resolution 3, page-28

Prejamitempt01,

perhaps you read my rantings from the perspective of a bloke who has kicked up a legal stink because his out of the money oppies expired....Why how could that be???These things were never meant to expire out of the money!!! the charts were wrong!!! the sp would power onwards and upwards tripling the sp within a day or 2,it had done it before , it would do it again!! you had privileged information to the Contrary!!!from a special meeting at the Adelaide Airport with the MD !

You special guys went to ground after you met with PL thinking that you had better keep your special info under wraps.....but you still traded....special...

You consider that you have been hard done by because you reckon you have been fed dud info from the co...MAYBE...IT WAS DUD INSIDE INFO YA WALLY!!!

If you had simply gone on the pr releases and the public announcements, you would have realised the free attaching 07 oppies that the original owners sold, were sold because they were always gonna finish outa the money......They were probably never meant to see the light of day like OVER 95% OF ALL OPPIES.

Yes I traded them ....lost a packet...moved on...and I do mean moved on....this talk of sour grapes from the likes of the crow boy couldn't be further from the truth....If I was in a position to qualify for the ''lifeline''
do you really think I would throw in another pretty penny (it would have been nearly 50 g's in my case since I was stupid and greedy enough over the xmas break to buy nearly 100 million of those preconsolidated suckers)....another pretty penny simply to waste another year in potentially hi anxiety, just to see them bomb out of the money again?

Where do we see the sp on Oct 01 2008....

If it aint 130c the majority dont break even. and therefore wont convert, thus wasting a year and a penny...why not simply buy tomorrow, saving yourself roughly half of the cost involved in converting...... tomorrow it will probably be 50c give or take a few cents.

For your dollar up front tomorrow, you are going to end up with twice or better the exposure when compared to the break even scenario next Sep 23rd...

Now the company is gonna give you a ''LIFELINE'' to help you along for another 10 months (that's all that there will be by the time it goes thru....and it will go thru.....the company will be confident of that (imo).....the company may want that (imo)....the company had sought insto's positions before large private holders of heads and oppies were approached/involved(imo)....just ask PL....HE'S NOT GONNA SPIN YOU A WAR-IE ON THIS FRONT(imo).

So lets say you get your lifeline.....that's a good thing ...you may think its a good thing for you.....

The company probably doesn't particularly think its a bad thing....it raises some petty cash...it keeps disgruntled litigious types at bay at a time it can certainly do without such things....you might say ...you had them over a 50 US short gallon barrel ...And if we actually get to spudding a well (Somaliland warriors and all) the company will hopefully see a substantial number of the LIFELINE oppies converted....but only at spudding...if and when...

Strategically, company wise, I reckon this is half a good tactic because as we all know...it doesn't matter how good your data is, the chances of striking oil in the first drill is downwards of 20%.....

If half the lifeline oppies are converted at spudding (if we spud in the timeframes mentioned )... half will probably finish out of the money....WHY?... considering approximately 50 million or so have been forecast taken up ....half could be said to be good for a little while (the time between conversion at spudding, and first hole failure@80+% probable, with few selling out you could suggest, and the other half ,well out of the money by second bite expiry date, and before there is time to get the drill in the ground a second time.

At the end of the fin yr ...the co may have pocketed 25 mil in oppie conversion money and has a good insurance policy cash wise for the immediate future......with a sp somewher between 10c and $10....now which one sounds like our range?

So... resolution 3 ,it has its pro's and cons.

You''ll note I am not pushing the yes vote or the no vote....simply the vote.....FPO holders will make their own decision....dilution vs duster insurance money both have their advantages/disadvantages

Its good to see the amount of hits this thread has attracted...I hope it converts to votes on the day..

These views are my opinion only and not the opinion of rrs or any other forums that I am involved with brace yourselves for Monday... please research as required.

Preempt...we've spoken on the phone....you're just another Aussie stickin' up for his views....like me...

Cheers