inside business re nsw gas, page-6

Wreck,
If you bought in at 55c expecting a take-over offer by LNG or ERM or....... at, like $1 (or maybe even 2 dolor) you may well be disappointed.
There has been good points set down on several threads by PD, Holy, HS and others on why MEL will probably not get taken over. We may slide in the short term when ERM and LNG cease accumulating and no major news emerges such as a GSA. Don't worry though, you haven't done your money.

With regard to your concerns about Mel’s laterals, the performance of the Harrier pilot is important and will guide field development. Early indications are they are performing well with gas flowing +200,000scfd at last report. But MEL has already demonstrated that it can produce gas economically. Both MEL and ROG have shown that cheap vertical wells will free-flow gas from Kangaroo Creek sandstones (see ROG), walloon coals, gatton and the deeper ripley road sandstones (KF flowed 3M scfd on choke from RR). Corella has been free-flowing methane at 200,000 scfd for over three years with no decline.

My beef is with the way you, 1) incessantly puff up this takeover 2) Lump ESG’s technical problems onto MEL, with no intimate knowledge of MEL or its intrinsic value. Perhaps I’m a little crusty having bought, held and accumulated since 2009. In addition to reading the company reports, you should take the time to dig up some of the old timers posts here that have laid it out the details simply for all. See SF & Holy’s previous posts on field development and comparisons to the Hoseshoe Canyon. PD and HS have made some gems on CM basin geology. Please excuse me pissing in your pockets, gents, but I've gleaned a lot from these boards. Cheers,
Slab