Ann: 2014 AGM corporate presentation to sharehold, page-8

re: Ann: 2014 AGM corporate presentation to s... Buddy/Slogger you are right.
Buddy, I can thoroughly recommend you set up your own SMSF.
It's easy, cheap and straightforward.

I did mine years ago, and all I did was buy one off-shelf thru Etrade.
But there are plenty around.and they give you a standard trust Deed, and you fill in the blanks.

Don't get put off by claims of high costs of running it.
I am over-charged - but a mate only pays about $1,200 for his. And that includes accts, tax return and audit. Depends on level of assets and complexity.

All you have to do is take care in separating your smsf from your personal business. eg separate bank a/cs. Easy.

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I used to be a s/h in MPO.
I held shares for years. I sold out when they moved to N/A.
MPO made some good money in sale of its Aust assets.
It then had a board coup, and it was decided by new board, that MPO would shift to operations in US/Canada
It then made disastrous investments in US/Canada, lost heaps of money, and has sold off most of those investments, with the balance evidently to be sold also.
Now they are planning to invest that hard earned cash into further investments in Canada.

Questions
1. WHY and on what basis did MPO decide to move all business to N/America?

2. WHY and on what basis did MPO determine that THEY and/or new mgt, had the expertise and foresight to invest in shale assets in N/A, when all their expertise was in convetional and CSG assets?

3. WHY did Board figure its majority of Aust investors wanted to see their Aust investment shifted offshore? It is a huge difference for a s/h to have an investment in an Aust business, than it is in a N/A business. It is a totally different risk profile. Bloody miles away, different laws, different business environment, different geology and dynamics, different people, and of course, exchange rate risk!

4. did you/me get to vote? I don't recall we did?

5. the share register appears to have changed, to the extent that the original pursuers of board change, have sold, and now the register is dominated by N/A institutions??

6. of importance now, is that MPO have indicated that they will use the cash to invest in O&G coys in Canada. WHY do they think they have the expertise to better invest than all those O&G coys that have gone before them? ie wouldn't many other O&G coys have picked-over these targets?

7. imho, I would have preferred to see MPO either return cash to s/h, or return operations to Aust in an environment its s/h are more familiar with. There are PLENTY of good prospects here in the O&G industry.

IF s/h agree, and you have a strong view, you CAN make a noise. You DO have a say.

Anyway, am just an observer now, so good luck to s/h.

cheers