Hi guys, Wow! Take a couple of days off to recharge the...

Hi guys,

Wow! Take a couple of days off to recharge the batteries, and all hell breaks loose! I am completely bemused by everything that has happened over the last couple of days, but I have high hopes that this story has only just begun. The majority of MEL holders are sitting on huge losses. A few days ago, it appeared as though we were using our legal rights to force the government's hand. Now, we have been backed into a corner, and the only way out is to fight, tooth and nail, towards justice or a bitter end. My vote is NO.

Unfortunately, a couple of things have now gone against us:

1) The majority of the public saw us as the underdogs. Now, I think many believe the situation is "resolved".
2) Anyone who glances at the figure of $25 million probably thinks that is a lot - and rejecting it will make us shareholders look greedy for more, rather than entitled to more.
3) If a future decision goes against us, the perception will be that we deserved it and should have taken the $25 million in the beginning.
4) We had leverage before, whereby the government either had to make an appropriate settlement, go through court, or publicly shut us down. Now, they have an extra leg to stand on in the public eye.
5) Rather than let our position do the talking for us, we now have to go on the full attack, which will make us as popular as the mud stain you just left on your Mother-in-law's new white carpet. The government stuffed up, and the ordinary tax-payer was set to pay the bill for that. Now, the tax-payer believes that the government did a great job in smoothing things over, and some gas company is trying to screw them out of their money. Not so good.

But, there are a few things in our favour:

1) The MEL board know that they are in for a fight to save their jobs. If the numbers are there, they answer to US, or they go!
2) Adversity brings solidarity - I feel like there is a movement brewing amongst holders. Enough is enough!
3) Peter Henderson has identified the direction we need to head in, if the vote is no. Get back in and start building a business!
4) Lack of action will no longer be tolerated by a tired and frustrated group of shareholders who mostly have little left to lose.
5) The law is still in our favour, despite any social perceptions or weak government offers.
6) Everybody has been crunching numbers, and they simply don't work for most of us. As they say, necessity is the mother of invention, so imagine what effects desperation can cause.

My fellow holders, we have been treated like a beaten dog. We have been forced into the corner, kicked to the ground, spat on and had our name battered from pillar to post. Time to stay sensible, yes, but time to get angry! Personally, I have nothing really left to lose.

Vote NO, and let's give this thing a real shake. Time to make some people accountable!

All in my own opinion, of course.

Sincerely, good luck to everyone. I'm sure it is needed.

AP