Ann: Change of Director's Interest Notice - P Garratt, page-30

Healyn - My comment was not meant at you and I want to make that clear.

Its my belief that GS has decided its easier to attack your position than mine or some others as well - you will keep fighting.

This has got out of hand in my view!

This process now doesnt allow us to have differing views and when one thread gets too hot it just migrates to the next. I cannot understand why we cannot allow others to have a view we are either in one camp or the other. What has been allowed to happen is this polarization - in my view that always allows everyone to get apathetic - which strangely often does play into those that want to have the loudest voice - you be the judge who is trying to have their voice be heard the loudest and has made comments that are close to personal and keeps asserting that these are facts and not opinion.

What is clear -

1. The views on consolidation are divergent - many ,probably a majority, have now reached the conclusion its inevitable but even then they seem to want a smaller consolidation.
2. No-one is happy about the pace over the past two years.
3. There is mistrust about ERM , its motives and whether the company should have purchased the JV interest.
4. We are hopelessly divided over the directors.
5. We are all in agreement that its undervalued - is that desperation ?
6. I am not sure where most stand on whether to go it alone or try for a farmin.
7. I am not sure whether we truly believe that we will get a loan to pay ERM back.

PS: it looks like ERM just threw MEL under the bus and will vote yes to the NSW low-ball offer as management claim three major shareholders totaling 18% support the directors view that they should accept the offer. Personally I think ERM just wants out of Gas / Oil and exploration at any cost.

Please can we find a way to end this. Maybe a personal timeout until after the vote - I am willing to wait until then to post. Let some others have the forum - however am I prepared to be in exile whist some others hold your thoughts hostage to their views ...