time to get real, page-6

Hi Loki,

I think the mhl/sentry deal is reasonable, considering the time it was done, the sub-prime disaster had surfaced and started to constrict lending and financing. Also, cig's deal hasn't exactly pushed the sp as it is hanging down close to price prior to deal being announced. Yes it may do well once deep drilling is started, but we have yet to see that.

MHL is going to do alright, but the jv will cement in place a better sp, the real benefit of jv won't be seen until drilling and oil finds start, which is some time off yet...

the issue at 1.4 was flagged in the reply to asx query, and was forgotten (by me) until friday. But as mentioned by thers previously, it is at a reasonable price discount on recent sp. Until the recent run up, which I think was on anticipation of jv deal sign-off in next week or so. Usual action of run-up to report, then sell off. But the announcement for the cash raising caught most offguard (me me me).

Just my thoughts on this past few weeks.... I still think it is a long term buy. jmho

cheers

steve