announcement out, page-11

Red Baron,

You describe the myth that MAE is and i agree with your own analysis.

One would think that +$50Million is a lot of debt to cover and doing so without some kind of colleteral included is impossible. And so the value aspect is introduced.
One would like to think that som money would get flows going on each well
- one at a time -
as i thought was the plan.
These announcments are like lip service and i can hear it now: "You wanted announcements to flow and better
transparency, and now your saying that we're putting out unneccessary fluff - we can't win either way!"

This is not investment advice:
In my opinion the true problem doesnt lie in the context of an
"ASX: Announcement", for Announcement sake.
The company's problem lays in its lack of outright success from one of the wells.
Still, none of the wells have in fact been
'finished' then proceeding onto another, as announced was the plan.

So annouuncing something less confusing and with more meaningful "progress and more detailed remedial activities that have been done would be very helpful for investor confidence and its market attractiveness, its not hard.
Measurements are good - does the company have any to offer?How wide are the lines throats, the psi's involved, Or Data
of any Kind...Anything except for another 100,000 cubic feet of gas per day from a yet to be completed 'producing well'. It was meant/said to be a confirmed as 'economical' even with a measely gas price of only $2 (Clear Creek).

Good on the company for reporting more frequently, but its
making peogress as non-advancing.
This especially goes for the companies general forecasts who's timelines continue to be destined
for misadventure!
I hope it gets up and into a new level, yet for now it continues to be an evil play. I mean, its a conundrum in parts, where on one hand you have a good peice of land that may not have been ruined and which may cough up one or two good well flow-rates...and on the other hand you have the corporate machine and its blunder$ and fat-cat antic$.

Which do you believe in? They have to work together because the both of them have offer value/debt per share basis.
Firstly you have the Directors who have provided the company's access to loans in the tens of millions (but not a worrying dollar figure for any normal level of big business) and who have used the money for quite a bit of pipeline on within company's acreage - a significant contributor to per share value.
Then you have the the wicked acreage and the chances that it wont give up its bounty are being ever so slightly out-weighed by the "chances it will" team...but flows are still
either fleeting, historical,
elusive or unhelpful towards servicing this huge loan owned by the company and money that commands
exploration. Any well activity on individual well may meed a lot of money spent on it at crucial moments and one would hope that things are running smoothly at the wells.

Will the company just concentrate on one well before moving on. I have to ask, is the Water Disposal situation holding individual well progress up? Or is activity at an optimum with any particular well way out in front and likely to be the first yeild to come?
Is the company actually pumping water into the Water Disposal Well right now. Doing such will accomodate obtaining a company saving flow rate...then after that the company would optimise flows and tweak instruments with money coming into the bank to service its loan obligations.

Right now, i don't have enough meaningful data/informatino at hand on the company, to be able to make an investment decision. I guess if i was to invest, it would be delving into pure hopefulness!

I really hope this one well finally comes up trumps
- whichever one they say it is doesn't matter, but such a thing would offer some direction for the play and get your share up and running and this would do wonders for all 3 plays on offer that i think can all make or break the company...and one of them eventually will:
- management
- reserve/acreage
- tradeable commodity of ASX:CODE:MAE.

They never seem to work together in harmony, but one good Gas-Flow will fix a lot of things for the
reserve expectations, management and the tradeable share.

L