How Good is RC?, page-24

No, not me mate.

And yes we have drilled one PRODUCING WELL under JH's control but we have drilled other wells too. After all we are an exploration company. are we not.??

And now after four and one half long years of waiting we haven't drilled one single well, we have bought some but some of them are practically useless too for, and if they were any good, we wouldn't have bothered to borrow more money to build a pipeline from Dingo to Alice Spring when there was one there already in Peel Valley. And now we are in debts up to our necks, if not past our nose, and we are in serious needs of some finances to keep up to our commitments with STO/MQG, plus having to repay some huge loans which, to date, remain still at very high levels. Facts mate......not fictions.

Now, we are already $90million in debts and according to some posters here which used to be a serious believer and which is now asking questions, and supported by Psi, we will need at least $75 to $ 90 million in finances to keep us going. That is if we don't have to start keeping up with what is required by us from our JV with STO or now MQG.

Then you also write: ""(RC, rather than continual capital raising, has used debt.)"".

Totally incorrect my friend. RC has done plenty of Capital raising, even without offering any of the shares to the existing shareholders, plus he has accumulated a hell of a lot of debts too. And, besides having pre-sold a huge amount of gas for a song and a dance, (more liabilities to us that is), he sold some assets too.

Just have a good look at how much dilution we have incurred thus far under RC's tenure and then tell me. Just look at how many shares we had right after the capital reconstruction which was supposed to remove us from the penny dreadful classification ("to dream the impossible dream"), and how many shares we have in circulation now. And don't forget as to how we will mange to get the extra funds seriously needed and how much more dilution we will need to suffer. Once again, Facts mate, not fallacies.

Have a good day. I am seriously intending to have one myself although sometime that doesn't turn out as planned.