aec el4877 - $600k due march 15th, page-5

MA,

Unfortunately we have a rather average JV deal already with UIL who because of their location (US) have been painfully slow actioning their end of the deal.

GPP had also talked with Alcoa but couldn't get anything across the line, hence ended up with a weaker partner and deal imo.

The best thing anyone wanting a great shale location in North Perth could do (and for us holders) is make a full offer for GPP

even 20c would only be a measley $14.5m

If the AEC deal goes ahead as announced and looks likely
Then we would have around $7m in cash and ASX listed stock

More than twice the market cap!

The negative equity is becoming more and more obvious that the way the company has been run, and results to date (losses on CSG in NSW and zero result on EP425 - vended for $1.2m by a director) point at a lack of commercial acumen and deal making ability of the current board.

Disc, hold a few mill EGO too.