re: Ann: EPW: ERM Power rejects Empire's ...
You've got to wonder about the running of EGO.
In the last 12 months we've got:
21/11/12: Origin withdrawing from EP368 & EP426, according to EGO this was because of delays by DMP with granting of variation to the work commitments. EGO sought legal advice on trying to prevent them from departing the JV.
9/4/13: Wharf Resources deemed withdrawal from EP389 for non-payment of cash calls. Court action initiated by EGO on 11/9/13 to force DMP and others to recognise the withdrawal.
14/5/13: Allied Oil & Gas deemed withdrawal from EP416, EP426 & EP432 for non-payment of cash calls.
14/8/13: Black Fire Minerals sale of interests in EP435 & L16 due to them being non-core assets.
27/9/13: ERM Power lodges 249D to replace three board members due to them believing "Red Gully and other Empire assets have significant underlying value which Empire’s Board has failed to realise for its shareholders and joint venture partners.
In this time there has been just one farmin by the yet unlisted Perth Resources.
1/11/12: Perth Resources farmin to EP454. A recent start up with no track record in it's own right.
EGO Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
