possible scenario mpo>mel, page-5

While I would like to consider any kind of takeover scenario of MEL just to fire it up a bit - I can't see MPO figuring in that discussion.

From memory, MPO only owns MEL shares that were given in consideration for MEL to take 100% ownership of CSG/conventional rights over a couple of the Clarence Moreton PEL's. I think MPO changed their strategy to focus outside of Aus (I think?) and has actually already sold down some of their MEL shares previously.

So a highly unlikely scenario IMO.

But I like your sentiment to Buy, Buy, Buy.... I just wish a few more people would share it - as I hold a lot of these already - most of which are now underwater at this price. But I'm still determined to exercise more patience with this type of play than in the past.. held AOE/QGC for a long time - sold out for modest profits on each before they even hit $1 because sentiment seemed to have turned against them and I couldn't see them going anywhere too quickly. Needless to say - once a few more reserves are proven, and some major company is certain of what they are getting - they can re-rate pretty quickly and finish as multi-billion dollar companies... a future I still hope for MEL (which is a big dream given they are only $90m MC at this stage...)

So, am following the current drilling with much interest...