Hi Auto,Firstly, you were right and I wish I wasnt so dumb and...

Hi Auto,

Firstly, you were right and I wish I wasnt so dumb and ignorant to listen to you and EL ages ago.

LMAO with your comments. So true, so true.
I am completely out as of a couple of weeks ago when no oil shows announcements were announced promptly when they should have hit the second zone about 3 to 5 days after recommencing the drilling.

I doubt these guys even care if the acerage is prospective. They just need to be seen as directing something and the salary package is based on identifying prospects. Like you said be shooting seismic drilling in MS backyard soon LOL. MS gets 800k a year, has purchased no shares for ages. None of them have and Hancock even sold a huge chunk.

Primary objective shareholder wealth LOL with a vision of 50 million barrels recoverable barrels. The only objective is to keep their jobs. I can't believe me and you were seemingly the only ones that voted against them at the AGMS.

As for takeover potential, takeover what? A warchest with PEL 92. The rest of the permits are like owning a boat or a racehorse where they are just spending and spending on bottomless pits with less then 10% odds of getting a return on their capital. These permits have a negative value and now I understand why the market is discounting it so much to the cash plus reserves value of 49 cents.

Been a great investment, lost 60k and the interest received on 450k for 3 years lol. Must admit I feel relieved to be out of this biggest dog on the asx (feeling recooperated lol). Talk about learning the hard way.

No more chasing million dollar pipe dreams for me anymore.
Annoyed I paid big capital gains on JBM and WPL and now stuck with losses carried forward forever LOL. Great tax planning haha!! Im 32 so when i am 72 I might offset those losses carried forward LOL.

I am earning interest received at ING now, not dust from COE drills. Maybe I should invest in Hoover as at least they admit to specialing in DUST lol.

Good luck pmunt and any other coe holders. I hope someone makes a profit out it besides the directors even if i didn't :)