MAY 0.00% 2.0¢ melbana energy limited

Ann: Update on Appraisal Well Drilling Program Timetable, page-361

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    Just to set the ledger straight I converted 20m options at 3.5c, which cost me $700k direct from my bank account to MAYs. In actual paper losses since peak it’s well over a $1m since peak. All MAY sh have taken a big hit as a result of the choice to pursue exploration over production. Currently Mx seem neutered, we are a sitting duck for a low ball takeover. Production is king. I have long been an advocate for this and I don’t think my 700k has been put to good use. Not a whinge, just a factual account.
 
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