Ann: Notice received under section 203D Corporations Act, page-7

I'm voting against this. The only ones that will benefit are those seeking to gain control.

I suspected with the weak share price someone might opportunistically try something like this on and here it is.

Manora development is a success:

"Manora is now producing from six wells: MNA-01, MNA-02, MNA-03, MNA-05, MNA-07 and MNA-08. The Operator (Mubadala Petroleum) has confirmed that peak production of 15,000 barrels per day (gross) has now been achieved and can be maintained with only 7 producer wells (instead of the original 10 producer wells)."

The really hard thing to swallow is the timing... we've basically become the producer and reached peak production at the worst time possible in terms of the oil price. You can't blame management on the timing though, no one really predicted the pace and depth of the fall (at least I didn't), and not much you can do about it.

I'm confident the oil price will recover to be above $80, as there seems to be a savage cut to cap ex by companies all around the world and when we work through existing developments it'll be back up. Not sure on how long though.