I totally agree.
The $1/PA has been done by a number of companies in tough times, and is commendable.
I would rather spend $1/PA on lawyers and use the funds to pay the people running the company.
Of course there is a desire to find gas. And build the company. I've been involved in this project since 2004 so there is a strong desire to prove that I've been right all along about the potential.
There are sound technical and commercial reasons for drilling first, vs 3D in this situation.
The plan would be to also bring in other projects, simplify the structure and start treating MEC like the Pool Development Fund that it is.
This company is a mess.
One thing is certain. Companies are not built on hate, and animosity and legal action.
Unless something changes the current situation will not improve.
tom
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