Ann: Chairman's Address to Shareholders, page-6

Spot on mate, i simply think that there will be no news until maybe late January - lack of news has killed the SP over the journey.

If they place shares at 75% to 80% of the VWA share price for the past 5 days, it will be a nice little earner for those that subscribe for shares, then sell them at a small premium on the open market - the inevitable result will be a slide in the SP down to the placement price, which seems to have happened the last couple times the placed shares.

Combine the above with the 3 month placement window doesn't give them enough time declare flaring successful as they have said in numerous announcements they'll flare for 30-60 days - cant see approvals being in until end of jan at the earliest, no indication that additional drilling for regulator has commenced and that's supposed to be a 4-6 week program, then the regulator will assess the additional drilling info for (say) a few weeks prior to giving the green light for flaring, then PCD has to be constructed and inlet outlet wells drilled.

Again - my sentiment hasn't changed, massive resource with huge upside, and I believe seriously under valued.

I am holding off from buying more shares at these prices and will prey on the 'Sophisticated Investors' who buy/sell for a quick dollar over the coming months.