as such need to go.
- New team will market and get hands dirty by regular drilling reports etc. Now we have a market/investors finally aroused and interested. About time I say.
- Then finally in 12 months time we have a much increased SP then EGO becomes a T/O target in the market, we all have a chance to seriously make money finally, communication everywhere, media are excited and more importantly we can all get out of this and finally get on with our lives.
Anyway that is what I would like to see happen starting from next month or two. Just so tired of reading peoples frustrations, boards doing as they like and pay what they like and ultimately we are all led down the path of PATIENCE it will happen.
Simply this it is all BS, sorry to use such a word but I am not happy and want change and serious direction.
I sincerely hope my plan happens. Now over to you to attack my opinion again.
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