You're not wrong MonH,There are some games being played at both...

You're not wrong MonH,

There are some games being played at both ends.

As soon as the revised SBN announcement came out this morning re an extra 5Bill @ 0.16c shares to be issued on CR basis I pulled my buy order immediately...something doesn't add up here.

Your right about the block of sellers @ 2c stifling any prospect of trading this stock.

When you think about it as a potential buyer ,it's just not worth paying any more than 1c because you will be stuck in a 2c queue due to rush for the gates by the sellers.....It's not worth paying 2c because the CR is cheaper and there will be 5B shares available...you also know what a CR generally means...dilution and SP drop.

That's why there is an impasse in trade this morning.I note that the last trades finally moved circa 50M @ 1c so what happens when the few 1c buyers are taken out? ...LOL

EGO are very coy about releasing the actual reserve figures from the proven well (called GinGin west 1). This has been a stumbling block for EGO's SP rise,since no one really knows how much is down that hole...we know the PSI/O&G makeup but not how much supply there is from that well....could be 3 months worth of supply or 3 years or even more but my gut feel is that it is a lot less than the previous estimates.

Anyway enough from me,be careful and good luck.

Cheers

HR

No advice given or intended..strictly my views above ..DYODD and always remember ..it's your hard earnt money..spend it wisely.