No doubt this company is underperforming..but at 13.5c I'm prepared to ride this one along for a while and see what happens.
The comment from AOE's Nick Davies yesterday was enough for me to take a chance..If AOE are assessing European options then the contingent reserves figure for EPG must be tempting to them. Both companies presented at the recent Excellance in Oil and Gas conference in Sydney (no doubt a bitter pill for long term holders!)I can't think of who else AOE would be running the ruler over, but maybe there are heaps of candidates. Just seems coincidental Davies should suddenly announce this was moving forward due to rapid developments in the international business..
Even if there is nothing in the comments from AOE, I think some other company will be looking at EPG at these prices. As N Davies said (to paraphrase) the situation with gas supplies from Russia and higher prices generally, makes European csg look very compelling.
I also get very sus. when I see the sale side stacked like it is today..
There is a fund getting out and they have quite a few more to offload, but I really don't know why they would line up 600 000 shares at 14c, one hundred thousand parcel at a time would make more sense.
Implies to me something is brewing but who knows it might head sub 10c..if they dump the lot it probably will.
EPG Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
