votiing against team hc, page-26

Hi WPA, I respect your views but will have to respectfully disagree. I've been a long-term supporter of MEL and like most long-termers I'm sitting on a huge loss (over 1.1 million shares held). Under Glenda and crew I saw nothing but success and continual growth in reserves. I was quite disheartened and uneasy when Glenda and crew left but held the course and stayed with Peter et al. to give them the benefit of my doubt. Now Peter is a nice guy without a doubt, but a nice guy does not necessarily maketh a successful company, and under our current Esso crew I've experienced nothing but share value destruction and a plan to progress the company that appears to be in actual fact not only regressive but obscenely costly. Knowing that funds will always be tight for a few more years, how is it possible that the board could be so irresponsible as to squander these funds on decommissioning wells and ponds that did not *yet* need decommissioning? How many million were wasted on unnecessarily hasty decommissioning that will now have to be raised again from shareholders who are already suffering from SPP fatigue? Why haven't we yet re-drilled the "greatest conventional discovery in NSW history"? Is there a reason why Peter and crew have continually delayed what could have been a company maker in itself? There are many other questions that remain unanswered but I've given up on expecting answers from this BOD.

To state it clearly I simply can't understand Peter's vision for the company any more. This sudden move to drill the conventional well (yet another "some time in the future" plan), coming only a short time after the previous announcement saying that very little will be done for yet another year, and prompted only by the fact that Glenda's crew made a move, is simply too little, too late for this long-termer. Only time will tell whether a change of deck chairs can move the company and the share price in the right direction, but at the moment I can't see Glenda and crew doing a worse job than the Esso crew have.

I think you are all kidding yourselves if you think the grass is greener on the other side!

Well, there is no grass on my side of the fence, not not any more at least, so the other side really is lookin' pretty good to me WPA.

So with that (for three holdings):

Company: Metgasco Limited

Date lodged: 14/10/2013

Your vote was recorded as follows:


Appointee 1: the Chairman of the Meeting



1 Adoption of Remuneration Report
AGAINST


2 Election of Mr Gregory Short
AGAINST


3 Re-election of Mr Nicholas Heath as a Director
AGAINST


4 Cancellation of Forfeited Shares
FOR


5 Approval of Issue of Shares to Mr Peter Henderson in accordance with Listing Rule 10.11
AGAINST

Cheers and good investing to you and all.

Hanabi