+$170m rev pa for $400m - No Thanks, page-49

I just want everybody to understand how MIN obtained to Lockyer Deep Permit.

EGO - Empire Oil & Gas owned the Lockyer Deep Permit.

MIN became a substantial shareholder in EGO.

EGO built Red Gully Gas Plant - MIN loaned $15m EGO to build Red Gully Gas Plant.

EGO Red Gully Gas Plant failed.

MIN demanded payment of $15m loan.

EGO went under and delisted.

In return for the $15m loan MIN took EGO assets which included the Lockyer Deep Permit and Red Gully Gas Plant.

The creditors were paid 15-18¢ on the dollar under this arrangement.

In the end ~$15.7m was paid by MIN. (Not including shares purchased by MIN)