We all invested in mel because nsw imports 95% gas from other states. Mel discovered the biggest gas discovery in nsw in November 2009. This alone was to be the company maker and we have the largest uncontracted reserves/resources in nsw and no debts and not a glut of shares issued on market. That was the attraction.
We long term shareholders who happily paid 0.60 plus a share because mel was looking to have a bright future only to be ruined by lock the gate and the nsw govt. Given the presence of lock the gate the last 3 years most shareholders would be praying just to get their money back. Found it offensive that anti-csgers were saying that we were greedy, when our retirement funds have almost been entirely wiped out.
It gave me comfort to hear that our glenda was on the board of elk sometime ago. Hoping mel has made the right decision and that in 2015 mel can move ahead.
ELK Price at posting:
3.8¢ Sentiment: None Disclosure: Not Held
MEL Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
