A penny for your thoughts..., page-4

As a long term holder I'm convinced that csg is dead in the water in NSW and Victoria for the simple fact that no company or government is prepared to support it enough to sway the argument put in place by the greens and lock the gate. I would however be disappointed if natural gas and oil exploration such as what mel is proposing is not supported. Until the forth coming drill is done and properly evaluated any need for fracking is pure speculation. Yes there maybe zones in the drill that maybe restricted or tight gas but any fracking or horizontal drilling can not be deemed as necessary until after the initial drill is complete. If fracking is found to be necessary for it to be comercial then the field should be re evaluated then.

Mel has no choice but to pursue the NSW gov for compensation if they decide to ban all oil, gas, and csg exploration and comercial development on mel's tenaments. Full compensation of mel's costs of exploration over the last 10 years is appropriate. Any reserves already discovered must also be placed as mel's asset for the next 50 years which can only be sold or developed by mel. If the NSW gov does not pay a commercially adequate sum then business will see that NSW is closed for business. Victoria is already finding this an issue after tearing up a major road works contract and paying a billion dollar cancelation clause. So NSW be very wary of turning your state into a no go zone for business and international investment.

Cheers ns