Lockyer Deep - From the horse's mouth OR What the JV partner really thinks about Lockyer Gas, page-180

There has been an enormous amount of very good analysis of the situation.
I cannot add anything more to the discussion except to say that I am holding on stong and telling everyone that I know not to accept the offer.
I have met with Alexii and I agree with his analysis of the situation. We need the results of the drills and the 3D seismic to know what we own and then to apportion a value.
We need to be aware that CE will take every opportunity to treat us like EGO and take over cheaply ... he is ruthless.
We need to be aware that we will need to raise capital so that we do not get into another situation like EGO did.
We need the directors to be negotiating with financial institutions to fund the construction of the gas processing plant and the pipeline to market and not sucking up to CE but I think that we need the results of the next well before that can take place and maybe the results of NED`1 too.
The analysis of the 3D seismic is too far away so waiting for those results is not an option in my opinion to begin the negotiatons for funding.
I would be talking to Macquarie.
As an independent director I would be happy with Peter Munachen if his health permits. He is bonded to NWE and still holds a lot of shares. He has the qualifications to be a director and the smarts too.
Something for you all to consider .....
regards
Potter