ESG 0.00% 86.5¢ eastern star gas limited

edgeroi 1 corehole rumours from the narra pub

  1. 205 Posts.
    Good to see ESG's share price is recovering albeit slowly however I wonder why ESG management has yet to announce the results for Edgeroi 1. This corehole is located 9kms north of Narrabri and the word in the pub is results are really good. If this is correct what a bonus for ESG as it is quite a distance from the previous drillholes. Edgeroi 1 was spudded on 13/9 and they were only aiming for a depth of approx 900 metres so the results would have to be in ESG's hands. Pub talk wonders if ESG may be happy to see the share price below 45 cents prior to the Annual General Meeting due to the somewhat contentious issue of shares at 45 cents to the Chairman and M.D. I can understand this low issue price to some degree as its only a few weeks since the s.p.briefly fell below 20 cents nevertheless in the views of many this issue price is a very low price indeed. Results from Edgeroi 1 and the commencement of the laterals,( where is that drill by the way we keep hearing round town its on the road from Q.,it must be travelling slowly) should cause the 45c issue price to be easily exceeded in a couple of weeks if not earlier. I don't think most shareholders would call the issue price a real incentive its more like a reward for past services.
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