Ann: Unauthorised Mail Out by Shareholder Interest Group, page-4

Mr Fontaine et al,

Why are you (and your group) trying to utterly confuse shareholders rather than just letting them vote on the Board composition - and then accepting that vote - whichever way that may go. I have serious doubts about the claims you and your guys have made and there are many questions you have not answered in any way other than "generically". MEC by my understanding is a pooled development fund - not an oil and gas company - so why is it considering funding a well??

My number one question to you is that if you run MEC (which I understand only owns about 50% of Advent), how and in which company are you going to raise $20-30M to drill a well? Are you going to lend all the money to Advent as has been done in the past? Who owns the other 50% of Advent (e.g. does Breeze or his associates own any of that)? Are they going to pay their share? Why should MEC shareholders fund and "free carry" those shareholders?

Your "strategy" is unclear and has not been elucidated to MEC shareholders in any way. This is a "mines bigger than yours" fight as far as I can see. At least the current Board's strategy of de-risking the project without tipping more money into Advent seems to have some logic to it.

DYOR