a 'strong' reserves upgrade?, page-23

Hey Bundy ,

I'm definitely not big enough to be a brute ( probably fortunately for me , not good with pain ! ) .

You have indentified the crux of the issue though and that is the lack of disclosure .

It is one thing for a resource to not turn out as expected - that's part of the risk for the investor. Even the gfc , once again , a risk. I accept that aspect as an investor.

What I don't accept however is years of talking up the asset prior to this sell out . Words such as massive and world class come to mind. " We're talking to people all the time ". " We're not going to give it away cheaply " etc

My investment strategy was to largely ignore the various valuations by DC and even the HC punters. I was simply basing mine on the size of the resource and it's location. Whatever the market valued the resource at the time was fine by me , it was the size that was the issue for me. Not to mention " we've cracked the technical solution for the field ". This further supported my decision .

Producible gas X large amount X close to a market X STO with 20% = a good return for me.

Management now conveniently bound by a no talk clause so that they can't explain the situation to their shareholders is a big problem for me also.

DC managed to get himself a really big payrise last year. From somewhere around 400k to 1mill from memory. Considering where his wages come from , I think he has some explaining to do .