I had announced here that Maoming imo, didn't not intend to get a higher share in EPG.
Todays annoucement implies that, at first sight I was wrong. At second sight I might have been right and that is not a good new.
September was eventfull for EPG but not very profitable. EPG was starving before for cash and still is. My feeling is that Maoming had to put extra money to prevent the bank accounts to go dry.
Hopefully EPG will get serious cash soon. Some other good news should arrive soon that bring much hope on Gazonor side.
Even so I wouldn't bet that EPG will not have to undertake drastic cost reduction next quarter including office downsizing.
EPG Price at posting:
18.0¢ Sentiment: None Disclosure: Not Held
