now we know who owns all the stock., page-9

sorry to repeat but this is the right forum

Pretty soon we will be bombarded with well after well spudding at East Oklahoma with a few Osage and West Tulsa announcements intermingled. What a bugger!

So Pretorius took some cards of the table. Good on him I reckon. He remains a substantial holder.

Prospect Custodians added some. They have been buying on market up to the 02/06/09 and on the 4/06/09 received 70% of the stock from the recent capital raising (3,500,000). Do you reckon they just stopped buying then? They are now a substantial holder who seem a wee bit interested.

Also I expect a form 604 (sub change) for Ghiradello. On the 07/05/09 changes to substantial shareholder notices were issued (x3) due to dilution as a result of the exercise of options. As at this date Mr Ghirardello's holding was 14,200,000 shares. The top 20 issued on Friday shows Mr Ghirardello having 15,620,000 shares which is an increase of 1.22% of total issued capital. According to the Corporations Act 2001 section 671b 1(c) changes of >1% of issued capital in a substantial holders position is a declarable event.

The economics of this play is compelling at a gas price of USD$3.50 Mcf (even less). Somehow I think by the time we have a few more wells on line the price of gas is going to be more than this and this time next year will be substantially more. Totally leveraged to the price of gas and it is all profit.

I'm watching the register with interest – 4 million transacted in the last 3 trading days. Not necessarily watching for a takeover but sheesh it must be attractive even at this price. I’m not too worried about the day to day machinations, other than for excitement value, because the value is there and will be realised one way or another.

Cheers