Bargain Buy for NSW Govt, page-35

Both the LNP and Labor State Govts are guilty. They happily took Mel's money over the 10 year period, without ever issuing a production licence. They had all State Govt approvals in place to drill the Rosella well and they pulled the pin on Mel, based on the State Election results only, and did not take anything else into consideration.

Had MEL sold out to a major gas company or a foreign investor, none of us would be in financial ruins. But how could they, when both LNP and Labor were tightening the screws and making it impossible to do business.

MEL should look at maybe BUL (Blue Energy) or ICN (Icon Energy). Icons pels are next to Beach Energy, very attractive. Surely, the 125million they spent on exploration and has now been written off can be used in future capital gains. You would think that may help any potential partner. Time is now running out for MEL. They urgently need to stitch up a deal.