re: Ann: Letter to shareholders on resolution... Hi EwereYour...

re: Ann: Letter to shareholders on resolution... Hi Ewere

Your fears are unfounded.

Glenda, David and Mick want to restore the company's fortunes and status to what it was when they departed 2 years ago.

Everyone familiar with these thoroughly decent people knows that they would NEVER be the Trojan Horse for a sinister grab of an asset worth billions.

As the gas picture has changed and will continue to change we need a Board and management nimble and seizing all the opportunities presented to them. And listening to us the shareholders.

Until a very short while ago the Board was shutting the shop, selling off the furniture and garden gnomes and flouncing out of NSW and seeking a new life elsewhere. Overseas was mentioned!

Whoopsie! Now all that is tossed aside and Rosella is to be drilled.

Great strategic thinking NOT from an "experienced ASX Board".

I've forgotten how many times we've been told Rosella is to be drilled. It's always in the next 6 months.

In January we were told 3 exploration wells, 3 pilot production wells and Rosella was the plan.

Result: 2 exploration wells costing millions of $; a bit of seismic; no production wells and no Rosella.

Last week they finally announced, as an aside, a meagre increase in 3P and they had decided to cut their fees by 20%. Bowerbird was drilled in February and they took the pay cut in April. It's October and now they decide to tell us!

And they have the nerve to tell us that Glenda, David and Mick spent $70m. With them at the helm we have 3P reserves of 2000PJ. Gas worth billions of $s.

What have we got for a years work with this lot?

Vote 'em out.