Ann: SER Business Review 2011 , page-45

Ausheds: "Aggressive attitude" and "nit picking" are strange accusations coming from someone like you who has had, for whatever reason, eight posts moderated on the LYC thread since Oct 4.

However, be that as it may ...

If you had more "knowledge/experience" about SER, you'd know that Tony Rechner was able to muster far more than enough votes several years ago to defeat a move by the then managing director to concentrate SER on oil exploration.

You'd also know that both the major shareholders are very likely to vote along the same lines. Mark Muzzin is also hardly likely to vote against whatever the deal is. We're not talking about a 10% vote here, as you seem to think.

And likening the situation to the Independents in the last Federal election is just plain ridiculous.

Do YOU get it now?

Meanwhile, I also have a six-figure reason to be cautiously sceptical. You haven't taught me anything about "the traps in private equity". I've seen over many years what can happen in these kinds of situations - which is one reason why I've been so consistently critical of management's failure to keep shareholders adequately updated. As usual you presume far too much, although I don't expect you to understand or accept that.

We all hope SER gives us something of substance next week. It's long overdue. But, while I'll be delighted if SER does clear things up for its shareholders, I'm not holding my breath. I've had too much experience of the way things can work.

Should all be made clear by an announcement on Monday, it may involve an IPO and it may not. Unless anyone has inside information, no one can be definite either way.

I have for some time pinpointed the alternative possibility that Mega may be involved in some kind of merger or takeover with another entity, given the way "the deal" over Uley was outlined. It may be the way things will turn out, it may not. No one can say for sure until shareholders are given the details.

Until then, it's all speculation. So take a step back and try to regain your perspective on the situation. Who knows, you may actually have summed the situation up accurately. In which case, I'm sure I'll be reading your post about it.

Sunman