Ann: Quarterly Activities Report and Cash Flow , page-6

re: Ann: Quarterly Activities Report and Cash... Hi Cordite,

I take it readers understand 'watershed' refers to it going one of two ways...and I urged Eveready to hang around with me a little longer - didn't want to have ALL the fun to myself.

But of course I have factors in mind when I say that...none of them new to the followers...but as Dex has been doing, just puttin' it all out there again.

EPW won't hang around indefinitely...they are a GROWTH story, and have signaled greater and greater emphasis on the role of gas in that. (From memory 2014 sees their plan to realise that.)

The privatisation of NSW Energy Generation assets to be a trigger for rationalisation of some degree - whether MEL or associated entities harvest some of that? Your guess is as good as...

Gladstone might still seem along way off, but you have to be ready when it is!!! Who knows what games will be played on paper or in the field, and WHICH pipelines get built first. (points to follow may impact that)

Barry O'Farrell one shrewd cookie, with associates...he won't waste the mandate won at the last election. Any 'unsavouray' legislation to be passed to bulldoze anti-mob aside, WILL be done.

His govt's role in facilitating restoring some standing to NSW credibility isn't lost on he and his ministers I feel.

Return to a Liberal Federal gov't in Sep will fuel the momentum, if a little late to make much difference in 2013, but, like the first tanker off the Qld coast...we know it's coming, just over the horizon.

Unlike the Franklin protest movement, where the cause was something vast and pristine, seemingly unique...and people of principle MADE time in their authentically busy lives to see it was saved....these fragments of societal malaise big-noting themselves with less than convincing agendas, and of questionable tertiary status will wane when it gets tough. These are more selfish times (in general terms), and I have seen little to fear in terms of my investment from them - purely a peripheral frustration.

Hendo et al at MEL to grow into their skins more comfortably, more convincingly -renewed investor confidence to come from that...astride the improving world markets I optimistically foresee continuing their trend east-nor-east.

Nothing in there about going up the food chain per se, but Eveready could be right. But I think the MEL resource is so strategic to domestic power consumption right now, that that will prohibit some and favour others.

Don't think I haven't entertained the negatives Gunsmoke, just that there are others on here who will thank me for leaving that side to them...

Rgds,

L