Future Direction:, page-25

Hi All on Red,

Just in response to your post

The ACCC report I read says there could be a gas supply issue as early as next year. I will try and post it when next at a computer.

What makes you feel the deal with STO reduces the chance of Takeover? The only thing STO have for certain is a chance to increase there ownership of Mahalo and still not to a level of control.

The last announcement spells out that they are fully funded should they go ahead with STO. They have the 10m from Pure plus what was in the bank - why would
they need to raise funds?

Would be very interesting to get some more detail on your 3 points.

Something has to give soon as the petroleum licence is ticking away in the background.

I can't explain the SP weakness except to say there still seems to be computer driven. The gas just at Mahalo at $1.5 a gig (spot prices have hit $22 very recently) should have is sitting at 4 x our current market cap (loose numbers)

The current weakness is frustrating but short term.

All the best

Pete