Where To From Here, page-85

"Nothing is lost until you sell you could lose more or less."

So all those shareholders of Dick Smith haven't lost anything as they will never sell their shares.

Sorry but this concept was debunked decades ago. The issue is you crystallize a loss on selling but to suggest that EGO shareholders haven't lost anything because they haven't sold is just plain outrageous. many bought in at 1.5c to over 2c that $1.50 to $2.00 to break even.

If you were to put up a bid @ 70c I bet you could probably get 20% of the company right now. Fearful of the 80c - top up - I presume. Really that's another cherry - No-one is even posting about that - the share has to double to even get into sight and really no-one in Oil and Gas is even contemplating that.

ERM are paid back - please with what.

I want to be positive but really this kind of post is not helpful.

This is the positive scenario:

1. We did find condensate and gas. We have a problem with the well - hopefully it can be resolved.
2. Whilst we dont have the resources to repay ERM its likely that both parties will have to defer repayment and start servicing the debt. As they own just under 20% its not in their interests to put it into administration.
3. Whether or not you believe in the board they are the only game in town right now as I cannot see that anyone would be prepared to takeover the management job given the issues facing the company so they need support from shareholders.
4. We should still be producing positive cash flow from our existing resources...

A takeover offer may be coming but I cannot see that being above 50c - IMO - Some may want that opportunity to get out. So I dont see that as the best solution for many.