Ann: MEL Presentation - Good Oil and Gas Energy Conference, page-8

I'd love VEN to take out MEL at a premium but why would they? MEL are really struggling, should have had cashflow now but are still bleeding. VEN could just wait, if cashflow doesn't materialise in the short term for MEL then VEN will be picking up MEL from administrators for nix. That's a far cheaper way of gaining control of MEL.

I'm with OldGeo here. I do think MEL is on a knifes edge financially now. Management either have their collective heads in the sand about how precarious MEL's situation is or they're delusional; neither of which helps MEL's precarious position.