At least we seem to have reached a consensus that the immediate future of ego revolves around the viability or otherwise of RGN1. The future could look quite good if we end up with a reasonable result at RGN1, especially if we get a further rise in the price of oil in the next few months. Another positive sign is P Garrett buying more shares, which as a director could be an indication that he sees a bright future ahead.
If indeed RGN1 is an outright failure, apart from the benefit of a rise in the poo which would help in meeting future operational or exploration cost, what direction should the directors take to start progressing ego towards the next step of building a solid platform on which to start achieving some of the stated aims of the BOD. One of the most important actions in my view is to somehow finance the drilling of Lockyer as soon as possible.
We should also remember that total anual revenue from the sale of gas and oil is around 20 million dollars which many infant exploation companies would love to have.
Ally
EGO Price at posting:
34.0¢ Sentiment: None Disclosure: Held
