249d - ig - plan discussion, page-12

hazio I reckon there are a lot of holders who would agree wholeheartedly with your kind words.

Just to remind a few of those out there with short memories remember this..

...and as far as the SP erosion it started a long time back when their plan didn't go to plan so if you are trying to find a scapegoat in the part the IG have played so far you are barking up the wrong tree as the stage was well and truly set long before the IG were even thought of, with the company deviating far of the path plus coupled with the continuous slow (sometimes rapid) selling into the depth by, with hindsight, those multiple entities with their fingers also in the notes.

The company's much publicised 10 well completion program by July 2012, (indicative) as I see it was the board's business plan which was released to the share holders at the AGM and the market on 30 Nov 2011, the same day as the AGM was held.

See pages 10 & 11
http://www.stocknessmonster.com/news-item?S=GGP&E=ASX&N=569382

Their plan was to drill, frac, and to flow from 10 wells by July 2012 with P.10 of the presentation showing the timelines for the different stages of each of the 10 wells, and P.11 gave an overview of the required capital for the wells (drilling, completion & fracing costs) of $12mil, cash balance, plus future rights issue and revenues.

So that was the company's business plan (drilling, fracing, flowing to production) and I can see it was not worth a pinch.

So I saay to the newbies, go for it because you couldn't possibly play a worse game of darts than the current BOD did with that 10 well program.

I'm a suspicious dude, so I often wonder how or why they got it so wrong as compared to their intent shown in their presentation at the 2011 AGM.