inside business re nsw gas, page-15

Stump

I sincerely hope a production phase farm-in eventuates but doubt it.

Peter Henderson was talking farm-in today but as expected wouldn't be drawn on how much equity a farminee would want. A farminee will want much more than 50%.

PH is talking farm-in, the Chairman talks about the board representing the interests of long-term shareholders while Resolution 6 passed today says their expecting to be taken over in the near future.

Their actions say it all. Their words are empty and worthless.

Having listened to the babble today, I'm anticipating another deflating experience with this one. The worst that can happen is a capital gain. I should be happy.

I'm sure others had a different experience at the meeting judging by the lack of questions. It all sounded very hollow to me.

Sentiment is BUY asssuming a bid is not far away.