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Well it was an improvement on recent years in my view, at least the commentary seemed clearer on what they were setting out to achieve.

Rob Neale said two things one in particular that will resonate with any shareholder that has tried to keep faith with this stock over the last year or so.

First, that Meridian field is the priority going forward driven by a desire to ensure monetization of the resource.

Second, he and the Board felt that the protracted negotiations with the various "suitors" was a distraction and didn't help the business over the last year or so.

The independent review that the new Chairman talked about obviously pointed out the deficiencies in management and Board and it is reflected in the changes undertaken recently. Looking at Angus all through the meeting, he looked like a guy that lost $100 in the street and then found 50c.

The new CEO, Mike Hughes presented well and spoke of the quality of the asset (1P and 2P), its location and the timing we find ourselves in the market - for him this was a real opportunity going forward. Right asset, right place, right time.

However to his credit he made it clear that WCL is no "A" grade CSG asset - in case any of us had deluded ourselves to think otherwise. It has quality but there are better out there - as well there is a lot of rubbish out there and he said WCL is a real growth asset if the new management and Board can do their job.

So with them probably needing until late 2014 to finalise most/all new GSA's from those expiring in 2015, we may not be able to pass full judgement on this new look team and strategy - via their negotiating skills, the real supply shortage in the market (gas demand to triple from 2015?) and the effects of them largely having now fixed their OPEX, until well into 2014 and up to the next meet AGM.

So be interested what others who were there thought.