Ann: Appendix 4D Half Year Report, page-36

I remember taking a quick look at EGO, but it didn't really grab my attention, it was just one of many oil companies I was taking a quick look at. I did pretty well with some of the ones I did choose. That's a good example though; it's a common theme that investors become inappropriately loyal and forgiving once they've put their money on the line. For many people, once they put their money on the line, the are mentally committed, and selling out is an admission that they are wrong. We've clearly seen no shortage of such people around here discussing AEB over the years. I find watching other people making various mistakes helps me avoid mistaking them. Good on you for recognising your error (we all make them! Sometimes because we were lazy or stupid, and sometimes just due to bad luck) and selling out rather than being stuck with the common denial mindset.

You're dead right about the AEB reports. They've always been sketchy but increasingly they are just over the top. They say they're selling stuff but report zero gross revenue for it. This is of course just one example of the many blatant omissions (actually illegal omissions in some cases such as this - they literally have a legal obligation to report revenue, and they are openly acknowledging that it exists but then not reporting it and giving it a figure of zero) littering their reports.

The lack of news of the trial plant in India is just par for the AEB course. I'm not sure about the exact legal situation about reporting such things, but it's quite ridiculous when they give no news and often not even a single mention of their supposedly major projects. It's quite remarkable that shareholders are willing to give them a free pass on this.

I totally agree, I think we'll see them in administration this month. Even most of the long term shareholders are probably coming to terms with that now.