Ann: Bank Facility Terms Renegotiated and Extende, page-35

re: Ann: Bank Facility Terms Renegotiated and... Thats the best post I've seen from you L.unfortunatly I think for the little fish in the market its the always the same. Big money = influence and power.

Freespins no offence but you are delusional to even try to compare MAe to QGC. Once upon a time QGC was 75c at the same time MAE was around 75c. About 18months late it was bought out for 5.45 a share. MAE is now 5 cents.
If MAE was like QGC or arrow it would be a take over target at 5 bucks by now. Those companies managaed to PROVE reserves of 4+tcf over a few years. MAE DECREASED it reserves and has 2P of 250 with NO 3.

Also its nothing like an IPO.
1. A IPO does not start with 52 Mill in debt with 10% due in 3 months.
2. Directors don't resign when a company starts up.
3. a new company starts with a property to prove MAE has a property to salvage.

MAE has been farmed into clear creek since 2005 after about $190 Mill in share holder capital and 5 years they have yet to get gas flows from a well OMAN2-20 drilled in 1996 which has had 3 entities try to draw gas out of but been unsuccessful. Now the wells they have drilled since owning are been used as water disposal wells.

Remember this field HAS generated 120bcf of reserves MAE are trying to prove that the well spacing was to large and there is still gas. There are many VIRGIN shale gas plas out there with much less risk.

Also US natural gas prices are about $4 currently LNG prices are around $9+ the US domestic market is in a glut.

Big co's want QUALITY assets MAE is not a quality high return asset. How many billion dollar gas deals are going on in the continental US right now? BG, Shell, Conoco phillips ,chinese firms are all securing these quality assets NOW. Fields such as clear creek are nothing compared to the nw shelf , papua, QLDs coal fields etc.

You seem so resound to the fact that MAE is bulletproof. MID POWER filed for chapter 11 because of this field and sued the previous owner over OMAN 2-20 becasue it wass not economical as stated. They then farmed out to MAE. This is history repeating itself not a alice in wonderland fairtale.