eni project news?, page-2

I bought this share when it was a 300m market cap company and had made a profit of 10 m the last six months.

C Lange came out and said to the ASX things would turn around the next year after a bad year so I "averaged down" at about 30 cents not knowing the company was weeks away from going under ( It did go under, the long suffering shareholders saved it with overpriced 5 cent shares) and the boats had been sitting in port acruiing massive mooring fees with no income. Large NAB loans had been deferred ( I call that in default) and not disclosed to the shareholders.

The management here are basically the same, CL took his $750,000 severance payout with monies raised by selling more shares to already burnt SH as I havent read anything to the different and nobody got a rap over the knuckles for misleading the public on the true state of the company and its lack of disclosure .

Dont ever rely on ASIC to deal out any real justice when dealing with share disasters and accountablity.


Because its the same crew,the price of this share will give you the truth before the fundamentals come out. Yes its a new company but that doesnt mean things cant go wrong or that the management are an honest bunch now.

Anyone who attended the shareholders meeting where they asked for support would be let down by the current share price , Robin Kings lovely salary at 500k and the lack of encouraging news . Either its not there or management are too lazy to try and stir interest with positive ASX releases.

Good luck to anyone having a punt. Cant see the SP going much lower . Its very important to remember the 1.6 billion shares on issue here. Will ever be a dividend or will profits go into wage rises , office refurbishments and currency fluctuations

Better value elsewhere with better run companies. I have no postion as declared. Just lessons about what wont happen from ASIC if a company misleads or lies to you. Your own diligent research is the only real protection anyone has on the ASX.