ann out new issue, page-8

Hi guys,

The only thing I never understood with MS was his investment in Mosaic oil.
I thought it to be a very bad investment and obviously we all know it was.

What bothers me most in this current take-over of IPM is the fact that the assets will be spread all over the globe.

Not always a good thing as it will means extra costs and now cost savings due to this merger.

For now I think the best scenario will be if COE gets a substancial holding in IPM and let IPM do its own growing.

It will be a good investment for COE if all goes well and IPM can keep doing where they are good in and have a large corner stone investor.

Just starting to wonder more and more if I have been betting on the wrong junior Cooper explorer and if STU is going to win this race from COE.

As always it all depends on the black stuff, its all or nothing.

jojo