reading between the lines, page-4

All great "talking up the asset" play by our board.

H.S's horse sounds promising (T.U) but if he was chatting to any horse at MEL's agm, I would expect some significant whispering. Definitely exciting!

Yes ALH, if any of these plurals eventuate in a significant re-rating, i'll be buying the place next door to you in Queenstown ;)

Talking to multiple parties is important and I am ecstatic our management are putting their best foot forward. I also like their plans for 12 new drilling targets for 2012! - MORE PRESSURE!!

The message is clear "Guys, you can toy with our shares, but if you want our support you have to come to us with a REAL commercial offer".

Maybe the negotiations which fell down earlier in the year have annoyed someone so they are now trying to go hostile?

One thing is absolutely certain, IF MEL has a top quality resource, there will be a war to secure it - make no mistake! We need only 1 home run pilot to get the majors fighting for her.

The problem with ESG was the quality of the resource wasn't all it was cracked up to be so there was only 1 interested party. The party who had already spent over half a billion dollars on it to date with a 20% holding of a bloated Market Cap register. Zero upside! Out of time and out of options.

BOW's resource also wasn't all it was cracked up to be. sporadic commercialisation potential in the coals. A 3p figure which was disproportionate to its 2p! BOW's Market Cap was never low enough for me to enter it properly as a ratio of its growth potential.

If it can be demonstrated, the Clarence Morton Basin is anything like the potential of the Surat Basin, coupled with a skinny $200 Million Market Cap and no major calling the shots, strap in for the ride of your life!

Blue Sky? I call it fundamentals!