inside business re nsw gas, page-20

Thanks dancing queen,

MEL is the largest remaining uncontracted reserves left on the eastern seaboard.

What specifically in my "analysis" is fundamentally flawed other than your flawed analysis of my other investments?

If you rate MEL as a hold, sell out and put your money in an investment which you see upside in.

I studied the BOW scheme over the weekend and I am still amazed how undervalued MEL seems to be on comparison. 3p+2c at 3cents makes this just too cheap, I remain keen to ride it out and see what happens.

Someone else posted how they see Mel's reserves quality between BOW's and ESG's. In the BOW scheme booklet I noticed mention of MEL being more advanced in converting their 3p to 2p. This provides a lot more confidence to the market from a technical perspective over BOW.

Barring a complete ban on all of coal seam gas in NSW (In Drew Hutton's dreams) or some technical glitch being kept from us behind the scenes, MEL has upside pressure IMO.

When there is commercial interest (recent buying by LNG and ERM) this only re-enforces a good probability the technicals check out!

Each to their own though, good luck all!

Cheers,