here is the good news so please get upset, page-82

This is Mr Lincoln Augustus, first second cousin of Holymagiman.

It is a warm Tuesday morning today, breezy and wonderful, and just the sort of day to take one's mind off a wonderful past week of lazing and fishing at Discovery Bay.

And as my first second cousin has pointed out, I was a little wrong in my target date for when Eastern Star would reach 90 cents. But it cannot be too far off, most likely tomorrow Australian time.

There appear to be three variables in play that are going to affect Eastern star's price:

1. Firstly, Gastar's 35% share of the PEL 238. This is up for grabs, and we will not know about who the buyer is till the deed is done.

The most likely buyers would be Santos or AGL, who both have a lot to gain and a lot to lose, depending on the outcome.

2. Hillgrove has 151,823,529 shares and 24,250,000 options(exercisable at 15cts), making a total of 176,073,529 shares that are vulnerable. I feel that Hillgrove is in such a position that it would not be coy to part with this shareholding if a decent offer were to be made.

3. The most interesting thing that I have noted is that the pattern of trading seems to have changed of late, with volumes going up and a steady buying pressure, especially late in the day. It could well be that some party/s is/are building up a stake/s just under the 5% level that would make it/them substantial shareholders and open to disclosure.

I have to be leaving you now for Holymagiman is just outside on the Motoguzzi.we are off to mama Rodiguez's at Montego bay for another of her fine breakfasts.

Blessing of the Lord and peace be with you.
MLA