Missing, O&G companies are simply not in favour atm. EEG Chairman mentions in his May presentation that things should turnaround for O&G later this year, but I think think the turnaround will be limited, followed by another slump. It may take another 2-3 years before we see a meaningful improvement in O&G. We need to see further industry consolidation. EEG are preserving cash and will come through this slump due to their US operations. To me there will be further top-up opportunities in the next 12 months for some serious upside in 2017/18.
(http://imagesignal.commsec.com.au/d...nZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZmRlbGF5ZWQuanNw)
Empire Recommendation, page-15
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