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Ann: Revised Terms on Corporate Transaction with ERM Power, page-51

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joewolf

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31/10/14

14:50

Post #: 14216856
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Originally posted by viney402 ↑

Good; we now agree the deal should not be done.

Our board should get passed it and find something else that originates from somewhere else, other than their own back yard.

"We have no money"

Condensate is paying our way

We will have access to another 10 to 12 million per annum as free cash flow in approximately 11 months.

If our board cant do something with that then they are not worth the money we are paying them.

Of course there we are back at the reserves. ITS ALL ABOUT THE RESERVES!

If there are bugger all we are stuffed, but what if we have 5 or even 10 years of reserves at current delivered output. Surely we can do something with 10 million per year due to us in less than a year.

Viney

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We have a cash flow shortage of $1million each quarter - That will continue for another 4 quarters - Please how are we paying our way - ERM pops more money into the loan each quarter.

Lets get real.

EGO Price at posting: 0.6¢ Sentiment: None Disclosure: Held

EPW Price at posting: $1.80 Sentiment: None Disclosure: Held
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