well now we know what the cost will be not bad, page-8

Hi Marcmorr,
On cash flow basis Gazonor was NOT worth more than what they paid for it. I think the upside was more in the acreage itself, the potential to upgrade CMM production and for the increasing interest in the last year or two in shale and unconvention gas in the region. I am sure that is why Transcor was keen to get their hands on Gazonor for themselves plus a stake in the Belgium JV. So my comment was based more on general interest in the asset's upside rather than NPV of Gazanor production. Unfortunately for EPG the GFC arrived at the worst possible time. With easy credit, Gazanor would be a much more developed asset now. Unfortunate timing for my hip pocket assl...still sitting on a 65K capital loss from EPG.

Agree with DrWyas regarding the company being in a better position from a management perspective. The recapitalization will probably go as well as possible given the link the MD and Moulin have. Nevertheless, expect the share price to unwind significantly on resumption of trade, especially given the run to 45 cents had a strange smell to it.

Interesting to read that debt had been hidden through intercompany loans....can't remember reading about that debt in the quarterly...but might be my poor memory that is the problem.